Crude oil futures fell in mid-morning trade in Asia June 17 as a hawkish slant from the US Federal Reserve sent the US dollar soaring, but markets remained supported by Continue Reading
Oil traded near $72 a barrel as investors weighed signs of a tightening global crude market against the Federal Reserve’s decision to start moving toward an end of its ultra-easy Continue Reading
Crude oil prices dipped on Thursday as a stronger U.S. dollar brought them off multi-year highs, but losses were limited by a big drop in U.S. crude oil inventories. Brent Continue Reading
Oil was virtually unchanged as gains driven by diminishing crude inventories were tugged lower after Federal Reserve officials suggested they expect two interest rate increases by the end of 2023. Continue Reading
Oil extended its run of gains on Wednesday, climbing towards $75 a barrel to its highest since April 2019, supported by a recovery in demand from the pandemic and a Continue Reading
“Incredible demand,” inflation, and shareholder pressure on oil supermajors to drastically cut emissions could lead to an oil crisis within three years, with very high oil and gasoline prices, David Continue Reading
California is at risk of blackouts as a sprawling heat wave smothers the western U.S. Cities across China’s industrial heartland are rationing electricity. European power prices are far higher than Continue Reading
Ironically, the wave of ESG investing in global energy markets may lead to much higher oil prices as a serious lack of capital expenditure on new fossil fuels dries up Continue Reading
A new supercycle in global oil prices could be triggered by a lack of new investments in exploration, Saudi Arabia’s energy minister said. Prince Abdulaziz bin Salman, who’s been warning Continue Reading
Increasing pressure on major oil companies has forced many to make promises to reduce the extraction of their main fossil fuel. They also warn that the result may not be Continue Reading
The world’s largest oil companies are set to report next month another set of strong quarterly earnings amid significantly higher oil prices and global oil demand in the second quarter Continue Reading
The growing market for paying for carbon emissions could become a larger market than the one for crude oil, according to the head of carbon trading at Trafigura, one of Continue Reading
Iraq’s Oil Ministry is sitting on roughly 1 million bpd of capacity — and developing more — as OPEC quotas begin to ease. Iraqi Oil Minister Ihsan Ismaael (center right) Continue Reading
The amount of heat Earth traps has roughly doubled since 2005, contributing to more rapidly warming oceans, air and land, according to new research from NASA and the National Oceanic and Atmospheric Continue Reading
Energy Minister Prince Abdulaziz bin Salman Saudi Arabia’s cautious approach to reviving OPEC+ oil output has been proved correct, said Energy Minister Prince Abdulaziz bin Salman. After a year of Continue Reading
Iran grappled with fears of low voter turnout two days ahead of its presidential election as the race narrowed on Wednesday into a showdown between the country’s hard-line judiciary chief Continue Reading
Nigeria’s oil subsidy programme has unwittingly become a drag on the economy. When the price of the commodity rises on the international market, revenue rises, but this gain is more Continue Reading
Nigeria’s currency weakened to a four-year low in the parallel market after the central bank’s efforts to coax banks to sell more dollars to customers failed to bridge the widening Continue Reading
The Chinese government said on Wednesday that “about five” of the uranium fuel rods inside a nuclear power plant in southeastern China had been damaged, but added that no radiation had leaked Continue Reading
Highlights State-owned refineries contribute to rise High throughput is sustainable Crude output up 3.5% on year to 4.03 mil b/d China’s crude throughput in May rose 4.4% year on year Continue Reading
China is reshaping global shipping fuel markets by taking advantage of its booming maritime trade and massive refining capacity to undercut rivals from Singapore to South Korea and become the Continue Reading
High-sulfur fuel oil markets are getting a boost as Chinese private refiners hunt for more straight-run fuel oil to use as a feedstock, and a sweltering summer in the Middle Continue Reading
For a fresh perspective on the stories that matter for Australian business and politics, sign up for our weekly newsletter . Robeco Institutional Asset Management BV will soon start pressuring Continue Reading
A heat dome is baking Arizona and Nevada, where temperatures have soared past 115 degrees this week and doctors are warning that people can get third-degree burns from the sizzling Continue Reading
Searing heat across the U.S. Southwest this week boosted electricity demand and prices to record highs and prompted power grid operators in Texas and California to urge energy conservation to Continue Reading
