W. Africa Crude-Nigerian September sells out
Nigeria’s overhang of September crude cargoes sold out by the end of the week but October differentials remain under pressure, while Angolan state-owned Sonangol sold its last October stem. Nigeria’s...
View ArticleUS Cash Crude-Grades down as domestic supply set to rise
U.S. cash crude prices broadly fell on Friday, dealers said, as companies added more oil rigs, and offshore operators impacted by Hurricane Francine started to recover and ramp production back up. U.S....
View ArticleUS drillers add oil and gas rigs for first time in five weeks, Baker Hughes says
U.S. energy firms this week added oil and natural gas rigs for the first time in five weeks in the biggest weekly rise in a year, energy services firm Baker Hughes said in its closely followed report...
View ArticleUS offshore oil industry reawakens after Francine shut-ins
U.S. Gulf of Mexico energy firms on Friday were lumbering back from hurricane disruptions as offshore oil and gas producers ramped up output, ports reopened, and onshore terminals accepted oil and...
View ArticleInvestors are ‘dramatically overestimating’ an oil glut, Carlyle’s Jeff...
Global markets are severely overplaying an oil supply glut, said Jeff Currie, chief strategy officer of energy pathways at private equity giant Carlyle. Concerns about a supply glut in the markets are...
View ArticleU.S. natural gas markets point to steep price rise in 2025
The northern hemisphere summer has not yet officially finished, but United States natural gas markets are already sizing up supply and demand balances for this winter and the next year, and indicate...
View ArticleEU still hesitant to sanction Russian gas as report highlights scale of...
The annual State of the EU Energy Union report shows Europe still relies on Russia for nearly a fifth of its gas imports, while the EU executive is concerned at the slow pace of the transition away...
View ArticleNearly 30% of US Gulf of Mexico oil output offline after storm
Nearly 30% of U.S. Gulf of Mexico crude oil production and 41% of its natural gas production remained offline on Saturday following Hurricane Francine, the U.S. offshore energy regulator said. Francine...
View ArticleGlobal LNG demand seen surging 50% from current levels by 2040: Gunvor
Global LNG demand could rise 50% from the current levels by 2040 if prices don’t ratchet as consumption is seen staying stronger, Gunvor Group co-founder and Chairman Torbjörn Törnqvist told S&P...
View ArticleThe Commodities Feed: Chinese oil demand falls
Energy – Weak Chinese oil data Oil prices are trading stronger in the early morning session in Asia today despite weaker-than-expected data out of China over the weekend. The oil-specific numbers were...
View ArticleOil prices climb on Fed rate cut outlook
Oil prices rose in Asian trade on Monday amid expectations of a U.S. interest rate cut this week, though gains were capped by persistent demand worries and weaker China data. Brent crude futures for...
View ArticleOPEC marks its 64th Anniversary
The Organization of the Petroleum Exporting Countries (OPEC) today turned 64, celebrating more than six decades of exceptional achievements and success. Between 10-14 September 1960, representatives of...
View ArticleOil prices climb on hurricane impact ahead of US rate decision
Oil prices rose more than 1% on Monday as the ongoing impact of Hurricane Francine on output in the U.S. Gulf of Mexico offset persistent Chinese demand concerns. Brent crude futures for November were...
View ArticleMiddle East Crude-Benchmarks inch higher; Nov-loading cargoes to trade
Spot premiums for Middle East crude benchmarks Oman, Dubai and Murban crude inched just above $2 a barrel on Monday, with trade for November-loading cargoes to commence this week. QatarEnergy has...
View ArticleOil’s dual dilemma – supply is growing, but China’s slowing
It has the makings of a jigsaw puzzle. And the oil market for now is saddled with more questions than answers amid efforts to solve it. For more than 1,000 delegates who attended the Asia Pacific...
View ArticleChina’s slowdown is weighing on the outlook for global oil demand growth
Amid an abrupt deceleration in Chinese oil consumption, global demand growth is cooling sharply from the rates seen in recent years, which we have been projecting since our first forecast for 2024 was...
View ArticleRussia’s oil refining capacity seen rising in 2nd half of Sept, data shows
Russia’s primary oil refining capacity is expected to rise in the second half of September as refineries are wrapping up their maintenance, according to Reuters calculations based on data from industry...
View ArticleEIA: Development of new fields in Gulf of Mexico to offset production decline...
We recently implemented a new model for forecasting crude oil and natural gas production from the U.S. Federal Offshore Gulf of Mexico (GOM) in the Short-Term Energy Outlook (STEO). In our latest...
View ArticleOPEC+ risks losing control of oil markets
Last week, it argued that oil demand will rise by 2mbd this year. This was more than twice the International Energy Agency’s 900kb/d forecast. It was also very positive on China’s future demand. Yet...
View ArticleThe Commodities Feed: European gas sell-off
Energy – Refiners react to weaker margins ICE Brent settled 1.59% higher yesterday, possibly as shorts in the market cover their positions ahead of Wednesday’s FOMC meeting, where the market is still...
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