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Barclays Cuts 2025 Brent Crude Forecast on Trade Tensions, OPEC+ Shifts

(Reuters) – Barclays lowered its Brent crude forecast on Monday by $4 to $70 a barrel for 2025 and set its 2026 estimate at $62/b, citing “a rocky road ahead for fundamentals” amid escalating trade tensions and OPEC+’s pivot in its production strategy. Despite oil market fundamentals evolving “significantly better than expected” in early 2025, …

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Greek Shippers Return to Russian Oil Market as Prices Slip Below G7 Cap, Sources Say

MOSCOW, April 28 (Reuters) – Greek shipowners are returning to Russia’s Urals oil market as the price slides below the Western price cap of $60 per barrel, allowing them to provide transport and insurance services while complying with sanctions, three trading sources said. The price cap introduced by the Group of Seven countries does not …

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Huge Power Outage Paralyses Parts of Spain and Portugal

Power outage hits Spain, Portugal and briefly France Authorities try to establish what caused the outage Outage paralyses transport and delays flights MADRID/LISBON, April 28 (Reuters) – A huge power outage hit large parts of Spain and Portugal on Monday, paralysing traffic, grounding flights, trapping people in elevators and leaving power operators scrambling to restore …

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US LNG Supplies to Europe Will Continue to Rise, Says US Energy Secretary

U.S. Energy Secretary Chris Wright and Polish Prime Minister Donald Tusk shake hands on the day of a signing agreement related to the construction of Poland’s first nuclear power station at the Chancellery of the Prime Minister, in Warsaw, Poland, April 28, 2025. REUTERS/Kacper Pempel WARSAW, April 28 (Reuters) – U.S. liquefied natural gas supplies …

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