Post Tagged with: "President Trump"

Source: Reuters

Drowning in crude, U.S. drillers say Trump strategic reserve plan is no lifeline

Reuters


NEW YORK – President Donald Trump’s plan to fill the U.S. emergency crude oil stockpile has become the centerpiece of his administration’s strategy to shield drillers from a meltdown in energy demand – but company officials and industry groups …

Source: Reuters

Oil falls back as Russia rejects Trump’s intervention in price war

Reuters


LONDON – Oil prices fell on Friday after rising 10% in the session as the coronavirus epidemic knocked the outlook for demand and Moscow rejected an intervention by U.S. President Donald Trump in Russia’s price war with Saudi Arabia.…

Source: Houston Chronicle

Oil rollercoaster has crude rebounding after 18-year low

Houston Chronicle


Oil rebounded after plunging to the lowest level in 18 years as policy makers across the globe try to strengthen economies against the impact of the coronavirus pandemic.

Futures rose as much as 18% in New York, the …

Source: Reuters

Saudi Arabia, Russia raise stakes in oil standoff

Reuters


DUBAI/MOSCOW – Saudi Arabia will raise its crude supply to a record high in April, the kingdom announced on Tuesday, as it ratcheted up a standoff with Moscow over market share and appeared to reject Russian overtures for new …

Source: Houston Chronicle

Democrats accuse Energy Department of underspending on clean energy research

Houston Chronicle


WASHINGTON — The Department of Energy isn’t distributing funding for clean energy research fast enough, House Democrats said Wednesday.

At a hearing before the oversight panel of the House Science and Space Committee, Chairman Rep. Bill Foster, D-Ill., …

Source: Reuters/Rodrigo Garrido

U.S. lifts Iran sanctions on one unit of Chinese shipping giant COSCO

Reuters


WASHINGTON – The United States on Friday lifted sanctions on one of two units of the Chinese tanker company COSCO, the U.S. Treasury said, partially reversing its punishment on the company for transporting Iranian oil after China complained about …

Source: Reuters

Oil hovers near three-month highs on trade progress, lower inventories

Reuters


LONDON – Oil prices hovered near three-month peaks on Thursday, buoyed by falling U.S. crude inventories and thawing trade relations between the United States and China.

Brent crude futures were up 19 cents at $66.36 a barrel at 1447 …

Source: Houston Chronicle

Oil rallies on renewed trade deal prospects before OPEC+ meeting

Houston Chronicle


Oil gained as the U.S. and China were moving closer to a trade deal and before OPEC+ decides on its output-cut policy later this week.

Futures added as much as 1.8% in New York. The U.S. and China …

Source: Houston Chronicle

U.S. to negotiate carbon trades under climate pact shunned by Trump

Houston Chronicle


President Donald Trump may be withdrawing from the Paris climate agreement, but the U.S. is still going to be a force at the negotiating table as international leaders gather in Madrid next week to map out rules for …

December 2, 2019 - 3:00 pm Closing Bell Story‎, Energy News, International
Source: Reuters

Exclusive: Trump administration to miss 2019 target for Alaska refuge oil lease sale – official

Reuters


WASHINGTON – The Trump administration will miss its target of holding the first-ever oil drilling lease sale in Alaska’s Arctic National Wildlife Refuge this year due to delays in the environmental review process, Interior Secretary David Bernhardt told Reuters.…

November 21, 2019 - 10:00 am Closing Bell Story‎, Energy News, Oil and Gas 360 Articles
Oil Futures Extend Gains on Larger-Than-Expected U.S. Crude Draw

Oil Futures Extend Gains on Larger-Than-Expected U.S. Crude Draw

From Reuters


Oil prices rose in volatile trade on Tuesday supported by expectations of a drawdown in U.S. crude inventories, though gains were capped by worries about a recession and uncertainty over a China-U.S. trade deal.

Brent crude LCOc1 settled …

Colorado Joins California in Requiring Automakers to Sell More Electric Cars

Colorado Joins California in Requiring Automakers to Sell More Electric Cars

From CNBC


Colorado has become the 11th state to adopt California’s zero-emission-vehicle mandate forcing automakers to sell more electric cars in the state.

The new rule was passed by Colorado’s air-quality commission by a vote of 8 to 1 on …

Caught in Tariff War, Sinopec Seeks Waiver for Imported U.S. Oil: Sources

Caught in Tariff War, Sinopec Seeks Waiver for Imported U.S. Oil: Sources

From Reuters


China Petroleum & Chemical Corp, or Sinopec, is seeking a tariff exemption for U.S. oil being imported in coming months, sources familiar with the matter said, after Beijing late last week imposed retaliatory tariffs on U.S. goods, including …

Oil Falls 1% as U.S.-Iran Optimism Faces U.S.-China Trade Deal Hopes

Oil Falls 1% as U.S.-Iran Optimism Faces U.S.-China Trade Deal Hopes

From Reuters


Oil prices fell 1% on Monday on the outlook for increased supply of Iranian crude after France’s president lifted hopes for a deal between Washington and Tehran, but losses were limited by optimism surrounding a U.S.-China trade deal.…

Source: Citgo

Citgo’s New CEO Confident in an Uncertain Time

From The Houston Chronicle


Houston’s Citgo Petroleum is under attack on multiple fronts. Creditors for its parent company want to seize its refineries. It’s at the center of a fight for control over Venezuela. The Justice Department is investigating it …

