Post Tagged with: "Oil"

Source: Reuters

Petrobras CEO says Red Sea crisis could send oil above $90

World Oil


(Bloomberg) – Oil prices could top $90 per bbl this year if attacks escalate on ships in the Red Sea, according to the top executive at Brazilian state-controlled oil giant Petroleo Brasileiro SA.

“We have a very fragile
Source: World Oil

Saudi Aramco to continue sending oil through Red Sea amidst Houthi attacks

World Oil


(Bloomberg) – Saudi Aramco, the world’s largest oil company, is continuing to send tanker loads of crude and fuels through the southern Red Sea, where Houthi militants have for months been menacing merchant ships in response to the …

Oil heads for weekly gain on US growth and Middle East concerns

Oil heads for weekly gain on US growth and Middle East concerns

US News


LONDON -Oil eased on Friday but was heading for a second weekly gain as positive U.S. economic growth and signs of Chinese stimulus boosted demand sentiment, while Middle East supply concerns added further support.

The United States, the

Source: Oil Price

Saudi Arabia may have set the price of its oil too high

Oil Price


Asian buyers could reduce intake of term supplies from Saudi Arabia in January and look to buy more spot crude cargoes after the world’s top crude exporter reduced the price of its oil to Asia by less than …

Source: CNBC

Oil heads for weekly loss as geopolitical risk premium wanes

CNBC


Oil rose on Friday, as the U.S. jobs market slowed more than expected last month, bolstering expectations of a pause in interest rate hikes in the world’s biggest consumer, but they remained on track for a weekly loss as …

Source: Reuters

EXPLAINER-What impact will the Israel/Hamas war have on oil?

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 …

Source: Reuters

Oil headed for $150 without US support for more drilling, shale CEO says

Yahoo Finance


(Bloomberg) — Oil is headed as high as $150 a barrel unless the US government does more to encourage exploration, according to Continental Resources Inc., the shale driller controlled by billionaire Harold Hamm.

Crude output in the Permian …

Source: Reuters

Energy Transfer LP shuts ruptured oil pipeline in Permian

Oil Price


Energy Transfer LP shuttered its Centurion Pipeline on Monday after it was struck by a road worker, the pipeline company said in an email to Bloomberg. Energy Transfer LP acquired the pipeline earlier this year when it acquired …

Source: World Oil

Oil must play major role in global energy transition, Exxon, Aramco CEOs say

World Oil


(Bloomberg) – The heads of Saudi Aramco and Exxon Mobil Corp. took to the stage at a major industry event Monday to voice support for the global transition to cleaner forms of energy, but one in which oil …

Source: Reuters

Oil set to rise for a third week on strong China economic data

Nasdaq


SINGAPORE – Oil prices rose on Friday and are set for a third weekly gain, as better-than-expected Chinese economic data and reports of record oil consumption bolstered the view that demand in the world’s second-largest crude consumer will continue …

Source: CNBC

Oil on track for fifth week of gains

CNBC


Oil prices were steady on Friday, but on track for a fifth straight week of gains with investors optimistic healthy demand and supply cuts will keep prices buoyant. Risk appetite in wider financial markets has been fuelled by growing …

Source: CNBC

Oil edges higher on lower U.S. crude stocks, cautious outlook

CNBC


Oil prices crept higher on Thursday as a lower-than-expected drop in U.S. crude inventories and a weaker demand outlook kept investors cautious. September Brent futures climbed 12 cents, or 0.1%, to $79.58 a barrel by 12:30 p.m. ET, while …

Source: Reuters

COLUMN-Extreme pessimism gripped hedge funds on oil: Kemp

Nasdaq


LONDON – Portfolio investors have become exceptionally bearish about crude oil as global economic growth slows and production cuts from Saudi Arabia and its OPEC⁺ allies have failed to lift prices.

Hedge funds and other money managers sold the …

Source: Reuters

Oil heads for fourth straight quarterly decline

CNBC


Oil prices rose above $75 a barrel on Friday but were on course for a fourth consecutive quarter of losses amid concerns over sluggish global economic activity and fuel demand. Benchmark Brent crude futures for September delivery were up …

Source: Reuters

Oil little changed as demand worries face tight supply outlook

BOE Report


Oil prices rose slightly on Wednesday as traders remained cautious after a surprise rise in U.S. crude inventories stoked demand concerns on the heels of weaker-than-expected economic data from the United States and China.

