Oil Prices Fall After Misleading Trade War Rumors
Oil prices rose on Friday after the U.S. and China seemed to hammer out a trade deal that postponed tariffs. But after studying the details – or lack thereof – Continue Reading
Oil falls more than 2% on U.S.-China trade deal doubts, stronger dollar
Oil prices lost about 2% on Monday on worries that global crude demand could stay under pressure as few details about the first phase of a U.S.-China trade deal did Continue Reading
IEA Cuts Oil Demand Forecast as Economy Eclipses Saudi Attack
The International Energy Agency cut forecasts for growth in global oil demand, noting that fears of an economic slowdown are overshadowing the loss of supply during last month’s attack on Continue Reading
U.S. Imposes Penalties on Turkey, Aiming to Stop Incursion Into Syria
The administration’s first punitive actions against Turkey and its effort to start talks came amid widespread criticism on Capitol Hill that Mr. Trump’s decision left Kurdish militias that had aided Continue Reading
Trump sanctions fail to slow Turkey assault; Moscow’s allies advance
Turkey ignored new sanctions from the United States to press on with its assault on northern Syria on Tuesday, while the Russia-backed Syrian army entered one of the most hotly Continue Reading
Scrambling to limit damage, Trump tells Turkey to stop its Syria invasion
U.S. President Donald Trump on Monday demanded Turkey stop its military incursion in Syria and imposed new sanctions on the NATO ally as Trump scrambled to limit the damage from Continue Reading
Assad Forces Surge Forward in Syria as U.S. Pulls Back
Syrian government forces streamed into the country’s northeast on Monday, seizing towns where they had not set foot in years and filling a vacuum opened up by President Trump’s decision Continue Reading
When Will Saudi Oil Production Return To Pre-Attack Levels?
Saudi Arabia will restore its oil production to levels slightly above the output just before the attacks on its oil facilities in mid-September, Saudi Energy Minister Prince Abdulaziz bin Salman Continue Reading
Is Iran Considering An Attack On Saudi Arabia?
By all accounts, major general Qasem Soleimani – commander of Iran’s Islamic Revolutionary Guards Corp (IRGC) crack ‘Quds’ force that is responsible for foreign military and clandestine operations – is Continue Reading
Saudi Arabia puts domestic stock exchange at center of Aramco IPO
Saudi Arabia is focused on a domestic stock market listing for its state oil company, Aramco, and no decisions have been made for any international share sale, the Saudi ambassador Continue Reading
China’s Oil Imports Jump 11%
China imported 10.08 million bpd of crude oil last month, up 11 percent on the year, customs data showed as cited by S&P Global Platts. This was the first time Continue Reading
Rescuers slog through mud as Japan typhoon death toll rises to 66
The death toll in the worst typhoon to hit Japan for decades climbed to 66 on Tuesday as rescuers slogged through mud and debris in an increasingly grim search for Continue Reading
Tropics come alive as Atlantic and Pacific systems may draw downpours into Lower 48 states
A system off the coast of Africa appears to have a well-developed circulation; while it’s lacking substantial thunderstorm activity toward its core, the system will likely develop that in the Continue Reading
Greed Or Incompetence: What’s Behind The California Power Cuts?
Most of the news surrounding the electricity shutoffs in California —done to avert the ignition of additional wildfires by aging electrical infrastructure—has focused on two things: climate change and the Continue Reading
Is The U.S. Gas Boom Already Over?
