(Investing) – Oil prices rose Monday as more intense fighting between Russia and Ukraine raised the possibility of a disruption to supplies, although gains have been limited by concerns about fuel demand in China and the potential of a global oil surplus next year. By 09:15 ET (14.15 GMT), the U.S. crude futures traded 1.4% higher at $67.86 a barrel and the Brent contract climbed
(Oil & Gas 360) – Sudden, violent, disruptive events in the Middle East cause big oil price jumps and front-page headlines about gasoline prices – don’t they? But not lately. Like the dog that did not bark, why not? Russia, one of the world’s three largest oil producers, invaded Ukraine and started a war which has been going for 2 ½
(Oil Price) – Litasco, the international oil trading and shipping firm owned by Russian oil company Lukoil, is looking to rebuild its business in the Americas by arranging credit lines and distancing itself from Russian oil trades and its parent, sources close to Litasco have told Reuters. Litasco and Lukoil have not been sanctioned by the United States as part of the
(BOE Report) – KAZAN, Russia – Here’s a brief summary of the outcome of the BRICS summit: * XI AND MODI – Chinese President Xi Jinping and Indian Prime Minister Narendra Modi met just two days after New Delhi announced that it had reached a deal with Beijing to resolve a four-year military stand-off on their Himalayan frontier. * LOTS
(Oil Price) – More than 50 members of Congress have signed a letter calling on the U.S. government to toughen sanctions on Russian oil and questioning an exception granted to U.S.-based oil-services company Schlumberger (SLB) that has allowed it to continue operating in the country. Representatives Lloyd Doggett (Democrat-Texas) and Jake Auchincloss (Democrat-Massachusetts) said they and 50 other members of Congress sent the
World Oil (WO) – Following recent reports that the Biden Administration’s federal moratorium on new liquified natural gas (LNG) export plants is prohibiting Ukraine from purchasing American LNG, Railroad Commissioner Wayne Christian slammed the administration’s policy and called on the president to rescind the ban. “This politically motivated ban is doing more than simply costing America economic activity— it’s jeopardizing
Oil Price In a significant rebound, Russia’s oil and gas revenues for June are projected to increase by over 50% year-on-year, reaching $9.4 billion, according to new Reuters calculations. This surge comes after a reduction in refinery subsidies, highlighting Russia’s resilience in the face of Western sanctions aimed at its energy sector. The redirection of oil exports to India and
U.S. News BRUSSELS -European Union countries adopted a 14th package of sanctions on Russia that aims to close some loopholes and hits Russia’s gas exports for the first time, EU foreign ministers said on Monday. Western powers imposed sweeping sanctions on Moscow after Russia launched a full-scale invasion of Ukraine in February 2022, which have been progressively ramped up since.
Oil Price Russia became the biggest supplier of natural gas to Europe last month, for the first time since 2022, replacing the United States at the top spot. “It’s striking to see the market share of Russian gas and [liquefied natural gas] inch higher in Europe after all we have been through, and all the efforts made to decouple and
Oil Price Russia’s fuel exports by sea increased by 10.4% in May compared to April as Moscow lifted a gasoline export ban and some refineries returned from maintenance, according to Reuters estimates and data from industry sources. Last month, Russia shipped 9.595 million metric tons of oil products to international markets, as the authorities lifted on May 20 a temporary ban on gasoline exports
Yahoo Finance LONDON – Brent oil futures prices ticked higher on Friday and were on course for their best week in more than four months after projections for solid crude oil and fuel demand in 2024. Brent crude futures were up 53 cents at $83.28 a barrel at 1356 GMT. West Texas Intermediate (WTI) U.S. crude futures were up 41
Oil Price Back in March, S&P Global reported that a record 24 cargoes carrying nearly 1.6 million metric tons of U.S. LNG had reached Asia via the Cape of Good Hope in the first three months of 2024, with exporters choosing the much longer route and shunning the Panama and Suez canals due to various challenges. S&P reported that only 14 cargoes
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