Commodity Pricing

Source: Reuters

Drilling vs returns. U.S. oil producers’ tradeoff as windfall tax threatens

Yahoo Finance


U.S. oil producers profiting from sky-high prices are doling out billions to shareholders and building cash reserves, a strategy irking lawmakers and voters struggling with record fuel prices while winning over Wall Street.

Soaring fuel prices have boosted …

Source: Reuters

Oil jumps to 13-week high on rising U.S. gasoline demand

Yahoo Finance


NEW YORK – Oil prices jumped over 2% to a 13-week high on Wednesday as U.S. demand for gasoline keeps rising despite record pump prices, while expectations that China’s oil demand will increase faced growing supply concerns in …

Source: Reuters

Oil prices face big volatility as spare capacity dries up

Nasdaq


LONDON – After more than a year of pressure from the United States and other top oil consuming countries, OPEC+ finally agreed to accelerate oil supply increases last week to tame runaway fuel prices and slow inflation.

But that …

Source: Reuters

Oil prices face big volatility as spare capacity dries up

Nasdaq


LONDON – After more than a year of pressure from the United States and other top oil consuming countries, OPEC+ finally agreed to accelerate oil supply increases last week to tame runaway fuel prices and slow inflation.

But that …

Source: Reuters

Oil settles up 1% on tight supply, U.S. crude at 13-week high

US News


NEW YORK – Oil prices gained about 1% on Tuesday, with U.S. crude settling at a 13-week high on supply concerns, including no nuclear deal with Iran, and prospects for demand growth in China, which is relaxing lockdowns

Source: Bloomberg

Canada’s oil sands prices trail futures as refining costs rise

World Oil


(Bloomberg) — Canadian heavy crude prices have collapsed relative to futures prices because of high refining costs rather than the pipeline bottle necks that have plagued the industry in the past, according to a Toronto-based analyst.

Western Canadian …

Source: CNBC

Oil tops $120 a barrel on Saudi pricing despite OPEC+ deal

CNBC


Oil prices topped $120 a barrel in choppy trade on Monday buoyed by Saudi Arabia raising its July crude prices but amid doubts that a higher output target for OPEC+ oil producers would ease tight supply.

Brent crude touched …

Source: Reuters

Oil edges higher as supply still seen tight after OPEC+ hike

Reuters


TOKYO: Oil prices edged higher on Tuesday, trading near seven-year highs hit last week, as investors bet supplies will stay tight, with a limited production hike by major oil producers and a strong post-pandemic recovery in fuel demand.

Brent …

Source: Reuters

OPEC+ brings forward oil output rises as Biden’s Saudi visit looms

Yahoo


DUBAI/LONDON/RIYADH -Saudi Arabia and other OPEC+ states agreed to bring forward oil production rises to offset Russian output losses to ease surging oil prices and inflation and smooth the way for an ice-breaking visit to Riyadh by U.S. President …

Source: Reuters

Restricting U.S. fuel exports would be ‘unwise’, says Chevron CEO

Reuters


HOUSTON – Chevron Corp Chief Executive Michael Wirth said on Wednesday he expected oil and motor fuel prices to stay high but cautioned against limiting fuel exports to guarantee U.S. supplies.

The CEO of the second-largest U.S. oil producer …

Source: Reuters

Analysis: Sizzling U.S. energy stock rally confronts global growth worries

Nasdaq


NEW YORK – A scorching rally in U.S. energy shares has left investors facing a tough decision: hold on despite growing worries that global growth will slow or lock in profits in one of the few areas of the …

Source: Reuters

These charts show how Russia’s invasion of Ukraine has changed global oil flows

CNBC


European Union leaders reached an agreement this week to ban the majority of Russian crude oil and petroleum product imports, but nations were already shunning the country’s oil, altering global flows for the commodity that powers the world.

Russian

Source: Reuters

Oil firms on EU’s Russian oil ban and end of Shanghai lockdown

Yahoo Finance


LONDON- Oil prices firmed on Wednesday after European Union leaders agreed to a partial and phased ban on Russian oil and as China ended its COVID-19 lockdown in Shanghai.

Brent crude was up $2.40, or 2.1%, at $118 …

Source: Reuters

OPEC+ seen sticking with supply plan even as EU sanctions Russia

World Oil


(Bloomberg) — The OPEC+ coalition will likely hold firm to its oil production plans this week even as the European Union moves to sanction group member Russia, delegates said.

