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    Commodity prices to go up following new charges

    Commodity prices to go up following new charges

    tvN – Korea’s top entertainment brand debuts on DSTV

    tvN – Korea’s top entertainment brand debuts on DSTV

    AAR Insurance embrace paperless model with new mobile app

    AAR Insurance embrace paperless model with new mobile app

    Parliament now pushing for all Kenyans to pay Ksh6000 NHIF fee

    Parliament now pushing for all Kenyans to pay Ksh6000 NHIF fee

    Popular Journalist Dies In Gristly Road Accident

    Popular Journalist Dies In Gristly Road Accident

    Minet feted Insurance Broker of the Year

    Minet feted Insurance Broker of the Year

    Konza Technopolis, Israel to host Innovation Challenge

    Konza Technopolis, Israel to host Innovation Challenge

    Samsung Named Top Global TV Manufacturer

    Samsung Named Top Global TV Manufacturer

    BBI will Create a good Business Environment: Mt Kenya MCAs Chairman

    BBI will Create a good Business Environment: Mt Kenya MCAs Chairman

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    tvN – Korea’s top entertainment brand debuts on DSTV

    tvN – Korea’s top entertainment brand debuts on DSTV

    Samsung Named Top Global TV Manufacturer

    Samsung Named Top Global TV Manufacturer

    Locally assembled Proton Saga saloon car released to the market  

    Locally assembled Proton Saga saloon car released to the market  

    Hennessy becomes NBA’s first global spirit partner

    Hennessy becomes NBA’s first global spirit partner

    KenGen to Pay Ksh1.65 Billion in Dividends

    KenGens’ half year profits hit Ksh6.8 billion

    Suzuki unveils latest entrant into the Kenyan market

    Suzuki unveils latest entrant into the Kenyan market

    Kenya Breweries launches academy to train 10,000 bartenders

    Kenya Breweries launches academy to train 10,000 bartenders

    New Directory to Provide Support to women owned Businesses

    New Directory to Provide Support to women owned Businesses

    Faulu Bank to lend Ksh 3 billion to SMEs to boost growth

    Faulu Bank to lend Ksh 3 billion to SMEs to boost growth

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    17% of Kenyan Billionaires looking to buy a house in 2021

    17% of Kenyan Billionaires looking to buy a house in 2021

    Kenyan Firm awarded Most Innovative Community Developer 

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    Developing Countries Set To Lose Sh22 Trillion Due to COVID-19

    Commercial office rents fall 13pc in quarter 3 & 4 of 2020

    New Construction Technology to help NHC deliver affordable homes

    New Construction Technology to help NHC deliver affordable homes

    NCBA partners with Shelter Afrique to finance properties in 5 counties

    NCBA partners with Shelter Afrique to finance properties in 5 counties

    New Ksh350Million Commercial centre to be constructed in Athi River

    New Ksh350Million Commercial centre to be constructed in Athi River

    Greenpark Estate injects Ksh15M to its development

    Greenpark Estate injects Ksh15M to its development

    LG’s OLED Honoured at the Technology and Engineering Awards

    LG’s OLED Honoured at the Technology and Engineering Awards

    Kenya’s position as a Digital Media Hub gaining momentum

    Kenya’s position as a Digital Media Hub gaining momentum

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    Konza Technopolis, Israel to host Innovation Challenge

    Konza Technopolis, Israel to host Innovation Challenge

    TikTok releases H2 2020 Global Transparency Report

    TikTok releases H2 2020 Global Transparency Report

    OPPO Announces Global Partnership with Volkswagen

    OPPO Announces Global Partnership with Volkswagen

    2 Kenyans selected to create African Inspired stickers for New Chat App

    2 Kenyans selected to create African Inspired stickers for New Chat App

    Mobile Phones contribute to the realisation of UN SDGs – 2020 GSMA report says

    realme awards fans to Valentines through DaretoLove Campaign

    realme awards fans to Valentines through DaretoLove Campaign

    Opera launch its new Chat App to rival WhatsApp

    Opera launch its new Chat App to rival WhatsApp

    IoT predictions for 2021: Smarter tech will make better business

    IoT predictions for 2021: Smarter tech will make better business

    Nokia to launch its low cost smartphones in Kenya

    Nokia to launch its low cost smartphones in Kenya

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    OPPO Announces Global Partnership with Volkswagen

