Oil Price The European Central Bank will not give short-term financing to European energy firms struggling through the energy crisis, sky-high prices, and margin calls on the derivatives markets, ECB President Christine Lagarde said on Friday. “As far as the ECB is concerned, and the national central banks of the Eurosystem, of course we stand ready to provide
World Oil (Bloomberg) — Oil rebounded from an eight-month low as the market shrugged off a U.S. report showing swelling crude stockpiles and slumping demand. West Texas Intermediate advanced 2% in a move traders characterized as a technical correction following crude’s descent into oversold territory. The jump came even as US oil inventories rose 8.85 million barrels last week
Oil and Gas 360 This week’s Baker Hughes Rig Count shows that U.S. had a decrease of 1 over last week, resulting in a total count of 759 rigs. Canada had a decrease of 3e over last week, resulting in a total Canadian count of 205 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Mississippian region
Oil Price Limited global LNG supplies could be “really, really tight this winter, Cheniere Energy’s executive vice president for worldwide trading told Reuters on Thursday. Cheniere, the largest LNG exporter in the United States, believes that current prices indicate that LNG will continue to make its way to Europe, which has purchased 70% of Cheniere’s total production so far
Reuters LONDON – Russia warned the West on Friday that plans to try to cap the price of Russia’s oil and gas exports in retaliation for the war in Ukraine would fail and ultimately lead to the instability of the United States and Europe. The confrontation over Ukraine has prompted European Union customers to reduce their purchases of Russian
Yahoo News BRUSSELS – EU energy ministers on Friday tasked the European Commission to press ahead with a cap on the revenues of non-gas power producers benefiting from soaring energy prices, while backing away from capping Russian gas prices. Seeking ways to help with rising consumer bills, the ministers asked the European Commission to prepare other emergency measures including
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Nasdaq Shale oil producer EOG Resources EOG.N on Thursday said U.S. production gains next year will slow amid persistent supply chain constraints and inflationary pressures, echoing a rival’s sentiment. Source: Reuters EOG forecasts overall U.S. oil output to increase by between 700,000 and 800,000 barrels per day this year. But in remarks at the Barclays CEO Energy and Power conference on Thursday, EOG’s
Oil Price In Europe, fears of a potentially deep recession continue to take hold. Meanwhile, these fears seem to have subsided in North America—at least in the oil industry. Instead, it’s back to growth mode for the shale patch and the oil sands. This is according to Schlumberger, whose chief executive said this week that activity in the North American oil industry
Investing LONDON -Oil prices rose on Thursday after Russia threatened to halt oil and gas exports to some buyers, although weighing on the market were concerns that China’s extension of COVID-19 lockdown measures would slow global economic activity and hit fuel demand. Brent crude futures were up 94 cents, or 1.1%, to $89.94 per barrel at 1410 GMT, after falling
World Oil (Bloomberg) — New British Prime Minister Liz Truss removed a ban on drilling for shale gas, an effort to boost domestic energy supply that will have to overcome the same obstacles that stymied the industry for the past decade. The lifting of the moratorium on so-called fracing was part of a package of measures announced on Thursday to tackle soaring
