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U.S. crude, gasoline and distillate inventories rose in the week ending April 5, the Energy Information Administration said on Wednesday. Crude inventories rose by 5.8 million barrels to 457.3 million barrels in the week ended April 5, the EIA said, compared with analysts’ expectations in a Reuters poll for a 2.4 million-barrel rise. Crude stocks …
U.S. Crude Stocks, Gasoline and Distillate Inventories Rise – EIA Read More »
Criticizes White House freeze on LNG approvals in annual letter to shareholders Bloomberg News Jamie Dimon said U.S. delays of liquefied natural gas projects were done for political reasons to pacify those who believe oil and gas projects should simply be stopped — a position he calls “wrong” and “enormously naïve.” The head of JPMorgan …
(Reuters) – Oil prices rose on Wednesday after two days of losses as a deadlock in Gaza ceasefire talks renewed uncertainty about the security of supply from the Middle East and offset a bigger-than-expected build in U.S. crude inventories. Brent crude futures were up 30 cents, or 0.3%, at $89.72 per barrel at 1010 GMT, …
Oil Rises as Middle East Worries Offset U.S. Crude Stock Build Read More »
China and India remained the top destinations for Russian seaborne fuel oil and vacuum gasoil (VGO) exports in February, with both countries continuing to buy the fuels to partially replace crude oil, traders said and LSEG data showed. Since the European Union’s full embargo on Russian oil products went into effect in February 2023, the …
China, India Top buyers of Russian Seaborne Fuel Oil, VGO in Feb, LSEG Data Shows Read More »
Morgan Stanley has raised its Brent crude oil price forecast for the third quarter of this year by $4 per barrel to $94, citing geopolitical risks. “That the degree of geopolitical risk in key oil producing regions has increased recently seems clear and uncontroversial,” the bank said in a note dated Monday. Brent futures rose …
Morgan Stanley Lifts Q3 Brent Crude Oil Forecast on Geopolitical Risk Read More »
The amount of natural gas flowing to Freeport LNG’s liquefied natural gas (LNG) export plant in Texas was on track to rise for a second day in a row on Tuesday, according to data from financial firm LSEG. Energy traders said gas futures were trading about 2% higher so far on Tuesday on the possibility …
U.S. Natgas Flows to Texas Freeport LNG Export Plant Seen up on Tuesday Read More »
Prices could rise to a level that will constrain demand OPEC regained control of the market, says Sebastian Barrack Bloomberg Global oil markets are on track to be “extremely tight” in the second half, with prices rising to a level that will eventually constrain demand if OPEC doesn’t bring back more supply, said the head …
Oil Market to Get ‘Extremely Tight’ in Second Half, Citadel Says Read More »
Intensifies fears of commodity-driven inflation resurgence Bloomberg News When oil prices jumped above US$90 a barrel just days ago, military tensions between Israel and Iran were the immediate trigger. But the rally’s foundations went deeper — to global supply shocks that are intensifying fears of a commodity-driven inflation resurgence. A recent move by Mexico to slash its …
Odds of $100 Oil Rise as Supply Shocks Convulse the Market Read More »
LITTLETON, Colorado, April 9 (Reuters) – Utilities in the United States are on track to cut the share of coal in national power generation to record lows over the coming months, as the heating demand season ends and output from clean power sources such as solar and wind farms hits record highs. During the first …
U.S. Power System Set to Cut Coal Use to Record Lows Read More »
(Reuters) – Prices for heavier crude oil along the U.S. Gulf Coast have climbed in recent weeks, trading at a rare near-par with lighter oil, a sign of supply tightness that could add to rising gasoline prices. Refineries along the Gulf Coast, which account for more than 55% of total U.S. refining capacity, are geared …
U.S. Gulf Coast Heavy Crude Oil Prices Firm as Supplies Tighten Read More »