    OPPO Announces Global Partnership with Volkswagen

    World Engineering Day to Be Celebrated in Kenya

    World Engineering Day to Be Celebrated in Kenya

    How NASA Technology Can Help Save The World’s Largest Shark

    How NASA Technology Can Help Save The World’s Largest Shark

    After fight with US Authorities Huawei CEO now want talks with Biden

    After fight with US Authorities Huawei CEO now want talks with Biden

    Ford Vehicles to be powered by Android and Google apps in new deal

    Ford Vehicles to be powered by Android and Google apps in new deal

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    Columbia Africa banks on primary and preventive healthcare to grow market share

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    DHL Express Named Best Employer in The World

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    Meet the founder of Safari Doctors Umra Omar

    Kenya to receive Ksh 1 billion from Google for economic recovery

    Kenya to receive Ksh 1 billion from Google for economic recovery

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    Safaricom PLC Announces A 14.4 Per Cent Increase In Half-year Net Profit

    Safaricom cracks whip on rogue MPESA agents

    Commodity prices to go up following new charges

    Commodity prices to go up following new charges

    AAR Insurance embrace paperless model with new mobile app

    AAR Insurance embrace paperless model with new mobile app

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    Minet feted Insurance Broker of the Year

    Samsung Named Top Global TV Manufacturer

    Samsung Named Top Global TV Manufacturer

    Aden Duale pushing to make pornography an expensive affair in Kenya

    Aden Duale pushing to make pornography an expensive affair in Kenya

    Locally assembled Proton Saga saloon car released to the market  

    Locally assembled Proton Saga saloon car released to the market  

    Hennessy becomes NBA’s first global spirit partner

    Hennessy becomes NBA’s first global spirit partner

    • Agribusiness
    • Banking
      Safaricom PLC Announces A 14.4 Per Cent Increase In Half-year Net Profit

      Safaricom cracks whip on rogue MPESA agents

      Bill in parliament seeks to have CBK regulate Mobile lenders

      Faulu Bank to lend Ksh 3 billion to SMEs to boost growth

      Faulu Bank to lend Ksh 3 billion to SMEs to boost growth

      DTB Bank set to shut down 6 branches

      DTB Bank set to shut down 6 branches

      Secure your future by saving with Metropolitan National Sacco

      Housing Finance launches new money transfer service

      Housing Finance launches new money transfer service

      Businesses to benefit from Ksh1.6 Billion in Aid from DTB

      Businesses to benefit from Ksh1.6 Billion in Aid from DTB

      Leak: 53 Kenyan banks, individuals Named in FinCEN Files For Illegal Sh6 Trillion Transactions

      Impending layoffs at Absa Bank Kenya Plc

      Family Bank opens its 92nd branch

      Family Bank opens its 92nd branch

    • Insurance
      AAR Insurance embrace paperless model with new mobile app

      AAR Insurance embrace paperless model with new mobile app

      Minet feted Insurance Broker of the Year

      Minet feted Insurance Broker of the Year

      Faulu Bank to lend Ksh 3 billion to SMEs to boost growth

      Faulu Bank to lend Ksh 3 billion to SMEs to boost growth

      Pension Schemes Maintain Positive Performance in Q4 of 2020

      Pension Schemes Maintain Positive Performance in Q4 of 2020

      DigiTrust: ICEA Lion Group bets on technology in the rewarding money market field

      DigiTrust: ICEA Lion Group bets on technology in the rewarding money market field

      ICEA Lion Life appoints a new CEO

      ICEA Lion Life appoints a new CEO

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      Exposed: Insurance Company on The Spot for Fruatrating clients

      Octagon feted in 2020 World Pension Summit Innovation Awards

      Octagon feted in 2020 World Pension Summit Innovation Awards

      What do you need to know before purchasing car insurance?

      What do you need to know before purchasing car insurance?

