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Month: June 2022

Category:
  • Prices

Oil steady as fuel stocks counter supply concerns

Oil prices were largely steady in volatile trading on Thursday as the market weighed concerns over global supply against a build in U.S. fuel product inventories. Brent crude futures for Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Prices

Oil Set for First Monthly Decline This Year Before OPEC+ Meeting

Oil is heading for the first monthly decline since November as OPEC+ ministers prepare to gather to discuss the group’s supply policy. West Texas Intermediate futures traded near $110 a Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Prices

Oil Likely To Hit $200: SEB Group

Oil prices are likely to soar past $200 per barrel if G7 manages to cap the price of Russian crude oil, according to chief commodities analyst at Swedish bank SEB Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • G7

The G7 Has Paved The Way For Increased Oil And Gas Spending

Underinvestment in oil and gas in the past few years is seen as one of the main reasons for the current imbalance between supply and demand. G7 nations have acknowledged Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Wind

Offshore wind industry growth falling short of net zero goals

The global offshore wind industry had a record year in 2021 in terms of new capacity but is still projected to fall short of the International Energy Agency’s net zero Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Iran
  • USA

Iran, U.S. Nuclear-Deal Talks End Without Progress

The reactor building of the Bushehr nuclear power plant in southern Iran. Indirect talks between Iran and the U.S. on reviving the 2015 nuclear deal ended without a breakthrough on Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • OPEC

Oil production test looms for OPEC heavyweights Saudi Arabia, UAE

Highlights Gulf producers face questions over sustainable capacity Saudi Arabia’s August quota a level it has only achieved twice OPEC pressed to pump more, as Biden prepares Saudi visit Saudi Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Iraq

USA Condemns Mortar Attacks on IKR Oil Infrastructure

‘These attacks are designed to undermine economic stability’. U.S. Department of State Spokesperson Ned Price has stated that the U.S. stands with its partners in condemnation of the repeated rocket Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • OPEC

OPEC+ meets with little prospect of pumping more oil

 OPEC+ enters a second and final day of meetings on Thursday with sources saying the group is unlikely to decide imminently to pump more barrels to the market beyond August. Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Saudi Arabia

Saudi Arabia may raise Aug crude prices to Asia to near record levels

Top oil exporter Saudi Arabia may raise prices of light crude grades to Asia for the second straight month in August on the back of record distillate margins and strong Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Iran

After Israel’s Spies Hit Iran Hard, an Intelligence Official Loses His Job

For more than a decade, he was a feared presence in Iran, presiding over a vast intelligence apparatus. He crushed domestic dissent and political rivals and expanded covert operations beyond Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • OPEC

Has OPEC+ Reached Peak Production Capacity?

OPEC+’s two-year production pact is sent to end in August. The war premium on oil has kept prices elevated, adding inflationary pressure across the globe. OPEC has routinely struggled to Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • OPEC

OPEC+ begins policy debate as capacity constraints loom

OPEC and OPEC+ begin a series of two-day meetings on Wednesday with sources saying chances of a big policy change look unlikely this month. At its last meeting in early Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • India
  • Russia

Russia Muscles In on Indian Oil Market at Expense of OPEC Titans

Oil barrels and a metro train in Faridabad, India. Watch out Iraq and Saudi Arabia, Russia is making huge inroads into the Indian oil market and has quite possibly become Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • India

Monsoon rains, European demand set to keep India’s gasoil exports robust

India’s diesel exports in May posted a growth of 15.2% compared with the previous month and are set to rise further, as the arrival of monsoon rains is expected to Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Ecuador

Ecuador’s Oriente crude exports suspended, Napo flowing amid force majeure

Exports of Ecuador’s flagship Oriente crude remain suspended under a force majeure declaration as the spread of anti-government protests hurts oil output, state-run Petroecuador said on Wednesday. At least eight Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Japan

Japan’s June flames out with record heat, but power crunch averted

Japan’s electricity grid creaked on Thursday under the strain of Tokyo’s hottest June since records began, but a power crunch that could have deprived tens of millions of electricity was Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • China

China’s World-Beating Stock Rally Is Forecast to Strengthen More

It’s official: Chinese equities are once again in vogue, after months of regulatory crackdowns, deleveraging and stringent virus curbs wiped trillions of dollars off benchmark gauges. A Bloomberg survey of Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Australia

