(Investing) – LONDON – Oil prices climbed to around $110 a barrel on Thursday after President Donald Trump said the U.S. would continue attacks on Iran, stoking fears of prolonged disruptions to oil supply. Brent crude futures were up $7.96, or 7.9%, to $109.12 per barrel at 1302 GMT. U.S. West Texas Intermediate crude futures were up $12.48, or 12.5%, at $112.60
(Investing) – Oil prices rose on Monday after Yemen’s Houthi group attacked Israel over the weekend, pointing to a broader scope for the war in the Middle East as the conflict enters its second month. Continued hostilities between Iran and the joint forces of the U.S. and Israel also showed few signs of de-escalation, with Tehran stating that it was prepared for
(Investing) – HOUSTON – U.S. officials this week said the historic spike in fuel prices during the war in Iran will be short-term and trumpeted record U.S. production at an industry conference where oil executives and government officials from Asia, the Middle East and Europe bemoaned the worst oil and gas supply disruption in decades. The contrasting messages relayed to industry
(Investing) – The Trump administration is beginning to outline potential steps to address rising energy prices linked to the conflict involving Iran, though analysts at Wolfe Research say the government’s policy tools may be limited. In a note led by Tobin Marcus, Wolfe Research said recent announcements from the administration suggest a focus on measures aimed at stabilizing shipping and
(Investing) – ORLANDO, Florida- The Trump administration has settled on a plan that would require big oil refineries to make up for at least half of the biofuel blending volumes obligations waived in recent years under the Small Refinery Exemption program, according to three sources familiar with the discussions. The decision could be unwelcome news for larger oil refiners that have
(Oil Price) – The Trump Administration has further eased the sanctions on Venezuela’s oil industry by allowing U.S. firms to provide services and technology for hydrocarbon exploration and production in the South American country. The U.S. Treasury’s Office of Foreign Assets Control (OFAC) noted in a new general license that U.S. entities or persons are now authorized to provide “goods, technology, software, or
(Investing) – U.S. President Donald Trump is set to launch a strategic critical minerals stockpile with $12 billion in seed money from the U.S. Export-Import Bank, a Trump administration official familiar with the plan said. The investment marks Washington’s latest attempt to offset what policymakers view as Chinese manipulation of prices for lithium, nickel, rare earths and other critical minerals –
(Oil Price) – The Trump Administration plans to offer U.S. states incentives for building nuclear reactors in exchange for agreeing to store nuclear waste, a source familiar with the matter told Reuters on Thursday. However, a spokesperson for the U.S. Energy Department told Reuters that the story was “false” and that “no decisions have been made at this time,” after POLITICO first reported on the
(BOE Report) – President Donald Trump has lavished the U.S. oil industry with favourable policies since returning to the White House, but his twin demands for cheap oil and “energy dominance” are increasingly colliding with companies’ bottom lines. Over the past year, the Republican president has rolled out numerous pro-fossil fuel measures and offered strong support for U.S. oil firms
(Oil Price) – U.S. President Donald Trump is taking action to protect American consumers from soaring electricity bills with plans to direct the biggest U.S. grid operator, PJM, hold an emergency power auction in which Big Tech would bid for power supply for their new data centers and effectively pay for new power plants. President Trump and governors of several U.S. states, including
(World Oil) – President Donald Trump signaled he’s leaning toward excluding ExxonMobil from his push for U.S. oil majors to rebuild Venezuela’s petroleum industry, saying he was displeased with the company’s response to his initiative. “I’d probably be inclined to keep Exxon out,” Trump told reporters late Sunday aboard the presidential plane on the way back to Washington from his
(Oil Price) – President Donald Trump’s crackdown on offshore wind power in the United States could spill over globally, dampening investor sentiment in the industry, wind power executives have warned. Citing the chief executive of Vestas, the turbine maker, the Financial Times reported today that the ban on offshore wind in the United States heightened uncertainty, which would reduce investors’ risk tolerance and