    • Manufacturing
    • Opinion
      IoT predictions for 2021: Smarter tech will make better business

      IoT predictions for 2021: Smarter tech will make better business

      KRA Goes After Rich Individuals, Firms Over Sh250 Billion

      Digital Services Tax a desperate move caused by bad governance

      OPINION: Managing the end-of-life of products to accelerate a circular economy in Kenya

      OPINION: Managing the end-of-life of products to accelerate a circular economy in Kenya

      Why Digital Services Tax is a retrogressive policy

      Why Digital Services Tax is a retrogressive policy

      How Citizen TV Became The Most Watched in Kenya

      How Citizen TV Became The Most Watched in Kenya

      This is the new Safaricom logo

      Fail or win? Mixed Reactions over Safaricom’s new logo

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      OPINION: Why Safaricom’s Fuliza is a rip off!

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      OPINION: Conserve Nature Even as you Work to Achieve SDGs

      Crisis as young Kenyans now embrace Crime as lifestyle

      Crisis as young Kenyans now embrace Crime as lifestyle

Kenyan Business Feed
  • Home
  • News
    Commodity prices to go up following new charges

    Commodity prices to go up following new charges

    tvN – Korea’s top entertainment brand debuts on DSTV

    tvN – Korea’s top entertainment brand debuts on DSTV

    AAR Insurance embrace paperless model with new mobile app

    AAR Insurance embrace paperless model with new mobile app

    Parliament now pushing for all Kenyans to pay Ksh6000 NHIF fee

    Parliament now pushing for all Kenyans to pay Ksh6000 NHIF fee

    Popular Journalist Dies In Gristly Road Accident

    Popular Journalist Dies In Gristly Road Accident

    Minet feted Insurance Broker of the Year

    Minet feted Insurance Broker of the Year

    Konza Technopolis, Israel to host Innovation Challenge

    Konza Technopolis, Israel to host Innovation Challenge

    Samsung Named Top Global TV Manufacturer

    Samsung Named Top Global TV Manufacturer

    BBI will Create a good Business Environment: Mt Kenya MCAs Chairman

    BBI will Create a good Business Environment: Mt Kenya MCAs Chairman

  • Markets
    tvN – Korea’s top entertainment brand debuts on DSTV

    tvN – Korea’s top entertainment brand debuts on DSTV

    Samsung Named Top Global TV Manufacturer

    Samsung Named Top Global TV Manufacturer

    Locally assembled Proton Saga saloon car released to the market  

    Locally assembled Proton Saga saloon car released to the market  

    Hennessy becomes NBA’s first global spirit partner

    Hennessy becomes NBA’s first global spirit partner

    KenGen to Pay Ksh1.65 Billion in Dividends

    KenGens’ half year profits hit Ksh6.8 billion

    Suzuki unveils latest entrant into the Kenyan market

    Suzuki unveils latest entrant into the Kenyan market

    Kenya Breweries launches academy to train 10,000 bartenders

    Kenya Breweries launches academy to train 10,000 bartenders

    New Directory to Provide Support to women owned Businesses

    New Directory to Provide Support to women owned Businesses

    Faulu Bank to lend Ksh 3 billion to SMEs to boost growth

    Faulu Bank to lend Ksh 3 billion to SMEs to boost growth

  • Real Estate
    17% of Kenyan Billionaires looking to buy a house in 2021

    17% of Kenyan Billionaires looking to buy a house in 2021

    Kenyan Firm awarded Most Innovative Community Developer 

    #OmokaNaAlma: This is how you get awarded Sh50,000 by Cytonn Real Estate

    Developing Countries Set To Lose Sh22 Trillion Due to COVID-19

    Commercial office rents fall 13pc in quarter 3 & 4 of 2020

    New Construction Technology to help NHC deliver affordable homes

    New Construction Technology to help NHC deliver affordable homes

    NCBA partners with Shelter Afrique to finance properties in 5 counties

    NCBA partners with Shelter Afrique to finance properties in 5 counties

    New Ksh350Million Commercial centre to be constructed in Athi River

    New Ksh350Million Commercial centre to be constructed in Athi River

    Greenpark Estate injects Ksh15M to its development

    Greenpark Estate injects Ksh15M to its development

    LG’s OLED Honoured at the Technology and Engineering Awards

