Oil Prices Falter on Supply Assurances
Oil fell to the lowest in a week after U.S. crude stockpiles topped half a billion barrels and the International Energy Agency said global supplies are plentiful. Futures in New Continue Reading
Physical Oil Market Weakens With China Buyers on Sidelines
The market for physical crude barrels in Asia is showing signs of weakness with muted buying from some in China leading to ample supply. Spot differentials for cargoes scheduled to Continue Reading
OIL FUTURES: RBOB falls 2.6% after unexpected US gasoline inventory build
Highlights US gasoline stocks rose 470,000 barrels on import surge RBOB cracks hit nine-day low US crude stocks up 2.4 million barrels RBOB futures fell sharply March 17 amid an Continue Reading
Oil Prices Inch Lower As Crude Inventories Continue To Build
The Energy Information Administration reported a crude oil inventory build of 2.4 million barrels for the week to March 12, up/down from a build of 13.8 million barrels the authority Continue Reading
Oil Market Report – March 2021
World oil demand is expected to rebound by 5.5 mb/d in 2021 after contracting by 8.7 mb/d in 2020. Consumption appears to be slightly higher than expected in 1Q21, supported Continue Reading
Never Mind Peak Oil, Global Forecaster Calls Peak Gasoline
The world’s thirst for gasoline isn’t likely to return to pre-pandemic levels, the International Energy Agency forecast, calling a peak for the fuel that has powered personal transportation for more Continue Reading
Key oil market forecasts from the IEA’s Oil 2021 report
The International Energy Agency published its latest medium-term oil market outlook on March. 17 containing closely-watched forecasts for oil supply and demand fundamentals to 2026. Below are the main projections Continue Reading
Rising oil demand to outpace OPEC supply growth, shrinking spare capacity cushion: IEA
The world’s growing thirst for oil, combined with lackluster upstream investment, will require OPEC to pump close to maximum capacity in the coming years, leaving the market more vulnerable to Continue Reading
Everywhere You Look, the Global Supply Chain Is a Mess
Supply chain woes mounted world-wide for makers of everything from cars and clothing to home siding and medical needle containers, as the extreme Texas weather and port backlogs compounded problems Continue Reading
Big Oil’s Hottest Prospects In 2021
Judging by the first 3 months of 2021 it seems that this year has gone off into a wrong start, instead of economic rebounds we face a third rendition of Continue Reading
Three Commodities Set To Boom As The Global Economy Recovers
Despite the ongoing vaccine rollout snafu, including supply chain constraints, delayed approvals and—more worryingly—dozens of countries banning the cheapest and most widely available Covid-19 vaccine , there’s growing optimism that Continue Reading
EIA: OPEC+ Cuts To Lift Oil Prices Through April
Oil prices will likely remain at the current high levels in March and April, with Brent Crude prices averaging between $65 and $70 per barrel, after the OPEC+ group unexpectedly Continue Reading
Cautious Refiners May Deal Major Blow To Oil Tanker Market
U.S. gasoline demand has rebounded to nearly pre-pandemic levels, but after a horrendous 2020, American refiners are looking to cut costs wherever and whenever possible in light of the still-sluggish Continue Reading
Oil Drops As IEA Dashes Hopes Of Supercycle
Oil prices erased earlier gains and traded lower on Wednesday morning, following an estimate by the International Energy Agency (IEA) that no supercycle for oil is around the corner amid Continue Reading
Renewable Returns Tripled Versus Fossil Fuels in Last Decade
Investing in renewable power stocks beat a fossil fuel-focused strategy by more than threefold in the last decade. Superior returns from green power could help push investors to provide the capital Continue Reading
Climate-Linked Downgrades Risk $270 Billion-a-Year Price Tag
Climate change could lift interest payments on sovereign and corporate debt by nearly $270 billion a year by the end of the century, according to Cambridge University and the University Continue Reading
How the WHO’s Hunt for Covid’s Origins Stumbled in China
More than a dozen foreign scientists led by the World Health Organization gathered with Chinese counterparts last month to vote on the question: How did the Covid-19 pandemic start? The show Continue Reading
Ocean trawling emits as much CO2 as global aviation, study finds
Ocean trawling, condemned by green groups for destroying marine habitats and depleting fish populations, generates a similar volume of carbon emissions to the global aviation industry, driven by activity in Continue Reading
Iraq Denies UAE Firm’s Claim U.S-Seized Iranian Oil Cargo Was From Baghdad
