European drought dries up rivers, kills fish, shrivels crops
Once, a river ran through it. Now, white dust and thousands of dead fish cover the wide trench that winds amid rows of trees in France’s Burgundy region in what Continue Reading
U.S. gasoline prices fall below $4 for first time since March
The average price of U.S. retail gasoline fell below $4 per gallon on Thursday for the first time in months, giving some relief to drivers in the world’s largest consumer Continue Reading
Oil Inches Up as IEA Boosts Demand Outlook on Fuel Switching
Oil edged higher after the International Energy Agency boosted its forecast for global demand growth this year. West Texas Intermediate rose 0.9% to trade above $92 a barrel, after earlier Continue Reading
Global physical oil market weakens as recession jitters mount
Physical oil prices around the world have begun to sag alongside futures, reflecting less alarm over Russian-led supply disruptions along with heightened worries about a possible global economic slowdown. “The Continue Reading
Oil drops on Druzhba pipeline news and U.S. inflation expectations
Oil prices edged lower on Wednesday on expectations that Druzhba pipeline flows will resume shortly and demand concerns ahead of the publication of key demand indicators. Brent crude futures fell Continue Reading
IEA raises 2022 oil demand growth forecast by 380,000 b/d
Highlights Raises OPEC+ output ‘call’ for 2022 by 700,000 b/d, lowers 2023 estimate Oil output hits post-pandemic high, 1 million b/d rise seen by end-2022 Raises H2 Russian oil supply Continue Reading
Fitch: Global Coal Price Rally Could Last For Years
The rally in coal prices, which began at the end of last year and intensified after the Russian invasion of Ukraine and the subsequent EU ban on Russian coal imports, Continue Reading
World’s largest ice sheet risks melting, threatens spike in sea levels
Scientists say the window for protecting the world’s largest ice sheet from significantly shrinking is narrowing, with troubling new predictions that it has the potential to unleash sea level rises Continue Reading
Nigeria: Buhari Backs Down, Supports Regulator’s Rejection of Seplat’s Purchase of ExxonMobil Asset
President Muhammadu Buhari A spokesperson says the president decided the position of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is to be supported, and the earlier confusion was because “various Continue Reading
CHINA DATA: Independent refineries boost discounted crudes imports 33% on month in July
China’s independent refineries boosted imports of discounted crudes from Venezuela, Iran, and Russia by 32.8% month on month to 8.3 million mt, or 1.96 million b/d, in July via the Continue Reading