Commodity Pricing
Oil falls as China widens COVID curbs
LONDON – Oil prices fell on Friday after top crude importer China widened its COVID-19 curbs, though benchmarks were poised for a weekly gain on supply concerns and surprisingly positive economic data.
Brent crude futures dropped 87 cents, …
Oil major earnings will reignite the windfall taxes debate
Despite weaker oil prices during the third quarter, the oil industry is still booking strong financial results. According to some, this is “awkward” because it is happening during a time of economic hardship. Besides being awkward, however, Big …
Oil rises on strong crude demand, despite China fears
LONDON – Oil rose on Thursday, extending a rally of nearly 3% in the previous session, as optimism over record U.S. crude exports and signs that recession fears are abating outweighed concern over slack demand in China.
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Gas price crisis overshadows a crisis in oil prices
There has been so much media space dedicated to the gas supply troubles of the European Union and the associated spillover effect for developing economies that another fossil fuel problem has remained relatively unnoticed: oil prices.
Oil …
Oil producer Hess tops profit estimates on stronger energy prices
Hess Corporation HES has reported third-quarter 2022 earnings per share of $1.89, beating the Zacks Consensus Estimate by a penny. The bottom line improved from the year-ago quarter’s 28 cents per share.
Total quarterly revenues increased …
U.S. accelerates three-tier plan to reduce oil prices
The immediate aftermath of the 1973/74 oil embargo in which Saudi Arabia led its OPEC brothers to block oil exports to the U.S., the U.K., Japan, Canada, and the Netherlands – causing oil prices to spike from around …
Oil prices rise on supply concerns, but stockpiles weigh
LONDON – Oil prices rose on Wednesday on supply concerns and a weaker dollar, but U.S. stockpile data capped gains.
Brent crude futures for December were up 54 cents, or 0.58%, at $94.06 a barrel by 1312 …
Saudi wealth fund teases the sale of its $85-billion Aramco stake
The Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, could soon have an announcement about a possible sale of part of its 4% stake in Saudi Aramco, which is currently worth around $85 billion, the governor of …
World is in its ‘first truly global energy crisis’ – IEA’s Birol
SINGAPORE -Tightening markets for liquefied natural gas (LNG) worldwide and major oil producers cutting supply have put the world in the middle of “the first truly global energy crisis”, the head of the International Energy Agency (IEA) said on …
Oil rises on weaker dollar and supply worry; trade choppy
NEW YORK – Oil prices rose on Tuesday, rebounding from an early fall of more than $1 a barrel on lift from a weaker dollar and supply concerns highlighted by Saudi Arabia’s energy minister.
Benchmark Brent crude …
U.S. natural gas steady on mild weather ahead of expected LNG export gain
U.S. natural gas futures were little changed on Tuesday as the market waits for demand to rise once liquefied natural gas (LNG) export plants start to exit maintenance outages in coming weeks.
That expected demand increase …
Texas natural gas prices sink close to zero
While U.S. natural gas futures gained more than 4% on Monday, natural gas in the Waha part of the Permian Basin was falling and trading close to zero, traders told Bloomberg on Monday.
Flourishing natural gas production …
Qatar energy chief says oil and gas trade should be depoliticized
Saad al-Kaabi, the head of Qatar’s state-run energy company, said on Monday all oil and gas trade should be depoliticized, calling for policies to move away from sanctions and anti-free market agreements.
The comments by Kaabi, who is also …
Biden just put a floor under oil. Will it work?
The Biden administration is ready to sell additional volumes of crude oil from the strategic petroleum reserve after the end of the 180-million-barrel release plan and then it would begin replenishing the SPR once prices fall to $67-$72 …
U.S. natural gas slides 2% to 7 month low on mild weather, record output
U.S. natural gas futures slid about 2% to a fresh seven-month low on Monday on record output and forecasts for mild weather to remain through at least early November.
In a move that could help cut U.S. consumer …
Oil prices drop as Chinese demand data disappoints
LONDON – Oil prices were steady on Monday after Chinese data showed that demand from the world’s largest crude importer remained lacklustre, but rising equities in key markets marked a brief respite from global recession fears.
Brent crude …
U.S. natural gas drops 6% to 7 month low, on track for 9th week of losses
U.S. natural gas futures dropped about 6% to a seven-month low on Friday, pressured by forecasts for mild weather, record output and low liquefied natural gas (LNG) exports that have allowed utilities to inject more gas into storage …
Oil steadies as rate hike talk offsets China demand hopes
LONDON – Oil prices rose on Friday in choppy trade as hopes of stronger Chinese demand and output cuts by OPEC and its allies offset concern about a global economic downturn and the impact of interest rate rises
Consequences or cooperation: How will the U.S. deal with OPEC?
The relationship between the U.S. and OPEC has always been a fraught one, with America pushing the cartel to slash production when oil prices crash and open the taps when prices soar. While cooperation between the two oil …
U.S. natural gas edges up but still near 7-month low after big storage build
U.S. natural gas futures inched up in choppy trade on Thursday, hovering near their lowest since March, after a mixed reaction to a federal report showing a larger-than-expected storage increase last week, with investors also assessing upcoming seasonal demand.…
Private investors are flocking into oil and gas
Over the past couple of years, Wall Street banks, E&P companies and investors have faced mounting pressure to disinvest in fossil fuels. Last year, BlackRock Inc. (NYSE: BLK), the world’s largest asset manager with $10 trillion in …
Oil rises on tight supplies, China possibly easing COVID curbs
Oil prices rose by more than $1 on Thursday in response to tighter supplies and on news that China is considering a cut in the duration of quarantine for inbound visitors.
Brent crude futures rose $1.15, or …
U.S. Official: OPEC+ cut came at “The worst possible moment”
The OPEC+ group’s decision to reduce its crude oil production target by 2 million barrels per day (bpd) came at “the worst possible moment” and will have a wide-ranging impact on the economy and inflation, Barbara Leaf, Assistant …
