Oil Prices for Sep. 30, 2020: Brent Crude, WTI
Oil extended its decline below $39 a barrel in New York, heading for the first monthly loss since April, as the world’s biggest trading houses signaled a meaningful recovery in Continue Reading
Oil futures fall as US gasoline inventories build, COVID-19 cases surge
Oil futures slipped during mid-morning trade in Asia Sept. 30, extending overnight declines, as a build in US gasoline inventories fueled bearish sentiment in a market already reeling from the Continue Reading
OIL FUTURES: Energy prices retreat as fundamental outlooks deteriorate
Oil futures settled sharply lower Sept. 29 as fundamental outlooks dimmed in light of resurgent coronavirus infections and rising Middle East crude supply. Receive daily email alerts, subscriber notes & Continue Reading
The World’s Largest Oil Traders Don’t Expect Prices To Rise Until 2021
The top executives at some of the world’s largest independent oil traders do not expect global oil demand to materially improve over the next six to nine months—Instead, they expect Continue Reading
Coronavirus: Hundreds of thousands of airline jobs at risk, warns industry body
The IATA downgraded its forecasts after “a dismal end to the summer travel season” Hundreds of thousands of aviation jobs are at risk without more state aid, a global industry Continue Reading
Mixing of the planet’s ocean waters is slowing down, speeding up global warming, study finds
An iceberg floats past Bylot Island in the Canadian Arctic Archipelago in 2017. (David Goldman/AP) The layers of the world’s oceans aren’t mixing like they used to due to climate Continue Reading
Another Oil Major Sees Peak Oil Demand On The Horizon
French energy giant Total SE (formerly Total S.A.) spread more doom and gloom into the oil markets today, foretelling of the oil industry’s ultimate horror—peak oil demand. In its Energy Continue Reading
The Hydrogen Boom Is On Track To Hit $11 Trillion
It’s official: The big hydrogen techlash is now history. For decades, there was an undeniable and growing animus towards anything hydrogen by the investing universe, with the technology relegated to Continue Reading
Energy Transition Picks Up Steam
Precisely when the world passes peak oil demand is still very much a contested debate, but the one thing that is clear is that many of the macro trends are Continue Reading
Will the new oil discoveries in Iran change energy geopolitics?
A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf, Iran, July 25, 2015. (Reuters Photo) The Continue Reading
U.A.E. Boosted Arms Transfers to Libya to Salvage Warlord’s Campaign, U.N. Panel Finds
The United Arab Emirates ramped up deliveries of military supplies to Libyan warlord Khalifa Haftar this year, according to a confidential United Nations report, flouting an arms embargo as the Continue Reading
Turkey and Russia preside over a new age of mercenary wars
A long-“frozen” conflict flared back to life this week. Dozens have been reportedly killed amid ongoing clashes between Azerbaijani and Armenian forces in Nagorno-Karabakh, a mountainous enclave of ethnic Armenians Continue Reading
Gasoline Trouncing Diesel in Asia Amid Uneven Demand Recovery
Asian gasoline has surged to a record premium to diesel as the use of private vehicles rise while public transport and industrial activity remain sluggish, highlighting the uneven demand recovery Continue Reading
Australia Pivots To Hydrogen In Carbon Neutral Push
Like it or not, on a global level we are irrefutably in the beginning stages of a sweeping energy transition that favors clean energy alternatives over emissions-heavy fossil fuels. The Continue Reading
China’s Economic Rebound Picks Up Pace
China’s economy gathered more steam in September as a rebound in global demand and the government’s supportive measures bolstered factory activity and helped push sentiment in the service sector to Continue Reading
Marathon Petroleum, top U.S. refiner, begins widespread job cuts
Marathon Petroleum Corp MPC.N , the largest U.S. oil refiner, on Tuesday began cutting jobs across the company, according to people familiar with the matter, as the COVID-19 pandemic sapped Continue Reading
Rejoining Paris Would Be Easy for Biden. The Hard Part Is Averting Climate Disaster
For a President Joe Biden, rejoining the Paris Agreement would be almost as simple as signing an autograph. The hard part would be everything else. With global warming already fueling wildfires, Continue Reading
Joe Biden Could Never Ban Fracking
