Canada sees Europe as new oil market as federal elections announced
Canada is headed to federal polls on April 28 to elect new members of its House of Commons, with contesting political parties unveiling plans to build oil and natural gas infrastructure to the coasts...
View ArticleForties offered higher, programmes in focus
North Sea crude differentials were steady on Friday with Forties offered higher in the Platts window and no discussions on other grades. MAY PROGRAMMES * Supply of the five North Sea crude oil grades...
View ArticleUrals diffs steady, Russia’s Sovcomflot transportation volumes fell 16% in 2024
Urals crude differentials to dated Brent were steady on Friday, while Russia’s leading shipping company Sovcomflot said its transportation volumes fell by 16% in 2024 year on year. Sovcomflot’s...
View ArticleGrades mixed as WTI-Brent spread widens
U.S. crude prices were mixed on Friday as the spread between West Texas Intermediate crude’s discount to Brent crude hit its widest since November, encouraging export demand, dealers said. The...
View ArticleSaudi Arabia may cut May oil prices for Asia to 3-month low
Top oil exporter Saudi Arabia may lower its crude prices for Asian buyers in May to a three-month low, tracking the steep declines in benchmark prices this month, traders said. The May official selling...
View ArticleTrump ‘pissed off’ at Putin, threatens tariffs on Russian oil if Moscow...
U.S. President Donald Trump said on Sunday he was “pissed off” at Russian President Vladimir Putin and will impose secondary tariffs of 25% to 50% on buyers of Russian oil if he feels Moscow is...
View ArticleRussian central bank sees chance of prolonged low oil price cycle
Russia’s central bank has warned the Kremlin’s policy makers the United States and OPEC have the capacity to flood the oil market and cause a repeat of the prolonged price collapse of the 1980s – which...
View ArticleOil prices ease despite Trump warning of possible tariffs on Russian buyers
Oil prices eased on Monday and headed for a modest quarterly loss, despite a warning from U.S. President Donald Trump that he may impose secondary tariffs on buyers of Russian oil if he feels Moscow is...
View ArticlePetroChina reports record 2024 net income on higher production
PetroChina 601857, 601857, Asia’s largest oil and gas producer, on Sunday said annual net profit rose 2% to a record high, as moderately higher production helped to offset lower oil prices. Its net...
View ArticleIndia Anchored To Hydrocarbon Imports As Forecast Production Falls Short Of...
India continues to reign as the world’s third-largest energy consumer, and by 2030 the IEA forecasts gas demand of 103bcm per annum, up 60% on 2023 levels. Liquid demand is also trending upwards, with...
View ArticleUS to revoke authorizations to foreign partners of Venezuela’s PDVSA, sources...
The U.S. government has notified foreign partners of Venezuela’s state oil company PDVSA of the imminent cancellation of authorizations that allow them to export Venezuelan oil and byproducts, sources...
View ArticleUS oil production fell to an 11-month low in January, EIA data shows
U.S. crude oil production fell by 305,000-barrels-per-day (bpd) to 13.15 million bpd in January, the lowest since February 2024, data from the U.S. Energy Information Administration showed on Monday....
View ArticleTrump’s Russian oil tariff threat doesn’t faze traders who suspect bluff
U.S. President Donald Trump’s threat to hit buyers of Russian oil with tariffs had a limited impact on oil markets on Monday, as traders tried to determine how far the White House could go after...
View ArticlePresident Trump’s inflation fight could put pressure on oil
Chris Wright, the US energy secretary, last week explained President Donald Trump’s economic priorities. “He got elected to lower prices for American consumers,” Wright told Bloomberg TV. “You think...
View ArticleTrump’s Russia oil tariff threat depends on China, India reaction
U.S. President Donald Trump’s threat to impose secondary tariffs of 25% to 50% on buyers of Russian crude oil is just crazy and bold enough to perhaps achieve his stated aim of a ceasefire in Ukraine....
View ArticleTrump threat on Russia oil cannot be dismissed – UBS CIO
Over the weekend, U.S. President Donald Trump threatened tariffs on Russian oil if Moscow blocks a Ukraine deal, and today oil markets are waiting to see if that threat is a bluff. UBS wealth...
View ArticleCHINA DATA: Crude throughput set to decline in March-April amid maintenance
The crude throughput at China’s refineries is expected to decline in both March and April, with the peak maintenance season kicking off in the second half of March, data from Platts showed March 31,...
View ArticleSofter demand outlook to weigh on oil, OPEC+ walks a tightrope
Oil prices are set to remain under pressure in 2025 as U.S. tariffs and slowing economic growth in India and China weigh on demand, while OPEC+ pushes forward with plans to increase output, a Reuters...
View ArticleThe Commodities Feed: Secondary tariff threats push oil higher
Energy – Secondary tariff threat Oil prices rose yesterday amid growing threats to oil supplies. ICE Brent settled almost 2.8% higher after with President Trump threatened secondary tariffs on Russia...
View ArticleKazakhstan’s oil and condensate production hits record in March, sources say
Kazakhstan’s oil and condensate output reached a record high in March, with higher output from the giant Tengiz oilfield and stable exports via the Caspian pipeline, further exceeding OPEC+ production...
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