China’s economy descended deeper into a Covid-19-induced doldrums last month, raising questions about whether Beijing’s planned stimulus measures can prevent a prolonged downturn. Consumer spending and factory output tumbled in Continue Reading
China’s crude throughput slumped 10.5% year on year to a two-year low of 12.66 million b/d, or 51.81 million mt in April, as COVID-19 resurgence hurt oil demand, the National Continue Reading
North Korea has mobilized its military to distribute COVID medications and deployed more than 10,000 health workers to help trace potential patients, as it fights a sweeping coronavirus wave, state Continue Reading
As China’s rainy season starts, National Climate Center forecasts show that flooding in the north and south of the country could be as bad as last summer when torrential rain Continue Reading
America’s shale oil companies are enjoying a cash bonanza, as soaring oil prices and months of capital restraint transform the fortunes and balance sheets of a sector once notorious for Continue Reading
U.S. gasoline demand is resilient despite all-time high prices. As of May 16, the nationwide average price of a gallon of regular gasoline was $4.483. Gasoline demand in the United Continue Reading
Highlights Lithium-ion to be used for short duration Increased power price volatility expected Cost and limits on the availability of key materials currently used in battery manufacture have set a Continue Reading
The EIA’s newest Henry Hub forecasts mark a notable increase to the organization’s previous projections. The U.S. Energy Information Administration (EIA) expects the Henry Hub natural gas spot price to Continue Reading
The invasion of Ukraine has put the US and Europe on a wartime mission to abandon Russian fossil fuels. This series looks at speeding up zero-carbon alternatives by lowering political Continue Reading
Highlights Summer-winter spreads just 10-15 cents at Eastern Gas Strong spot, near-term demand boosting summer prices Northeast gas storage 80 Bcf below average in mid-May Narrowing summer-to-winter forward price spreads Continue Reading
From record prices to blowout spreads and falling stockpiles, a handful of financial and physical indicators are pointing to expensive and possibly tighter gasoline markets across the US this summer. Continue Reading
Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise by 88,000 barrels per day (bpd) to a record 5.219 Continue Reading
The amount of crude oil in the U.S. Strategic Petroleum Reserve (SPR) dropped by 5 million barrels in the week to May 13, data from the U.S. Department of Energy Continue Reading
The European Commission has confirmed how European Union companies can pay for Russian gas without breaching the bloc’s sanctions against Russia, in updated guidance on the issue seen by Reuters. Continue Reading
Russian state-owned utility Inter RAO will stop exporting electricity to Finland from Saturday because it has not been paid, the company’s Finnish subsidiary said on Friday. Inter RAO has not Continue Reading
The Russian rouble weakened on Tuesday, stepping away from near five-year highs against the euro, after the central bank eased some capital controls that were the main driver of its Continue Reading
EU foreign ministers failed on Monday in their effort to pressure Hungary to lift its veto of a proposed oil embargo on Russia, with Lithuania saying the bloc was being Continue Reading
Sweden will formally apply for NATO membership in the next few days, Prime Minister Magdalena Andersson said on Monday, but its accession process, and that of Finland, hit a snag Continue Reading
The Russian rouble firmed past 64 per dollar on Monday, briefly jumping to 62.71 to the greenback, and climbed towards its highest in nearly five years against the euro, supported Continue Reading
The price for Britain’s motorists to fill up their cars with diesel reached a fresh high, in another blow to consumers grappling with the nation’s cost-of-living crisis. The average UK Continue Reading
Russia’s invasion of Ukraine has sparked an economic crisis throughout Europe. Supply chain concerns and a surge in energy prices have led to rampant inflation across the continent. Despite historic Continue Reading
Germany to end Russian oil imports by the end of the year. Germany had signaled before that it was ready to ditch Russian oil as well as Russian gas. Hungary Continue Reading
The European Union is gearing up to release emergency measures for a full-scale gas supply shock on Wednesday, with a leaked memo calling for a range of potential actions, from Continue Reading
With the world’s largest oil traders scaling back Russian crude exports, the market is trying to figure out who is going to fill the void. The answers include a medium-sized Continue Reading
Oil prices fell on Monday, paring early gains as investors took profit following a surge in the previous session, albeit in the shadow of supply fear as the European Union Continue Reading
