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May 19, 2021

Colonial Pipeline paid hackers nearly $5 million in ransom- oil and gas 360

Colonial Pipeline paid hackers nearly $5 million in ransom

May 19, 2021

Bloomberg (Bloomberg) — Colonial Pipeline Co. paid nearly $5 million to Eastern European hackers on Friday, contradicting reports earlier this week that the company had no intention of paying an extortion fee to help restore the country’s largest fuel pipeline, according to two people familiar with the transaction. The company paid the hefty ransom in difficult-to-trace cryptocurrency within hours after

Iran's oil exports, on rising trend, drop in May as China buying ebbs- oil and gas 360

Iran’s oil exports, on rising trend, drop in May as China buying ebbs

May 19, 2021

Reuters LONDON – Iranian oil exports, which have been on a rising trend while talks make progress on reviving the 2015 nuclear deal, have dropped so far in May, according to three assessments, reflecting a lull in demand from China. Tehran’s oil exports have risen since late 2020, despite U.S. sanctions toughened under U.S. President Donald Trump. Joe Biden’s administration

Germany confirms U.S. waiver on some Nord Stream 2 sanctions- oil and gas 360

Germany confirms U.S. waiver on some Nord Stream 2 sanctions

May 19, 2021

Reuters BERLIN -The United States is waiving sanctions on the company behind Russia’s Nord Stream 2 pipeline to Europe and its chief executive, Germany said on Wednesday, giving Berlin and Washington three more months to resolve a long-standing row. The stand-off over the completion of the $11 billion venture, led by Russian state energy firm Gazprom, has strained ties at

Oil prices fall on rising COVID-19 infections in Asia, inflation fears- oil and gas 360

Oil prices fall on rising COVID-19 infections in Asia, inflation fears

May 19, 2021

BOE Report Oil prices fell for a second day on Wednesday on renewed demand concerns as coronavirus cases in Asia rise and on fears of rising inflation might lead the U.S. Federal Reserve to raise interest rates, which could limit economic growth. U.S. West Texas Intermediate (WTI) crude futures dropped $2.03, or 3.11%, to $63.23 a barrel, following a 1.2%

U.S. crude oil inventories increase by 0.5 million barrels- oil and gas 360

U.S. crude oil inventories increase by 1.3 million barrels

May 19, 2021

Weekly Crude Oil Storage as of May 14, 2021   U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.3 million barrels from the previous week. At 486.0 million barrels, U.S. crude oil inventories are about 1% below the five year average for this time of year, according to the EIA crude oil and petroleum

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