US drillers add oil and gas rigs for second time in three weeks – Baker Hughes
U.S. energy firms this week added oil and natural gas rigs for the second time in three weeks, energy services firm Baker Hughes BKR.O said in its closely followed report on Friday. The oil and gas rig...
View ArticleKremlin: Interruptions in Russian oil transit via Ukraine a ‘crisis’ for buyers
Kremlin spokesman Dmitry Peskov on Friday called interruptions in Russian oil transit via Ukraine a “crisis” for the affected oil buyers, but said there was little scope for talks with the Ukrainian...
View ArticleWhy closer attention is now being paid to LNG emissions
The increasing role of LNG in meeting global energy demand since the Russia-Ukraine war, combined with rapidly growing pressures to decarbonise energy-intensive economic activities, has led to...
View ArticleOil prices rise as investors look forward to U.S. rate cuts
Oil prices rose in Asia on Monday as investors watched for further signs that the U.S. might start to cut interest rates as soon as September. Brent crude futures had gained 32 cents, or 0.39%, to...
View ArticleThe Commodities Feed: Middle East tensions build
Energy – Specs trim Brent longs Oil prices fell for a second consecutive week last week. ICE Brent settled about 2.8% lower last week, the biggest weekly decline since early May. Concern over weaker...
View ArticleSaudi Arabia’s growth this year marred by lower for longer oil output
Saudi Arabia’s economic growth will likely be one of the slowest among the Gulf Cooperation Council (GCC) countries this year, according to a Reuters poll of economists who lowered growth forecasts...
View ArticleRussia’s Tuapse oil refinery damaged in Ukraine drone attack, Russian...
Russia’s Tuapse oil refinery, its biggest on the Black Sea, was damaged in a major Ukrainian drone attack overnight which sparked a fire, Russian officials said on Monday, though the extent of the...
View ArticleOIL FUTURES: Prices slightly higher despite attack on Yemeni terminal, Biden...
Oil futures opened slightly higher July 21, appearing to shrug off news of an attack on Yemen’s Hodeidah oil products terminal and news that US President Joe Biden was dropping out of the 2024...
View ArticleMiddle East Crude-Benchmarks ease; IRPC buys Abu Dhabi light grades
Spot premiums for Middle East crude benchmarks Oman, Dubai and Murban crude eased on Monday as buying interest from Asian refiners slowed after a flurry of trade activities last week. Thai refiner IRPC...
View ArticleRussian gasoline grade’s price surges as shortages persist
The wholesale price of Russian high-octane Ai-95 gasoline jumped by around 44% in the past month and a half, close to an all-time peak, amid shortages of the grade due to refinery maintenances and high...
View ArticleOil flat as hopes of European rate cut offset possible Gaza ceasefire
Oil prices were flat on Tuesday after a European Central Bank official hinted at a possible rate cut in September, offsetting pressure from renewed hopes of a ceasefire in the war in Gaza. Brent crude...
View ArticleThe Commodities Feed: Further downward pressure
Energy – Russian crude transit issues Oil prices came under further pressure yesterday with demand concerns lingering in the market. However, we remain constructive towards the market through the third...
View ArticleOil market likely to be in surplus next year, Morgan Stanley says
The crude oil market is currently tight but next year will likely be in surplus, with Brent prices declining into the mid-to-high $70s range, Morgan Stanley said. The tightness will hold for most of...
View ArticleIran lowers August light crude oil price to Asia
Iran has set the official selling price (OSP) for its light crude oil grade for Asian buyers at $2.10 a barrel above the Oman/Dubai average for August, state-owned National Iranian Oil Company (NIOC)...
View ArticleNorway June oil and gas output beat forecasts
Norway’s natural gas output rose in June, beating an official forecast, while crude oil production also exceeded expectations, the Norwegian Offshore Directorate (NOD) said on Tuesday. Natural gas...
View ArticleRussia accuses Ukraine of using oil transit issue as a ‘manipulation button’,...
Russian Foreign Ministry spokeswoman Maria Zakharova on Tuesday accused Ukraine of using the issue of energy transit via its territory as a “manipulation button”, the TASS state news agency reported....
View ArticleUkraine’s Naftogaz plans to increase gas, oil output in 2024
Ukraine’s largest state energy company Naftogaz is planning to increase its gas and oil production this year despite a constant threat of Russian bombardments, its CEO said on Monday. CEO Oleksiy...
View ArticleMiddle East Crude-Oman, Dubai premiums rise; Murban edges lower
Spot premiums for Middle East crude benchmarks Oman and Dubai rose on Tuesday while Murban’s premium inched down. ARBITRAGE India’s BPCL has awarded a tender to buy 6 million barrels of U.S. West Texas...
View ArticleUS crude, refined product stocks expected lower amid strong demand, rising...
US crude and refined product inventories likely fell the week ended July 19 for the third consecutive week, analysts surveyed by S&P Global Commodity Insights said July 22, as summer travel season...
View ArticleOil prices fall 2% to six-week low on ceasefire talks, demand concerns
Oil prices fell about 2% to a six-week low on Tuesday on rising expectations of a ceasefire in Gaza and growing demand concerns in China. Brent futures fell $1.38, or 1.7%, to $81.02 a barrel by 12:13...
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