Recession fears remain elevated for key markets. Recession fears remain elevated for key markets, including the U.S. and EU, raising concerns over the strength of future oil demand. That’s what Continue Reading
Oil is heading for a weekly loss as lingering concerns over an economic slowdown overshadowed signs of improving US demand. West Texas Intermediate futures dropped to near $89 a barrel Continue Reading
Oil prices rose on Thursday as robust U.S. fuel consumption data and expected falls in Russian supply late in the year offset concerns that a possible looming recession could undercut Continue Reading
A top executive for Toyota TM -1.02%▼ Motor Corp. in North America warned Thursday that buyers might not shift to fully electric vehicles as quickly as some rivals expect and Continue Reading
A recent oil-price slide reflects fears of economic slowdown and masks physical market fundamentals, OPEC’s new secretary general told Reuters, as he took a relatively optimistic view on the outlook Continue Reading
Last week’s attack on author Salman Rushdie and the indictment of an Iranian national for plotting to murder former national security adviser John Bolton have given the Biden administration new Continue Reading
Energy-rich Middle East states are set to reap up to $1.3tn in additional oil revenues over the next four years, according to the IMF, as they enjoy a windfall that Continue Reading
Iraq’s nationwide oil production jumped by 100,000 barrels per day (bpd) in July, rising to 4.72 million bpd, according to field-by-field data compiled by Iraq Oil Report. The increase in Continue Reading
Mozambique is poised to ship its first cargo of liquefied natural gas overseas, joining the ranks of the world’s exporters as a global energy crunch pushes prices of the fuel Continue Reading
Emirates Airlines plans to suspend all flights to and from Nigeria because of an inability to repatriate funds out of the country, the carrier said on Thursday. The Dubai-based airline Continue Reading
An initiative backed by Coca-Cola, Unilever and Danone to recycle the plastic waste choking Ghana is better at deflecting blame and avoiding regulation than actually recycling. Agnes Kwansah dragged her Continue Reading
Southwestern China is experiencing a massive heatwave, sparking a power crisis in the region. The Chongqing municipal government has ordered factories to suspend production to conserve power. Moody’s Vice President Continue Reading
Ships crept down the middle of the Yangtze on Friday after China’s driest summer in six decades left one of the mightiest rivers barely half its normal width and set Continue Reading
The Inflation Reduction Act has made it through Congress and is now heading to President Biden for one final signature. The bill is being hailed as a game changer for Continue Reading
Falling far short of market expectations, the United States added only 18 billion cubic feet into its natural gas inventories for the week ending August 12, the Energy Information Administration Continue Reading
US natural gas working stocks rose by just 18 Bcf during the week ended Aug. 12, well below market expectations, but the build was insufficient to keep the momentum going Continue Reading
U.S. crude oil refineries plan to keep running near full throttle this quarter, according to executives and estimates, as refiners set aside worries about recession and sliding retail prices to Continue Reading
The night has a different colour in parts of Berlin where the streets are lit by gas: the light more ethereal and the shadows deeper. But these areas could be Continue Reading
U.N. chief met Zelenskiy, Turkey’s Erdogan in Lviv Erdogan says they discussed ways to end conflict Zelenskiy says he agreed parameters of IAEA mission Moscow rejects calls for demilitarised zone Continue Reading
Britain is turning to old coal-fired power units as a “last resort” in case other sources cannot provide enough electricity through the winter as the country faces a wider energy Continue Reading
Seven out of 10 Germans are using less energy due to decades-high inflation in Europe’s largest economy while half are spending less on leisure activities, according to a new survey. Continue Reading
European natural gas futures extended their gains to a record-high settlement as an energy-supply crunch continued to batter the region, amid signs that the is fuel becoming too costly for Continue Reading
A massive storm complex has traveled a nearly 1,000-mile path across Europe, reportedly killing numerous people and causing devastation on the French island of Corsica and to landmarks in Venice, Continue Reading
Russia needs strategic oil storage facilities to help its oil industry and oil trade with the Western sanctions, Russian experts and industry officials say. “As of today, it is necessary, Continue Reading
London’s transport network ground to a halt on Friday as train and bus workers held strikes over pay and conditions, the latest in a summer of labour market disputes as Continue Reading
