Residents queue for a Covid-19 test in the Hongkou district of Shanghai, China, on June 11. Bloomberg News China’s biggest cities are doubling down on Covid-19 testing in a bid Continue Reading
Chinese refining rates have dropped significantly since last May despite soaring fuel prices in the region. Officially, China is limiting the export quotas to discourage refiners from producing excessive amounts Continue Reading
Highlights Traders see new China export quotas just drop in bucket China to focus on exporting more gasoline than gasoil China unlikely to inject more jet fuel supplies into Asia Continue Reading
Highlights Russian pipeline gas supply cut in focus Outages in Atlantic basin to have knock on impact in Asia China may export cargoes as local demand stays weak Asian LNG Continue Reading
Recreational vehicle renters in the U.S. are planning trips closer to home or having fuel-gulping motor homes delivered to their final destination in an effort to cut down on fuel Continue Reading
Robust demand from Latin America is set to lift US Gulf Coast fuel exports to new heights this month, hampering efforts to build up national inventories amid soaring prices. Waterborne Continue Reading
The U.S. economy is starting to slow under the combined weight of soaring inflation and climbing interest rates—including the highest mortgage rates since 2008. Recent reports show sharp declines in Continue Reading
A rapid rise in American fuel exports this year has helped push gasoline prices to a record $5 a gallon and is pressuring U.S. prices of natural gas, which hit Continue Reading
Lower 48 states at 33-40% risk for hotter temperatures Heat risk highest for Northeast, Texas, the West Coal generation constrained by capacity, supply US gas-fired power generators could see a Continue Reading
As the Biden administration contemplates expanding punitive measures on Russia for its invasion of Ukraine, a big hurdle lies closer to home: the American consumer. U.S. drivers are embarking on Continue Reading
Concerns including energy costs, supply-chain snarls and China’s pandemic lockdowns are contributing to CEOs’ sense that a recession is likely. Most top executives say they think a recession is looming Continue Reading
In eastern Montana and Wyoming, massive flooding has destroyed bridges, swept away homes, and forced the evacuation of more than 10,000 visitors from Yellowstone National Park. Half a million households in the Continue Reading
U.S. refiners last month imported the most heavy crude in nearly two years, customs data showed, as they cranked up motor fuel production and sought to replace sanctioned Russian oil. Continue Reading
Global liquefied natural gas (LNG) buyers – especially in Europe – and some U.S. shale producers have been reeling since a June 8 blast shut Freeport LNG’s massive export terminal Continue Reading
Latest The talks in Kyiv come a day after the U.S. announced it would send $1 billion in new military aid to Ukraine. Ukrainian troops defending Severodonetsk are clinging on Continue Reading
German Economy Minister Habeck: reduction of Nord Stream 1 gas flows is a political decision. Gazprom further cut volumes to Germany on Wednesday. European gas benchmark prices soared on Wednesday Continue Reading
Following the U.S. Fed’s biggest rate hike since 1994 on Wednesday, which brought oil prices down 1%, central banks across Europe on Thursday raised interest rates by record amounts in Continue Reading
Russia could continue its participation in the OPEC+ oil production agreement even after it officially expires at the end of this year, Russian Deputy Prime Minister Alexander Novak said on Continue Reading
Highlights Exportable surplus set to grow to 41 mil mt for 2022-23: IKAR Russia will struggle to export over 3 mil mt/month: traders Panamax owners most reluctant to load from Continue Reading
Highlights European gas prices surge again after latest comments Nord Stream flows currently capped at 67 million cu m/d Peskov says cuts not ‘intentional’ on Russian side Any more problems Continue Reading
Flows of Russian gas to France via Germany have been halted since June 15, French pipeline operator GRTgaz said on Friday. The group said it had no information on the Continue Reading
European countries are experiencing a surge in Covid-19 hospitalisations driven by sub-variants of the highly infectious Omicron strain, threatening a fresh global wave of the disease as immunity levels wane Continue Reading
A punishing heat wave is underway in parts of Western Europe, with widespread temperatures near or above 104 degrees Fahrenheit (40 Celsius) expected through the weekend. Heat is expected to Continue Reading
European gas prices have soared by as much as 50% in just one week. The surge in prices was spurred by reduced Russian flows and an outage at a key Continue Reading
Novatek’s $21 billion liquified natural gas plant, Yamal Arctic 2, is one of many oil and gas projects in Russia that has been put on hold. The sanctions placed on Continue Reading
