Crude oil futures were higher in mid-morning trade in Asia March 16 as market participants weighed the impact of China’s worsening COVID-19 outbreak on demand and signs of progress in Continue Reading
The American Petroleum Institute (API) estimated that there was a surprise build this week for crude oil of 3.754 million barrels, compared to analyst predictions of a 1.867 million barrels Continue Reading
Falling prices indicate the market has not fully realized the potential impact of lost Russian barrels on global supply, according to Rystad Energy. The reprieve of cheaper oil may be Continue Reading
As the Asia-Pacific region struggles with its first Omicron surge, it appears that Europe may be heading for a second jump, just as countries on both continents have rapidly lifted Continue Reading
The glass tower in Paris where Axa SA , one of the world’s largest insurers, has its temporary headquarters looks as if a giant feral cat has ripped chunks out Continue Reading
A record-breaking “bomb cyclone” that began its development over the U.S. East Coast on Friday is bringing an exceptional insurgence of mild air to the Arctic. Temperatures around 50 degrees Continue Reading
OPEC leaves oil demand growth forecast unchanged in its latest MOMR. War in Ukraine, quickly rising inflation may have an impact on short-term crude demand. The cartel still expects world Continue Reading
Russia walked back recently made demands on Washington related to the Iran nuclear deal, clearing the way for Tehran and Washington to revive the 2015 agreement, senior western diplomats said. On Tuesday, after Continue Reading
West Qurna-2 has around 14 billion barrels of reserves in place. West Qurna 2 has long been able to produce a lot more than the 400,000 bpd it currently produces. Continue Reading
Oil prices continued to crash, yesterday, as speculators abandoned the volatile market, while Russia claimed it wants the Iranian nuclear deal to be signed as soon as possible. This is Continue Reading
Italian oil major, Eni, has promised to lift the force majeure on the Ogoda/Brass 24 oil pipeline in Bayelsa State this week. Eni in an updated statement issued yesterday, said Continue Reading
Fujairah LSFO suffers brunt of sales drop Blending pool stocks hit by sanctions on Russia HSFO sales holding up The Port of Fujairah’s bunker sales slumped in February to their Continue Reading
Kazakhstan has banned the export of hard currency in amounts worth more than $10,000, as well as gold and silver bullion, as it attempts to stabilize a national currency battered Continue Reading
Japan’s gasoline prices at the highest level in 13 years is forcing the government to give the maximum amount of subsidies for oil refiners and also consider measures to lower Continue Reading
Last year, President Xi Jinping seemed all but invincible. Now, his push to steer China away from capitalism and the West has thrown the Chinese economy into uncertainty and exposed faint cracks Continue Reading
COVID-19 cases highest since beginning of pandemic Buyers bidding up to $20/mt lower than offers: sources Indonesian coal supply tight, providing floor to prices Chinese thermal coal demand is expected Continue Reading
The queues of container ships outside major Chinese ports are lengthening by the day as COVID-19 outbreaks in manufacturing export hubs threaten to unleash a fresh wave of global supply Continue Reading
China’s Jilin province was “in a last ditch battle” against COVID-19, according to a senior Communist Party official, as the northeastern region bordering North Korea and Russia accounted for three-quarters Continue Reading
China’s public health governance is expected to come under acute pressure in coming weeks as the biggest wave of COVID-19 cases since the 2020 Wuhan outbreak stretches medical resources, tests Continue Reading
Most Americans now support a resurrection of the Keystone XL oil pipeline project for carrying oil from Canada to the United States, a new poll showed after the U.S. banned Continue Reading
Highlights Recent prices almost triple average Power plant regulations inhibit investment ‘A full suite’ of EPA rules in the works The global coal market cannot scale up to supply Russia’s Continue Reading
The International Court of Justice in The Hague, March 2022 The Russian invasion of Ukraine is the most brazen illegal war waged by one sovereign state against another since World Continue Reading
The economic cost of Russia’s assault on Ukraine was fully exposed on Wednesday as Vladimir Putin’s sanctions-ravaged government teetered on the brink of its first international debt default since the Continue Reading
Russia said on Wednesday that peace talks with Ukraine were not easy but that there was some hope of reaching a compromise and that neutrality for Ukraine was being seriously Continue Reading
Global commodity markets will need to adapt to a lack of supply from Russia and Ukraine, global miner and commodities trader Glencore (GLEN.L) said in its annual report on Wednesday. Continue Reading
