(Investing) – LONDON -Oil prices fell more than 2% on Wednesday, weighed down by oversupply concerns as OPEC said global oil supply will match demand in 2026, marking a further shift from its earlier projections of a supply deficit. Brent crude futures slipped $1.35, or 2%, to $63.81 a barrel by 1417 GMT after gaining 1.7% on Tuesday. U.S. West Texas Intermediate crude was
(Oil Price)– Shell has challenged an arbitration ruling against it in the long-running dispute with Venture Global over contracted LNG supply, alleging the U.S. LNG exporter withheld information to Shell and the arbitration court. Shell has challenged the arbitration decision at the New York Supreme Court, the supermajor told Reuters on Tuesday. Shell has sued Venture Global for selling LNG on the
(Oil Price) – Norway’s $2.1-trillion oil fund is looking to invest in renewable energy assets in the U.S. and expand its clean energy portfolio in Europe, a senior executive at the world’s largest sovereign wealth fund told Bloomberg in an interview published on Monday. The fund has recently hired three people in New York, Harald von Heyden, global head of energy and infrastructure
(Investing) – LONDON -Oil prices edged higher on Monday as investors assessed moves aimed at ending the U.S. government shutdown while concerns around oversupply in the crude market persisted. Brent crude futures rose 43 cents, or around 0.7%, to $64.06 a barrel by 1409 GMT. U.S. West Texas Intermediate crude was at $60.18 a barrel, also up about 43 cents or 0.7%. The U.S.
(Investing) – ATHENS -Global investments in renewable energy aren’t bearing fruit and the world should focus on securing reliable supplies of fossil fuels, U.S. energy and interior secretaries said this week as they worked on convincing Europe to buy more U.S. oil and gas. The U.S. has become Europe’s top oil and gas supplier on the back of the U.S. shale
(Investing)– Oil prices rose Thursday, rebounding after logging sharp losses in recent sessions as expectations of a supply glut and softening demand presented a weak outlook for crude. At 04:45 ET (09:45 GMT), Brent oil futures for January rose 0.7% to $63.98 a barrel and West Texas Intermediate crude futures gained 0.9% to $60.15 a barrel. Both contracts slid some 1% each on Wednesday,
(Oil Price) – OPEC+ just agreed to boost oil production for another month. Luckily for U.S. shale, they also decided to pause the hikes, which would help the shale industry dodge the bullet of WTI of $50. This is good news for an impressively resilient industry, because its resilience seems to taper out around $50 per barrel. This weekend, the OPEC+ group said
(BOE Report) – Morgan Stanley on Monday raised its Brent crude forecast for the first half of 2026 to $60 a barrel from $57.5, citing the decision by OPEC+ to pause quota hikes in the first quarter of next year and recent U.S. and EU sanctions on Russian oil assets. The bank expects a “substantial surplus” in the oil market
(Oil price)– Indian Oil Corp. is looking to buy 24 million barrels of crude oil from the Americas in the first quarter of next year to replace lost Russian supply after the latest U.S. sanctions on Rosneft and Lukoil. Bloomberg reported that the company, which is India’s largest refiner, is looking for cargos from the United States, Canada, Brazil, and Latin America.
(Investing)– BUSAN, South Korea/BEIJING (Reuters) -U.S. President Donald Trump hailed a meeting with China’s Xi Jinping as “amazing” and “12” on a 10-point scale, but the agreement the two leaders reached appears to be no more than a fragile truce in a trade war with root causes still unresolved. The framework announced on Thursday – that includes China resuming soybean
(World Oil) – The Trump administration is ruling out selling offshore oil and gas leases along the U.S. East Coast, after its initial plan for auctioning them drew alarm from Republican strongholds in the Southeast. The shift in thinking comes after the White House earlier contemplated a more expansive approach to auctioning offshore drilling rights, having drafted plans for potential
(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
