Gazprom says that the US and Chinese purchases of strategic reserves may offset Russia's oil surplus.
The head of Russian oil producer Gazprom said that the U.S., China and other countries' purchases of strategic oil reserves will offset any global surplus to keep oil prices in check. The eight members, who are OPEC+ and include Russia and other producers…
Palm oil gains more than Chicago soyoil
Malaysian palm oil futures rose for the third consecutive session on Monday. They followed gains in Chicago soybean oil after the U.S. proposed increased biofuels blend volumes and elevated crude oil price. The benchmark palm-oil…
Palm gains on Chicago's crude oil and soyoil rally
Malaysian palm futures rose on Monday for the third consecutive session, following gains in Chicago soyoil, after the U.S. proposed increased biofuels blend, and supported by crude oil rally, following tensions in Middle East. By midday…
EU waits for clarity on Trump's threat to impose a 50% tariff
The European Commission has sought clarification from the United States following Donald Trump's Friday recommendation to impose a 50% tariff for EU imports starting June 1. Washington and Brussels are due to meet later. The Commission…
OPEC+ targets US shale again with output increases
Saudi Arabia and Russia, the group's leaders, are also pushing a secondary objective behind OPEC+’s plan to increase oil production and punish overproducing allies: taking on U.S. shale to win back market shares from the United States. OPEC’s last price war against U.S.
Orsted Shares Rise After Equinor Wind Project Gets Green Light
Shares of offshore wind developer Orsted rose 15% on Tuesday after the U.S. administration revoked an order to halt work on a project by peer Equinor, easing concerns over the Danish company's U.S. projects under development.Late…
As the election approaches, Australia's richest woman says she wants Trump like reforms
Gina Rinehart, a mining magnate in Australia, is calling on the country to adopt a Donald Trump-style of leadership and cut government spending while increasing defence expenditures and energy security. The country will be voting this weekend.
Spain's imports from Venezuela of oil are increasing as the US sanctions deadline approaches
Spain's crude imports from Venezuela increased by 59% in January and Februrary compared to a year ago as the deadline for a major sanctions imposed by President Donald Trump's Administration approaches. Cores, the energy and environment ministry of Spain…
Bloomberg News reports that Trump will approve Venture Global LNG exports to Louisiana from the project.
Bloomberg News reported that the U.S. administration of President Donald Trump is expected to grant Venture Global LNG conditional permission to export natural gases from a proposed Louisiana plant, which was delayed under former president Joe Biden.
Baker Hughes, CERAWEEK: Oil producers are unlikely to spend more this year
Baker Hughes CEO Lorenzo Simonelli stated on Monday that U.S. producers of oil and gas are unlikely to increase their spending this year. Instead, the output will be boosted by improved efficiency rather than through new drilling. The U.S.
Venture Global rises after brokerages begin coverage with bullish rating
Venture Global shares reached a weekly peak on February 18th, after several brokerages began coverage of the company with bullish ratings despite its dull market debut in January. Venture Global shares rose 5.8% to $16.87. On January 24…
Lavrov and Rubio discuss removal of 'barriers,' set up by the previous U.S. Administration, Russia claims
In a Saturday phone call, Russian Foreign Minister Sergei Lavrov spoke with U.S. State Secretary Marco Rubio about the situation in Ukraine as well as the "unilateral obstacles" that were set up by the previous U.S. Administration.
Oil Dips on Larger US Crude Draw, Russia Sanctions
Oil prices fell back slightly on Thursday, a day after settling at multi-month highs on U.S. President Joe Biden's latest sanctions targeting Russia and a larger than forecast fall in U.S. crude stocks.Brent crude futures were down 12 cents…
As Biden's term ends, the US introduces a methane tax on gas and oil emitters.
The U.S. administration of President Joe Biden finalized on Tuesday a fee for large oil and gas companies to reduce emissions of this powerful greenhouse gas. However, the incoming Trump presidency is likely to scrap the fee. The…
Oil drops as US storm threat subsides, China's stimulus disappoints
The oil prices continued to fall on Monday, as investors disappointed by China's stimulus program and the threat of disruptions in supply from a storm in the United States. Oil prices continued to fall on Monday as the threat of a supply disruption from a U.S.
OPEC+ Sees No Need to Meet US Call for More Supply
OPEC and its allies, including Russia, believe oil markets do not need more oil than they plan to release in the coming months, despite U.S. pressure to add supplies to check an oil price rise, four sources told Reuters.The price…
Oil Steady as Inventory Drop vies with Trade Concerns
Oil prices fell on Wednesday as worries over a possible delay in resolving the U.S.-China trade war which has hurt global oil demand competed with a drop in U.S. crude inventories which buoyed prices.Brent crude was up 4 cents, or 0.06%, at $61.63 a barrel by 0906 GMT. U.S.
Tellurian Clears Hurdle for LNG Export
Texas-based natural gas company Tellurian has announced that the US Department of Energy (DOE) Office of Fossil Energy has issued the long-term authorisation for Driftwood LNG to export domestically produced LNG from its proposed…
Oil Falls on Slowing Chinese Demand, US-China Trade Spat
Oil prices fell on Wednesday after Chinese import data showed a slowdown in demand and as a trade dispute between Washington and Beijing escalated further.U.S. crude futures fell more than $1 per barrel to $68.13 after China said it was retaliating against U.S.
Oil Up as U.S. Sanctions on Iran Expected to Tighten Supply
Oil prices rose on Tuesday with revived U.S. sanctions against major crude exporter Iran expected to tighten global supply.Brent crude oil futures were up 75 cents to $74.50 per barrel at 1337 GMT and U.S. West Texas Intermediate…
