Pre-Trading Thoughts

The Ministry of Petroleum announced on Friday an increase in fuel prices affecting various octanes and diesel. Also, the Committee decided to move mazot prices for the brick and cement kiln industries and other sectors by EGP1,500 per ton starting Friday, while keeping prices unchanged for electricity and food sectors. On higher fuel prices, public transport users will also see a price hike. Egypt's revenues from the Sukari mine increased in 2023 to USD139 million, an increase of 134% YoY. Mi...