(Oil Price) – The tariff offensive that President Trump is leading against trade partners across the world will deal a blow to the oil and gas industry next year, according to a report by Deloitte. The consultancy, as quoted by Reuters, noted that the oil and gas industry relies on international supply chains that stand to be affected by tariffs, leading to cost
(Investing) – LONDON -Oil prices fell by around 2% on Thursday, as investors weighed the potential impact of U.S. President Donald Trump’s tariffs on global economic growth. Brent crude futures were down $1.42, or 2.02%, at $68.77 a barrel by 1327 GMT. U.S. West Texas Intermediate crude fell $1.61, or 2.35%, to $66.77 a barrel. On Wednesday, Trump threatened Brazil, Latin America’s
(Investing) – HOUSTON – Oil held steady on Thursday after strong earnings from Meta (NASDAQ:META) and Microsoft (NASDAQ:MSFT) supported U.S. equities and postponement of U.S.-Iran talks offset concerns about the U.S. economy and the prospect of higher OPEC+ oil output. U.S. West Texas Intermediate crude futures eased 15 cents or 0.3% to $58.04 a barrel by 12:30 p.m. ET (1630 GMT). Brent
(BOE Report) – GAIL India Ltd issued a tender on Friday to buy an up to 26% stake in a liquefied natural gas project in the United States combined with a 15-year gas import deal, aiding New Delhi’s efforts to narrow its trade surplus with Washington. India is racing to become one of the first to agree a trade deal
(Investing) – HOUSTON -Oil prices fell on Thursday as the decision by the OPEC+ group to speed up its unwinding of oil output cuts in May compounded already heavy losses following U.S. President Donald Trump’s announcement of sweeping new tariffs. Brent futures were down $5.33, or 7.11%, at $69.62 a barrel by 1504 GMT. U.S. West Texas Intermediate crude futures were down
(Investing) – Oil edged up on Monday, with investors cautious after U.S. President Donald Trump threatened to impose secondary tariffs on buyers of Russian oil and warned Iran of possible military action if it did not agree to a deal over its nuclear program. The more active June Brent crude futures was up 43 cents, or 0.59%, at $73.19 a barrel by 1322
(World Oil) – Executives at U.S. shale companies expect President Donald Trump’s 25% steel import tariffs to lead to lower activity in the shale patch, according to the latest energy survey from the Federal Reserve Bank of Dallas. The average price for West Texas Intermediate that companies need to profitably drill rose to $65 a barrel, up from $64 from
(Investing) – Oil prices rose Monday on optimism new tariff announcements from U.S. President Donald Trump will not be as severe as first feared. At 08:55 ET (12:55 GMT), Brent Oil Futures expiring in May rose 0.4% to $71.86 per barrel, while West Texas Intermediate (WTI) crude futures gained 0.4% to $68.55 per barrel. Both benchmarks settled higher on Friday and recorded a second consecutive
(Investing) – CALGARY – Canada’s oilfield drilling and services sector is already showing signs of slowing due to U.S. President Donald Trump’s threatened tariffs, triggering fears that an expected industry rebound could stall if such levies go forward. Employment levels in the Canadian drilling sector collapsed between 2014 and 2020 due to sustained low oil prices and reduced production during the
(Investing) – Oil prices fell more than 1% on Friday and were headed for their first monthly drop since November, as markets braced for Washington’s tariff threats and Iraq’s decision to resume oil exports from the Kurdistan region. Uncertainty surrounding OPEC’s production resumption plans in April and ongoing talks to end the war in Ukraine also weighed on investor sentiment.
(Investing) – CALGARY – The Canadian government would have to play a significant role in any project to build new oil pipelines in Canada to overcome regulatory, financial and political hurdles and activist opposition, industry experts said. With U.S. President Donald Trump threatening tariffs on Canadian oil exports, several Canadian politicians have called for new pipelines to coastal export terminals to
(Investing) – LONDON -OPEC+ agreed to stick to its policy of gradually raising oil output from April on Monday and removed the U.S. government’s Energy Information Administration from the sources used to monitor its production and adherence to supply pacts. OPEC+ and Donald Trump clashed repeatedly during his first administration in 2016-2020 when the U.S. President demanded it raise production to