Britain faces a “humanitarian crisis” this winter when the difficult choices forced upon low-income households by soaring energy bills could cause serious physical and mental illness, a healthcare lobby group Continue Reading
German power prices climbed to a fresh record, putting more pressure on industrial production and consumers struggling with a cost-of-living crisis. Rallying gas and coal prices and little sign of Continue Reading
The water level at a key German chokepoint on the Rhine River is forecast to surge early next week, making it significantly easier for barges carrying vital cargoes to traverse Continue Reading
BASF’s hub in Ludwigshafen, Germany, could be run at 50% under contingency plans for possible gas rationing. This column is part of the sixth annual Heard on the Street stock-picking Continue Reading
The Iberian Peninsula holds around 30% of total Europe’s LNG processing capacity and yet it is not well connected to the rest of Europe. A plan to build a pipeline Continue Reading
Oil rose as investors weighed lingering concerns about a global economic slowdown against bullish signals from the US and OPEC. West Texas Intermediate climbed 1.1% to over $89 a barrel, Continue Reading
Oil prices rose on Thursday as robust U.S. fuel consumption data and expected falls in Russian supply late in the year offset concerns that a possible looming recession could undercut Continue Reading
Crude oil prices moved higher today, after the Energy Information Administration estimated a draw in oil inventories of 7.1 million barrels for the week to August 12. This compared with Continue Reading
Nigeria was hit by a nationwide electricity blackout on Wednesday after workers at the Transmission Company of Nigeria (TCN) shut the national grid as they began an indefinite strike over Continue Reading
While OPEC often finds itself the usual suspect when it comes to high crude oil and gasoline prices, it is not behind the current inflation trend, OPEC Secretary General Haitham Continue Reading
Iran could increase its oil exports in August as its crude is now estimated to be much cheaper than Russia’s in China, the key oil customer for both exporters, oil Continue Reading
Again, Nigeria has hit a new oil production loss record as a result of disruptions to its crude assets due to maintenance challenges, community issues and prolonged force majeure. Latest Continue Reading
Commuters brave a heat wave in Allahabad in India’s Uttar Pradesh state on June 7. Air conditioners in the Himalayas and fans for the cows: How communities in India and Continue Reading
Residents living near a tributary of the Yangtze river in the southwestern region of Chongqing clambered along the dry riverbed on Thursday amid an unprecedented drought across the region that Continue Reading
An exposed riverbed, due to low water levels caused by drought, along the Jialing River, Aug. 17. Bloomberg News Chinese President Xi Jinping called on local authorities to work to Continue Reading
The company, in a filing on Thursday, said core profit was between about Rmb4-5bn and Rmb5bn ($6634mn and $736mn) in the first six months of 2022, down from Rmb15.2bn a Continue Reading
Faced with China’s most searing heat wave in six decades, factories in the country’s southwest are being forced to close. A severe drought has shrunk rivers, disrupting the region’s supply Continue Reading
Highlights Several parts of China face unprecedented heatwaves Authorities order industrial production restrictions amid power crunch Sichuan industry most affected due to power supply issues Authorities in several parts of Continue Reading
Toyota Motor Corp. and Contemporary Amperex Technology Co. , the world’s top battery maker, are closing plants in China’s Sichuan province as a drought-induced power crisis worsens. The Japanese automaker Continue Reading
U.S. importers seeking relief from bottlenecks at West Coast gateways are triggering new backups at East Coast and Gulf Coast ports, adding to strains on the country’s troubled supply chains. Continue Reading
JODI: global crude inventories fell by 21.8 million barrels to 915.8 million barrels in June. The low level of crude inventories coincided with record-high gasoline prices in the U.S. in Continue Reading
A U.S. court of appeals has ruled that President Joe Biden’s pause on oil and gas leases on public land can be reinstated, just days after the passage of a Continue Reading
Excessive heat watch, heat advisory through Aug. 19 SP15 spot reaches 11-month high of $149.97/MWh Peakload reached 23-month high of 45.06 GW Aug. 16 The California Independent System Operator has Continue Reading
A federal appeals court ruled that lawsuits by Delaware and Hoboken, N.J., seeking compensation from oil companies for the impacts of climate change should be decided in state, not federal Continue Reading
U.S. oil companies are working around a century-old shipping law to supply fuel to the U.S. East Coast, according to data from Refinitiv and oil trading sources, as high demand Continue Reading
