BREAKING NEWS

Here are Sali Berisha's connections with Ervis Martinaj, Idajet Beqiri reveals for the first time the sensational detail and shows how "Pandora's Box" will be opened by SPAK and foreign services for crimes, murders, affairs and dirty deals in Albania

Here are Sali Berisha's connections with Ervis Martinaj, Idajet Beqiri
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BREAKING NEWS

Who is the name "VIP" who is expected to be arrested in SP? Edi Rama paves the way for SPAK for names immersed in affairs, ministers, deputies and mayors are warned that they will not have political support

Who is the name "VIP" who is expected to be arrested in SP? Edi Rama
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BREAKING NEWS

Sali Berisha, the biggest enemy of political prisoners, this is how he opposed their release in the 90s and how he zealously defended the sectarian line of the Labor Party

Sali Berisha, the biggest enemy of political prisoners, this is how he opposed
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BREAKING NEWS

Here is the evidence that the British have in Sali Berisha's file, such as the corruption with Fazli? and the connections with the Hasian crime boss in London alarmed the English, the document reveals

Here is the evidence that the British have in Sali Berisha's file, such as
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BREAKING NEWS

Expert Fatos Çoçoli gives the latest news for pensioners, from the only way to get a pension for the elderly who do not appear in the registers during the time of agricultural cooperatives, to the new scheme to increase more income for residents and th...

Expert Fatos Çoçoli gives the latest news for pensioners, from the
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BREAKING NEWS

Two high-ranking officials have cleaned 3.7 million euros in properties, the family members were also included in the scheme, this is how they tried to save some assets, the Financial Intelligence Agency reveals the hard details

Two high-ranking officials have cleaned 3.7 million euros in properties, the
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BREAKING NEWS

Ilir Demalia explodes the "bomb", Sali Berisha will be released, here are the two people the former prime minister is using to close his dirty deals, how millions of euros are being thrown behind the scenes

Ilir Demalia explodes the "bomb", Sali Berisha will be released, here
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BREAKING NEWS

Romeo Kara warns of strong developments: Here is the well-known politician who will be arrested by the SPAK, his connections with the characters of the world of crime that were sunk by the Special Prosecutor's Office and the details of how he cleaned u...

Romeo Kara warns of strong developments: Here is the well-known politician who
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Ekonomia

The mega-robbery of Albanians, oil towards $50 a barrel, captures the lowest levels since 2020, the Transparency Board keeps prices in the stratosphere

The mega-robbery of Albanians, oil towards $50 a barrel, captures the lowest

Oil has marked a drastic decrease in recent days due to concerns that the global banking sector could lead the world to recession. This steep drop had not happened since February 2020. Oil trading at 64 dollars a barrel should reflect in our country, but meanwhile in Albania the Transparency Board has fallen into a "lethargic sleep" and today as we speak, oil is sold for 182 lek a liter. But on the contrary, in cases where there is an increase in the price of oil in the global market, the reaction of the board is in record time. So the price of oil in our country is very high compared to other countries and this situation is having a negative effect on the economy. One thing is certain, oil in Albania will not be reduced acceptable to the pockets of Albanians.

The sharp drop in oil

West Texas Intermediate crude oil traded at $64.59 a barrel yesterday, down $2.15. Meanwhile, according to experts, the barrel is expected to go towards 50 dollars. On the other hand, London's Brent oil has started the week down by about 2.3 dollars and is trading at about 70 dollars per barrel, the lowest level since December 2021. Foreign media write that last week the prices of crude oil by 13.55%, the biggest drop since February 2020. A sign of the fear that gripped the markets from the ongoing fallout from the banking sector. Oil's fall yesterday was a further sign of continued pessimism about potential demand concerns and re-emergence of recessionary risks. Over the weekend, the Federal Reserve announced that the main central banks (SNB, BoC, BoE, BoJ,  

What is happening with oil?

Last week we heard from Saudi Energy Minister Prince Abdulaziz bin Salman, who discussed the G7 price cap on Russian oil and tighter global oil production capacity. Prince Abdulaziz reiterated the need to adhere to OPEC's October 2022 decision to cut production by 2 million barrels per day by the end of 2023. Another point of interest is that oil prices are currently trading slightly below the limit originally designated by the US to replenish the Strategic Petroleum Reserve (SPR). The US is expected to see further declines in SPR between April 1 and June 30 as prices remain favorable to replenish stocks. On Friday, comments from US Energy Envoy Hochstein claimed that President Biden is committed to replenishing the SPR, which could theoretically increase oil prices. The question is, will such an incentive be sustainable given current market conditions?

prediction

Technically, UTI broke the 2022 lows last week after seeing a potential recovery from $68 a barrel. On Friday it went to $65 per barrel. It traded around $64.40 yesterday as risk sentiment showed signs of improvement heading into the US open. However, any further moves are likely to depend on the overall improvement in the global banking sector, which has fueled fears and pessimism that it could tip the world into recession.