    LG’s OLED Honoured at the Technology and Engineering Awards

    Kenya’s position as a Digital Media Hub gaining momentum

    Kenya’s position as a Digital Media Hub gaining momentum

  • Tech
    Konza Technopolis, Israel to host Innovation Challenge

    Konza Technopolis, Israel to host Innovation Challenge

    TikTok releases H2 2020 Global Transparency Report

    TikTok releases H2 2020 Global Transparency Report

    OPPO Announces Global Partnership with Volkswagen

    OPPO Announces Global Partnership with Volkswagen

    2 Kenyans selected to create African Inspired stickers for New Chat App

    2 Kenyans selected to create African Inspired stickers for New Chat App

    Mobile Phones contribute to the realisation of UN SDGs – 2020 GSMA report says

    realme awards fans to Valentines through DaretoLove Campaign

    realme awards fans to Valentines through DaretoLove Campaign

    Opera launch its new Chat App to rival WhatsApp

    Opera launch its new Chat App to rival WhatsApp

    IoT predictions for 2021: Smarter tech will make better business

    IoT predictions for 2021: Smarter tech will make better business

    Nokia to launch its low cost smartphones in Kenya

    Nokia to launch its low cost smartphones in Kenya

  • World Business
    OPPO Announces Global Partnership with Volkswagen

    OPPO Announces Global Partnership with Volkswagen

    World Engineering Day to Be Celebrated in Kenya

    World Engineering Day to Be Celebrated in Kenya

    How NASA Technology Can Help Save The World’s Largest Shark

    How NASA Technology Can Help Save The World’s Largest Shark

    After fight with US Authorities Huawei CEO now want talks with Biden

    After fight with US Authorities Huawei CEO now want talks with Biden

    Ford Vehicles to be powered by Android and Google apps in new deal

    Ford Vehicles to be powered by Android and Google apps in new deal

    Columbia Africa banks on primary and preventive healthcare to grow market share

    Columbia Africa banks on primary and preventive healthcare to grow market share

    DHL Express Named Best Employer in The World

    DHL Express Named Best Employer in The World

    Meet the founder of Safari Doctors Umra Omar

    Meet the founder of Safari Doctors Umra Omar

    Kenya to receive Ksh 1 billion from Google for economic recovery

    Kenya to receive Ksh 1 billion from Google for economic recovery

  • KBF
    • All
    • Agribusiness
    • Banking
    • Insurance
    • Manufacturing
    • Opinion
    Safaricom PLC Announces A 14.4 Per Cent Increase In Half-year Net Profit

    Safaricom cracks whip on rogue MPESA agents

    Commodity prices to go up following new charges

    Commodity prices to go up following new charges

    AAR Insurance embrace paperless model with new mobile app

    AAR Insurance embrace paperless model with new mobile app

    Bill in parliament seeks to have CBK regulate Mobile lenders

    Minet feted Insurance Broker of the Year

    Minet feted Insurance Broker of the Year

    Samsung Named Top Global TV Manufacturer

    Samsung Named Top Global TV Manufacturer

    Aden Duale pushing to make pornography an expensive affair in Kenya

    Aden Duale pushing to make pornography an expensive affair in Kenya

    Locally assembled Proton Saga saloon car released to the market  

    Locally assembled Proton Saga saloon car released to the market  

    Hennessy becomes NBA’s first global spirit partner

    Hennessy becomes NBA’s first global spirit partner

    • Agribusiness
    • Banking
      Safaricom PLC Announces A 14.4 Per Cent Increase In Half-year Net Profit

      Safaricom cracks whip on rogue MPESA agents

      Bill in parliament seeks to have CBK regulate Mobile lenders

      Faulu Bank to lend Ksh 3 billion to SMEs to boost growth

      Faulu Bank to lend Ksh 3 billion to SMEs to boost growth

      DTB Bank set to shut down 6 branches

      DTB Bank set to shut down 6 branches

      Secure your future by saving with Metropolitan National Sacco

      Housing Finance launches new money transfer service

      Housing Finance launches new money transfer service

      Businesses to benefit from Ksh1.6 Billion in Aid from DTB

      Businesses to benefit from Ksh1.6 Billion in Aid from DTB

      Leak: 53 Kenyan banks, individuals Named in FinCEN Files For Illegal Sh6 Trillion Transactions

