Big oil’s big payouts under strain as energy prices fall
Major energy companies are set to borrow billions to maintain shareholder payouts or cut the rate of share repurchases in the face of a drop in oil prices after more than two years of bumper profits,...
View ArticleRussia’s Novak says OPEC+ to continue key role in stabilising oil market
Russian Deputy Prime Minister Alexander Novak said the OPEC+ group of leading oil producer will continue to play a decisive role in global oil market stabilisation. He also said in a column for the...
View ArticleRussian oil and gas revenue drops 1% in September, data shows
Proceeds from oil and gas sales for Russia’s federal budget in September edged down by about 0.9% from August to 771.9 billion roubles ($8.13 billion), finance ministry data showed. That was broadly in...
View ArticleOil prices climb as Middle East conflict counters ample supply outlook
Oil prices rose further on Friday and were on track for strong weekly gains as investors weighed the prospect of a wider Middle East conflict disrupting crude flows against a well-supplied global...
View ArticleOil prices set for 9% weekly gains on threat of wider war in the Middle East
Oil prices were on track for weekly gains of 9% as investors feared a wider Middle East conflict could disrupt crude flows after President Joe Biden said the United States was discussing an Israeli...
View ArticleMiddle East Crude-Benchmarks rise, Dubai gains for third straight session
Middle East crude benchmarks Oman, Dubai and Murban all rose on Friday, with Dubai premiums gaining for a third consecutive session. SINGAPORE CASH DEALS Cash Dubai’s premium to swaps rose 19 cents to...
View ArticleWhy oil prices haven’t skyrocketed on Middle East supply fears — yet
Oil prices have jumped more than $5 a barrel since the start of the week amid intensifying fears that Israel could launch an attack on Iran’s energy infrastructure. The rally, which puts crude futures...
View ArticleOil market faces a rude awakening if Iran’s energy infrastructure is...
Oil markets are being too complacent given the risk of major supply disruptions in the Middle East, analysts told CNBC on Thursday, with one warning that crude futures could rally to more than $200 a...
View ArticleOctober Russian Urals oil prices trade $5/bbl above price cap as Brent...
Prices of October Urals crude oil have risen back above $65 a barrel at Russian Baltic and Black Sea ports, or $5 higher than the price cap set by Western nations, Reuters calculations showed on...
View ArticleExxon Mobil expects 3rd-quarter earnings were hit by lower oil prices
A slump in oil prices probably reduced ExxonMobil’s XOM.N third-quarter upstream earnings by $600 million to $1 billion, the oil major signaled in a regulatory filing published on Thursday. Oil prices...
View ArticleNorth Sea Crude-Forties, Ekofisk bid higher
North Sea Forties and Ekofisk crude differentials rose on Friday after higher bids from Vitol in the Platts window, although no offers were seen on benchmark grades. PLATTS WINDOW Indications are on a...
View ArticleEurope Gasoline/Naphtha-Gasoline margins end week lower as stocks rise
Northwest European gasoline refining margins dropped to $3.30 a barrel on Friday, their lowest in almost a year, following a gain in regional stocks and as exports slowed. A total of 18,000 metric tons...
View ArticleMed crude-Urals diffs stable, outright prices rise as Brent rallies
Urals crude oil differentials were steady on Friday, while outright prices for the grade firmed amid a rally in Brent prices, which rose for a fourth consecutive session. Prices of October Urals crude...
View ArticleW. Africa Crude-Nigerian steady; Forcados, other grades offered
Nigerian crude differentials were steady on Friday as a pending buying tender was prompting some sellers to keep to the sidelines. Nigerian crude differentials for prompt cargoes have come under...
View ArticleUS drillers cut oil and gas rigs for third week in a row
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a third week in a row, energy services firm Baker Hughes said on Friday in its closely followed report. The oil and...
View ArticleWhat Israel’s potential response could mean for the oil market
Oil prices firm amid growing supply risks ICE Brent is trading more than 8% higher than it was before Iran’s missile attack on Israel. However, the bulk of this move occurred on Thursday after...
View ArticleGoldman Sachs says crude could spike by $20 on Iran oil shock
Oil prices could shoot up $20 per barrel if Iranian production sees a hit, according to Goldman Sachs. U.S. crude futures rose around 5% on Thursday and ticked higher again Friday morning on concerns...
View ArticleChina stimulus, Middle East flare-ups may help oil recover some lost ground
Rising fears of an escalation of the Middle East conflict, coupled with China’s latest round of stimulus to prop up the economy could provide oil an opportunity to recover some of its lost ground...
View ArticleOPEC+ still has an Asia dilemma as crude imports remain soft
The OPEC+ group of crude oil exporters is still planning on lifting output from December, but it will be doing so against a backdrop of weak demand in the top-importing region of Asia. Asia’s imports...
View ArticleOil watchers now see a real threat of supply disruptions after latest...
Oil watchers are now seeing a genuine threat to crude supplies after Iran launched a ballistic missile attack on Israel, escalating conflict in the Middle East. Iran on Tuesday launched the strike on...
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