Sunday, December 22, 2024
Pandemic forces virtual safety checks for oil tankers- oil and gas 360

Pandemic forces virtual safety checks for oil tankers

Reuters LONDON – Ship assessors are resorting to virtual inspections of oil tankers to keep vessels afloat, as the coronavirus pandemic makes physical visits to check for seaworthiness tougher and a slump in fuel demand increases the need for ships as storage. Oil tankers require rigorous inspections twice a year to reduce the risk of oil spills or mechanical collapse

Oil prices climb as faith in supply cuts grows- oil and gas 360

Oil prices climb as faith in supply cuts grows

Reuters LONDON – Oil prices rose on Tuesday, supported by growing confidence that producers are following through on commitments to cut supplies and as fuel demand picks up as coronavirus lockdowns ease. Brent crude LCOc1 futures were up 0.8%, or 30 cents, at $35.83 a barrel by 1411 GMT. U.S. West Texas Intermediate (WTI) crude futures CLc1 gained 2.2%, or