Australia Bets on Clean Power to Avoid Another Market Failure

 Australia’s biggest grid has released a multibillion-dollar plan to ease its transition away from coal and avoid pitfalls that earlier this month led to the unprecedented step of temporarily taking Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Oil Supply
  • USA

U.S. crude stocks down, fuel inventories up as refiners hit the gas -EIA

 U.S. crude stocks fell in the latest week but fuel inventories rose, the government said on Wednesday,as refiners picked up activity, while industry production hit its highest in more than Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Economy
  • USA

Companies cut spending, jobs as outlook grows less certain

Executives at electric car marker Tesla, drug maker Novartis and retailer Bed Bath and Beyond are cutting spending or jobs while others are shelving projects or deals as inflation rages Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Transportation
  • USA

Road-Fuel Demand to Peak by 2027 With Efficiency Improvements

‘More Pain at the Pump to Come,’ Stephen Schork Says Global road fuel demand will peak in five years though it will be decades before shifts in consumption reshape transportation’s Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Electric Cars

Ford’s Talk of New EV-Selling Rules Rattles Some Dealers

Ford F -2.46%▼ Motor Co. is preparing new rules for how it sells electric vehicles, a shift that is concerning some dealers and seen as challenging the traditional franchise model. Executives from the Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • USA

Biden administration oil, gas auctions kick off with thin industry response

The Biden administration’s first sale of oil and gas drilling rights on federal land garnered thin industry interest on Wednesday while environmental groups filed two separate lawsuits seeking to invalidate Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Economy

Markets Head Toward Worst Start to a Year in Decades

Global markets are set to close out their most bruising first half of a year in decades, leaving investors bracing for the prospect of further losses. Accelerating inflation and rising Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Economy
  • USA

Consumer Spending Gains Likely Cooled in May, Economists Say

Household spending may be running out of momentum, economists say, as Americans face the highest inflation in four decades and incomes that haven’t kept up with price increases. U.S. consumers Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Electric Cars

The Rush for EVs and Other Rental Cars That Don’t Guzzle Gas

Many drivers aren’t looking for free upgrades when they rent cars for summer road trips. They are more concerned with fuel efficiency. The cost of gasoline has retreated slightly from the record highs Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Shale Oil

Permian Highway Pipeline will move forward with brownfield expansion

Permian Highway Pipeline reached a final investment decision to move forward with a proposed expansion project, Kinder Morgan said June 29, part of a wave of new takeaway capacity projects Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Oil Supply
  • USA

Delayed EIA Inventory Report Shows Crude Draw, Products Build

Oil prices climbed higher today after the U.S. Energy Information Administration reported a crude oil inventory draw of 2.8 million barrels for the week to June 24. A day earlier, Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Netherlands

Dutch government to invest 750 mln euros to develop hydrogen network

The Dutch government on Wednesday said it would invest 750 million euros ($789 million) through to 2031 to develop a national hydrogen transportation network. In a letter to parliament, Energy Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Russia

Putin still wants most of Ukraine, war outlook grim -U.S. intelligence chief

Russian President Vladimir Putin attends Caspian Summit in Ashgabat, Turkmenistan June 29, 2022. Sputnik/Grigory Russian President Vladimir Putin still wants to seize most of Ukraine, but his forces are so Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Shell

Shell Warns Spare Oil Capacity Is Running Very Low

Shell CEO van Beurden: spare capacity is running very, very low. van Beurden: demand for oil and gas is still recovering despite the current economic and pandemic challenges. Shell: it Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Russia

Russia’s Oil Production Jumps By 5% In June

Russia’s crude and condensate production has increased in June by 5% to an average of 10.7 million barrels per day (bpd), Russian daily Kommersant reported on Wednesday, quoting sources familiar Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Germany
  • Wind

Germany’s Energy Crisis Could Worsen Amid Low Wind Power Output

The energy crisis in Germany risks becoming more severe in the coming days as wind power generation will dip amid low wind speeds this week, according to a Bloomberg weather Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Ukraine

Russia abandons Snake Island in strategic victory for Ukraine

KYIV, June 30 (Reuters) – Russian forces announced on Thursday they had abandoned the strategic Black Sea outpost of Snake Island, in a major victory for Ukraine that could loosen Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Russia

Gazprom cancels dividend for first time since 1998, shares dive

Logo of the Russian energy company Gazprom is seen on а station in Sofia, Bulgaria, April 27, 2022. REUTERS/Spasiyana Sergieva MOSCOW, June 30 (Reuters) – Russian gas giant Gazprom (GAZP.MM) Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Nord Stream

