Oil prices steady as US output concerns counter tepid Chinese demand
Oil prices were steady on Tuesday, after rising more than $1 in the previous session, as traders assessed concerns over U.S. production in the aftermath of Hurricane Francine and also the prospect of...
View ArticleMiddle East Crude-Benchmarks extend gains for 2nd session
Spot premiums for Middle East crude benchmarks Oman, Dubai and Murban crept higher for a second session on Tuesday as buying interest from Japanese refiners emerged. Idemitsu has bought Murban crude at...
View ArticleOil prices steady with spotlight on US rate verdict
Oil prices held steady on Tuesday in choppy trade as the focus turned to the U.S. Federal Reserve’s policy meeting that concludes on Wednesday, while fears of weaker demand in China curbed gains....
View ArticleInvestors turned more bearish on oil last week than ever
Investors were more bearish than ever on crude oil last week, deepening a months-long selloff that pressured prices to multi-year lows amid growing concerns of weak demand in top consuming nations....
View ArticleUS crude inventories likely fell last week, gasoline seen up
U.S. crude oil stockpiles were expected to have fallen last week, while gasoline inventories likely rose, a preliminary Reuters poll showed on Monday. Five analysts polled by Reuters estimated on...
View ArticleOil market update – Market surplus is on the horizon for 2025
The weakness in Chinese demand and the higher supply by Non-OPEC+ producers have pushed oil prices lower. The geopolitical premium has also diminished as fears for escalation in the Middle-East have...
View ArticleAPI shows US oil stockpiles rose last week, market sources say
U.S. crude oil and fuel stockpiles rose last week, according to market sources citing American Petroleum Institute figures on Tuesday. Crude stocks rose by 1.96 million barrels in the week ended Sept....
View ArticleOPEC stays focused on stable oil market, says chief
The Organization of the Petroleum Exporting Countries (OPEC) will continue to focus on ensuring that the oil market is stable and balanced in the interest of all producers and consumers, as well as the...
View ArticleChina stored massive volumes of crude oil in August on soft prices
China boosted crude oil inventories in August by the biggest amount in 14 months, confirming that the rebound in imports was driven by stockpiling and not by any recovery in fuel consumption. A total...
View ArticleOil slips for first day in three ahead of Fed decision
Oil fell on Wednesday after two sessions of gains after an industry report showed increasing U.S. crude and fuel inventories, offsetting rising tension in the Middle East and the potentially bullish...
View ArticleMiddle East Crude-Dubai, Oman strengthen; Chinese refiners snap up Upper...
Spot premiums for Middle East crude benchmarks Oman and Dubai strengthened on Wednesday after Chinese refiners snapped up several Upper Zakum crude cargoes on top of robust demand from Mitsui. Unipec...
View ArticleNorth Sea industry warns government of premature oil, gas shutdown
The UK oil and gas industry could still produce up to 13.5 billion barrels of oil equivalent from the North Sea and is currently beating emissions reduction targets agreed with the government, the...
View ArticleUS to Seek 6 Million Barrels of Oil for Reserve, Amid Low Oil Price
The Biden administration will seek up to 6 million barrels of oil for the Strategic Petroleum Reserve, a source familiar with issue said on Tuesday, a purchase that if completed will match its largest...
View ArticleUS crude inventories hits lowest level in a year, fuel builds, EIA says
U.S. crude oil stockpiles dipped to their lowest level in a year last week,while fuel inventoriesrose, the Energy Information Administration (EIA) said on Wednesday. Crude inventories fell by 1.6...
View ArticleOil prices edge higher on US crude stocks, market awaits Fed decision
Oil prices were up on Wednesday on falling crude inventories in the United States, whiles the market cautiously awaited rate cut details from the Federal Reserve. Crude inventories fell by 1.6 million...
View ArticleOil stares at a bleak future as China’s economy sputters. The good news: A...
As the world’s oil traders and analysts gathered at the annual Asia Pacific Petroleum Conference in Singapore last week, the slump in oil and where it was headed was foremost in everybody’s mind....
View ArticleSaudi Aramco wants to be a major LNG gas player, gas chief says
The world’s largest oil producer, Saudi Aramco, wants to become a major liquefied natural gas player, the head of its natural gas business said. Saudi Aramco has taken the first steps to reach a goal...
View ArticleSanctions hypocrisy: G7+ imports EUR 1.8 bn of Turkish oil products made from...
In the first half of 2024, Turkey has risen from being the 14th largest buyer of Russian crude oil before Russia’s full-scale invasion of Ukraine, to the third largest importer. In the same period,...
View ArticleRussia’s diesel, gasoline output capacity to fall sharply in Sept, data shows
Russia’s ability to produce diesel and gasoline is expected to fall sharply in September as seasonal maintenance at oil refineries peaks, Reuters calculations based on industry sources’ data showed....
View ArticleThe Commodities Feed: The Fed goes big
Energy – SPR refill While oil prices saw a brief spike following the Fed’s 50bp rate cut, the market settled marginally lower on the day. In early morning trading in Asia, oil is again under pressure....
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