(By Oil & Gas 360) – Global energy markets are no longer operating as a single, integrated system. What has emerged instead is a parallel structure, one shaped as much by geopolitics and sanctions as by supply and demand. Nowhere is that shift more visible than across Eurasia, where countries are adapting to a market that is increasingly divided, rerouted,
(Investing) – PARIS – Canada will step up support to Ukraine’s energy sector, working with industry to supply oil and gas equipment on favourable terms and boost renewable energy investments, the two governments said on Wednesday. Russia has targeted power stations, electricity transmission lines and gas facilities as part of its full-scale invasion of Ukraine, which began in February 2022. Russian
(World Oil) – Ukraine overnight targeted three drilling platforms in the Caspian Sea owned by Russian oil major Lukoil in the latest move to weaken Russia’s economic capacity to fund its war effort. The platforms, V. Filanovsky, Yuri Korchagin, and Valery Grayfe, sustained direct hits, the General Staff of the Armed Forces of Ukraine said on its Telegram channel. The
(Oil Price) – Russia’s crude oil production dipped to 9.326 million barrels (bpd) in December, down by over 100,000 bpd from November and nearly 250,000 bpd lower than Moscow’s OPEC+ quota, sources familiar with classified government data told Bloomberg on Friday. The fresh U.S. sanctions on Russia’s top producers Rosneft and Lukoil drove the lower crude output at the end of last year.
(World Oil)– Oil reversed Friday’s decline as U.S.-led talks to end the war in Ukraine failed to yield a breakthrough, and China vowed to support growth next year. Brent traded near $62 a barrel, while West Texas Intermediate topped $58. The U.S. has stepped up a push to end the war, but sticking points remain, highlighting the difficulty in reaching
(Investing)– Oil prices rose by more than $1 on Monday as investors weighed talks between the U.S. and Ukrainian presidents on a possible deal to end the war in Ukraine against potential oil supply disruption in the Middle East. Brent crude futures rose $1.33, or 2.2%, to $61.97 a barrel by 1416 GMT while U.S. West Texas Intermediate crude was up $1.31, or
(BOE Report)– Oil prices posted modest rises on Wednesday, extending gains from the previous session, supported by robust U.S. economic growth and the risk of supply disruptions from Venezuela and Russia. Brent crude futures climbed 4 cents, or 0.06%, to $62.42 a barrel by 0117 GMT, while U.S. West Texas Intermediate crude added 3 cents, or 0.05%, to $58.41. Oil
(Oil Price)– The international gold and foreign exchange reserves held by the world’s biggest oil-producing nations in the EU could be at risk, Russian President Vladimir Putin said on Friday, after EU leaders discussed using frozen Russian assets to help Ukraine. “This is not just a blow to its image; it is an undermining of trust in the euro zone,” Putin
(Investing) – Oil prices traded in a steady manner Wednesday, stabilizing after the previous session’s sharp losses, as investors weighed a smaller-than-expected draw in U.S. crude inventories and growing signs of progress toward a potential Russia-Ukraine peace framework. At 04:15 ET (09:15 GMT), Brent Oil Futures expiring in January edged up 0.1% to $61.83 per barrel and West Texas Intermediate (WTI) crude futures slipped 0.2%
(Investing)– Ukraine has agreed to the terms of a potential peace deal with the United States, according to a U.S. official who spoke to ABC News on Tuesday. “The Ukrainians have agreed to the peace deal,” the official said. “There are some minor details to be sorted out but they have agreed to a peace deal.” The peace plan presented
(Oil Price)– The supertanker freight futures surged on Thursday and Friday after the U.S. sanctions against Russia’s biggest oil firms created a rush to replace Russian barrels. The front-month supertanker contracts on the route Middle East to China, the benchmark route, jumped by 16% on Thursday, to the highest level in nearly two years, according to data from the Baltic
(Oil Price)– Oil prices skyrocketed in early Asian trading on Thursday after President Trump announced new sanctions on Russia’s two largest oil producers, Lukoil and Rosneft, marking the first Ukraine-related sanctions of his second term. Brent crude futures jumped 5.53% to $66.05 per barrel, while WTI crude futures surged 6.05% to $62.04 per barrel, as traders weighed the immediate threat to Russian supply.
