(Investing) – HOUSTON/LONDON – The discount on U.S. crude futures to the global benchmark Brent has grown by around $1 per barrel since the U.S. ousted Venezuelan President Nicolas Maduro on January 3 and took control of the South American country’s oil flows, redirecting millions of those barrels to U.S. ports in a move likely to boost U.S. crude exports in the
(Oil Price) – Russia on Tuesday asserted ownership of all oil assets a state Russian company is developing in Venezuela, following the claims of U.S. President Donald Trump that major American and Western oil firms would help revive Venezuela’s oil industry. Russia’s Roszarubezhneft, a state-owned firm that took over Rosneft assets in 2020 following U.S. sanctions on Rosneft’s Venezuelan oil trade, said on
(BOE Report) – Venezuela’s state oil company has begun reopening some of the wells it and its joint venture partners had shut amid a strict U.S. embargo, as crude exports resume with two shipments departed on Monday, three sources close to operations said. The OPEC country’s oil exports had remained almost at a standstill since December, with only U.S. Chevron exporting crude from
(Investing) – Oil prices rose further Tuesday, gaining for a fourth consecutive session on elevated supply disruption risks following significant anti-government protests in Iran. At 08:05 ET (13:05 GMT), Brent Oil Futures expiring in March rose 2% to $65.15 per barrel, and West Texas Intermediate (WTI) crude futures gained 2.4% to $60.75 per barrel. Brent contract reached over a seven-week high
(World Oil) – President Donald Trump signaled he’s leaning toward excluding ExxonMobil from his push for U.S. oil majors to rebuild Venezuela’s petroleum industry, saying he was displeased with the company’s response to his initiative. “I’d probably be inclined to keep Exxon out,” Trump told reporters late Sunday aboard the presidential plane on the way back to Washington from his
(BOE Report) – If record-high U.S. stock prices accurately reflect investors’ assessment of the first year of Trump 2.0, then it’s a glowing scorecard for the most interventionist government in decades. It’s yet another example of the topsy-turvy economic world where the global norms and orthodoxies of the last 40 years are being questioned and sometimes discarded by the U.S.
(Oil Price) – Azerbaijan, a key natural gas supplier to Europe, raised its production by 2.4% in 2025 from the previous year, the Azeri Ministry of Energy said on Monday. Azerbaijan produced 51.5 billion cubic meters (bcm) of natural gas last year, up by 1.2 bcm, or 2.4%, compared to 2024, according to the ministry’s data cited by the Azerbaijan State News Agency
(BOE Report) – Global oil trading houses have emerged as early winners in the race to control Venezuelan crude flows, getting ahead of U.S. energy majors wary of credit and legal risks and securing a potentially lucrative business opportunity in the country with the world’s largest crude reserves. U.S. President Donald Trump said U.S. majors would invest billions of dollars
(World Oil) – Ukraine overnight targeted three drilling platforms in the Caspian Sea owned by Russian oil major Lukoil in the latest move to weaken Russia’s economic capacity to fund its war effort. The platforms, V. Filanovsky, Yuri Korchagin, and Valery Grayfe, sustained direct hits, the General Staff of the Armed Forces of Ukraine said on its Telegram channel. The
(Investing) – LONDON – Oil prices fell slightly on Monday after Iran said it had total control following the biggest anti-government demonstrations in years, easing some concerns over supply, while investors also weighed efforts to resume oil exports from Venezuela. Brent crude futures lost 28 cents, or 0.44%, to $63.06 a barrel by 1402 GMT while U.S. West Texas Intermediate crude was
(Investing) – HOUSTON – U.S. oil producers already reeling from low oil prices are facing renewed pressures, as President Donald Trump pushes them to boost output in Venezuela – a move that would weaken the oil market, cut revenues and hurt industry at home. Trump has enacted policies that he says would unleash American energy and lower prices at the pump
(World Oil) – The Trump administration is unlikely to provide financial support to help U.S. oil companies revitalize Venezuela’s oil sector, Interior Secretary Doug Burgum said Friday, throwing cold water on hopes the multibillion-dollar effort would be subsidized by the U.S. government. “The capital is going to come from the capital markets and come from the energy companies,” Burgum, who
