US crude stocks fall, gasoline and distillate inventories rise, EIA says
U.S. crude oil stockpiles fell unexpectedly last week, while gasoline and distillate inventories posted surprise builds, the Energy Information Administration (EIA) said on Wednesday. Crude inventories...
View ArticleOil market uncertainty could significantly affect prices
Wood Mackenzie projects that Brent crude oil prices will average $73.00 per barrel (bbl) in 2025, according to its latest market outlook. The forecast considers various geopolitical and economic...
View ArticleOil holds at two-month low amid rising US fuel inventories, Russia-Ukraine talks
Oil prices held at two-month lows on Wednesday as a surprise build in U.S. fuel stockpiles signalled demand weakness and a potential peace deal between Russia and Ukraine continued to weigh on prices....
View ArticleBP cuts renewable investment and boosts oil and gas in strategy shift
BP BP. slashed planned investment in renewable energy and said on Wednesday it would increase annual oil and gas spending to $10 billion, in a major strategy shift aimed at boosting earnings and...
View ArticleOil supported by supply concerns
Brent crude was up 0.6% at USD 75.2/bbl on Tuesday, with the US Treasury Department targeting more than 30 brokers, tanker operators, and shipping companies for their role in selling and transporting...
View ArticleUS marketers struggle to secure gas storage as LNG demand extends contract terms
Booming demand from US LNG terminals is driving up prices and contract lengths for natural gas storage, squeezing out marketers. In the first storage “supercycle,” demand came from “from marketers and...
View ArticleEU seeks to ‘immediately engage’ with LNG suppliers, draft shows
The European Union will consider investing in liquefied natural gas (LNG) projects abroad as part of plans to “immediately engage” with reliable suppliers to try to lower energy prices, a draft...
View ArticleThe Energy Transition Needs a Reality Check
The energy transition will be more difficult, costly, and complicated than expected, according to a new article by Daniel Yergin, Vice Chairman, S&P Global; Peter Orszag, CEO and Chairman, Lazard;...
View ArticleThe Commodities Feed: European gas sell-off continues
Energy – TTF sell-off continues Oil prices continued to trend lower yesterday amid uncertainty over the outlook for tariffs, a dynamic overshadowing sanction risks. After imposing additional sanctions...
View ArticleOil inches up after Trump cancels Chevron’s Venezuela license
Oil prices edged up on Thursday after sliding in the previous two sessions, with supply worries resurfacing after U.S. President Donald Trump announced a reversal of a license given to Chevron to...
View ArticleMiddle East Crude-Dubai and Murban rise, Oman slips
Middle East crude benchmark spot premiums of Dubai and Murban rose on Thursday, while that of Oman declined. Oil prices gained on Thursday after sliding in the previous two sessions, with supply...
View ArticleEni’s quarterly profit falls 46% but disposals help cut key debt ratio
Italian energy group Eni ENI reported a 46% slide in fourth-quarter adjusted net profit on Thursday, hit by lower energy prices and weakness at its refining, biofuel and chemicals divisions. Adjusted...
View ArticleOil climbs after Trump cancels Chevron’s Venezuela licence
Oil prices rose 2% on Thursday as supply concerns resurfaced after U.S. President Donald Trump revoked a licence granted to U.S. oil major Chevron (CVX.N), to operate in Venezuela. Gains were capped,...
View ArticleThree years on, Russia-Ukraine war still hangs over gas market
Three years since Russia launched its full-scale invasion of Ukraine, the future of Russian gas in Europe still hangs very much in the balance despite concerted efforts led by Brussels to phase out...
View ArticleOil set for first monthly drop since November on economic doubts
Oil prices eased on Friday as they headed for their first monthly drop since November, dragged lower by uncertainty over global economic growth and fuel demand given Washington’s tariff threats and...
View ArticleMiddle East Crude-Benchmarks post monthly decline, Saudi OSP in focus
Middle East crude benchmarks Oman, Dubai and Murban recorded a loss for this month, after surging to multi-year highs in January. Following the downward movement, market participants anticipated a...
View ArticleSanctions, tariffs make OPEC+ hesitant on April oil hike, sources say
OPEC+ is debating whether to raise oil output in April as planned or freeze it as its members struggle to read the global supply picture because of fresh U.S. sanctions on Venezuela, Iran and Russia,...
View ArticleUS crude oil production rose to record high in December, says EIA
U.S. crude oil production rose to a record 13.491 million barrels per day in December, up from 13.314 million bpd in November and the prior all-time high of 13.436 million in October, the U.S. Energy...
View ArticlePemex to bring suspended drilling rigs back online by H2 2025: management
Mexico’s Pemex plans to bring suspended rigs back into operation by the end of 2025 to normalize its crude oil and natural gas production, management said Feb. 27. Mexico’s state oil and gas company...
View ArticleUS drillers add oil and gas rigs for fifth week in a row, Baker Hughes says
U.S. energy firms this week added oil and natural gas rigs for a fifth week in a row for the first time since May 2022, energy services firm Baker Hughes (BKR) said in its closely followed report on...
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