Oil Posts Fifth Monthly Gain and Longest Run Since 2018
Oil logged gains for a fifth month after another tumultuous period of trading that saw prices whipsawed by the fallout from Russia’s war in Ukraine and a resurgence of Covid-19 Continue Reading
Oil extends gains as supply fears outweigh China lockdowns
Oil prices rose for a fourth day on Friday as fears over Russian supply disruption trumped COVID-19 lockdowns in China, the world’s biggest crude importer. Brent crude futures rose $1.60, Continue Reading
Power-hungry India halts passenger trains to free up track to move coal
India has boosted the output of coal and cancelled passenger trains to free up rail track to move it, officials said on Friday, as the government scrambles to overcome its Continue Reading
Record India heatwave raises power cut fears
A record-breaking “heat dome” across northwest India has worsened a severe shortage of coal for power generation and raised the risk of blackouts at hospitals in New Delhi, according to Continue Reading
China’s Economy Slows Rapidly as Covid Zero Lockdowns Bite
China’s economic activity contracted sharply in April as the lockdown of Shanghai and other areas around the country to contain a widespread Covid-19 outbreak closed factories, snarled roads and stopped Continue Reading
California willing to keep nuclear plant running to keep lights on
California is open to keeping its last remaining nuclear power plant running to maintain electric reliability as it transitions away from fossil fuels, a spokesperson for Governor Gavin Newsom said Continue Reading
U.S. drillers add oil and gas rigs for record 21 months a row -Baker Hughes
U.S. energy firms last week added oil and natural gas rigs for a record 21 months in a row as high prices and prodding by the federal government prompted some Continue Reading
Cases are rising in nearly every corner of the United States.
Coronavirus cases and hospitalizations are rising in a majority of American states, in what appears to be the first widespread increase since the peak of the Omicron surge in January. Reports Continue Reading
Stock markets tank over new questions about where the economy is heading
A barrage of divisive economic signals, combined with plummeting technology stocks, led financial markets to close April at lows last seen when the pandemic began in March 2020. Uncertainty about Continue Reading
Demand Destruction Is Delaying An Oil Supply Crisis
Oil prices are on course for a fifth straight monthly increase despite significant demand destruction in China, a trend that highlights just how big the current supply problem is. Oilprice Continue Reading
EIA Monthly Data Shows A Dip In U.S. Oil Production
Weekly U.S. crude oil production figures by the Energy Information Administration are a closely watched data set, but monthly production figures—which lag by months—often are seen as painting a more Continue Reading
The Rig Count Climbs As Markets Clamor For More Oil
The rig count has increased once again, hitting levels not seen since April 2020. Russia’s invasion of Ukraine has only added to the demand for drilling, with the rig count Continue Reading
Diesel In ‘Crisis’ Mode As Prices Break Records
Diesel prices, the lifeblood of industry, have hit a record $5.16 per gallon, trending $1 per gallon higher than gasoline prices, with inventory shortages adding severe pressure and resulting in Continue Reading
US EPA issues emergency fuel waiver to allow summertime E15 fuel sales
Waiver to allow ‘small’ increase in ethanol demand: S&P Global Waiver is not a ‘silver bullet’ for gas prices: White House Ethanol groups want to see action toward a permanent Continue Reading
Rising premium at Henry Hub drives more Texas gas eastbound
East Texas basis down over 20 cents this April Southeast LNG demand up 1.6 Bcf/d in 2022 Texas-Louisiana forward spreads wider in 2023 Premium gas prices at the US benchmark Continue Reading
Poland’s PGNiG says gas flowing to Novatek customers cut off earlier
Poland’s biggest gas company PGNiG (PGN.WA) said on Saturday morning that it had started delivering gas to 10 different towns and region across Poland that had had their gas cut Continue Reading
Russia makes last-gasp dollar bond payments in bid to avoid default