Oil retreated for the first time in four sessions as Covid-19 lockdowns strained the economy in China, the world’s biggest crude importer. West Texas Intermediate slid to trade near $110 Continue Reading
Saudi Arabia is on track to lift oil production capacity by more than 1 million barrels per day to over 13 million barrels bpd by the end of 2026 or Continue Reading
A heavy sandstorm in Iraq, the latest of what Iraqis say is an unprecedented number to hit the country in recent weeks, closed some state schools and offices and halted Continue Reading
A family migrates in search of grazing land in Wajir County, Kenya. A worsening drought has left 3.5 million people in need of food aid in Kenya. The number of Continue Reading
Wheat Soars as India Restricts Exports Wheat jumped by the exchange limit after India’s move to restrict exports, exposing just how tight global supplies are after the war in Ukraine Continue Reading
Japanese manufacturers are increasingly looking to move offshore operations to their home market, according to a Tokyo Steel Manufacturing Co. executive. The rapidly weakening yen that boosts the competitiveness of Continue Reading
Trade in China’s thermal coal futures has almost come to a halt after Beijing stepped up its control of coal prices to rein in the soaring costs of energy and Continue Reading
China processed 11% less crude oil in April than a year earlier, with daily throughput falling to the lowest since March 2020 as refiners slashed operations on weaker demand due Continue Reading
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensure security of the country’s energy supply, Continue Reading
Shanghai set out plans on Monday for the end of a painful COVID-19 lockdown that has lasted more than six weeks, heavily bruising China’s economy, and for the return of Continue Reading
Army medical corps told to stabilise supply of medicine Leader’s order comes before visits to pharmacies in capital Pharmacies seen to lack equipment for the task -KCNA S.Korea offers talks Continue Reading
For evidence of just how tight Shanghai’s lockdown has been, consider this: not a single car was sold in the city last month. The majority of the city’s 25 million Continue Reading
North Korean leader Kim Jong Un criticized officials over slow medicine deliveries and mobilized the military to respond to a surge in suspected COVID-19 infections, as his nation struggled to Continue Reading
China’s economic activity contracted sharply in April as a wave of lockdowns across the country posed the most significant challenge to its growth prospects since Covid-19 emerged more than two Continue Reading
NOIA President Erik Milito has issued a response to the decision not to move forward with planned GoM and Alaska oil and gas lease sales. National Ocean Industries Association President Continue Reading
Skyrocketing natural gas prices have raised manufacturing and transportation costs across many U.S. industries, and the situation should persist as the United States exports more gas to Europe to make Continue Reading
Ukraine’s gas transit system operator said over the weekend that it had resumed operations at two distribution stations in the Kharkiv region and restarted gas supply to more than 3,000 Continue Reading
The euro area’s pandemic recovery would almost grind to a halt, while prices would surge even more quickly if there are serious disruptions to natural-gas supplies from Russia, according to Continue Reading
French auto maker Renault RNO -0.30%▼ SA has reached a deal to cede its 68% stake in Russia’s biggest car maker to a state-backed entity for one ruble and a Continue Reading
IEA: slowing demand growth and rising production from other major oil economies will help weather the effect of sanctions on Russia. IEA revises demand growth figures for 2022. Accelerating inflation Continue Reading
Group of Seven finance chiefs are set to make their biggest appraisal yet of how the world has changed since the start of Russia’s war in Ukraine some 80 days Continue Reading
India’s move to restrict wheat exports is set to reverberate through global agricultural markets, exposing just how tight global supplies are after the war in Ukraine and threatening to drive Continue Reading
The Iraqi Kurdistan region’s fractious internal politics are threatening to derail the construction of a pipeline that could enable future natural gas exports to Turkey — a potential setback for Continue Reading
State-owned oil producer Saudi Aramco on Sunday reported an almost 82% rise in first-quarter net profit, broadly in line with analyst forecasts, helped by strong oil prices. Aramco, which is Continue Reading
South African state power utility Eskom said on Saturday that it would resume power cuts from 5 p.m. (1500 GMT) to 10 p.m. due to loss of some generation capacity. Continue Reading
