Yahoo Finance Oil prices dipped on Monday as Israel-Hamas ceasefire talks in Cairo tempered fears of a wider Middle East conflict, while U.S. inflation data dimmed the prospect of interest rate cuts soon. Brent crude futures for June, which expire on Tuesday, were down by 70 cents, or 0.8%, to $88.80 a barrel by 1245 GMT. The more active July
Oil Price Since day one of President Joe Biden’s term in office, the U.S. oil and gas industry has been criticizing his energy policies, saying that these undermine America’s energy and national security with punitive and restrictive measures against fossil fuels. Yet, during President Biden’s tenure, American oil and gas production has hit record highs. But this achievement has come despite
US News WASHINGTON – Iran’s unprecedented missile and drone strike on Israel is unlikely to prompt dramatic sanctions action on Iran’s oil exports from the Biden administration due to worries about boosting oil prices and angering top buyer China, said analysts. Shortly after Tehran launched its weekend attack – retaliation for Israel’s suspected April 1 strike on the Iranian consulate
World Oil (Bloomberg) – Republican House leadership is considering including a provision in a potential aid package for Ukraine that would require the Biden administration to approve some liquefied natural gas (LNG) export projects, according to people familiar with the matter. The wording, which has yet to be finalized, could set a threshold that effectively requires some LNG export projects
World Oil (Bloomberg) – U.S. oil prices are more than high enough to make drilling new wells profitable, but some shale bosses say they’re hesitant because of political and regulatory “uncertainty” that won’t be settled until the November election, according to the Federal Reserve Bank of Dallas. “Until the next administration is decided, we’re in a state of flux when
Yahoo Finance HOUSTON – The United States should not flip-flop on its gas export policy, Hess CEO John Hess said on Tuesday. U.S. President Joe Biden’s administration has hit pause on permits for new liquefied natural gas (LNG) export plants to ensure projects do not undermine U.S. targets to cut greenhouse gas emissions. “Consumers have to rely on the United
World Oil (Bloomberg) – Board members of Colombia’s state oil company are objecting to President Gustavo Petro’s attempt to overhaul it with new directors as he works to wean the country off oil and gas. Ecopetrol SA’s governance committee issued a report Tuesday that said none of the five candidates proposed by Petro — elected in 2022 as Colombia’s first
Oil Price The United States established its Strategic Petroleum Reserve (SPR) in the wake of the 1973–1974 oil embargo that disrupted oil imports and drove oil prices much higher. The SPR consists primarily of several large underground salt caverns for storage located along the Gulf Coast in Texas and Louisiana. These sites were chosen based on their geologic stability and
Yahoo News PUNTO FIJO/CARACAS/HOUSTON – Iran and Venezuela are trying to patch together an oil alliance that began to fray last year, according to six people familiar with the matter, after the South American country fell behind on oil swaps that had boosted crude exports and helped stem domestic fuel shortages. The expected April return of U.S. sanctions on Venezuela’s
World Oil (WO) – The Environmental Protection Agency (EPA) published the Methane Rule in the Federal Register on Friday, March 8. Texas is challenging this rule, which is detrimental to the oil and gas industry, which is not only vital to the state’s economy, but has also made great strides in emissions reduction. RRC Commissioners voted in late January to
World Oil (WO) – In response to President Joe Biden’s comments on climate and oil and gas in his State of the Union address on Thursday night, Jeff Eshelman, President & CEO of the Independent Petroleum Association of America (IPAA) issued the following statement: “We are disappointed President Biden didn’t recognize the importance of America’s oil and gas global leadership.
World Oil (Bloomberg) – The Biden administration’s pause on new licenses to export liquefied natural gas (LNG) will hurt consumers, the environment and U.S. allies, according to the head of one of the country’s top gas producers. “It works counter to a number of things that the administration says they would like to accomplish,” Chesapeake Energy Corp. Chief Executive Officer
