Investing NEW YORK – Oil settled over $80 a barrel on Tuesday and recorded its biggest daily gains in over a month, as investors bought up risk assets after U.S. data pointed to slowing inflation. The market was also buoyed by concerns about supply disruptions, including the ongoing shutdown of the Canada-to-United States Keystone crude pipeline following a massive
Oil Price Last week, the chief energy adviser to the Biden administration, Amos Hochstein, blamed institutional investors for the stalled drilling in the U.S. oil and gas industry and called it outrageous and un-American. Indeed, large investors, most of them from the financial services industry, have been one reason for U.S. oil companies’ rearrangement of priorities from grow at all costs
Nasdaq For the energy industry, 2022 will be remembered as the year Russia’s invasion of Ukraine accelerated a global energy crisis. The invasion, and subsequent Western sanctions, heaped new pressures on oil and gas supplies already strained from the rapid economic rebound from the pandemic. The world’s top energy companies beat a hasty retreat from Russia and wrote off tens of
Oil Price Trade and supply chain barriers continue to slow progress in U.S. solar power expansion, despite the Inflation Reduction Act (IRA) which was designed to boost clean energy capacity rollouts, a quarterly report by the Solar Energy Industries Association (SEIA) and Wood Mackenzie showed on Tuesday. The United States added 4.6 gigawatts (GW) of new solar capacity in the third
Dec. 13 (UPI) — Global demand for crude oil is not expected to change much by next year given …
Oil Price Global oil demand growth is expected at 2.5 million barrels per day (bpd) this year and 2.2 million bpd next year, OPEC said on Tuesday, leaving the previous month’s estimates unchanged, on hopes of easing of Covid curbs in China. World oil demand growth in 2022 is expected to remain at 2.5 million bpd, with total demand averaging
BOE Report Oil extended gains on Tuesday as a key pipeline bringing the resource to the United States remained shut, adding to concerns about potential tight supply in the world’s biggest crude consumer. U.S. West Texas Intermediate (WTI) crude futures gained $1.40, or 1.90%, to $74.65. Brent crude futures rose $1.59, or 2.04%, to $79.65 per barrel. Both benchmarks
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