Technical problem with Nord Stream 1 a Russian pretext – German EconMin

A technical problem with the Nord Stream 1 gas pipeline reported by Russia is merely a pretext, German Economy Minister Robert Habeck said on Thursday. “We are in a gas Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Ukraine
  • USA

U.S. sends Ukraine $1.3 billion in emergency economic aid

The Treasury Department on Wednesday announced the delivery of $1.3 billion in economic aid to Ukraine, as the United States seeks to help the beleaguered nation respond to the enormous Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Europe

Gas Supplies to Europe Holding Firm

‘Market participants are still wary of further supply cuts and elevated prices though’. Gas supplies to Europe are holding firm despite ongoing troubles at the Nord Stream 1 pipeline, leaving Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Hydrogen

The Future Is Bright For Green Hydrogen

Green hydrogen is one of the most promising clean energy opportunities on the market, but it has proven to be prohibitively expensive. A combination of oil majors and governments are Continue Reading

Posted On : 30 Jun 2022 Published By : Tom Whipple
Category:
  • Prices

Crude oil futures dip as 3-day rally loses steam, US consumer confidence falls

Crude oil futures were lower in mid-morning trade in Asia June 29 in a sign that a three-day rally has run out of steam, with latest US consumer confidence data Continue Reading

Posted On : 29 Jun 2022 Published By : Tom Whipple
Category:
  • Prices

Oil Markets Could Face A Doomsday Scenario This Week

Expect lots of oil price volatility in the coming months as markets finally discover just how much spare capacity OPEC members really have. Oil production outages in Libya and the Continue Reading

Posted On : 29 Jun 2022 Published By : Tom Whipple
Category:
  • Prices

Oil Pauses as Traders Await Double Dose of US Inventories

Oil took a breather after a three-day rally as traders continued to weigh the risk of an economic slowdown against ongoing tightness in the crude market. West Texas Intermediate traded Continue Reading

Posted On : 29 Jun 2022 Published By : Tom Whipple
Category:
  • Prices

Oil prices slide after three-day rally

 Oil prices fell on Wednesday, taking a break after gaining for three sessions, as concerns about the global economy weighed while tight supply curbed losses. Brent crude futures for August Continue Reading

Posted On : 29 Jun 2022 Published By : Tom Whipple
Category:
  • Climate
  • G7

G-7 Leaders Just Made Success at COP27 Even Harder

Olaf Scholz departs following his closing news conference on the final day of the G-7 summit in Elmau, Germany, on June 28.Photographer: Liesa Johannssen-Koppitz/Bloomberg Leaders of the world’s richest economies Continue Reading

Posted On : 29 Jun 2022 Published By : Tom Whipple
Category:
  • G7

G7 cautiously backs Russian oil price cap, pledges to boost energy security, stability

G7 leaders on June 28 tentatively backed plans for an international cap on Russian oil prices in response to the Ukraine war while pledging to boost energy security and try Continue Reading

Posted On : 29 Jun 2022 Published By : Tom Whipple
Category:
  • G7

G-7 to Allow Fossil-Fuel Financing If Climate Pledges Are Kept

An offshore oil well platform in the Gulf of Mexico.Photographer: Luke Sharrett/Bloomberg Group of Seven nations are set to allow some exceptional public financing of overseas fossil-fuel projects to continue Continue Reading

Posted On : 29 Jun 2022 Published By : Tom Whipple
Category:
  • Iraq

Oil services companies bow to Baghdad blacklist

Workers operate a drilling rig at the West Qurna 2 oil field in Basra. (ALI ABU IRAQ/Iraq Oil Report) Two of the world’s biggest oil services companies have informed the Continue Reading

Posted On : 29 Jun 2022 Published By : Tom Whipple
Category:
  • OPEC

OPEC+ begins policy debate as capacity constraints loom

A person operates a tap of crude oil during the destruction of Bakana ii illegal camp, in Okrika, Rivers state, Nigeria January 28, 2022. REUTERS/Afolabi Sotunde/File Photo LONDON, June 29 Continue Reading

Posted On : 29 Jun 2022 Published By : Tom Whipple
Category:
  • Iran

Iran Looks To Join BRICS Group Of Russia And China

Iran has applied to join the BRICS group of major emerging economies, which includes China, Russia, and India, Reuters reported on Tuesday, a move that would help to secure an Continue Reading

Posted On : 29 Jun 2022 Published By : Tom Whipple

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