Three million barrels per day (bpd) of Russian oil and products may not find their way to market beginning in April in the wake of its invasion of Ukraine, the Continue Reading
Russian gas deliveries to Europe via the Nord Stream 1 pipeline were steady while lower through Ukraine on Wednesday as the Yamal-Europe pipeline remained in reverse mode for a second Continue Reading
What would a Russian bond default look like? Russia would be in default if it doesn’t pay in U.S. currency the coupon payments that are due this Wednesday on its Continue Reading
Judging by the bond market, it will take years for Russia to re-enter the global financial system. Russian government bonds fell below 10 cents on the dollar last week, putting Continue Reading
Inside every car sits almost three miles of electric cabling. The snaking wires carry instructions, from steering the wheels to opening the boot. This jumble of motoring spaghetti is held Continue Reading
Gazprom has reduced its natural gas exports to countries outside the former Soviet Union by 28.5 percent so far this year, Russia’s state gas giant said on Tuesday. Gazprom’s natural Continue Reading
The move could raise duties for metal imports from Russia House, Senate working to advance legislation Political officials in the US are advancing discussions on a proposal to revoke Russia’s Continue Reading
The market is waiting to see if Russian firms such as Surgutneftegas PJSC proceed with monthly sell tenders for ESPO crude this week. Away from the public eye. That’s where Continue Reading
The heat is coming out of the oil market, and fast. West Texas Intermediate oil futures have shed around 20% since closing at the highest since 2008 a week ago, Continue Reading
Portfolio managers cut their bullish bets on Brent Crude by the most in years in the week to March 8, according to data from futures exchanges compiled by Bloomberg . Continue Reading
Felicity Bradstock is a freelance writer specialising in Energy and Finance. She has a Master’s in International Development from the University of Birmingham, UK. Renewable energy may be incredibly popular Continue Reading
As Prime Minister Mustafa al-Kadhimi approaches the end of his term, Iraqi leaders are grappling with whether and how to continue his administration’s efforts to reform the economy. The government’s economic Continue Reading
Kpler’s lead Americas oil analyst shares his thoughts. According to Matt Smith, Kpler’s lead Americas oil analyst, OPEC’s meeting at the end of the month is unlikely to yield any Continue Reading
Foxconn 2317 -1.46% Technology Group, the biggest assembler of Apple Inc. iPhones, is in talks with Saudi Arabia about jointly building a $9 billion multipurpose facility that could make microchips, electric-vehicle components and other electronics Continue Reading
The developments could deal a blow on Nigeria, which has plans to export oil in the neighbourhood of 1.5 million bpd in March. Shell Petroleum Development Company, the local unit Continue Reading
Taxi drivers in Tajikistan complain to their passengers, never to the government. And with the price of fuel on the rise, they have a lot to grumble about. A liter Continue Reading
The Tapovan Vishnugad plant following a deadly landslide in 2021. With viable hydro sites scarce, dam builders around the world are pushing into high-risk areas, often based on outdated climate Continue Reading
Postponed draft decrease extends fully-laden Suezmax transits 49-foot draft restriction limits Suezmax tankers, Neopanamax container ship transits Waiting times for transit decrease to six days southbound The first draft reduction Continue Reading
Chevron Corp. is preparing to take operating control of its joint ventures in Venezuela if Washington relaxes sanctions on Caracas to boost crude supplies after banning Russia’s oil imports, according Continue Reading
Highlights Oil product demand may fall by 4% from original estimations Jet fuel, gasoil, gasoline most hit Analysts to observe government’s policy adjustment China’s oil product demand was under downward Continue Reading
China plans a massive increase in coal mining, a move that will dramatically reduce its reliance on imports and deal a blow to its near-term climate actions. The National Development Continue Reading
China posted a steep jump in daily COVID-19 infections on Tuesday, with new cases more than doubling from a day earlier to hit a two-year high, raising concerns about the Continue Reading
Hartmut Issel explains why UBS Wealth Management upgraded China stocks to “most preferred” despite the selloff. Bloomberg News A selloff across Chinese equities deepened on Tuesday as concerns about the Continue Reading
The global economy — already struggling with war in Ukraine and the stagflation risks it’s fanning — is bracing for greater disruption as China scrambles to contain its worst outbreak Continue Reading
China’s crude steel production in January-February decreased 10% on the year to 157.96 million mt, data from the National Bureau of Statistics showed March 15. Not registered? Receive daily email Continue Reading