Global oil supply and demand levels remain stable, with …

Source: Reuters

G7 calls on OPEC to play key role to ease global energy supplies

Reuters


Ministers from the Group of Seven countries on Friday called on OPEC to act responsibly to ease a global energy crunch brought on by the Russian invasion of Ukraine, even as they announced a breakthrough commitment to phase out …

Source: Reuters

Brent could push past $150 per barrel if Russian oil exports shrink, Bank of America says

BOE Report


Global oil benchmark Brent crude could rise past $150 a barrel if there is a sharp contraction in Russian oil exports, Bank of America (BofA) Global Research said on Friday.

Oil prices surged after Russian’s Ukraine invasion, which …

Source: Reuters

Oil on track for weekly rise on global supply concerns

Investing


LONDON – Oil prices edged higher on Friday and were on track for weekly gains, supported by the prospect of a tight market due to rising gasoline consumption in the United States in summer, and also the possibility of …

Source: Reuters

OPEC+ set to stick to modest output hike for July, sources say

Reuters


ONDON/DUBAI: OPEC+ is set to stick to an oil production deal agreed last year at its meeting on June 2 and raise July output targets by 432,000 barrels per day, six OPEC+ sources told Reuters, rebuffing Western calls for …

Source: World Oil

Permian oil producers about to slow despite $100 crude

World Oil


(Bloomberg) — In a world crying out for more oil, a dusty stretch of West Texas and southeastern New Mexico is one of the only places that can deliver. But even with crude above $100 a barrel, producers …

Source: Reuters

Oil edges higher on tight supply, surge in U.S. refining activity

Reuters


NEW YORK: Oil prices rose on Wednesday, buoyed by tight supplies and as U.S. refiners drove processing activity to their highest level since before the coronavirus pandemic started.

Brent crude futures for July rose by 48 cents to $114.03 …

Source: CNBC

OPEC is on the wrong side of history in sticking with Russia, Ukraine’s Naftogaz CEO says

CNBC


The chief executive of Ukrainian state energy giant Naftogaz says oil producer group OPEC is on the wrong side of history in choosing to stick with Russia to stabilize energy markets.

Speaking to CNBC’s Hadley Gamble at the World …

Source: Reuters

Oil prices little changed as recession worry offsets higher demand outlook

Reuters


HOUSTON –  were little changed on Monday, as worries over a possible recession offset an outlook for higher fuel demand with the upcoming U.S. driving season and Shanghai’s plans to reopen after a two-month coronavirus lockdown.

Source: Reuters

Analysis: U.S. coal companies struggle to cash in on Europe crunch

Yahoo Finance


WASHINGTON – U.S. coal producers are seeking to boost exports to cash in on soaring prices since Russia’s invasion of Ukraine but face big headwinds including shipping bottlenecks, labor shortages, and a dismal long-term outlook discouraging investments in …

Source: Reuters

Oil rises on EU’s Russian oil ban effort, demand hopes

Reuters


LONDON: Oil hit its highest in seven weeks on Tuesday, supported by the European Union’s ongoing push for a ban on Russian oil imports that would tighten supply and as investors focused on higher demand from an easing of …

Source: World Oil

Saudi Aramco’s profit soars as oil prices and output jump

World Oil


Aramco, which last week surpassed Apple Inc. to become the world’s most valuable company, followed Big Oil rivals such as Shell Plc and BP Plc in reporting bumper earnings for the first quarter. Like them, the Saudi …

Source: Reuters

Oil prices mixed amid China lockdowns, Russian sanctions

Yahoo Finance


LONDON -Oil prices were mixed on Monday as investor fears of a global recession spurred by lockdowns in China and weak economic data vied with signs the European Union was stepping closer to an import ban on Russian …

Source: World Oil

Iran says it can double oil exports if market needs more barrels

World Oil


(Bloomberg) — Iran has capacity to double oil exports if there’s sufficient demand, a top official said, even as a deal on the country’s nuclear program that could pave the way for the lifting of sanctions remain elusive.…

Source: Reuters

Oil rises but set for weekly drop as fears of weaker demand limit gains

Investing


LONDON – Oil prices rose on Friday but were headed for their first weekly loss in three weeks as worries about inflation and China’s COVID lockdowns slowing global growth offset concerns about dwindling supplies from Russia.

Brent crude futures …

Source: World Oil

Russia oil revenue up 50% this year despite boycott, IEA says

World Oil


Bloomberg) — Russia’s oil revenues are up 50% this year even as trade restrictions following the invasion of Ukraine spurred many refiners to shun its supplies, the International Energy Agency said.

Moscow earned roughly $20 billion each month …

Source: Reuters

Factbox: Who is buying Russian crude oil and who has stopped

Yahoo 


Here is the response by countries regarding purchases of Russian oil following Moscow’s invasion of Ukraine on Feb. 24, and how companies have acted.

 

COUNTRIES’ RESPONSES

Australia, Britain, Canada and the United States have imposed outright bans on …