Russia made what appeared to be a late u-turn to avoid a default on Friday, as it made a number of already-overdue international debt payments in dollars despite previously vowing Continue Reading
U.S. sees no threat of Russia using nuclear weapons despite rhetoric- official
The United States does not believe that there is a threat of Russia using nuclear weapons despite a recent escalation in Moscow’s rhetoric, a senior U.S. defense official said on Continue Reading
Europe’s Fragile Energy Market Braces for Putin’s Next Move
Could Europe withstand a wholesale ban on Russian oil and gas? Europe may be hurtling toward a sudden halt of Russian gas, a scenario that would trigger energy rationing, higher Continue Reading
Russia running short of precision missiles, say western officials
Russia is running short of precision missiles in its war against Ukraine and its arms factories lack the ability to produce enough to keep up with demand, western officials have Continue Reading
Russia’s Eastern Offensive Appears to Falter
Russia’s offensive in eastern Ukraine appears to be faltering , as its troops suffer battlefield losses and logistical and morale problems similar to those they faced in the war’s first Continue Reading
An EU Embargo On Russian Oil Is Imminent
Members of the European Union are expected to agree on an embargo of Russian crude oil imports as early as next week, according to officials, in a move that would Continue Reading
OIL FUTURES: Crude slips as China lockdown continues to weigh on sentiment
Crude oil futures inched lower in mid-morning Asian trade April 29 as China’s lockdown continued to weigh on crude sentiment despite fears of supply disruptions from a potential embargo on Continue Reading
Oil extends gains as supply fears outweigh China lockdowns
Oil prices rose for a fourth day on Friday as fears over Russian supply disruption trumped COVID-19 lockdowns in China, the world’s biggest crude importer. Brent crude futures rose $1.60, Continue Reading
OPEC+ Seen Sticking To Current Production Arrangement
OPEC+ expected to boost production by 400,000 in June. Many group members have consistently failed to deliver the agreed production increases. The total production of OPEC+ for March was 1.45 Continue Reading
Iran Boosts Oil Exports As Its Key Buyer China Cuts Russian Purchases
Iran’s oil exports jumped by 30 percent from last year to 870,000 barrels per day (bpd) in the first quarter of 2022, The Wall Street Journal reported on Thursday, citing Continue Reading
TotalEnergies Looks To Divest Nigerian Asset, Joining Big Oil Exodus
France’s supermajor TotalEnergies plans to sell its minority stake in an onshore oil-producing joint venture in Nigeria in what will be the latest divestment of Nigerian oil assets by an Continue Reading
Heat wave scorches India’s wheat crop, snags export plans
An unusually early, record-shattering heat wave in India has reduced wheat yields, raising questions about how the country will balance its domestic needs with ambitions to increase exports and make Continue Reading
India Endures Record Heat Wave: ‘The Only Reason Is Global Warming’
India’s severe heat waves are expected to stretch into early next month, meaning millions of people will have to endure more days of dangerous temperatures and hours-long blackouts . The Continue Reading
E-Scooters in Flames Show High Cost of India’s Green Goals
A spate of high-profile battery fires is undermining India’s bid to become a leader in electric vehicles, particularly in the ubiquitous two-wheelers that ply the country’s traffic-clogged roads. Social media Continue Reading
No quick recovery for China oil demand as COVID battle grinds on
China’s oil demand is expected to stay weak heading into May as COVID-19 lockdowns across the country curtail travel plans during the Labour Day holiday season, analysts and traders say. Continue Reading
Renminbi on course for steepest monthly fall as China’s economy slows
The renminbi is set to close out its steepest monthly fall on record as China’s economy reels from severe Covid-19 lockdowns and the US Federal Reserve prepares to raise interest Continue Reading
Is China Finally Distancing Itself From Russia?
