Oil Price War premium returned to the oil market on Monday after the weekend attack by Hamas on Israel, which upended—again—the geopolitical landscape in the world’s most important oil-exporting region, the Middle East, and buried hopes of an imminent Saudi-Israel rapprochement that could ease the tight oil market. The Hamas attack on Saturday took place just as several Middle Eastern
Oil and Gas 360 DENVER–(BUSINESS WIRE)– Civitas Resources’ (NYSE: CIVI) (“Civitas” or the “Company”) CEO Chris Doyle today issued the following statement in conjunction with the Company’s recently announced debt offering: “Today’s debt offering is expected to successfully finance our accretive Vencer acquisition. There is inherent flexibility in our capital structure, and we see tremendous value in our equity at today’s
World Oil (Bloomberg) — Israel’s gas shipments to Egypt fell by 20% as safety concerns prompted the shutdown of a key offshore field, threatening onward deliveries to Europe. Halting the Tamar field in the Mediterranean Sea reduced Egypt’s imports of Israeli gas to about 650 million cubic feet per day, according to officials who asked not to be identified as they’re
Oil Price Representatives from the oil industry and from OPEC will attend the COP28 climate summit in Dubai next month, OPEC Secretary General Haitham Al Ghais said on Tuesday. “The oil industry will be at COP and we will be there,” Al Ghais said at an energy event in Fujairah, in the United Arab Emirates (UAE), as carried by Reuters. OPEC’s secretary
Nasdaq U.S. natural gas futures edged up about 1% on Tuesday to a fresh eight-month high on rising exports and higher global gas prices. That price increase came despite forecasts for milder weather and less heating demand over the next two weeks than previously expected. Front-month gas futures NGc1 for November delivery on the New York Mercantile Exchange rose 2.7 cents, or 0.8%,
Nasdaq LONDON – Saudi Arabia and Russia’s crude supply cuts in tandem with U.S. interest rate rises have disrupted oil’s tendency to move in the opposite direction to the U.S. dollar, although analysts say the darkening economic outlook will eventually restore the equation. A strong dollar typically weighs on oil prices as it makes the commodity more expensive for holders
