(Investing)– NEW YORK – Oil prices edged up about 1% to a three-week high on Friday on expectations additional sanctions on Russia and Iran could tighten supplies, while lower interest rates in Europe and the U.S. could boost demand for the fuel. Brent futures rose 67 cents, or 0.9%, to $74.08 a barrel by 10:55 a.m. EST (1555 GMT). U.S. West Texas
(Oil Price) – Russia’s state oil firm Rosneft has agreed to supply nearly 500,000 barrels per day (bpd) of crude to India’s Reliance Industries in the biggest oil supply deal between the two countries, Reuters reported on Thursday. The 10-year agreement is worth roughly $13 billion a year at current prices. Under the deal, Rosneft will deliver 20-21 Aframax-sized cargoes (80,000 to 100,000 metric tons)
(Investing) – LONDON -Oil prices steadied on Tuesday as the restart of production at Norway’s Johan Sverdrup oilfield offset investor concerns about an escalation in the Russia-Ukraine war. Equinor resumed partial production from the North Sea oilfield, Western Europe’s largest, after a power outage there helped lift oil prices by over 3% on Monday. Brent crude futures were down 12 cents, or
(Oil Price) – Global natural gas demand rose by 6.1 billion cubic meters (bcm) in September from a year earlier, and inventories jumped to a record high, the Joint Organizations Data Initiative (JODI) said in its monthly oil and gas overview on Monday. Worldwide natural gas production also rose year-over-year by 7.65 bcm in September, according to the latest data after 52 countries
(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
(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
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