SINGAPORE, Nov 11 – Oil prices picked up on Friday after a milder than expected U.S. inflation data reinforced hopes that the Federal Reserve will slow down rate hikes, boosting chances of a soft landing for the world’s biggest …
Last month, France’s president Emmanuel Macron accused the United States of a “double standard” because of the difference between the price at which liquefied natural gas produced in the U.S. sells in Europe and the price at which …
(Bloomberg) – China’s passion for Alaskan oil appears to be over as the country turns to Russia.
Surging Chinese energy demand amid Covid lockdowns on the US West Coast prompted Alaskan oil exporters to ship more …
SHARM EL-SHEIKH, Egypt -The head of the International Energy Agency (IEA) said on Wednesday oil prices “flirting with $100” were a real risk for the global economy, adding he was surprised by the OPEC+ decision to cut output at …
NEW YORK – Oil prices dropped by about $2 a barrel on Wednesday after industry data showed that U.S. crude stockpiles rose more than expected and on concerns that a rebound in COVID-19 cases in top importer China …
(Bloomberg) – Many of the world’s oil refineries are rushing to try and guarantee supplies of Middle East crude for next year, fearful of what’s to become of Russia’s giant export program.
In under a month, almost …
Price caps are all the rage these days on the energy scene. The European Union is capping the price of gas and the G7 group is trying to cap the price of exported Russian oil. Both amount to …
(Bloomberg) – The United States slashed its forecast for the nation’s oil production growth next year, predicting that output will fall short of an all-time high.
America’s crude production will rise to 12.31 MMbpd in 2023, down from …
LONDON – Oil prices slipped on Tuesday as recession concerns and worsening COVID-19 outbreaks in top crude importer China heightened fears of lower fuel demand.
Brent crude was down 31 cents, or 0.3%, at $97.61 a barrel …
(WO) – Global oil demand in 2023 will grow about a million barrels per day lower than organizations such as the International Energy Agency (IEA) and OPEC have forecast, according to a new report from Enverus Intelligence Research …
Several days ago, President Biden made a media splash when he threatened oil companies with windfall taxes and “other restrictions” if they don’t stop returning cash to shareholders and start investing this cash in more oil production.
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LONDON – Oil prices were stable on Monday, close to $100 a barrel as support from a weaker dollar and recovering Chinese crude imports met renewed demand concerns linked to China’s stringent COVID containment approach.
Brent crude …
U.S. natural gas futures jumped about 9% to a one-month high on Monday on forecasts for colder weather and more heating demand in mid to late November than previously expected.
Traders also said futures gained support from …
HOUSTON – U.S. oil refiners this quarter will run their plants at breakneck rates, near or above 90% of capacity, as tight fuel supplies spur high profits and operating rates, according to company forecasts and analysts surveyed by Reuters.…
Hedging is a popular trading strategy frequently used by oil and gas producers, airlines and other heavy consumers of energy commodities to protect themselves against market fluctuations. During times of falling crude prices, oil producers normally use …
LONDON -Oil prices rose by 4% on Friday as the dollar eased, with an EU ban on Russian oil looming large and investors weighing the prospects for an easing of China’s COVID curbs.
Though fears of global recession …
U.S. liquefied natural gas (LNG) company Cheniere Energy Inc on Thursday reported a third-quarter loss on derivative contracts while delivering revenue and adjusted profit that more than doubled on surging LNG demand.
The top U.S. exporter of …
NEW YORK – Oil slid about 1% on Thursday as an increase in U.S. interest rates pushed up the dollar and heightened fears of a global recession that would crimp fuel demand.
Losses, however, were limited by …
The era of “exponential” growth in the U.S. oil and gas industry is over as most shale firms are returning cash to investors instead of going into debt to drill more, according to Halliburton, the world’s largest fracking …
In December 1975, when memories of gas lines were fresh on the minds of Americans as a result of the 1973 OPEC oil embargo, Congress established the Strategic Petroleum Reserve (SPR). The law was designed “to reduce the …
LONDON – Oil prices slipped on Thursday ahead of an expected rate hike by the Federal Reserve, but found a floor as market participants eyed falling U.S. crude stockpiles and upcoming European sanctions on Russian barrels.
Brent …
ABU DHABI -OPEC raised its forecasts for world oil demand in the medium-and longer-term in an annual outlook released on Monday and said $12.1 trillion of investment is needed to meet this demand despite the energy transition.
Europe is set to increase its reliance on oil imports from the United States after the EU embargo on Russian seaborne crude imports enters into force in early December, Claudio Descalzi, chief executive of Italy’s energy group Eni, …
LONDON – Portfolio investors’ oil positions are exhibiting significant week-to-week volatility as traders struggle to anticipate the net effect of an economic slowdown amid exceptionally low inventories of crude and diesel.
Hedge funds and other money managers purchased …
U.S. natural gas futures jumped about 10% to a two-week high on Monday on forecasts for more demand this week than previously expected with the return of Berkshire Hathaway Energy’s Cove Point liquefied natural gas (LNG) export plant …
Oil prices will find support from OPEC+ output cuts and sanctions on Russia for the rest of the year and into the early part of 2023, a Reuters poll showed on Monday, but a recession could limit further gains.…
Energy workforce council comments on President Biden’s remarks on gas prices
World Oil
With U.S. gasoline prices remaining high a week before midterm elections, President Joe Biden said he will attempt to levy additional taxes on oil corporations that record “windfall” profits without reinvesting in production, Bloomberg reported.
Biden …