I have always viewed politicians that promise to ban hydraulic fracturing — commonly known as “fracking” — with some level of suspicion. In fact, a year ago as candidates were Continue Reading
Offshore Oil & Gas Pipelines Will See A Speedy Recovery
The global oil and gas market demand for large-diameter offshore pipeline, known as trunkline, is set for an annual drop of 26% this year, with the size of total installations Continue Reading
Rebound in industrial gas demand stumbles following busy Atlantic storm season
A recent flurry of hurricanes and tropical storms in the Gulf of Mexico are likely to be blamed for a floundering recovery in US industrial gas demand as refineries and Continue Reading
Carbon Border Tax Latest: EU Green Deal Measure to Protect Steel, Cement – Bloomberg
The first glimpse is emerging of a levy the European Union is drawing up to ensure its Green Deal environmental rules aren’t undone by nations with weaker standards. The measure being drafted Continue Reading
Exxon Touts Carbon Capture as a Climate Fix, but Uses It to Maximize Profit and Keep Oil Flowing
Sprawled across the arid expanse of southwestern Wyoming is one of the world’s largest carbon capture plants, a hulking jumble of pipes, compressors and exhaust flues operated by ExxonMobil. The Continue Reading
Solar Could Be Europe’s Top Power Source In 5 Years
Solar power could be Europe’s biggest energy source in terms of installed capacity by 2025 if the European Union (EU) stays on track for its net-zero targets, the head of Continue Reading
Shell plans to cut up to 9,000 jobs as oil demand slumps
Royal Dutch Shell said Wednesday it’s planning to cut between 7,000 and 9,000 jobs worldwide by the end of 2022 following a collapse in demand for oil and a subsequent Continue Reading
Vilified Early Over Lax Virus Strategy, Sweden Seems to Have Scourge Controlled
The scene at Norrsken House Stockholm, a co-working space, oozed with radical normalcy: Young, turtleneck-wearing hipsters schmoozed in the coffee corner. Others chatted freely away, at times quite near each Continue Reading
Crude edges lower in Asia trade as bearish fundamentals persist
Crude oil futures edged lower during mid-morning trade in Asia Sept. 29 amid persistently weak demand and supply fundamentals, surrendering some of the gains made overnight on the back of Continue Reading
Oil Prices for Sep. 29, 2020: Brent Crude, WTI
Oil edged lower toward $40 as a global market rally cooled and traders look to U.S. inventory data for clues on-demand recovery. Futures slipped 0.7% in New York, after earlier Continue Reading
Oil Reaches One-Week High on Stimulus Talk as Virus Fears Linger
Crude oil rose to the highest in more than a week in New York and London on optimism that a deal could still be struck for a fresh round of Continue Reading
Oil Prices Stuck In Limbo As Uncertainty Mounts
Oil prices are unlikely to move much higher from the current levels in the low $40s, at least not for the rest of the year, a growing number of analysts Continue Reading
Why Natural Gas Prices Are Set To Soar Next Week
A significant cooldown has arrived, with the jet stream from Canada plunging this weekend, which will allow the eastern United States to experience its first taste of fall for much Continue Reading
IEA’s Birol says ‘more optimistic than ever’ on shift to clean energy
The global transition to clean, low-carbon energy is gaining momentum with the impetus from the coronavirus pandemic this year likely to be “turning point” for climate change, International Energy Agency Continue Reading
Iraq seeks another emergency financing law as 2020 budget stalls
Cabinet considers new borrowing legislation to fund massive deficits after political headwinds stopped attempts to pass a full 2020 budget. Iraqi Finance Minister and Deputy Prime Minister (second from right) Continue Reading
Threat to evacuate U.S. diplomats from Iraq raises fear of war
Washington has made preparations to withdraw diplomats from Iraq after warning Baghdad it could shut its embassy, two Iraqi officials and two Western diplomats said, a step Iraqis fear could Continue Reading
UAE Wealth Fund Sees Oil Demand Peaking In 2030
Global oil demand has another decade to grow until peaking in 2030, Mubadala Investment Company, one of the largest state wealth funds of the United Arab Emirates (UAE), believes. The Continue Reading
Trump Team Weighs New Sanctions on Iran’s Financial Sector
A man rides a scooter along Valiasr Square in Tehran on Sept. 27. The Trump administration is considering fresh sanctions to sever Iran’s economy from the outside world except in Continue Reading
Why Did Washington Shorten Iraq’s Sanctions Waiver?
