Oil prices were down slightly on Friday but set to rise on the week as recession fears eased though an uncertain demand outlook capped gains. Brent crude futures were down Continue Reading
OPEC expects global oil markets to tip into a surplus as the I.E.A. boosted its forecast for global demand growth this year. Elizabeth Low reports. Oil headed for the biggest Continue Reading
Oil prices settled up more than $2 on Thursday after the International Energy Agency raised its oil demand growth forecast for this year as soaring natural gas prices have some Continue Reading
The price of retail gasoline just dipped below $4 per gallon, AAA data showed on Thursday, but prices could rise to $5 per gallon by the end of the year, Continue Reading
OPEC expects global oil markets to tip into surplus this quarter. The surprising revision, which comes at a time of unprecedented pressure by western nations. Analysts are wondering whether OPEC+ Continue Reading
OPEC’s total crude oil production rose by 216,000 barrels per day (bpd) in July compared to June, but combined production from the 10 OPEC members part of the OPEC+ pact Continue Reading
OPEC on Thursday cut its 2022 forecast for growth in world oil demand for a third time since April, citing the economic impact of Russia’s invasion of Ukraine, high inflation Continue Reading
Highlights Military recovers 3.75 mil barrels of stolen crude Nigeria losing close to 400,000 b/d oil output to theft: NNPC Bonny Light, Forcados exports remain disrupted Nigerian security agencies have Continue Reading
Kazakhstan is expected to sell some of its crude oil through Azerbaijan’s biggest oil pipeline from September, as the nation seeks alternatives to a route Russia threatened to shut, three Continue Reading
Cubans have been left to endure six- to 18-hour blackouts, and search for ever-scarcer gasoline in the wake of a spectacular blaze that destroyed 40% of Cuba’s main fuel depot Continue Reading
China’s deflating property bubble is imperiling the world’s second-largest economy with effects that could ripple for years. Home prices are dropping in many cities after a long period of increase, Continue Reading
China’s state-run China Petrochemical Group, Sinopec, says it has discovered a massive oilfield in the Tarim Basin, containing 1.7 billion tons of oil reserves. The discovery is the result of Continue Reading
U.S. producer prices unexpectedly fell in July amid a drop in the cost for energy products and underlying producer inflation appears to be on a downward trend, while jobless claims Continue Reading
Six oil and gas fields in the Gulf of Mexico have been shut after a leak at a Louisiana booster station halted two pipelines in the region. Shell Plc on Thursday Continue Reading
Gulf NOCs are expanding their carbon capture and hydrogen capacity. Partnerships with foreign companies are creating new trade opportunities. Middle East could capture up to 50m tonnes per annum of Continue Reading
Even after US gasoline prices reached historic highs during the coronavirus pandemic, they somehow found more room to rise in 2022 after Russia invaded Ukraine . Strong demand and a Continue Reading
The climate and energy package awaiting final approval by Congress aims to achieve two goals that are not always compatible: Make electric vehicles more affordable while freezing China out of Continue Reading
The value of mergers and acquisitions in U.S. shale fell by 65% in the second quarter of 2022 compared to a year earlier. Now, interest in acquisitions appears to be Continue Reading
Water level at Kaub to fall to 33-centimeter marker by Aug. 15 River closure could significantly dent oil-product trade: FGE An exposed section of the Rhine River riverbed, due to Continue Reading
Oil flows have resumed from Russia to Hungary and Slovakia via the Ukrainian section of the Druzhba oil pipeline, Ukraine’s Naftogaz said on Thursday, days after being suspended over payment Continue Reading
At least two floating liquefied natural gas terminals are heading for Europe in the next several months as the region clamors to replace supplies cut off after Russia’s invasion of Continue Reading
Russian oil production and exports have been holding resilient in recent months, with much smaller declines than initially expected, the International Energy Agency (IEA) said on Thursday. But the agency’s Continue Reading
Highlights Supply crunch, few sellers underpin winter price: traders UK winter hedging echoes upswings prior to winter 2018, 2021 Europe could run short of natural gas this winter, market sources Continue Reading
President Vladimir Putin’s invasion of Ukraine set Russia’s economy back four years in the first full quarter after the attack, putting it on track for one of the longest downturns Continue Reading
Russia and Ukraine accused each other of shelling Europe’s biggest nuclear power plant, compounding fears of a disaster as the U.N. chief said it should be made a demilitarised zone Continue Reading
Water levels on the river Rhine in Germany have fallen again in dry weather on Friday, with some vessels no longer able to sail, shipping operators and brokers said. Rhine Continue Reading
Public buildings in Germany should be heated to a maximum of 19 degrees Celsius (66.2°F) under planned legislation to save energy, the Sueddeutsche Zeitung quoted the economy minister as saying Continue Reading
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
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 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
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 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
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
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
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
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’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
Bloomberg News China may be ready to curb some of the excess liquidity sloshing in the banking system as it turns its focus to mitigating risks in the financial industry. Continue Reading
U.S. consumer prices were unchanged in July due to a sharp drop in the cost of gasoline, delivering the first notable sign of relief for weary Americans who have watched Continue Reading
United Airlines Holdings Inc. UAL 2.35%▲ has paid a $10 million deposit for 100 electric flying taxis, a sign that the airline is growing more confident in the nascent technology. Continue Reading
The Inflation Reduction Act (IRA) includes more than $170 billion of tax credits for the electric industry, designed to encourage the shift from carbon-intensive fuels. An analysis carried out in Continue Reading
American refiners and oil and gas operators expect strong demand for fuels and energy through the remainder of the year, despite analyst concerns in recent weeks that demand could take Continue Reading
The largest gas exporter in the United States, Freeport LNG, has retracted its force majeure, according to anonymous sources who shared the information with Reuters, leaving traders to source product Continue Reading
Crude oil prices inched down before the EIA reported its crude inventory report today, but saw a small jump after the release, when the agency reported that crude oil inventories Continue Reading
Mid-Atlantic power prices highest in years Mostly driven by higher fuel prices US Energy Information Administration analysts discussed the relationship between fuel costs and power prices, and how recent US Continue Reading
The U.S. Consumer Price Index (CPI) saw no real change in July, suggesting that inflation is easing as a result of falling gasoline prices, according to the latest data from Continue Reading
Implied gasoline demand jumps 6.8% to 9.12 million b/d Commercial crude stocks spike by 5.5 million barrels Gasoline stocks plunge by 5 million barrels US gasoline demand rose for the Continue Reading
As energy bills mount and the threat of rationing increases, some European retailers are turning off lights and considering shorter opening hours this winter. Energy bosses and government officials have Continue Reading
Sweden overtook France as Europe’s largest net power exporter in the first half of 2022, as deep-rooted problems reduced French nuclear availability to historic lows, Energy analysts EnAppSys said on Continue Reading
Shipping costs for mid-size oil tankers from the US Gulf to Europe are near the highest levels since early in the pandemic, due to changes in trade flows amid Russia’s Continue Reading
