API shows weekly US crude, gasoline stockpiles fall, market sources say
U.S. crude oil and gasoline inventories fell while distillates rose last week, according to market sources citing American Petroleum Institute figures on Tuesday. The API figures showed crude stocks...
View ArticleCIO sees lower OPEC+ crude production in Sept tightening the oil market further
On 5 September, the eight member countries of OPEC+ with voluntary production cuts decided to extend their voluntary production cuts for two months until the end of November 2024. The statement...
View ArticleOil recovers after slide as US inventory drop, storm support
Oil climbed more than 1% on Wednesday, paring some of the previous day’s losses, as a drop in U.S. crude inventories and concern about Hurricane Francine disrupting U.S. output counteredconcerns about...
View ArticleThe Commodities Feed: Brent below $70/bbl
Energy – Brent below $70 Oil prices continued to weaken yesterday. ICE Brent fell 3.69%, settling at just over $69/bbl. This is the first time Brent has closed below $70/bbl since late 2021. Technicals...
View ArticleMiddle East Crude-Dubai holds steady; Oman, Murban ease
Middle East crude benchmark Dubai held steady on Wednesday, supported by bids from Mitsui and Vitol while spot premiums for Oman and Murban eased. SINGAPORE CASH DEALS Cash Dubai’s premium to swaps...
View ArticleNew oil and gas ban threatens jobs, unions warn
More than 30,000 jobs are under threat from the government’s plans to ban new licences for oil and gas production in the UK, unions have warned. Delegates at the TUC Congress in Brighton narrowly voted...
View ArticleOil recovers as US inventory drop, storm provide support
Oil climbed more than $1 on Wednesday, reversing some of the previous day’s losses, as a drop in U.S. crude inventories and concern about disruptions to U.S. output from Hurricane Francine countered...
View ArticleUS oil stocks build as crude imports rise, fuel demand weakens – EIA
U.S. oil stockpiles rose across the board last week as crude imports grew and exports dipped and as gasolineand distillate demand weakened, the Energy Information Administration (EIA) said on...
View ArticleUS crude stocks, gasoline and distillate inventories rise – EIA
U.S. crude stocks, gasoline and distillate inventories rose in the week ending September 6, the Energy Information Administration (EIA) said on Wednesday. Crude inventories rose by 833,000 barrels to...
View ArticleBearish oil price view looms over LNG trading and contracting activity
US elections watched closely for impact on foreign policy A bearish oil price view for 2025 is likely to have an overhang on LNG trading but the market will still be dominated by supply-demand factors,...
View ArticleUS EIA cuts 2024 crude outlooks by more than $1/b amid slowing economic activity
The US Energy Information Administration lowered its 2024 crude price forecasts by more than $1/b on Sept. 10, noting that slowing global economic activity, reduced fuel demand in China and signs of...
View ArticleThe oil shock that hasn’t happened
In early August, energy traders were bracing for an Iranian attack on Israel that could trigger a broader Middle East war and an oil price spike. Six weeks later, markets are blithely unconcerned and...
View ArticleNatural gas pipeline capacity from the Permian Basin is set to increase
Natural gas pipeline takeaway capacity in the Permian Basin will soon increase as the Matterhorn Express Pipeline, with a capacity of 2.5 billion cubic feet per day (Bcf/d), is expected to begin...
View ArticleJapan considers company support measures for long-term LNG contracts
The Japanese government is considering support measures to make it easier for companies to enter into long-term purchase contracts for liquefied natural gas to ensure a stable supply of the...
View ArticleChina oil products demand begins decline from 2023 peak, researcher says
Oil products demand in China, long the driver of global crude consumption, peaked in 2023 and is forecast to decrease by 1.1% annually between 2023 and 2025, with the drop accelerating in subsequent...
View ArticleAsian upstream players to focus on oil, gas producing assets amid energy...
Asian upstream players will prioritize purchasing stakes in oil and gas producing assets amid pressure for shorter-term returns alongside uncertainties over the global energy transition, industry...
View ArticleOil prices jump 1% on fears over hurricane impact on US output
Oil prices rose more than 1% on Thursday, extending a rebound spurred by concern over Hurricane Francine’s impact on U.S. output, though a gloomy demand outlook capped gains. Brent crude futures for...
View ArticleThe Commodities Feed: The complex moves higher
Energy – Hurricane Francine production impact ICE Brent rallied back above US$70/bbl yesterday and the front-month contract settled more than 2% higher on the day. As mentioned yesterday, the market...
View ArticleIndia wants OPEC+ to raise oil output, oil secretary says
India wants oil producers group OPEC and its allies to raise oil output as there are countries such as India where fuel demand is rising, the nation’s oil secretary Pankaj Jain said on Thursday. The...
View ArticleMiddle East Crude-Dubai eases; Saudi supply to China set to rise in October
The spot premium for the Middle East crude benchmark Dubai inched lower on Thursday after Saudi Arabia allocated more supply to the world’s top importer, China, in October. SAUDI ALLOCATION Saudi...
View Article