Pricey Jet Fuel Punishes Airlines and Passengers
American drivers are feeling the pain of rising gasoline prices . Airlines and their customers have had it even worse. Jet fuel, a kerosene-based product akin to diesel fuel, has Continue Reading
What Happened on Day 50 of the War in Ukraine
Russia’s faltering war against Ukraine suffered a pair of setbacks Thursday when the flagship of Russia’s Black Sea fleet sank after a catastrophic explosion and fire, as the European Union Continue Reading
New York State backs long-term Canadian hydropower project
New York State on Thursday approved a multi-billion-dollar, long-term project by Montreal-based public utility Hydro-Quebec (QBEC.UL) to deliver hydropower to parts of New York City. Hydro-Quebec said its U.S. partner, Continue Reading
U.S. Natural Gas Prices To Spike As Exports Boom
Europe is determined to wean itself off Russian natural gas following Putin’s decision to invade Ukraine, and U.S. LNG is one of the major alternatives. Biden has already committed to Continue Reading
Demand Destruction May Kick In After Lithium Price Explosion
Lithium prices are beginning to slow their climb after a 500% rally. High lithium carbonate prices have begun to dampen demand. The EV industry has failed to secure a sufficient Continue Reading
Competition for gas amid winter storm pushes Rockies spot prices up to two-month highs
Rockies spot gas climbs above $6.70/MMBtu on April 14 Demand for Rockies gas could remain elevated in near term Spot natural gas prices in the Rockies hurtled up to two-month Continue Reading
US natural gas storage rises 15 Bcf, lifting stocks to 1.397 Tcf as deficit grows
Deficit to five-year average expands to 303 Bcf NYMEX Henry Hub prompt hits $7.25/MMBtu Cool weather expected to linger into late April US natural gas storage activity flipped back to Continue Reading
US oil, gas rig count remains steady at 791; Permian gains most rigs: Enverus
Permian at 337 rigs, still 90+ shy of pre-pandemic levels But most basins lost rigs or stood still on week March US shale permits at a monthly high The US Continue Reading
Feature: Low production, strong demand to buoy US summer gasoline prices
Diesel prices surpass gasoline, see nearly 62 cents/gal premium Lower USAC gasoline production, imports point to tight summer E15 waivers, SPR crude releases attempt to mitigate high prices US EIA Continue Reading
Germans should save energy to put pressure on Russia – minister
Germans should start saving energy now to become more independent from Russian fossil fuels, Economy Minister Robert Habeck said, as Europe’s top economy looks for ways to cut gas and Continue Reading
Putin tells Europe: You still need Russian gas but we’re turning east
President Vladimir Putin said on Thursday that Moscow would work to redirect its energy exports eastward as Europe tries to reduce its reliance on them, adding that European nations would Continue Reading
Russia may be in default, Moody’s says
Moody’s said Russia may be in default because it tried to service its dollar bonds in roubles, which would be one of the starkest consequences to date of Moscow’s exclusion Continue Reading
U.S. cannot ‘take lightly’ threat Russia could use nuclear weapons – CIA chief
The threat of Russia potentially using tactical or low-yield nuclear weapons in Ukraine cannot be taken lightly, but the CIA has not seen a lot of practical evidence reinforcing that Continue Reading
Mercedes EV Breaks 1,000-Kilometer Range Barrier to Outdo Tesla
The Mercedes VISION EQXX.Source: Mercedes-Benz A Mercedes-Benz AG electric car drove more than 1,000 kilometers (621 miles) from Germany to the French Riviera on a single charge, taking the fight Continue Reading
Putin Says Western Sanctions Have Disrupted Russian Oil Industry
AD Loading advertisement… 00:00 / 05:33 This article is in your queue. President Vladimir Putin acknowledged that Western sanctions have stymied Russia’s energy industry, the country’s economic engine, and that Continue Reading
Crude oil futures ease as rally falters on US crude stock build
Crude oil futures were lower in mid-morning Asian trade on April 14, as a two-day rally in oil prices lost steam after data showed US crude oil stocks last week Continue Reading
Oil prices fall as market weighs mixed supply signals
Oil prices slipped on Thursday amid thin trading volumes ahead of a public holiday, as traders weighed a larger-than-expected build in U.S. oil stocks against tightening global supply. Brent futures Continue Reading
Heaviest Downpour in Six Decades Shuts Key South African Port
South Africa suspended shipping at its main port in Durban after the heaviest rains in more than six decades and resultant flooding damaged roads leading to the harbor. Operations at Continue Reading
Shanghai cases hit record as Xi reiterates urgency of COVID curbs
China’s financial hub Shanghai reported over 27,000 coronavirus cases on Thursday, a new high, a day after President Xi Jinping said that the country must continue with its strict “dynamic Continue Reading
China’s Banks Are the Last Big Players in Coal Company Financing
As the planet lurches toward catastrophic levels of warming, China’s biggest banks have been ratcheting up their financing of the dirtiest fossil fuel of all: coal. Chinese lenders have helped Continue Reading
What’s Keeping China From Buying More Russian Crude?