Western sanctions on Russia are beginning to sting, despite President Vladimir Putin suggesting otherwise. Inflation in Russia is expected to soar to 22% this year, with the IMF chief economist Continue Reading
China flips to selling LNG export cargoes as pandemic curbs dent demand
Spot LNG cargoes, term contract volumes heard being resold China’s March LNG imports fall 18% on year Trucked LNG prices for coastal terminals, inland plants fall on weak demand China, Continue Reading
North American oil companies scramble to find workers despite boom
When Jeremy Davis was laid off from his oilfield job in Texas in 2020, he did not want to leave the industry after 17 years in oil and gas. But Continue Reading
U.S. solar industry warns of slowdown due to supply chain disruptions, tariff uncertainty
The U.S. solar industry is warning of a big slowdown in project installations this year as global supply chain disruptions and the threat of new U.S. tariffs on panel imports Continue Reading
U.S. Democrats to ‘go after’ oil companies over gasoline prices
Democrats in Congress, accusing oil companies of gouging and profiteering that has raised gasoline prices, on Thursday promised legislation to allow the U.S. Federal Trade Commission and state attorneys general Continue Reading
Fracking Boom Turns Texas Into the Earthquake Capital of the U.S.
Earthquakes were never anything people in West Texas thought much about. Years would pass in between tremors that anybody felt. Even after the shale revolution arrived in force a decade Continue Reading
Bankers Are Still Standing Behind the Dirtiest Fossil Fuel
Granted it’s still early in 2022, but signs are emerging that the amount of financing going to coal-related projects is running at a rate that’s more than double last year’s Continue Reading
Amazon Posts First Quarterly Loss Since 2015 as Costs, Rivian Stake Weigh on Results
Amazon.com Inc. AMZN 4.65%▲ posted its first quarterly loss in seven years, a result that reflected broad economic trends related to a slump in online shopping, higher costs from inflation Continue Reading
Train Delays Bog Down U.S. Farm Sector
Every day, millions of sailors, truck drivers, longshoremen, warehouse workers and delivery drivers keep mountains of goods moving into stores and homes to meet consumers’ increasing expectations of convenience. But Continue Reading
Intel CEO Sees Chip Shortage Lasting Into 2024
Intel said Thursday that first-quarter sales fell almost 7% to $18.35 billion, missing Wall Street expectations. Intel generated net income of $8.1 billion. Consumer demand for lower-end PCs was particularly Continue Reading
Apple forecasts up to $8bn hit from supply chain problems
Apple executives warned that the group could sustain a hit of up to $8bn in the current quarter from headwinds including supply chain shortages and factory shutdowns in China, underscoring Continue Reading
Dangerous fire weather targeting Southwest and southern Plains
A severe-to-exceptional drought is continuing to parch the West and the Plains, with scant rainfall and increasing temperatures desiccating the landscape in recent months. Reservoirs are scraping rock bottom, and Continue Reading
Extreme Weather Leads To Sharp Drop In North Dakota Oil Production
A recent bout of bad weather has slashed oil production in North Dakota by almost 80 percent, and restoring the lost output could take several days. North Dakota, home to Continue Reading
U.S. Renewables Power Generation Surpassed Nuclear In 2021
Electric power sector generation from renewable sources totaled 795 million MWh in the United States in 2021, surpassing nuclear generation. Electric power sector generation from renewable sources totaled 795 million Continue Reading
NATO says it’s ready to back Kyiv for years in war against Russia
NATO is ready to maintain its support for Ukraine in the war against Russia for years, including help for Kyiv to shift from Soviet-era weapons to modern Western arms and Continue Reading
Germany Drops Opposition to Embargo on Russian Oil
Germany is now ready to stop buying Russian oil, clearing the way for a European Union ban on crude imports from Russia, government officials said. Berlin had been one of Continue Reading
EU Tells Gas Companies Not to Bend to Russia’s Demand for Rubles
European Commission President Ursula von der Leyen says the move by Russia to halt gas delivery to certain European Union member states is a form of blackmail. “The era of Continue Reading
More of Europe’s crude supply is coming from deep in the heart of Texas
U.S. crude exports to Europe climbed in March and April as buyers across the Atlantic snapped up the country’s light sweet grades to offset the expected loss of Russian oil, Continue Reading