Natural gas production in the Marcellus and Utica shale plays is growing at a slower pace than before as low prices persist, but demand has yet to catch up to Continue Reading
The U.S. Sets Its Sights On LNG Domination
The United States will be the global leader in newly-built liquefied natural gas (LNG) liquefaction capacity between 2019 and 2023, data and analytics company GlobalData said in a new report. Continue Reading
After power is restored to large swath of California, PG&E claims shut-off prevented wildfires
The utility behind last week’s intentional power shut-off across Northern and Central California has restored electricity to all of its customers as shifts in weather have lessened the likelihood its Continue Reading
Nor’easter to undergo ‘bombogenesis’ and lash New England with heavy, wind-swept rains
European model simulation of the Nor’easter at 8 a.m. Thursday. A powerful fall nor’easter is set to pound New England Wednesday night, unleashing heavy rain and possibly damaging winds. It’s Continue Reading
British police order a halt to climate change protests in London
British police have ordered a halt to Extinction Rebellion protests in London after a week of civil disobedience by climate change activists who have targeted government building and major financial Continue Reading
Russia: OPEC+ Deal Will Not Be Revised
OPEC and its Russia-led non-OPEC partners in the production cut pact are currently not discussing changing the terms of their agreement, Russian Energy Minister Alexander Novak said on Monday. The Continue Reading
Oil rises 2% after reports of Iranian tanker attack
Oil prices rose more than 2% on Friday after Iranian media said a state-owned oil tanker was attacked in the Red Sea near Saudi Arabia, while optimism surrounding the U.S.-China Continue Reading
Oil Jumps on Trade Hopes and Tanker Attack
Oil prices rose slightly on Friday morning following attacks on an Iranian oil tanker. ( Friday, October 11th, 2019 Oil prices rose in early trading on Friday on hopes that Continue Reading
Iranian oil tanker hit off Saudi coast, may have been missiles: Iranian media reports
An Iranian-owned oil tanker was struck, probably by missiles, in the Red Sea off Saudi Arabia’s coast on Friday, Iranian media said, an incident that if confirmed will stoke tension Continue Reading
Fears of Islamic State Resurgence Grow in Turkey’s Invasion of Kurdish-Held Syria
The Turkish invasion of Kurdish-held territory in northern Syria raised new fears of a resurgence of the Islamic State on Friday, as five militants escaped from a Kurdish-run prison and Continue Reading
Trump to authorize sanctions against Turkey if incursion into Syria destabilizes region
Smoke rises from the Syrian town of Ras al-Ain, in a picture taken from the Turkish side of the border in Ceylanpinar on Friday, the third day of Turkey’s military Continue Reading
Is This The World’s Newest Oil Benchmark?
Abu Dhabi, the oil producing member of the United Arab Emirates, has plans to take on global benchmarks Brent and West Texas Intermediate with its very own contract, Murban, Bloomberg Continue Reading
US sending 3,000 extra troops to Saudi Arabia following Abqaiq attacks: defense secretary
The US will send an additional 3,000 troops to Saudi Arabia in response to the September 14 attack on Saudi oil facilities which disrupted roughly 5% of global crude oil Continue Reading
Iran’s oil exports face new security threat
Iran’s oil exports — already hurting from US sanctions — were struck a further blow Friday when one of the country’s tankers, the Sabiti, was rocked by explosions as it Continue Reading
OPEC September 2019 Oil Production
Data for the OPEC charts below were taken from the October OPEC Monthly Oil Market Report OPEC 14 crude oil production was down1,318,000 barrels per day in September. Most of Continue Reading
Iran decries ‘cowardly attack’ on oil tanker
An Iranian government spokesman on Saturday described as a “cowardly attack” an incident that Iranian media have called the apparent targeting by missiles of an Iranian-owned oil tanker, and said Continue Reading
Fears of Islamic State Resurgence Grow in Turkey’s Invasion of Kurdish-Held Syria
The Turkish invasion of Kurdish-held territory in northern Syria raised new fears of a resurgence of the Islamic State on Friday, as five militants escaped from a Kurdish-run prison and Continue Reading
Oil Thieves Cause Fire On Nigerian Oil Block
A fire has broken out on an oil lease in the southeastern state of Imo in Nigeria, during what preliminary investigation believes to be illegal bunkering activity by thieves, Nigerian Continue Reading
Secret Recordings Describe Extensive Bribery at Mexico’s Pemex
The audio recordings are part of the evidence in a lawsuit filed last year against the Mexican government by a Mexican oil-field drilling company called Oro Negro. The company claims Continue Reading
Trump Says U.S. Reaches ‘Phase One’ China Trade Deal
*Trump Says Progress Made on Currency, Foreign Exchange *Treasury Secretary Mnuchin Says Discussions Are ‘Almost Complete’ *Trump: ‘Good Progress’ on Technology Transfer Discussions with China *Mnuchin: U.S. Will Not Be Continue Reading
China makes few concessions in trade truce with US
After five months of constant escalations in their long-running trade war with the US, Chinese officials on Friday finally secured a respite. In return for a series of modest concessions, most Continue Reading
Trump and China Have a ‘Phase One Deal.’ The World Economy Is Still at Risk.