Russia is offering deep discounts for its crude following a wave of sanctions on its energy industry. While China and India are still buying some discounted oil, logistical hurdles are Continue Reading
China to surpass US as world’s top refiner in 2022 with 18.8 mil b/d capacity: ETRI
Small-scale private refining capacity’s share fell to 21% in 2021 Call for more oil product export quota to offset stock pressure NEV sales up despite fall in total car sales Continue Reading
Britain will have enough gas this summer, National Grid says
Britain will have enough gas supply to meet demand from April to September, National Grid said in its annual summer outlook on Thursday. Total UK gas demand is forecast at Continue Reading
Austrian leader says Putin told him gas payments in euros can continue
No other EU leader has meet Putin since Ukraine invasion Nehammer’s accounts had focused on war’s human tragedy Russia appears to have kept door open to payment in euros Austria Continue Reading
Ukraine says missiles struck Russian flagship crippled by blast
The flagship of Russia’s Black Sea fleet was seriously damaged and its crew evacuated on Thursday, following an explosion on board that Ukraine said was caused by a missile strike. Continue Reading
U.S. gives Ukraine $800 million more in military aid, adds heavy weapons
U.S. President Joe Biden announced an additional $800 million in military assistance to Ukraine on Wednesday, expanding the scope of the systems provided to include heavy artillery ahead of a Continue Reading
Companies Size Up Their Losses on Russian Operations
Share The consequences of harsh economic sanctions against Russia are already being felt across the globe. The cost to shareholders of Western companies’ exodus from Russia will become clearer in coming weeks, Continue Reading
The Threat Of Russian Cyberattacks On Western Infrastructure Is Growing
Reports of Russian cyberattacks on Ukrainian infrastructure are mounting. German infrastructure has been targeted, as well, with an attack that paralyzed 11GW of power in late February. “Conflict in Ukraine Continue Reading
Oil prices edge higher with falling supplies in focus
Oil prices edged higher on Wednesday after Moscow said that peace talks with Ukraine had hit a dead end, fuelling supply worries, while weak economic data from China and Japan Continue Reading
Oil Prices Hold Gains Despite Major Crude Inventory Build
The American Petroleum Institute (API) reported a surprise build this week for crude oil of 7.757 million barrels, compared to analyst predictions of a 1.367 million barrel build. U.S. crude Continue Reading
Is $100 Oil Sustainable?
