(Investing) – NEW YORK – Oil prices rose about 1% to a one-week high on Wednesday on worries about supply disruptions in Russia and the U.S., while the market awaits clarity on sanctions as the U.S. attempts to broker a deal to end the war in Ukraine. Brent futures were up 65 cents, or 0.9%, at $76.49 a barrel by 10:38 a.m.
(Oil Price) – American and European companies in the nuclear energy supply chain have become increasingly vulnerable to a possible supply shock in the uranium market amid fierce resource competition from China and Russia and the planned surge in nuclear power generation to meet electricity demand. As many countries are now looking to nuclear power to cut emissions and reliance on
(BOE Report) – Tightened U.S. sanctions on Moscow have disrupted a roaring trade in discounted Russian oil to China and India, reviving demand for Middle Eastern and African crudes, roiling shipping markets and driving up oil prices. Washington’s January 10 sanctions targeted tankers carrying Russian oil in a push to more effectively limit Moscow’s oil revenue, the aim of western
(BOE Report) – Lower oil prices, budget constraints and a rise in bad corporate debt are among the top economic risks facing Russia, documents prepared for an internal government discussion show, with a possible jump in U.S. and OPEC oil output of notable concern. President Vladimir Putin and top officials have in public regularly extolled the Russian economy’s resilience in
(Investing)– Russia may be forced to throttle back its oil output in the coming months as U.S. sanctions hamper its access to tankers to sail to Asia and Ukrainian drone attacks hobble its refineries. The United States imposed sanctions last month that targeted 180 Russian tankers while Kyiv has stepped up drone attacks to improve its bargaining position amid expectations
(Oil Price) – Diesel prices in Asia, Europe, and the U.S. jumped this week as the latest U.S. sanctions on Russia’s oil industry added to colder winter weather to boost futures prices and margins amid expectations of reduced diesel and crude supply from Russia. On January 10, the outgoing U.S. Administration imposed the most aggressive sanctions on Russia’s oil yet, designating two
(Investing) – MOSCOW – Russia’s vast Arctic oil business is facing major disruption from U.S. sanctions on its tankers and depots, stranding crude supplies previously snapped up by Asian buyers in storage, according to three sources familiar with its logistics. The sanctions unveiled on Friday are the toughest yet on Russia’s oil sector, targeting major producers Gazprom (MCX:GAZP) Neft and Surgutneftegas
(Investing) – MOSCOW – Sweeping U.S. sanctions on Russia’s oil industry will make it more expensive for Moscow to sell its oil and complicate sea-borne crude exports due to restrictions on tankers, analysts and traders said on Monday. U.S. President Joe Biden’s administration unveiled the measures targeting Russia’s oil and gas revenues on Friday, in an effort to give Kyiv and
(US News) – WASHINGTON – The Biden administration on Friday imposed its broadest package of sanctions yet targeting Russia’s oil and gas revenues in an attempt to give Kyiv and the incoming administration of Donald Trump leverage to reach a deal for peace in Ukraine. The move is meant to cut Russia’s oil revenues for the war that started in
(Oil Price) – The Biden Administration is set to slap more sanctions on Russia’s oil exports by targeting tankers hauling Russian crude and products, sources familiar with the outgoing administration’s plans have told Reuters. “It is going to be a big package,” one of Reuters’s sources said. The current Administration plans to target vessels that carry Russian oil above the $60 per
(Oil Price) – Russia’s state oil firm Rosneft has agreed to supply nearly 500,000 barrels per day (bpd) of crude to India’s Reliance Industries in the biggest oil supply deal between the two countries, Reuters reported on Thursday. The 10-year agreement is worth roughly $13 billion a year at current prices. Under the deal, Rosneft will deliver 20-21 Aframax-sized cargoes (80,000 to 100,000 metric tons)
(Investing) – Oil prices rose Monday as more intense fighting between Russia and Ukraine raised the possibility of a disruption to supplies, although gains have been limited by concerns about fuel demand in China and the potential of a global oil surplus next year. By 09:15 ET (14.15 GMT), the U.S. crude futures traded 1.4% higher at $67.86 a barrel and the Brent contract climbed
