Oil Falls on Drawn-Out Ukraine Peace Talks, All Eyes on Upcoming OPEC+ Meeting  

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

Summary CME system resumes trading after outage Brent, WTI in longest monthly losing streaks since 2023 US crude production hit monthly high in September, EIA says (Reuters) – Crude futures fell marginally on Friday as investors considered oil’s geopolitical risk premium amid drawn-out Russia-Ukraine peace talks, while keeping an eye on Sunday’s OPEC+ meeting for …

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Swelling Supply to Keep Oil Prices Under Strain in 2026

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Oil prices are projected to remain under pressure in 2026, as swelling supplies eclipse modest demand growth, while geopolitical risks could cap deeper losses, a Reuters poll showed on Friday. The survey of 35 economists and analysts forecast that Brent crude would average $62.23 per barrel in 2026, down from October’s forecast of $63.15. The …

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Canadian Prime Minister Loses Quebec Minister Guilbeault After Energy Deal

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Takeaways by Bloomberg AI Prime Minister Mark Carney lost a cabinet minister over his oil pipeline agreement with Alberta, marking the first major fracture in his Liberal Party caucus over the government’s energy policies. Steven Guilbeault resigned his position as culture minister, stating the government failed to consult Indigenous communities and the pipeline would pose significant …

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US Natural Gas Futures Rise as Trading Resumes on CME

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US natural gas futures rose as trading resumed on the Chicago Mercantile Exchange and wintry weather hits parts of the Midwest and East, with forecasts showing below-normal temperatures in the coming weeks for the Northeast and Great Lakes. Futures for January delivery +13c, or +2.9%, to $4.688/mmbtu on Nymex, as of 9:07am ET Weather: Heavy …

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Carney Signs Major Energy Agreement With Alberta, Laying Out Conditions For New Oil Pipeline

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By Rachel Aiello Prime Minister Mark Carney and Alberta Premier Danielle Smith have signed a major new energy co-operation agreement outlining the emission and other climate conditions that need to be met in order for the federal government to provide a “clear and efficient” process to approve a new oil pipeline to the Pacific under …

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Russia’s Urals Oil Price Discount Widens to 23% in November, Central Bank Says

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(Reuters) – Russia’s Urals oil price discount to global benchmark Brent widened by six percentage points this month to 23%, Russian central bank said on Thursday it its review. The discounts, though less severe than those seen after the initial wave of Western sanctions in 2022, reflect mounting pressure on Russian oil revenues – a …

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Ukraine, US Negotiators on Peace Proposals to Meet Soon, Kyiv Says

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(Reuters) – Ukraine’s and the U.S. negotiating teams will meet soon, Foreign Minister Andrii Sybiha said on Thursday, adding that Kyiv would focus on specific steps in peace proposals. “Our expectations are concrete results. Concrete results so that progress can be made,” Sybiha told a news briefing. “It is extremely important for us, and Ukraine …

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Western Sanctions on Russia, Iran Energy Trade

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(Reuters) – The European Union, Britain and the U.S. have imposed a raft of sanctions against Russia over its war in Ukraine. In October, the U.S. targeted Russia’s two top oil producers, Rosneft and Lukoil. Below is a timeline of key Western sanctions imposed since August 2024: 2024: August 23 – The U.S. imposed sanctions …

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Oil Steadies as Investors Await Peace Talk Direction

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

Summary Markets pricing in possibility of Russia-Ukraine peace plan Thin trade likely due to US holiday OPEC+ set to keep output unchaned at Sunday meet, sources say (Reuters) – Oil prices steadied on Thursday as market participants weighed talks to end the war in Ukraine against the impact of Western sanctions against Russian supply, though …

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US Drillers Cut Oil Rigs to Lowest in Four Years, Baker Hughes Says

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(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in four weeks, with oil rigs dropping to a four-year low, energy services firm Baker Hughes said in its closely followed report on Wednesday. The oil and gas rig count, an early indicator of …

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