(Bloomberg) –China slashed its fuel export quota by more than half in the first batch of allocations for 2022, highlighting the nation’s strategy of progressively limiting overseas sales.
A total of 13 million tons were issued, including both …
The Canadian dollar strengthened against its U.S. counterpart on Tuesday, with the currency clawing back some of its decline from the prior day as oil prices rose and domestic data showed factory activity expanding at the slowest pace in …
An influential group of some of the world’s largest oil producers agreed on Tuesday to stick to its planned increase in oil production from February as energy investors weigh the potential impact of soaring omicron Covid cases.
OPEC and …
LONDON/MOSCOW, Jan 3 – OPEC+ is expected to stick to its plans for a February output increase when it meets on Tuesday, predicting a mild and short-lived impact on demand from the Omicron coronavirus variant, three sources from the …
(Bloomberg) –Russia failed to boost oil output last month despite a generous ramp-up quota in its OPEC+ agreement, indicating the country has deployed all of its current available production capacity.
With OPEC+ meeting in two days to consider …
U.S. oil production is back and set to increase in 2022 after more than a year of OPEC and its allies “running the show,” according to Daniel Yergin, vice chairman of IHS Markit.
Output could rise by as much …
LONDON -Oil prices extended gains on Tuesday, with Brent crude trading near $80 a barrel despite the rapid spread of the Omicron coronavirus variant, supported by supply outages and expectations that U.S. inventories fell last week.
Brent crude rose …
Dec 28 – U.S. natural gas futures slipped from a more than three-week high on Tuesday on forecasts for milder weather and less heating demand over the next two weeks than previously expected.
On their second to last trading …
Oil prices were steady on Wednesday, with market players on the lookout for fuel demand pointers amid COVID-19 concerns after Singapore suspended quarantine-free travel and Australia renewed its vaccination push due to a surge in Omicron variant cases.
U.S. …
Dec 21 – U.S. natural gas futures edged up on Tuesday, shrugging off forecasts for milder weather and lower heating demand next week than previously expected, and focusing instead on a sharp rally in European gas futures that could …
MOSCOW, Dec 21 – Russian energy giant Gazprom GAZP.MM expects to pay dividend on 2021 results of more than 45 roubles ($0.6087) per share thanks to high oil and gas prices, Gazprom’s Deputy CEO Famil Sadygov said on Tuesday.…
Goldman Sachs predicts a new high in oil demand in 2022, and again in 2023.
Damien Courvalin, the investment bank’s head of energy research, also said Friday that oil at $100 per barrel was a possibility.
Oil demand was …
Dec 17 – U.S. natural gas futures fell about 3% on Friday to a one-week low on record output and forecasts for milder weather through late December than previously expected.
Mostly mild weather since mid-November has kept heating demand …
Global demand for oil products has seen strong recovery this year, however, depressed kerosene demand from the aviation sector is a major barrier to full recovery, says GlobalData, a leading data and analytics company.
GlobalData’s analysis of oil …
Dec 16 – Canada’s main stock index rose on Thursday, extending gains to a second session, aided by strength in mining, energy stocks and an upbeat economic outlook from the U.S. Federal Reserve.
At 9:44 a.m. ET (14:44 GMT), …
(Bloomberg) –Oil eked out a gain, climbing in tandem with equities, as traders weighed the Federal Reserve’s shift to tighter monetary policy to battle inflation.
Futures in New York closed up 0.2%, reversing earlier losses of as much …
LONDON (Bloomberg) –Oil forecasters have parted company on their views about demand in the coming months, as the omicron variant of the Covid-19 virus spreads rapidly around the world. And producers have emerged as the surprising bulls in …
(Bloomberg) –Stern warnings from U.S. and European officials suggest the window is closing on nuclear talks with Iran, with frustration boiling over after two weeks of negotiations marred by allegations of Iranian backsliding.
Secretary of State Antony Blinken …
(Bloomberg) –Saudi Arabia’s finance minister echoed warnings from the kingdom’s oil officials that a slowdown in fossil-fuel investment globally will cause spikes in energy prices.
“We have very serious concerns that the world could run short of energy …
BRUSSELS/LONDON – The European Union is expected to propose a system this week to allow countries to jointly buy strategic stocks of gas, a measure drawn up in response to soaring energy prices.
Benchmark wholesale European gas prices rose …
SINGAPORE (Bloomberg) –It’s been almost three weeks since the U.S. unveiled an internationally coordinated release of oil from national reserves, but so far there’s been little follow through from the other five nations.
President Joe Biden said on …
(Bloomberg) –The budget bill for Iran’s next calendar year is based on an oil price of $60 a barrel, up from $40 this year, the semi-official Fars news agency reported.
The country expects to export around 1.2 million
LONDON -Oil fell on Monday as new concerns about the Omicron coronavirus variant and doubts around the effectiveness of vaccines against it were weighing on prices.
Brent fell 78 cents, or 1%, to $74.37 a barrel by 1227 …
LONDON, Dec 13 – Hedge fund selling of oil futures and options slowed in the most recent week, after a tidal wave of selling the week before, probably indicating the liquidation cycle is near its end.
Hedge funds and …
LONDON -Oil prices were on track for their biggest weekly gain since late August, with market sentiment buoyed by easing concerns over the Omicron coronavirus variant’s impact on global economic growth and fuel demand.
The Brent and WTI benchmarks …
LONDON, Dec 9 – The gamble taken by OPEC and its allies, under pressure from top oil consumer the United States, to raise oil output in January despite its own forecasts of oversupply, appears to be paying off as …
U.S. natural gas futures rose more than 3% on Wednesday on forecasts for more heating demand this week than previously expected and as the U.S. market followed a 7% jump in European gas prices that should keep U.S. liquefied …
(Bloomberg) –Oil traders are scooping up options contracts that would pay out if U.S. crude futures plummet against international benchmark Brent, a signal that some believe the Biden administration could intervene in the market again to bring down …
Global commodity trader Trafigura Group made a record net profit for a second year running in its 2021 financial year after a strong performance across divisions and significant energy market dislocations.
The Geneva-based company posted a net profit of