Oil and gas producer EP Energy, which emerged from bankruptcy last year, has received takeover bids from private equity firms including EnCap Investments and Quantum Energy Partners, four people familiar Continue Reading
General Motors will raise spending on electric and autonomous vehicles and add two U.S. battery factories as it gambles that consumers will eagerly switch from gasoline to the new technology. Continue Reading
The U.S. is entering a new phase of the Covid-19 pandemic as people settle back into normal life thanks to vaccines, but public-health authorities are preparing for Americans to live Continue Reading
The Electric Reliability Council of Texas (ERCOT) is asking Texans to reduce electric use as much as possible through Friday June 18. The Electric Reliability Council of Texas (ERCOT) is Continue Reading
As oil climbs above $70 a barrel for the first time in almost three years, oilfield firms are reporting prices for their services and equipment have bottomed and many are Continue Reading
Democratic U.S. congressional members sent a letter on Wednesday to the Environmental Protection Agency, urging it to reject any action that would exempt oil refiners from obligations to blend biofuels Continue Reading
U.S. crude oil stockpiles dropped sharply last week as refineries boosted operations to their highest since January 2020, signalling continued improvement in demand, the Energy Information Administration said on Wednesday. Continue Reading
U.S. Interior Secretary Deb Haaland said on Wednesday her department was reviewing a federal court’s decision that it must resume auctioning oil and gas leases on federal acreage but did Continue Reading
Back in 2013, the world’s largest private-sector coal company, Peabody Energy (NYSE:BTU), pulled off a new trick from the ever-growing trove of corporate subterfuge. Peabody created a new entity that Continue Reading
President Joe Biden’s plans to curtail fossil fuels hit an early roadblock Tuesday, when a federal judge ruled against the administration’s temporary ban on selling new drilling rights on federal Continue Reading
Royal Dutch Shell Plc hired a team of pricey lawyers for its defense against environmental activists in a Dutch court, and lost. A decade-old, $22 book might have upped their Continue Reading
The European Union agreed to open the door to American tourists for the first time since the coronavirus pandemic began, giving a boost to the continent’s crucial tourism industry and Continue Reading
PI3 Plasma Injector at General Fusion. A nuclear fusion startup backed by billionaire Jeff Bezos will build its first pilot power plant outside of London, potentially accelerating a new way Continue Reading
Crude oil futures jumped during morning trade in Asia June 16, as data from the American Petroleum Institute showed a large draw in US crude inventories, and as the market Continue Reading
The American Petroleum Institute (API) on Tuesday reported a draw in crude oil inventories of 8.537-million barrels for the week ending June 11. Analysts had predicted a much smaller draw Continue Reading
Oil extended a powerful rally, with global benchmark Brent closing in on $75 a barrel, after industry data pointed to a substantial draw in U.S. crude stockpiles and top traders Continue Reading
Oil extended its run of gains on Wednesday, climbing towards $75 a barrel to its highest since April 2019, supported by a recovery in demand from the pandemic and a Continue Reading
Oil climbed as a chorus of prominent traders in the crude market said prices will continue to rise after a nearly 50% rally so far this year. Futures in New Continue Reading
Although oil may not be headed to a new supercycle, prices still have room to rise from current levels because of a strong demand rebound and expected tightness in supply, Continue Reading
Shortly after Iran’s centrist president 1–lassan Rouhani was elected in 2013, the country’s football team qualified for the World Cup, a sign, many said, that the new leader had brought Continue Reading
The OPEC+ alliance has taken decisive actions to help reduce oil market volatility, OPEC Secretary-General Mohammad Barkindo said on Tuesday at the opening of the meeting of OPEC’s economic and Continue Reading
India’s gasoline and diesel sales rebounded in the first half of June, offering early evidence the nation’s energy consumption is on the mend after a deadly second coronavirus outbreak that hammered Continue Reading
Toyota Motor Corp.’s lineup over the next 30 years will contain a myriad of options beyond just electric vehicles, executives at an annual shareholder meeting said Wednesday.“It’s too early to Continue Reading
North Korean leader Kim Jong Un warned about possible food shortages and urged the country to brace for extended COVID-19 restrictions as he opened a major political conference to discuss Continue Reading
Japan, a country heavily dependent on fossil fuel imports, is betting big on hydrogen in industry, power generation, vehicles, and shipping as it looks to reach net-zero emissions by 2050. Continue Reading
