The CEO of energy technology firm Baker Hughes has outlined what he feels are key points related to the energy transition amid deepening concern about rising gas prices and the knock-on effects this could have in the months ahead.…
LONDON – Global record high natural gas prices are pushing some energy-intensive companies to curtail production in a trend that is adding to disruptions to global supply chains in some sectors such as food and could result in higher …
(Bloomberg) –Oil rallied after a U.S. industry report showed another big draw in crude inventories, pointing to a tightening market, and China’s central bank added liquidity to quell concern about a major developer’s debt woes.
West Texas Intermediate …
LONDON – Oil prices rose on Tuesday as tighter U.S. supplies helped to reverse days of losses triggered by concerns across global markets about the impact on China’s economy of a crisis at heavily-indebted property group China Evergrande.
Brent …
LONDON — Britain’s energy industry could be headed for a significant shakeup, industry insiders have warned, as countries all over Europe grapple with an unprecedented crisis in the power sector.
Wholesale gas prices have spiked across the region, with
LONDON -Oil fell below $75 a barrel on Monday as rising risk aversion weighed on stock markets and boosted the U.S. dollar, although crude pared earlier losses on signs that some U.S. Gulf output will stay offline for months …
(Bloomberg) –Oil headed for a fourth weekly gain supported by signs of a tighter market and a wider rally in energy prices.
West Texas Intermediate, which dipped on Friday, has still climbed about 4% this week. Investors have …
NEW YORK – Oil prices fell on Thursday, falling from a multi-week high a day earlier on profit taking and as the threat to U.S. Gulf crude production from Hurricane Nicholas receded.
Brent crude was down 54 cents, or
(Bloomberg) –China’s first auction of oil from its strategic reserves looks relatively paltry, but the possibility of further releases is still likely to exert a powerful influence on global crude prices.
The initial sale will be for about …
SINGAPORE (Bloomberg) –Oil gained after a U.S. industry report showed another decline in inventories of crude and gasoline, signaling a tightening market.
Global benchmark Brent rose above $74, while West Texas Intermediate advanced for a fourth day. The …
(Bloomberg) –OPEC predicted stronger demand for its crude on a combination of rising global fuel consumption and output disruptions elsewhere.
The latest data from the group indicate that the world will continue to face an oil supply deficit …
Bank of America Global Research said it could bring forward its $100 per barrel oil price target to the next six months from mid-2022 if the winter is colder than usual, potentially driving a surge in demand and widening …
SINGAPORE (Bloomberg) –Oil climbed above $70 a barrel in New York after three weeks of gains as investors tracked the slow restoration of supplies in the Gulf of Mexico and the outlook for demand and inventories over the …
LONDON – Oil rose to around $73 a barrel on Friday, supported by growing signs of supply tightness in the United States as a result of Hurricane Ida and as U.S.-China trade hopes gave riskier assets a boost.
About …
CALGARY, Alberta – Oil prices fell on Tuesday on concerns about weak demand in the United States and Asia, although ongoing production outages on the U.S. Gulf Coast helped to limit losses.
Industry analysts said a strengthening U.S. dollar …
LONDON -Oil prices were steady on Friday after a U.S. jobs report indicated a patchy recovery amid the pandemic but the demand picture remained bright globally and the aftermath of a U.S. hurricane also checked losses.
Brent crude futures …
HOUSTON – U.S. oil and gas companies strained to get offshore operations back up and running on Thursday as the extent of Hurricane Ida’s damages became more apparent.
Ida’s 150-mile-per-hour (240 kph) winds delivered a direct hit to the …
LONDON -Oil prices rose more than $1 on Thursday, supported by optimism about the pace of the economic recovery from the pandemic, a sharp decline in U.S. crude stocks and a weaker dollar.
Brent crude was up $1.25, or …
HOUSTON (Bloomberg) –Port Fourchon, America’s largest base supporting the U.S. Gulf of Mexico offshore oil industry, will take weeks to recover after Hurricane Ida tore through the Louisiana community, leaving a wake of destruction in its path.
“How …
LONDON/DUBAI – OPEC and its allies will likely stick to their existing policy of gradual oil output increases, four sources said on Wednesday, even though the group revised up its 2022 demand outlook and still faces U.S. pressure to …
SINGAPORE (Bloomberg) –Oil headed for the biggest monthly loss since October as investors weighed the prospect of additional OPEC+ production and the restoration of crude output in the U.S. after Hurricane Ida.
West Texas Intermediate fell 0.8% in …
LONDON (Bloomberg) –OPEC and its allies expect global oil markets will continue to tighten this year even as they revive output, but then flip into surplus again in 2022.
The data, to be presented to the group’s …
(Bloomberg) –U.S. gasoline futures jumped after Hurricane Ida barreled ashore in Louisiana, disrupting processing facilities. Oil reversed early gains as local rigs may have escaped significant damage and the OPEC+ producers’ cartel is expected on Wednesday to endorse …
LONDON (Bloomberg) –OPEC and its allies are expected to press on with their planned revival of oil production when they meet next week, as prices bounce back from their August stumble.
The coalition led by Saudi Arabia and …
LONDON -Oil prices rose on Friday and were on track to post big gains for the week on worries about supply disruptions as energy companies began shutting production in the Gulf of Mexico ahead of a possible hurricane forecast …
Oil prices could be setting up for a major rally, one strategist says.
Though the energy sector has cooled off in recent months, U.S. West Texas Intermediate crude’s price chart just flashed a rare signal, Miller Tabak’s Matt
NEW YORK -Oil prices edged higher on Wednesday, extending gains for a third session, after U.S. government data showed that fuel demand has climbed to its highest since the start of the COVID-19 pandemic.
Brent crude rose 42 cents …
LAUNCESTON, Australia – The spot price of liquefied natural gas (LNG) in Asia is usually at a seasonal low in August in what is historically the shoulder season between summer and winter peak demand.
That the price of spot …
DUBAI – The value of Saudi Arabia’s oil exports in June increased 123% to 61.5 billion riyals ($16.4 billion) from a year earlier while non-oil exports rose by around 41%, official data showed on Tuesday.
Overall exports increased by …
