Oil falls as investors eye recession risks
Oil prices continued to retreat on Thursday as investors reassessed the risks of recession and the impact of interest rate hikes in major economies on fuel demand. U.S. West Texas Continue Reading
Erbil court postpones case against Oil Ministry leaders
The Kurdistan Regional Government’s (KRG) lawsuit against several federal Oil Ministry leaders was delayed Tuesday — the latest development in a series of legal battles over the implementation of February’s Continue Reading
Chinese Internet Giants’ Ad Revenue Suffers as Business Confidence Wanes
Companies in China are cutting back on digital-ad spending as the economy slows and recurring Covid-19 outbreaks weigh on consumption, another sign of waning business confidence in the world’s most Continue Reading
Africa: Glencore Subsidiary Pleads Guilty to Bribery At African Oil Operations
Glencore Energy on Tuesday admitted to paying over $28 million (€26.5 million) in bribes across five African countries to secure preferential access to oil and generate illicit profit. The United Continue Reading
Kazakhstan Speaks Out Against Russia Over Ukraine War
Tensions between Kazakhstan and Russia are reaching a boiling point. Awkward exchanges between leaders highlight weakness in the two countries’ alliance. Russia’s unprovoked war in Ukraine has left Kazakhstan and Continue Reading
U.S. Senate’s no. 2 Republican says gas tax holiday ‘dead on arrival’
President Joe Biden’s request that Congress pass a three-month suspension of the federal gasoline tax “is dead on arrival,” U.S. Senator John Thune, the second-ranking Republican in the Senate, said Continue Reading
Fed Paper Finds Elevated Probability of Recession
The U.S. economy faces elevated risks of a recession over the next one to two years due to rising imbalances in markets for goods and services, including labor, according to Continue Reading
Jay Powell warns US recession is ‘certainly a possibility’
Jay Powell said a US recession is “certainly a possibility” and warned that avoiding a downturn now largely depends on factors outside the Federal Reserve’s control. In testimony to the Continue Reading
API Reports Biggest Crude Oil Inventory Rise Since February
The American Petroleum Institute (API) reported a build this week for crude oil of 5.607 million barrels, while analysts predicted a draw of 1.433 million barrels. It is the first Continue Reading
Cheniere Energy authorizes expansion at Texas LNG export plant
Top U.S. liquefied natural gas (LNG) exporter Cheniere Energy Inc (LNG.A) on Wednesday gave the financial go-ahead to an $8 billion expansion of its Corpus Christi, Texas, plant and signaled Continue Reading