Iran oil prices to China at multi-year high after exports fall, sources say
Discounts on Iranian crude oil sold to China are at their tightest in around five years as lower exports drive up prices amid concerns that Middle East tensions may disrupt supply, trading sources...
View ArticleOPEC actions increasing volatility and hampering new investment in oil and...
OPEC+ oil supply cuts and recent efforts to unwind them have increased volatility in energy markets and hampered investment in new production, the CEO of Italian energy company Eni said. Speaking at an...
View ArticleOil falls as projected Trump win sends US dollar higher
Oil prices fell 2% on Wednesday as projections that Republican Donald Trump had won the U.S. presidential election pushed the dollar higher. Brent crude oil futures LCOc1 were down $1.25, or 1.65%, at...
View ArticleOil and gas producers cut US Gulf of Mexico output ahead of storm
Oil and gas producers began shutting in U.S. Gulf of Mexico output and pulling workers off platforms on Tuesday ahead of a late hurricane season storm threatening offshore fields. The U.S. National...
View ArticleSouth Korea to add 3 mil barrels to oil storage amid supply disruption fears
State-run Korea National Oil Corp. plans to add about 3 million barrels of crude oil and products to its strategic stockpile for national security to guard against disruptions from existing suppliers,...
View ArticleMiddle East Crude-Dubai dips, Oman and Murban stabilize
Middle East crude benchmark premiums for Dubai dipped on Wednesday, while that for Oman and Murban stabilized. Oil prices fell as much as 2% on Wednesday after two sessions of gains, as the dollar...
View ArticleRussia’s oil output at 9 mln bpd as promised to OPEC+, Novak says
Russia will stick to its commitments to the OPEC+ group of leading oil producers and has reached its promised oil output level of 9 million barrels per day, Deputy Prime Minister Alexander Novak said...
View ArticleUS crude inventories rise as exports fall, the EIA says
U.S. crude oil stockpiles rose last week as exports declined, while fuel inventories also grew on weaker demand, despite record product exports, the U.S. Energy Information Administration (EIA) said on...
View ArticleUrals prices climbed back above western price cap on firmer Brent
Prices for Russian flagship Urals oil grade cargoes loading in November have climbed back above $60 per barrel at Russian Baltic and Black Sea ports on firmer Brent, traders said and Reuters...
View ArticleOil rises as investors take stock of Trump victory, US crude stocks rise
Oil prices turned positive on Wednesday after falling by more than $2, despite U.S. crude stocks rising by more than expected, according to the Energy Information Administration (EIA). Brent crude oil...
View ArticleUS ELECTIONS: Texas oil and gas stalwart keeps Senate seat, NC governor to...
In the US elections on Nov. 5, Republican Senator Ted Cruz fought off his Democratic challenger in Texas, while the North Carolina and New Hampshire governors are projected to hand off their offices to...
View ArticleEuropean gas, LNG markets expect volatility on US presidential elections
Energy markets across the globe saw strength from uncertainty around the US presidential election Nov. 5, with gas and LNG markets seeing support US voters headed to the polls. Platts last assessed the...
View ArticleUS gasoline stockpiles hit 2-year low on stronger demand, EIA says
U.S. gasoline stockpiles fell unexpectedly last week to a two-year low on strengthened demand, the Energy Information Administration (EIA) said on Wednesday, while crude inventories also posted a...
View ArticleAramco’s Asia-bound Dec crude oil OSP cuts ‘fair,’ within expectations: traders
Saudi Aramco’s cuts to its December crude oil official selling prices for Asia-bound cargoes were well within expectations, with OSPs for the heavier grades seeing smaller cuts due to possible tighter...
View ArticleOil hedging activity hits record in October as traders eye market risks
Investors ramped up oil futures and options trading in October to record levels in a bid to hedge growing uncertainty as war rages on in the Middle East and a bearish 2025 supply and demand outlook...
View ArticleLate season storm could disrupt 4 mln barrels of US oil output, researchers say
A late season tropical storm predicted to intensify into a category 2 hurricane in the U.S. Gulf of Mexico this week could reduce U.S. oil production by about 4 million barrels, researchers said. Storm...
View ArticleOil steadies as investors digest US election fallout
Oil held steady on Thursday after a sell-off triggered by the U.S. presidential election, with a stronger dollar and lower crude imports in China balancing supply risks from a Trump presidency and...
View ArticleThe Commodities Feed: Complex recovers
Energy – Hurricane Rafael shuts in oil production Oil prices faced pressure yesterday as the US dollar surged with the clarity of the election results. However, the oil market managed to recover a...
View ArticleChina, India demand to determine 2025 global oil prices, Hengli executive says
Fuel demand growth in China and India will determine the direction of global oil prices in 2025 as supply remains ample, the CEO of Hengli Petrochemical International said on Thursday. “Supply has been...
View ArticleUS ELECTIONS: Trump may boost energy sanctions on Russia, in addition to...
Donald Trump is expected to wield oil sanctions fiercely against Iran in his second term in the White House, but some experts say he could also put stronger energy sanctions on the Kremlin if Russia...
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