Iraq’s state oil marketing firm SOMO denied a claim by Fujairah International Oil & Gas Corp of the United Arab Emirates (UAE) that an oil cargo, which the United States Continue Reading
Iraq, Total mull joint work on associated gas, solar power projects: minister
Iraq and French oil major Total are in talks to jointly work on developing associated gas and solar power projects, the country’s oil minister said March 17, as OPEC’s second-largest Continue Reading
Qatar To Build A Luxury Floating Hotel That Generates Electricity
Qatar, one of the richest countries in the Middle East thanks to its massive liquefied natural gas (LNG) exports and oil reserves, plans to build a floating eco-hotel that would Continue Reading
Nigeria Bribery Case Ends In Victory For Shell, Eni
An Italian court has ruled that oil giants Royal Dutch Shell PLC and Eni SPA are not guilty in a bribery case involving a Nigerian oilfield that has spanned years, Continue Reading
Nigeria: Malabu Scandal – Acquittal of Shell, Eni ‘Stain On Italy’ – Anti-Corruption Campaigners
Environmental and social justice groups on Wednesday condemned Italy’s anti-corruption laws as “unfit for purpose”. The condemnation followed the acquittal of oil multinationals, Shell and Eni, on international corruption charges Continue Reading
22 Of the World’s 30 Polluted Cities are in India; Delhi Most Polluted Capital City Globally: Report
Delhi has been ranked as the most polluted capital city globally, according to a new report released on Tuesday. The ‘World Air Quality Report, 2020’, shows that Bangladesh, China, India, Continue Reading
China Can’t Resist Iran’s Cheap Oil
The source of Iran’s relative independence in international affairs can be attributed to its oil and gas wealth. The country’s massive oil resources have contributed to a steady source of Continue Reading
China Plans to Ask U.S. to Roll Back Trump Policies in Alaska Meeting
Beijing plans to press Washington to reverse many of the policies targeting China introduced during the Trump presidency in the first face-to-face meeting of senior U.S. and China officials since Continue Reading
China dominates global wind industry after record installations
Record wind power installations in 2020 have secured China’s position at the top of the global industry despite waning subsidies from Beijing. The 52 gigawatts of new wind power added last Continue Reading
Why The West Is Worried About China’s Renewable Energy Dominance
Over the past decade, no major energy source has grown faster than solar power. According to the 2020 BP Statistical Review of World Energy, installed solar photovoltaic (PV) capacity has Continue Reading
Bolstered by allies, Biden officials take blunt message to first China talks
The United States will take an uncompromising stance in talks with China on Thursday in Alaska, officials have said, in the first face-to-face meetings between senior officials from the two Continue Reading
US economy to grow faster than forecast, says Federal Reserve
The US central bank expects much stronger growth this year than previously forecast, as vaccination rates rise and government relief funds start flowing into the economy. The Federal Reserve forecast Continue Reading
US LNG feedgas demand hits new record on positive market trends
Feedgas deliveries to US liquefaction terminals set a new record March 17 of 11.65 Bcf/d as end-user prices in Northeast Asia rose for April, S&P Global Platts Analytics data showed. Continue Reading
Michigan Line 5 Shutdown Would Boost Oil-by-Rail Demand
Enbridge Inc. warned that refiners in central Canada and the U.S. Midwest would see crude supplies cut in half and propane costs surge for some homeowners if Michigan’s governor succeeds Continue Reading
U.S. Consumers Will Pay The Bill For Higher Crude Prices
Oil producers around the world are sticking to their guns and keeping oil production capped even as oil prices continue to rise. Historically, the highly cyclical and predictable pattern of Continue Reading
Texas Freeze Triggers Global Plastics Shortage
The February freeze that triggered mass blackouts in Texas led to chemical plant shutdowns that are disrupting global supply chains, causing a shortage of the raw materials needed for everything from medical Continue Reading
European Gas Is a Long Way From Tackling Methane Leaks
Most of Europe’s natural gas industry has announced an ambition to become climate neutral by mid-century at the latest. But a study shows how difficult it will be to turn Continue Reading
Von der Leyen signals possible emergency Covid vaccine controls
The European Commission’s president has warned that the EU is ready to introduce emergency controls on Covid-19 vaccine production and distribution if needed to deal with the “crisis of the Continue Reading
To save the summer tourist season, travel certificates are proposed in Europe.