It can safely be surmised that whatever the new Iraqi Prime Minister, Mustafa al-Kadhimi, told U.S. government officials during his visit last month to Washington went down like a lead Continue Reading
Former Libya Oil Wealth Handler Arrested For Fraud
The former CEO of the bank responsible for handling Libya’s oil wealth has been arrested for fraud, according to Libyan security and judicial officials cited by Bloomberg —and the bank Continue Reading
Nigeria: Days of Crude Oil Are Numbered – Govt
STRONG indications emerged Monday that hardship looms in Nigeria following the nation’s over-reliance on oil as the Federal Government has raised the alarm that the days of crude oil are Continue Reading
Turkey’s support role complicates latest Nagorno-Karabakh flare-up
Whenever fighting has erupted between Armenia and Azerbaijan over the disputed territories claimed by both neighbors, demands from Moscow have ultimately forced the two post-Soviet states to the negotiating table. Continue Reading
Explainer: Who’s fighting in Nagorno-Karabakh, and why does it matter?
Fierce fighting has broken out between Azerbaijan and its ethnic Armenian enclave of Nagorno-Karabakh, a new and dangerous eruption of a decades-old conflict. WHERE AND WHAT IS NAGORNO-KARABAKH? It’s a Continue Reading
Nigeria Considers Privatizing Its State Oil Firm
Nigeria will look to privatize its state oil firm Nigerian National Petroleum Corporation (NNPC) under a draft new petroleum law currently in Parliament for discussion, Reuters reported on Monday, quoting Continue Reading
Fiercest clashes since 1990s rage in Azerbaijan’s ethnic Armenian enclave
Fighting escalated sharply on Monday between Azerbaijan and its ethnic Armenian mountain enclave of Nagorno-Karabakh, and at least 29 people were killed in the second day of heavy clashes. The Continue Reading
Argentine Economic Recovery Falters Amid Tighter Lockdown Rules
View full article at www.bloomberg.com
Venezuela Is Buying Iranian Oil With Planes Full Of Gold
Iran has received gold from Venezuela for the fuel cargoes Tehran had sent to the Latin American country, a commander at Iran’s Islamic Revolutionary Guard Corps (IRGC) said over the Continue Reading
Fuel Flotilla Heads to Venezuela
The first vessel in an Iranian convoy of ships bringing desperately needed fuel arrived in Venezuela, demonstrating both nations’ determination to undermine U.S. efforts to isolate the governments in Tehran Continue Reading
Alberta Eyes Oil Route After Trump OKs Alaska Rail Link
U.S. President Donald Trump’s decision to approve a rail link between Canada and Alaska could open up an export route to Asia for Alberta’s struggling oil sands producers. The presidential permit, Continue Reading
EPA Raises Legal Questions About California’s Plan to Ban New Gas-Powered Cars Starting in 2035
The Environmental Protection Agency raised concerns about California Gov. Gavin Newsom’s plan to ban sales of new gasoline and diesel-powered passenger cars in the state by 2035, arguing that the Continue Reading
California’s Electric Vehicle Dream Has A Major Problem
California’s Governor Gavin Newsom last week announced that the sale of new cars with internal combustion engines would be banned from 2035 in the state administration’s latest effort to reduce Continue Reading
Do Canadian Oil Drillers Still Have Some Potential?
This company presents a good opportunity for investors with a minimum of risk, with exceptions as noted. Enerplus, (NYSE:ERF) is a Canadian driller with a good balance sheet and cash Continue Reading
What Would A Biden Presidency Mean For Coal?
A report published by Fitch Solutions Country Risk states that under a Joe Biden presidency, the United States is expected to see an acceleration in renewables development and an effort Continue Reading