Oil prices erased early gains to head lower on Thursday, a day after a fall triggered by a U.S. interest rate hike, though tight supply limited losses. Brent crude futures Continue Reading
Fuel prices at a gas station in San Francisco, California, US. Photographer: David Paul Morris/Bloomberg Oil fell after the Federal Reserve delivered the biggest rate increase in almost three decades Continue Reading
Oil prices fell more than $3 on Wednesday as markets worried about a fall in demand after the Federal Reserve hiked interest rate by three-quarters of a percentage point. Brent Continue Reading
IEA Warns Global Oil Supply to Struggle to Meet 2023 Demand A wave of new oil refining capacity that’s coming on stream won’t be enough to solve a global shortage Continue Reading
Fuel markets, especially those of diesel and kerosene, may continue to be very tight amid uneven global demand growth rates and limits in the refining capacity, the International Energy Agency Continue Reading
Northern countries are racing to build undersea communications cables through the waters of the Arctic, as shrinking ice coverage opens the region to new business opportunities and heightens geopolitical rivalries Continue Reading
UN Secretary General: investing in fossil fuels is delusional. Anti-oil narrative clashes with reality of increasing demand. IEA has changed its narrative and is now calling for more production Last Continue Reading
Libya’s oil production has almost completely halted because of a political stalemate, officials told media, during a time of heightened global concerns over the supply of crude. The Libyan Ministry Continue Reading
The National Treasury now says fuel prices could increase further in the near future as the government seeks to gradually remove the subsidy cushioning Kenyans against high cost. In a Continue Reading
India is proposing to settle trade with Russia in rupees, according to a person with knowledge of the matter, as the South Asian nation presses ahead with purchases of oil Continue Reading
Australia, the world’s top exporter of coal and liquefied natural gas, is battling a power crunch, posing major challenges for the country’s new Labor government that wants to speed up Continue Reading
Sydney residents were urged on Thursday to conserve power in the evening as much as possible to avert blackouts, one day after Australia suspended its spot electricity market due to Continue Reading
South Korea will expand the role of nuclear energy in order to meet its climate target. President Yoon Suk Yeol’s new government will increase the portion of atomic power in Continue Reading
The Federal Reserve raised its target interest rate by three-quarters of a percentage point on Wednesday to stem a disruptive surge in inflation, and projected a slowing economy and rising Continue Reading
U.S. retail sales unexpectedly fell in May as motor vehicle purchases declined amid rampant shortages, and record-high gasoline prices pulled spending away from other goods. The first drop in sales Continue Reading
Gasoline and diesel prices in the Golden State may soar to fresh records in coming weeks as one of the largest refineries on the West Coast starts maintenance. Chevron Corp. Continue Reading
A return to full plant operations at the Freeport LNG liquefaction plant on Quintana Island, Texas, is not expected until late 2022. Freeport LNG Development L.P. has revealed that the Continue Reading
A rapid rise in American fuel exports this year has helped push gasoline prices to a record $5 a gallon and is pressuring U.S. prices of natural gas, which hit Continue Reading
he US is urging European capitals to seek ways of easing the impact of their ban on insuring Russian oil cargoes, arguing the measure could cause global crude prices to Continue Reading
President Biden has made it clear that he won’t take any tools off the table when it comes to bringing gasoline prices down. One such tool is an oil export Continue Reading
After plunging to a 5-week-low on Tuesday, natural gas prices in the U.S. have ramped up again, gaining 4% on Wednesday on excessive temperatures expected to last through next week. Continue Reading
The extended outage is ‘significantly longer’ than the three weeks that was initially reported. Freeport LNG’s expectation that full plant operations will come back online by late 2022, and a Continue Reading
Russia’s Gazprom (GAZP.MM) on Wednesday announced a further cut in the amount of gas it can pump through the Nord Stream 1 pipeline to Europe, a move Germany’s economy minister Continue Reading
Germany’s cabinet on Wednesday approved plans to require its 16 states to allocate a minimum amount of land to onshore wind farms, according to a ministry statement, as Berlin strives Continue Reading
German energy giant Uniper SE said it had received 25% less gas than contracted from Russia after Moscow curbed supplies via its biggest pipeline to Europe. The Dusseldorf-based company said Continue Reading