Source: Keystone-XL

Court Affirms Alternative Keystone XL Oil Pipeline Route Through Nebraska

From Reuters


A court in Nebraska on Friday affirmed an alternative route through the Midwest state for TC Energy Corp’s Keystone XL oil pipeline in the latest chapter in the nearly 10-year legal fight over the Canada to Texas pipeline.…

Oil Spills Into U.S.-China Trade War, Prices Slump

Oil Spills Into U.S.-China Trade War, Prices Slump

From Reuters


China on Friday said it would impose tariffs on U.S. crude oil imports for the first time, sending prices down nearly 4% to two-week lows as the escalating bilateral trade war fed worries over a slowdown in global …

Trump Calls on U.S. Firms to Exit China as Trade War Escalates

Trump Calls on U.S. Firms to Exit China as Trade War Escalates

From Reuters


President Donald Trump on Friday pressured U.S. companies to leave China after Beijing unveiled retaliatory tariffs on $75 billion in U.S. goods, stoking fears their escalating trade war will tip the global economy into recession.

Trump, who has …

World Powers Increasingly See Icy Arctic as a Hot Property

World Powers Increasingly See Icy Arctic as a Hot Property

From AP News


From a helicopter, Greenland’s brilliant white ice and dark mountains make the desolation seem to go on forever. And the few people who live here — its whole population wouldn’t fill a football stadium — are poor, …

Oil Eases as Fed’s Jackson Hole Meeting Gets Underway

Oil Eases as Fed’s Jackson Hole Meeting Gets Underway

From Reuters


Oil prices weakened on Thursday on worries about the global economy and as equity markets were on edge over the uncertain outlook for U.S. interest rate cuts.

Traders are awaiting a speech from Federal Reserve Chair Jerome Powell …

Source: Citgo

U.S. Court Confirms Citgo Board Appointed by Venezuela’s Opposition

From The Houston Chronicle


In a victory for Venezuela’s opposition government, a U.S. judge confirmed Citgo Petroleum’s board of directors appointed by Juan Guaido, squashing socialist leader Nicolas Maduro’s efforts to regain control over the Houston oil refiner.

On Wednesday …

U.S. Oil Sector Sets Another Record in Another Sign of Energy Independence

U.S. Oil Sector Sets Another Record in Another Sign of Energy Independence

From The Houston Chronicle


The U.S. energy sector broke another record last year as the shale boom sent natural gas and petroleum production soaring.

U.S. petroleum and natural gas production jumped by 16 percent and by 12 percent respectively in …

Courtesy of Chesapeake

Oil Steadies as Hopes of Easing Trade Tensions Lend Support

From Reuters


Oil prices steadied on Tuesday on optimism U.S.-China trade tensions will ease and hopes major economies will take stimulus measures to ward off a possible economic slowdown, after falling earlier on concerns over future demand.

Brent crude LCOc1 …

U.S. Oil Firms Challenge Pipeline Surcharge for Steel Tariff: Filing

U.S. Oil Firms Challenge Pipeline Surcharge for Steel Tariff: Filing

From Reuters


Two U.S. shale producers have challenged an energy pipeline operator’s proposed surcharge for the Trump administration’s 25% tariff on imported steel, raising the stakes for pipeline builders facing higher construction costs.

The United States imposed tariffs on imported …

Iranian Tanker Sought by US Heading Toward Greece

Iranian Tanker Sought by US Heading Toward Greece

From The Houston Chronicle


An Iranian supertanker with $130 million worth of light crude oil that the U.S. suspects is tied to a sanctioned organization left Gibraltar and was heading east into the Mediterranean Sea on Monday, with its next …

Trade War Impasse Casts a ‘Dark Cloud’ Over Outlook for US Oil Shipments, Analysts Warn

Trade War Impasse Casts a ‘Dark Cloud’ Over Outlook for US Oil Shipments, Analysts Warn

From CNBC


An escalating trade war between the world’s two largest economies is negatively impacting the outlook for U.S. crude shipments, energy analysts have warned, amid fears that China could soon dramatically reduce its intake of American oil.

Trade tensions …

Oil Rises 2% After Attack on Saudi Field, Stimulus Expectations

Oil Rises 2% After Attack on Saudi Field, Stimulus Expectations

From Reuters


Oil prices gained roughly 2% on Monday after a weekend attack on a Saudi oil facility by Yemen’s Houthi forces threatened crude supplies and as traders looked for signs that top economies would take measures to counteract a …

Oil Deepens Slide on Recession Fears, China’s Trade Threats

Oil Deepens Slide on Recession Fears, China’s Trade Threats

From Reuters


Oil prices fell more than 1% on Thursday, extending the previous session’s 3% drop, pressured by mounting recession concerns and a surprise boost in U.S. crude inventories.

In a sign of investor concern that the world’s biggest economy …

Oil Drops 3% on Weak Global Economic Data, U.S. Crude Stocks Build

Oil Drops 3% on Weak Global Economic Data, U.S. Crude Stocks Build

From Reuters


Oil prices shed 3% on Wednesday after fresh Chinese and European economic data revived global demand fears and U.S. crude inventories rose unexpectedly for the second week in a row.

Brent crude LCOc1 settled at $59.48 a barrel, …

Panama Canal Will Not Block Venezuela Vessels Despite U.S. Sanctions

Panama Canal Will Not Block Venezuela Vessels Despite U.S. Sanctions

From Reuters


The Panama Canal will continue authorizing vessels coming from Venezuela provided they present the necessary paperwork, the waterway’s chief said on Wednesday, suggesting a new round of U.S. sanctions on the South American nation should not make a …