Financial markets are downright exuberant about the arrival of some trade peace — at least for now — between the United States and China. President Trump boasted Friday afternoon of Continue Reading
Typhoon Hagibis: Biggest Japan storm in decades makes landfall
Watch Rupert Wingfield-Hayes’ report from amid the heavy rain hitting Tokyo Watch Rupert Wingfield-Hayes’ report from amid the heavy rain hitting Tokyo Torrential rain and tornado-like winds are lashing large Continue Reading
Wind-driven Los Angeles wildfire leaves one dead, forces 100,000 to flee
A fierce, wind-driven wildfire swept through foothills and canyons along the northern edge of Los Angeles on Friday, engulfing homes, closing roads and devouring acre upon acre of dry brush Continue Reading
Oil & Gas Rig Count Rises For The First Time In Eight Weeks
The US oil and gas rig count rose for the first time in eight weeks, according to Baker Hughes, increasing by just 1 for the week, according to Baker Hughes, Continue Reading
Energy Firms in US 10th Dist. See Decreased Activity in 3Q
Oil and gas firms in the U.S.’ 10th District saw a moderate decrease in activity for the third quarter of 2019, according to results of the Kansas City Fed’s 3Q Continue Reading
Unprecedented Blackouts And $6 Gasoline: California’s Energy Crisis
Millions of Californians may have just suffered an unprecedented, induced blackout by the state’s largest (and bankrupt) utility, PG&E, just so it isn’t blamed for starting even more fires causing Continue Reading
Refinery News Roundup: US refinery outages peak at 3.797 million b/d this week as IMO 2020 nears
New York — US refinery outages for the season peaked this week, reaching 3.797 million b/d offline for planned and unplanned work, about half of which is in the US Continue Reading
Huge Independent Refiner Prepares For Revolution In Markets
One of the world’s largest independent oil traders, Gunvor Group, plans to revamp its refinery in Rotterdam to adapt it to produce low-sulfur fuel oil that would be compliant with Continue Reading
Crude oil futures up about 2% after tanker explosion near Jeddah
Crude oil futures extended gains in mid-afternoon trade in Asia Friday following the news of a Suezmax tanker catching fire and spilling oil after being hit by a “foreign object” Continue Reading
Largest Oil Traders: Oil Prices Aren’t Going Anywhere
Oil prices are not going anywhere, at least until this time next year. Brent Crude will still trade range-bound in the $50s a year from now, the heads of the Continue Reading
Oil prices rise as OPEC pledges decision on supply
Oil prices rose on Thursday, buoyed by comments by the head of OPEC that the organization could take action to balance oil markets and will decide in December on supply Continue Reading
Oil Shipping Costs Soar to Highest Levels in 11 Years
“The market has gone bonkers by shock events like the Cosco tankers being blacklisted,” said George Lazaridis, head of research and valuations at Athens, Greece-based Allied Shipbroking. “It’s a bubble Continue Reading
How Much Crude Oil Does Plastic Production Really Consume?
Many social media users had a field day recently when Greta Thunberg tweeted a picture in which the 16-year-old activist was snacking on food in plastic packaging. Activists against the Continue Reading
Turks give military their blessing after decades of Kurdish conflict
Ergin Yaman still remembers the horror of the bombing near his flower shop in central Ankara three years ago. That day, the 42-year-old waded through bodies as he rushed to help Continue Reading
Turkey’s Erdogan Threatens EU With Wave of Refugees if It Doesn’t Support Syria Offensive
Mr. Erdogan said 109 Kurdish fighters had been killed, as Turkish troops captured villages on the Syrian side of the border and moved deeper into Syria. The Syrian Observatory for Continue Reading