CNBC U.S. crude rose Thursday to trade above $82 per barrel, with the benchmark heading for its second weekly gain in a row, as oil and gasoline inventories fell. West Texas Intermediate has gained 4.8% this week, while global benchmark Brent is up 3.8%. Prices found support Thursday as U.S. crude and gasoline stockpiles fell for the first time in
CNBC U.S. crude oil broke above $87 a barrel on Friday as futures rallied on reports that Israel is preparing for a direct attack by Iran this weekend, in what would be the biggest escalation of Middle East tensions since the start of the Israel-Hamas war last October. The West Texas Intermediate contract for May delivery gained $2.32, or 2.73%, to $87.34
World Oil (Bloomberg) – Israel’s natural gas flows to Egypt have increased as much as 60% this month, according to a person familiar with Egyptian imports, as safety concerns from the war with Hamas eases and a major natural gas field resumes production. Shipments have risen to 350-400 MMcfd from about 250 MMcfd earlier in November, the person said, asking
Nasdaq LONDON – A war between Islamist group Hamas and Israel poses one of the most significant geopolitical risks to oil markets since Russia’s invasion of Ukraine last year. While oil flows have not yet been affected, analysts and market observers point to two major implications if the conflict escalates. First, the U.S. could tighten or step up enforcement of
Yahoo News JERUSALEM – A new nuclear deal between world powers and Iran would allow other nations to avoid sanctions and give Teheran $100 billion a year to destabilise the Middle East, Israeli Prime Minister Yair Lapid said on Wednesday. The United States aims to respond soon to a draft accord proposed by the European Union that would restore the
US News BEIRUT/JERUSALEM -Lebanon said on Monday it would invite a U.S. mediator to Beirut for negotiations over a disputed maritime boundary with Israel to prevent any escalation, after accusing Israel of encroaching on contested waters. Israel said the dispute was a civilian issue to be resolved diplomatically with U.S. mediation, dismissing the Lebanese accusation as “very far from reality”.
Reuters JERUSALEM – Talks on a gas pipeline that would cross political faultlines and deliver reliable energy to the impoverished Gaza Strip have moved from the abstract to the concrete in recent weeks, three officials with knowledge of the process told Reuters. For years the project was a distant prospect because of the Israeli-Palestinian conflict – peace talks between the
Reuters JERUSALEM – Seven energy ministers will sign the charter of a new Middle East energy forum that will promote natural gas exports from the eastern Mediterranean to Europe and other markets, Israeli energy officials said on Monday. “The East Mediterranean Gas Forum, which until now has been a stage for discussions only, is in fact becoming a real international
Reuters JERUSALEM – Chevron’s entry into Israel’s Leviathan natural gas field will help deliver the technical and marketing nous to turn the project into a global supplier, said the CEO of Delek Drilling, the energy giant’s new regional partner. Chevron became the first energy major to enter the Israeli market when it agreed last month to buy Texas-based Noble Energy
Houston Chronicle Cyprus President Nicos Anastasiades, Greek Prime Minister Kyriakos Mitsotakis and Israeli Prime Minister Benjamin Netanyahu attended in Athens Thursday the signing ceremony for the accord to construct the Eastern Mediterranean natural gas pipeline. The 1,900-kilometer (1,181 miles) link will connect recently discovered, and to-be-found, gas fields in the eastern Mediterranean basin with European markets through Cyprus, Greece and
Reuters JERUSALEM – Israel’s $3.6 billion offshore Leviathan field started production on Tuesday, paving the way for multi-billion dollar gas export deals with Egypt and Jordan in the coming weeks. Natural gas began flowing from Israel’s largest field despite regulatory delays and court petitions by groups opposing the project raised doubts that its operators would meet their end-of-2019 timeline. However,
Houston Chronicle Noble Energy is on the verge of starting up the massive Leviathan natural gas project offshore of Israel any day now after a final legal hurdle was cleared Thursday. The $4 billion Leviathan project led by Houston-based Noble is expected to turn Israel into a legitimate energy player in the Middle East for the first time. On Thursday,
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