      Impending layoffs at Absa Bank Kenya Plc

      Family Bank opens its 92nd branch

      Family Bank opens its 92nd branch

    • Insurance
      AAR Insurance embrace paperless model with new mobile app

      AAR Insurance embrace paperless model with new mobile app

      Minet feted Insurance Broker of the Year

      Minet feted Insurance Broker of the Year

      Faulu Bank to lend Ksh 3 billion to SMEs to boost growth

      Faulu Bank to lend Ksh 3 billion to SMEs to boost growth

      Pension Schemes Maintain Positive Performance in Q4 of 2020

      Pension Schemes Maintain Positive Performance in Q4 of 2020

      DigiTrust: ICEA Lion Group bets on technology in the rewarding money market field

      DigiTrust: ICEA Lion Group bets on technology in the rewarding money market field

      ICEA Lion Life appoints a new CEO

      ICEA Lion Life appoints a new CEO

      Exposed: Insurance Company on The Spot for Fruatrating clients

      Exposed: Insurance Company on The Spot for Fruatrating clients

      Octagon feted in 2020 World Pension Summit Innovation Awards

      Octagon feted in 2020 World Pension Summit Innovation Awards

      What do you need to know before purchasing car insurance?

      What do you need to know before purchasing car insurance?

    • Manufacturing
    • Opinion
      IoT predictions for 2021: Smarter tech will make better business

      IoT predictions for 2021: Smarter tech will make better business

      KRA Goes After Rich Individuals, Firms Over Sh250 Billion

      Digital Services Tax a desperate move caused by bad governance

      OPINION: Managing the end-of-life of products to accelerate a circular economy in Kenya

      OPINION: Managing the end-of-life of products to accelerate a circular economy in Kenya

      Why Digital Services Tax is a retrogressive policy

      Why Digital Services Tax is a retrogressive policy

      How Citizen TV Became The Most Watched in Kenya

      How Citizen TV Became The Most Watched in Kenya

      This is the new Safaricom logo

      Fail or win? Mixed Reactions over Safaricom’s new logo

      After fuliza, Safaricom introduces another way to borrow money

      OPINION: Why Safaricom’s Fuliza is a rip off!

      OPINION: Conserve Nature Even as you Work to Achieve SDGs

      OPINION: Conserve Nature Even as you Work to Achieve SDGs

      Crisis as young Kenyans now embrace Crime as lifestyle

      Crisis as young Kenyans now embrace Crime as lifestyle

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Home World Business

Oil prices extend rally on U.S. election day

by Montui
November 4, 2020
in World Business
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Oil prices rose near 2% on Tuesday, advancing with other financial markets on U.S. Election Day although traders were bracing for volatility depending on the voting results and as surging coronavirus cases around the world fed worries about fuel demand.

Brent futures rose 74 cents, or 1.9%, to settle at $39.71 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 85 cents, or 2.3%, to settle at $37.66.

The oil price moves came ahead of data expected to show U.S. crude stockpiles rose 900,000 barrels last week after gaining 4.3 million barrels in the prior week.

The American Petroleum Institute (API), an industry group, will release its inventory report later Tuesday, ahead of government data from the U.S. Energy Information Administration (EIA) on Wednesday.

After a rancorous presidential campaign that exposed the depth of the political divisions in the United States, Americans streamed to the polls on Tuesday to choose either incumbent Donald Trump or challenger Joe Biden to lead a pandemic-battered nation for the next four years.

“The election is dominating markets today. Crude oil is up … The general feeling seems to be that the final outcome could come as early as tomorrow,” said Robert Yawger, director of energy futures at Mizuho in New York, noting a Democratic sweep could lead to a super-sized stimulus package that would be positive for oil.

Major U.S. stock market indices traded higher, with the S&P 500 .SPX up 1.8%.

The U.S. dollar, meanwhile, dipped 0.6% against a basket of currencies .DXY as risk appetite grew on bets that Biden will win

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A weaker dollar makes oil cheaper for holders of other currencies, which traders said was helping to boost crude prices.

The threat of additional lockdowns that could depress energy demand capped oil price gains after Italy, Norway and Hungary tightened COVID-19 restrictions.

Oil prices, which dropped over 10% last week, got a reprieve this week after OPEC member Algeria came out in support of deferring a planned increase in OPEC+ oil output from January and Russia’s energy minister raised the possibility with the country’s oil companies.

The Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, together known as OPEC+, are due to taper cuts of 7.7 million barrels per day (bpd) by around 2 million bpd from January.

Sources said OPEC and Russia are considering deeper oil output cuts early next year to try to strengthen the oil market.

Via Reuters


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