Oil jumps more than 4% on concern over more sanctions on Russia
Oil prices rallied more than 4% on Friday to reach their highest levels since October as traders focused on potential supply disruptions from more sanctions on Russia. Brent crude futures gained $3.50,...
View ArticleShell starts production at Whale in the US Gulf of Mexico
Shell Offshore Inc. (Shell), a subsidiary of Shell plc, announced that production has started at the Shell-operated Whale floating production facility in the Gulf of Mexico. Whale replicates the...
View ArticleUpstream M&A: 4 things to look for in 2025
Deal flow wasn’t huge in 2024 but another round of large-scale mergers – primarily in the US – ensured deal spend remained high. What does 2025 have in store for upstream M&A? Drawing on insight...
View ArticleICIS TTF correlation with Asian LNG strengthens in 2024
Throughout 2024 the daily price correlation between European TTF and Asian spot LNG markets held above 90%, with the close connection likely to continue in 2025. The correlation between both markets...
View ArticleEurope’s energy sector key to tariff risk mitigation
US President-elect Donald Trump considers applying duties on imports from the EU if it doesn’t increase purchases of US goods, particularly in energy. The president-elect has also previously challenged...
View Article2024 LNG futures traded volumes rise 49% YOY; Oct sets end-month open...
According to exchange data, record-breaking figures emerged for JKM LNG futures in 2024. End-month open interest and traded volumes reached unprecedented levels as market participants employed hedging...
View ArticleRussia says it will continue oil and gas projects despite US sanctions
Russia’s Foreign Ministry on Saturday denounced new U.S. sanctions against Moscow’s energy sector as an attempt to harm Russia’s economy at the risk of destabilising global markets and said the country...
View ArticleUS and UK toughen sanctions on Russian oil industry
The Biden administration has imposed some of its toughest sanctions yet on Russia, in a move designed to hit Moscow’s energy revenue that is fuelling its war in Ukraine. The measures target more than...
View ArticleCan oil continue its rally? Demand concerns loom ahead
Oil prices have continued their merry run since the beginning of the new year on the back of increased concerns over supply disruptions. Oil benchmarks have climbed more than $5 per barrel since the...
View ArticleThe US tightens oil sanctions against Russia
What sanctions has the US announced? On Friday, the US announced wide-sweeping sanctions against the Russian energy sector, which saw ICE Brent break well above US$80/bbl. These latest sanctions...
View ArticleOil jumps on expected hit to China and India’s Russian supplies
Oil prices extended gains for a third session on Monday, with Brent rising above $80 a barrel to its highest in more than four months, as wider U.S. sanctions are expected to affect Russian crude...
View ArticleRussian oil and gas revenues jump 26% in 2024 to $108 bln
Proceeds from oil and gas sales for Russia’s federal budget in 2024 jumped by more than 26% to 11.13 trillion roubles ($108.22 billion). Oil and gas revenues have been the most important source of cash...
View ArticleIran plans $120bn worth of investment in petroleum projects
Iran is planning to invest up to $120 billion in petroleum projects as the country seeks to increase its oil and gas production to respond to a rising demand for energy. Oil Minister Mohsen Paknejad...
View ArticleMiddle East Benchmarks hit 15-mth high amid tougher US sanctions on Russia
Middle East crude benchmarks Oman, Dubai and Murban rose sharply on Monday to their highest since October 2023 as tougher U.S. sanctions on Russia pushed Asian buyers’ demand for the market. The U.S....
View ArticleMiddle East crude premiums surge after fresh US sanctions on Russian crude
Asian crude traders experienced rising oil prices and spreads Jan. 13 following new US and UK sanctions on Russian crudes from the week ended Jan. 10. Chinese and Indian refiners are expected to...
View ArticleHow geopolitics will ripple through oil prices in 2025
Conflicts and geopolitical uncertainty impacted oil markets in 2024, making for an unpredictable year. The price of Brent crude oil averaged roughly $80 per barrel throughout 2024, but it fell to the...
View ArticleDozens of oil tankers drop anchor after latest US sanctions bite
At least 65 oil tankers have dropped anchor at multiple locations, including off the coasts of China and Russia, since the United States announced a new sanctions package on Jan. 10, ship tracking data...
View ArticleUS diesel prices jump to six-month highs amid NYMEX rally as Midwest...
Outright diesel prices in most regions of the US popped to their highest levels since July following the largest single-day gain in the NYMEX M1 ULSD futures contract since Oct. 12, 2023. At the end of...
View ArticleHow LNG is helping to deliver responsible energy security
The demand for energy and the need for nations to ensure that they can meet that demand has never been greater than it is today. The world is attempting to meet that demand with an increasingly diverse...
View ArticleMiddle East crude premiums surge after fresh US sanctions on Russian crude
Asian crude traders experienced rising oil prices and spreads Jan. 13 following new US and UK sanctions on Russian crudes from the week ended Jan. 10. Chinese and Indian refiners are expected to...
View Article