The European Union hopes to restore the summer tourism market this year.Credit…Andrea Mantovani for The New York Times The European Union proposed a Covid-19 certificate on Wednesday that would allow Continue Reading
E.U. unveils vaccine passport plan to enable summer travel
The European Union on Wednesday launched a closely watched effort to create a joint vaccination passport for its more than 440 million citizens and residents, embarking on a tightrope walk between Continue Reading
UK to fund hydrogen, CCS projects, outline industrial carbon price plan
The UK government has announced funding of GBP171 million ($238 million) for nine projects to reduce emissions and indicated a plan to price carbon on industrial pollution as part of Continue Reading
German DAX hits record high as automakers rally
Automakers lifted the German DAX to a record high on Thursday, while eurozone blue-chip stocks jumped to pre-pandemic levels after the U.S. Federal Reserve vowed to keep interest rates low Continue Reading
BP studies building UK’s biggest blue hydrogen plant on Teesside
BP said March 18 it will consider developing what would become UK’s largest blue hydrogen plant on the northeast coast of England as part of a plan to transform the Continue Reading
Crude rangebound as US stock draw offsets European demand concerns
Crude oil futures were rangebound during the mid-morning trade in Asia March 17, as a surprise draw in US crude inventories helped ease concerns over weak European demand and increased Continue Reading
Spare production capacity to erode in absence of fresh investments, warns IEA
The world’s oil production capacity is expected to slow in the medium-term as the market digests the full impact of COVID-19 and the pivot toward cleaner energy, the International Energy Continue Reading
API Surprises Analysts With Unexpected Crude Draw
The American Petroleum Institute (API) reported on Tuesday a surprise draw in crude oil inventories of 1 million barrels for the week ending March 12. Analysts had predicted an inventory Continue Reading
WTI Closes Below $65
Oil fell the most in a week as investors assessed the state of the demand recovery. (Bloomberg) — Oil fell the most in a week as investors assessed the state Continue Reading
Oil Retreats for Third Day as WTI’s Contango, Dollar Take Toll
Oil retreated for a third day to trade below $65 a barrel, hurt by weakness in the market’s near-term pricing structure and a firmer dollar. West Texas Intermediate fell 0.9%, Continue Reading
Oil drops as COVID-19 vaccine halt threatens demand
Oil slipped for a fourth day on Wednesday as concerns about weaker demand in Europe outweighed an industry report that showed U.S. crude stockpiles unexpectedly fell last week. Several European countries Continue Reading
Oil demand drag takes toll on tankers, U.S. refiners
U.S. refiners are scaling back on hiring ships for longer periods to save on costs in another sign of uncertainty over when global oil demand will return to pre-COVID levels, Continue Reading
World oil demand may have peaked in 2019 amid energy transition: IRENA
Global oil demand may have hit the peak in 2019 and natural gas will follow suit around 2025, the director general of International Renewable Energy Agency said March 16, as Continue Reading
The Greenland ice sheet may be more vulnerable than we knew to global warming, new study shows – The Washington Post
At first, Andrew Christ was ecstatic. In soil taken from the bottom of the Greenland ice sheet, he’d discovered the remains of ancient plants. Only one other team of researchers Continue Reading