The Commodities Feed: Hurricane risk lingers
Energy – Hurricane risk lingers The oil market managed to eke out its fourth consecutive weekly gain with ICE Brent settling marginally higher on the week. Hurricane activity in the Gulf of Mexico has...
View ArticleOil slips as Gaza talks ease supply disruption woes; Hurricane Beryl in focus
Oil prices slid on Monday after rising for four weeks, as the prospect of a ceasefire deal in Gaza eased geopolitical tensions in the Middle East, while investors assessed potential disruption to U.S....
View ArticleEquinor starts production from Kristin South
Equinor and its partners Petoro, Vår Energi, and TotalEnergies EP Norge started production from the first Lavrans well in the Kristin South area on 7 July. The partnership submitted the plan for...
View ArticleKazakhstan has prepared plan to compensate for oil overproduction
Kazakhstan will compensate for oil output exceeding its OPEC+ quota in the first half of this year by September 2025, its energy ministry said on Monday, adding that it has prepared a detailed plan for...
View ArticleMiddle East Crude-Benchmarks slip ahead as markets await August allocation
Middle East crude benchmarks Oman, Dubai and Murban all declined and reversed previous session gains, as traders were eyeing how much volumes Asian buyers will be lifting from Saudi Arabia for August...
View ArticleExxon Mobil signals second-quarter earnings hit from refining margins,...
Exxon Mobil XOM.N said on Monday lower natural gas prices and refining margins are expected to hit the oil major’s second-quarter earnings. The oil major would be reporting its first earnings after...
View ArticleNew reformist Iran president aims to eliminate crude discount, end sanctions...
Reformist politician, Masoud Pezeshkian, won Iran’s presidential runoff July 6, opening the prospect for the OPEC member to supply more crude to the market and energize its aging oil and gas...
View ArticleOil down on worries Hurricane Beryl could hit US demand
Oil prices eased about 1% to a one-week low on Monday as Hurricane Beryl shut U.S. refineries and ports along the Gulf of Mexico, and on hopes a possible ceasefire deal in Gaza could reduce worries...
View ArticleIndia’s June fuel demand edges up 2.6%
India’s fuel consumption rose by 2.6% year-on-year to 19.99 million metric tons in June from a year earlier, data from the Petroleum Planning and Analysis Cell of the oil ministry showed on Monday. WHY...
View ArticleRecord US summer heat, hurricanes could roil fuel prices as oil refiners sweat
A double whammy of record heat and hurricanes should test U.S. refiners’ resilience in coming weeks, raising the risk of extremely volatile fuel prices in the middle of the peak travel season, analysts...
View ArticleU.S. jet fuel consumption in 2023 remained below the pre-pandemic high
Annual jet fuel consumption in the United States grew in 2023 for the third year in a row but remained below the pre-pandemic peak in 2019, suggesting U.S. aviation had not fully returned to normal...
View ArticleOil prices slip as concerns over hurricane damage ease
Oil prices slipped on Tuesday after a hurricane that hit a key U.S. oil-producing hub in Texas caused less damage than markets had expected, easing concerns over supply disruption. Brent futures fell...
View ArticleThe Commodities Feed: Hurricane concerns ease
Energy – RBOB spec short grows The worst of Hurricane Beryl appears to have passed and now the market awaits an assessment of damage to energy infrastructure along the Texan coast. Early indications...
View ArticleIran’s oil production to reach 4m bpd
The Iranian Oil Minister Javad Oji has said the country plans to increase its daily crude production to 4.0 million barrels per day (bpd) by late March 2025 and the preparations for the mentioned...
View ArticleOil companies in Texas restoring operations following hurricane Beryl
Oil and gas companies in Texas were restarting operations on Tuesday after Hurricane Beryl lashed the state with 80-mph winds, damaging property and leaving millions of people without power. Beryl made...
View ArticleSaudi Aramco returns to debt market with three-tranche dollar bond sale
Saudi state oil giant Aramco 2222.SE made its return to the debt market on Tuesday after a three-year hiatus, joining top companies and governments in the Gulf that have tapped markets this year to...
View ArticleEni announces oil and gas discovery at Area 9 in the Gulf of Mexico
Eni has made a new oil and gas discovery in the shallow-water Gulf of Mexico which could hold as much as 400 million barrels of oil and gas, the Italian firm said July 8. The discovery was made at Area...
View ArticleBP expects weaker refining, trading to hit Q2 earnings
BP expects lower realised refining margins and a weak oil trading to hurt its second-quarter earnings, the oil firm said on Tuesday. The hit from refining margins is expected to be between $500 million...
View ArticleMiddle East Crude-Benchmarks slip; China lifts more Saudi volumes for August
Middle East crude benchmarks Oman, Dubai and Murban slipped for a second straight session this week, with the market seeing a flurry of open window activity after stronger liftings of August contract...
View ArticleOil companies in Texas restoring operations following storm Beryl
Oil and gas companies in Texas were restarting operations on Tuesday after Hurricane Beryl lashed the state with 80-mph winds, even as some facilities sustained damages and power had not been fully...
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