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(Reuters) – Oil prices steadied on Friday on track for a weekly gain as Libyan output disruptions and Iraqi plans to curb production raised supply concerns, while data showing the U.S. economy grew faster than initial estimates eased recession fears. Still, signs of weakened demand, particularly in China, limited gains. Brent crude futures for October delivery …
(Reuters) – Oil prices steadied on Thursday, after two losing sessions as supply concerns over Libya returned, while a smaller-than-expected draw in U.S. crude inventories sapped demand expectations. Brent crude futures had edged up 3 cents, or 0.04%, to $78.68 a barrel by 1024 GMT, while U.S. West Texas Intermediate crude futures were up 15 …
Oil Steady as Libyan Supply Woes Counter Modest U.S. Stock Draw Read More »
Crude inventories fell by 846,000 barrels to 425.2 million barrels in the week ended August 23, the Energy Information Administration (EIA) said on Wednesday, compared with analysts’ expectations in a Reuters poll for a 2.3 million-barrel draw. Crude stocks at the Cushing, Oklahoma, delivery hub fell by 668,000 barrels in the week, the EIA said. …
Crude and Gasoline Stocks fall, Distillates Rise, EIA Data Shows Read More »
Top U.S. oil company Exxon Mobil is looking to sell oil assets in the U.S. Permian Basin that could fetch $1 billion, Bloomberg Law reported on Tuesday. Exxon, which purchased Pioneer Natural Resources for $60 billion in May, wants to sell a collection of conventional oil and gas properties in the Permian across west Texas …
Exxon Looks to Sell Non-Core Oil Assets in the U.S. Permian Basin Read More »
Global oil markets continue to flash warning lights as OPEC+ prepares to decide on reviving production. This week, Goldman Sachs Group Inc. and Morgan Stanley cut forecasts for crude prices amid a faltering demand outlook in China and plentiful production from across the Americas. Even more ominous for bullish investors is how calmly the market shrugged off …
Oil Market Warnings Grow as OPEC+ Decision Nears Read More »
Summary Tech giants are acquiring energy assets from bitcoin miners Data centers could use up to 9% of US electricity by decade’s end, EPRI says Bitcoin miners face challenges repurposing for AI due to high costs and infrastructure needs Aug 28 – U.S. technology companies are pursuing energy assets held by bitcoin miners as they …
AI’s Race for U.S. Energy Butts Up Against Bitcoin Mining Read More »
(Reuters) – Jobs in the U.S. clean energy industry in 2023 grew at more than double the rate of the country’s overall jobs, and unionization in clean energy surpassed for the first time the rate in the wider energy industry, the Energy Department said on Wednesday. Employment in clean energy businesses – including wind, solar, …
U.S. Clean Energy Jobs Growth Rate Double That of Overall Jobs, Report Says Read More »
Summary Company is working with partner Ithaca to develop Rosebank field Labour has said it will hike windfall tax by 3 percentage points STAVANGER, Norway, Aug 28 (Reuters) – Norway’s Equinor may reconsider investing in oil and gas in Britain if the Labour government changes the industry’s tax regime, a top company executive told Reuters. …
Equinor May Reconsider Investing in UK Oil Sector if Tax Regine Changes Read More »
(Reuters) – The U.S. is slowly replenishing the Strategic Petroleum Reserve, buying up to 6 million barrels of oil for delivery in the first several months of next year, after the largest sale yet from the stockpile in 2022. The Energy Department said late on Monday it sought to buy about 3.6 million barrels for …
US Slowly Replenishes Strategic Petroleum Reserve into 2025 Read More »
Goldman Sachs cut its average 2025 Brent forecast and range for prices by $5 per barrel saying unexpected increases in oil inventories and slow China demand is likely to weigh on the market. The bank reduced its range for Brent prices to $70-$85 a barrel, and 2025 average Brent forecast to $77 per barrel from …
Goldman Sachs cuts 2025 average Brent forecast by $5/bbl Read More »