There are a number of factors that have pushed oil prices into the stratosphere, but the rally may be becoming unsustainable. Russia’s war in Ukraine has created a particularly tight Continue Reading
IEA Cuts Oil Demand Forecast as China Reimposes Lockdowns
China consumption estimate reduced by 925,000 b/d in April Global market now seen in balance for much of the year The International Energy Agency cut its forecast for global oil Continue Reading
IEA trims global oil demand forecast on China weakness
The International Energy Agency has lowered its global oil demand forecast because of surging coronavirus cases in China and weaker than expected demand in the US and other developed countries. Continue Reading
Energy Consultancy Warns Economic Growth Could Slow
Wood Mackenzie has produced a downside scenario for the global economy. Global economic growth could slow to 2.5 percent year on year in 2022 and 0.7 percent in 2023 due Continue Reading
Saudi Arabia leads OPEC decision to drop IEA data as US ties fray
A decision driven by Saudi Arabia that OPEC+ should stop using oil data from the West’s energy watchdog reflected concern about U.S. influence on the figures, sources close to the Continue Reading
East African oil pipeline hits the headwinds
Climate activists are urging more banks and insurers not to back the controversial $5 billion East African Crude Oil Pipeline that is primed to transport oil from the Hoima oilfields Continue Reading
The Fertilizer Shock Might Change Agriculture—for the Better
James Cox counts himself lucky. The owner of a 687-acre farm in Gloucestershire, a bucolic county in the southwest of England known for its quaint villages and rolling landscape, bought Continue Reading
Methane Leaks Make LNG-Powered Ships Dirtier Than Other Vessels
Leaking Methane Makes LNG-Powered Ships Dirtier Than Fuel Oil Methane leaks from ships using liquefied natural gas as fuel make most of the vessels dirtier than ones using diesel or Continue Reading
OPEC Raises Oil Production By Just 57,000 Bpd In March
OPEC raised its oil production by just 57,000 barrels per day (bpd) in March from February, as African members’ struggles to pump more crude partially offset increases at the core Continue Reading
Nigeria’s Oil Production Dips to 1.24m Bpd, Lowest This Year
All is not well in Nigeria’s oil industry as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) stated that oil output dropped to an average of 1.24 million barrels per day Continue Reading
China March crude oil imports fall 14% on yr, gas imports lowest since Oct 2020
China’s crude oil imports slipped 14% in March compared with the same month a year earlier, extending a two-month slide as independent refiners curbed purchases under narrowing margins and large Continue Reading
Exclusive: China’s oil champion prepares Western retreat over sanctions fear
CNOOC preparing to exit Britain, Canada, U.S. -sources Beijing concerned over growing tension with West Production in three countries reached 220,000 boed last year LONDON/SINGAPORE, April 13 (Reuters) – China’s Continue Reading
Shanghai vows punishment for COVID lockdown violators as cases hit 25,000
The Chinese commercial capital of Shanghai warned on Wednesday that anyone who violates COVID-19 lockdown rules will be dealt with strictly, while also rallying citizens to defend their city as Continue Reading
China’s imports unexpectedly fall on domestic COVID curbs
China’s imports unexpectedly fell in March as COVID-19 curbs across large parts of the country hampered freight arrivals and weakened domestic demand, while export growth slowed, prompting analysts to expect Continue Reading
China’s Exports to Russia Slump After Ukraine Invasion
Exports dropped 7.7% in March even as total shipments rose Imports rose 26.4%, with rising energy prices likely a factor Bloomberg News China’s exports to Russia slumped in March after Continue Reading
Shanghai lockdown stokes global supply chains anxiety
One of the world’s largest electronics manufacturing hubs near Shanghai is grinding to a halt, aggravating China’s economic worries and exacerbating disruption to global supply chains. Dozens of producers of Continue Reading
China’s ‘Zero-Covid’ Mess Proves Autocracy Hurts Everyone
Long before the “zero Covid” policy, China had a “zero sparrow” policy. In the spring of 1958, the Chinese government mobilized the entire nation to exterminate sparrows, which Mao declared Continue Reading
Shanghai’s Tesla Factory Could Be Shuttered Until Mid-May
With all of the chaos taking place in Shanghai as a result of a new round of mysteriously overbearing Covid lockdowns, there has been very little attention paid to Tesla’s Continue Reading
China’s Q2 met coal supply seen limited, coking sector’s stocks dip: sources
China’s metallurgical coal supply is expected to remain limited in the second quarter of 2022, as coking sector’s inventories deplete and Mongolian coal suppliers face logistical hurdles, industry sources said Continue Reading
CHINA DATA: March crude imports up 6% on month to 10.1 mil b/d
Highlights Q1 crude imports fall 8% on year Crude imports in April, May to fall March oil product exports drop 40% on year China’s crude oil imports in March rose Continue Reading