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The differential of Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) narrowed slightly on Tuesday. * WCS for April delivery in Hardisty, Alberta began and ended the trading session at $15.10 per barrel under WTI, according to brokerage CalRock. On Monday, WCS had traded between $15.15 and $15.30 …
The United States is trying to help India negotiate lower prices for Russian oil as it deepens sanctions on tankers carrying the petroleum above Western price caps, President Joe Biden’s energy envoy said on Tuesday. Washington imposed sanctions late last month on Russia’s leading tanker group Sovcomflot on the two-year anniversary of Moscow’s full scale …
U.S. Trying to Help India Get Lower Prices for Russian Oil, Biden Envoy Says Read More »
The U.S. Energy Information Administration (EIA) on Tuesday raised its forecast for U.S. domestic oil growth in 2024 by 90,000 barrels, but lowered its forecast for global oil production growth due to production cuts from OPEC+. U.S. crude oil production will rise by 260,000 barrels per day (bpd) to 13.19 million bpd this year, the …
U.S. Raises Crude Production Growth Forecast for 2024 Read More »
(Reuters Breakingviews) – Gas producer EQT’s old management weathered an activist investor outcry, squeaked through an expensive deal, and spun off its pipeline division – only to be ejected by the executives they bought out. Now, new management is putting the pieces back together, on Monday striking a merger with that spinoff, Equitrans Midstream. It’s a sign …
Anatomy of the Deal: A $35 Bln Gas Reunion Tracks a Topsy-Turvy Market Read More »
Summary Ukraine drone strikes start fire at Lukoil’s NORSI refinery IEA expects oil demand to grow to record high China oil purchases continue recent downturn LONDON, March 12 (Reuters) – Oil prices rose in Tuesday trade as tensions in the Middle East continued to spur concern, but gains were capped by bearish demand sentiment ahead …
(Reuters) – Britain is proposing to build new gas plants to improve energy security and risks facing blackouts without them, the government said on Tuesday. As part of efforts to meet climate targets and boost energy security, Britain is seeking to increase its nuclear and wind power capacity but said new gas plants will also …
Britain Says New Gas Plants Needed to Keep the Lights On Read More »
Summary Reuters analysed 16 years of monthly reports Gap between the two represents 1% world demand Analyst consensus closer to IEA But analysts agree with OPEC peak demand far off LONDON, March 11 (Reuters) – Producer group OPEC and the International Energy Agency, the world’s most closely watched forecasters of oil demand growth, are further …
OPEC, IEA at Most Divided on Oil Demand Since at Least 2008 Read More »
U.S. natural gas futures slid about 2% to a fresh one-week low on forecasts for milder weather and lower heating demand over the next two weeks than previously expected. Another factor weighing on prices in recent weeks has been the low amount of gas flowing to liquefied natural gas (LNG) export plants due to ongoing …
US Natgas Prices Slide 2% to Fresh One-Week Low on Milder Forecasts Read More »
The U.S. energy sector has entered a new phase of consolidation as the industry went on a $250-billion buying spree in 2023, and experts see more transactions on the horizon. Dealmaking is on the rise as oil and gas producers are looking to improve longevity of inventories at low cost, and focus on cash that …
(Reuters) – Shell’s veteran head of liquefied natural gas (LNG), natural gas and power trading Steve Hill is leaving the company, Shell said on Monday. Hill chose to leave, Shell said, adding he would hand over his responsibilities and his successor would be announced in the coming weeks. He will step down on March 28. Hill …
Shell’s LNG, Gas and Power Trading Boss Hill to Move On Read More »
