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Summary Brent, WTI down 4% Israeli PM Netanyahu says willing not to strike Iran oil targets OPEC, IAE cut global oil demand growth outlook (Reuters) – Oil prices tumbled more than 4% to a near two-week low on Tuesday due to a weaker demand outlook and after a media report said Israel is willing to not strike …
Oil Plunges as Iran Supply Disruption Concerns Ease, Demand Outlook Weakens Read More »
Accident at Deer Park refinery left at least two workers dead and another 35 people injured. A fatal accident last week at a Houston-area refinery was another reminder of the risks posed by the oil industry that dominates much of the city. The vast Deer Park facility, owned by Mexico’s state-owned oil company Petroleos Mexicanos, …
Deadly Houston Fire Highlights Pemex’s Grim Safety Record Read More »
(Reuters) – OPEC on Monday cut its forecast for global oil demand growth in 2024 reflecting data received so far this year and also lowered its projection for next year, marking the producer group’s third consecutive downward revision. The Organization of the Petroleum Exporting Countries in a monthly report said world oil demand will rise …
OPEC Cuts 2024, 2025 Global Oil Demand Growth View Again Read More »
Summary Brent, WTI decline more than 2% China oil imports fall from a year ago for a fifth month in September China flags more fiscal stimulus, leaves out key details on size US to send anti-missile system and troops to Israel, markets remain on edge (Reuters) – Oil prices declined over 2% on Monday, wiping …
Oil Falls Over 2% as China Demand Woes Erase Last Week’s Gains Read More »
(Reuters) – The United States expanded sanctions against Iran’s petroleum and petrochemical sectors on Friday in response to an Iranian missile attack on Israel, the administration of President Joe Biden said. The U.S. move adds petroleum and petrochemicals to an executive order that targets key sectors of Iran’s economy with the aim of denying the government …
US Expands Sanctions to Iran’s ‘Ghost Fleet’ of Oil Tankers Read More »
Summary Companies Both benchmarks settle up 1% on the week Investors consider Israel’s response to Iran’s attack last week Hurricane aftermath to weigh on Florida fuel demand Libyan oil production restored to pre-central bank crisis levels HOUSTON, Oct 11 (Reuters) – Oil prices settled lower on Friday but rose for the second straight week as …
Oil Settles Down on Florida Fuel Demand Worries, Mideast Risk Drives Weekly Gains Read More »
Malaysia project secures $690 million Export-Import Bank loan Biden issued order to curb funding for fossil fuel projects The US Export-Import Bank authorized a $690 million loan to help help build a petrochemical plant in Malaysia, despite objections from climate activists who say the project flouts Biden-Harris administration promises to halt financing for fossil fuel projects abroad. The loan approved …
Petrochemical Plant Wins US Loan Despite Biden Climate Vow Read More »
Move comes with Israeli retaliation expected at any time Order relies on Trump-era push to choke off Iran’s economy The US broadened the scope of its sanctions on Iran’s oil and gas sectors in response to a ballistic-missile attack on Israel, ramping up economic pressure on Tehran ahead of Israeli retaliation that’s expected any day. …
US Expands Sanctions on Iran Oil Sector Over Israel Attack Read More »
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for the first time in four weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by one to 586 in the week to Oct. …
US Drillers Add Oil and Gas Rigs for First Time in Four Weeks, Baker Hughes Says Read More »
Report says settlements with tokens could save billions Russia has sought to lower reliance on dollar after sanctions Russia is proposing changes to cross-border payments conducted among BRICS countries aimed at circumventing the global financial system, as the heavily penalized country seeks to sanctions-proof its own economy. The alternatives include developing a network of commercial …
Russia Pitches BRICS Payment System Aiming to Break US Dominance Read More »
