UK Gov Energy Reps Stay on as Resignations Mount
Since Tuesday, more than 50 MPs have resigned. The UK Secretary of State at the Department of Business, Energy and Industrial Strategy (DBEIS), Kwasi Kwarteng, and the UK Minister of Continue Reading
France plans full nationalisation of power utility EDF
France will fully nationalise EDF (EDF.PA) , Prime Minister Elisabeth Borne said on Wednesday, in a move that would give the government more control over a restructuring of the debt-laden Continue Reading
Crude oil futures rebound after overnight plunge, but sentiment remains fragile
ICE Brent plunges more than 9% overnight Sentiment remains fragile on recession fears Norway workers’ strike ends after government intervention Crude oil futures were higher in mid-morning Asian trade July Continue Reading
Oil Steadies Near $100 After Growth Worries Stoke Mammoth Drop
Oil steadied around $100 a barrel, with Goldman Sachs Group Inc. arguing that a plunge driven by fears a recession will hurt demand was overdone. West Texas Intermediate rose 0.8%, Continue Reading
Later-dated Brent crude contracts trade below $100/bbl
Brent crude futures for delivery in November on Tuesday traded below $100 per barrel for the first time since mid-May, according to Refinitiv Eikon data, highlighting a market structure that Continue Reading
Brent oil falls as recession fears increase fuel demand concerns
Brent oil prices dipped on Tuesday, reversing earlier gains of $1, as concerns of a possible global recession curtailing fuel demand outweighed supply disruption fears, highlighted by a potential production Continue Reading
Citi Says Oil May Collapse to $65 by the Year-End on Recession
Oil to Remain Above $80 Even With a Recession: Analyst Crude oil could collapse to $65 a barrel by the end of this year and slump to $45 by end-2023 Continue Reading
Oil Prices Pulled Lower by Dimming Demand
Slowing demand and recession fears helped bring the benchmark U.S. oil price below $100 a barrel Tuesday, continuing a rapid turnaround from soaring levels in recent months. Oil prices shot Continue Reading
Inflation Sends Egypt Private Sector Into Worst Slump Since 2020
Egypt’s non-oil private sector economy had its worst performance in two years as demand slumped after a sharp spike in prices and the pound’s devaluation while businesses struggled to secure Continue Reading
OPEC Secretary-General Barkindo who helped forge alliance with Russia dies
OPEC Secretary-General Mohammed Barkindo, who helped forge the creation of the 23-member OPEC+ coalition, has died at the age of 63, less than one month before he was supposed to Continue Reading