U.S. West Texas Intermediate …

Source: Reuters

U.S. crude sets world’s most important oil benchmark for first time

World Oil


(Bloomberg) – U.S. oil is already having a profound impact on the world’s most important oil benchmark, effectively setting the price just after its inclusion in the measure.

 

WTI Midland — produced in the West Texas shales …

Source: Reuters

Goldman Sachs: Oil will fail to reach $100 in 2023

World Oil


(Bloomberg) – Goldman Sachs Group Inc., one of the most bullish banks on its outlook for oil, has nudged its forecasts down as worries over the banking sector and the potential for recession outweigh a surge in demand …

Source: Reuters

Oil heads for weekly loss on rate hike worries, ample supply

BOE Report


Oil fell about 2% on Friday and was heading for a weekly decline, pressured by concerns of more U.S. Federal Reserve interest rate hikes that could weigh on demand, and signs of ample supply.

 

Two Fed officials …

Source: Oil Price

Investors are increasingly bullish on oil despite demand woes

Oil Price


Hedge funds and other portfolio managers boosted their bullish bets on crude oil at the end of 2022 despite concerns about demand in the immediate term in the world’s top crude oil importer, China, and persistent fears of …

Source: Oil Price

U.S. easing of sanctions on Venezuela won’t have immediate impact on oil

Oil Price


Traders are still weighing the timing and impact of U.S. President Joe Biden’s decision on Saturday to ease oil sanctions on Venezuela and grant Chevron a license to resume oil production in the country.

 

Sanctions were implemented …

November 28, 2022 - 1:30 pm Closing Bell Story‎, Crude Oil News, Energy News, South America
Source: Oil Price

Iran claims oil, petrochem exports hit highest since 2018

Oil Price


Iran’s exports of crude oil, condensates, and petrochemical products hit their highest level in the Iranian month of November since 2018, when the U.S. reimposed sanctions on the Islamic Republic’s oil industry, Petroleum Minister Javad Owji said.…

Source: Reuters

Oil pares losses after cooler than expected U.S. inflation

US News


LONDON – Oil pared losses on Thursday, still heading for a fourth consecutive daily decline, as cooler than expected U.S inflation figures balanced demand concerns prompted by renewed COVID curbs in China.

 

Crude rallied briefly, rising by

November 10, 2022 - 10:30 am Uncategorized
Source: World Oil

GOP plans to offer oil, gas and trees as climate fixes in next Congress

World Oil


(Bloomberg) — Republicans in Congress are dusting off past plans to address climate change as they prepare for the likely prospect they will win control of at least one chamber of Congress in the midterm elections next week. …

Source: Reuters

Oil near three-week high on cuts to OPEC+ output targets

Yahoo Finance


LONDON – Oil prices held near three-week highs on Thursday after OPEC+ agreed to tighten global crude supply with a deal to cut production targets by 2 million barrel per day (bpd), the largest reduction since 2020.

 …

Source: World Oil

Russia could find new markets for half the oil the EU won’t buy`

World Oil


(Bloomberg) — Russia could find new markets for about half of the crude exports that will be banned by the European Union from December, according to energy-data firm Kpler.

 

 

Indonesia, Pakistan, Brazil, South Africa, Sri Lanka …

Oil edges down as inflation expected to impact fuel demand

Oil edges down as inflation expected to impact fuel demand

CNBC


Oil prices dipped on Tuesday, paring some gains from the previous session, as the market feared that more aggressive interest rates hikes from central banks may lead to a global economic slowdown and soften fuel demand.

Oil edges down as inflation expected to impact fuel demand- oil and gas 360

Source: Reuters

Oil outshines stocks and dollar in 2022

US News


LONDON – Oil prices are proving resilient to global economic recession fears and have outperformed major equity indices and the U.S. dollar so far this year as Western sanctions on Russia further limit supplies to an already tight

Source: Reuters

U.S. to sell additional 20 million barrels of oil from strategic reserve

Reuters


The Biden administration on Tuesday said it will sell an additional 20 million barrels of oil from the Strategic Petroleum Reserve as part of a previous plan to tap the facility to calm oil prices boosted by Russia’s invasion …

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: World Oil

Texas RRC strengthens inspection process for oil, gas facilities in new fiscal year plan

World Oil


AUSTIN – The Texas Railroad Commission on Tuesday approved the Fiscal Year 2023 Oil and Gas Monitoring and Enforcement Plan, which outlines a stronger inspection process and enforcement procedures for evaluating every oil and gas facility at least …