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Summary Number of Western sanctions surges following Russia’s invasion of Ukraine Russian crude has traded above G7 price cap for most of the time China imports LNG from sanctioned Russian plant for first time in August (Reuters) – The complex web of Western sanctions targeting Russia’s oil and gas industry has failed to impede Moscow’s …
West Hits ‘Peak Sanctions’ on Russia’s Energy Sector Read More »
A summer trading lull looks set to come to a halt with September risks stacking up hard and fast. U.S. President Donald Trump’s decision to fire Federal Reserve Governor Lisa Cook and French political turmoil provide a glimpse of what’s to come in a month that historically brings notable market swings as investors reassess portfolios. …
BACK TO SCHOOL: US Markets Brace for September Risks Read More »
Russian President Vladimir Putin, after talking with China’s Xi Jinping and India’s Narendra Modi, said on Monday the issue of NATO’s eastward enlargement would have to be addressed for there to be sustainable peace in Ukraine. Putin ordered tens of thousands of troops to invade Ukraine in February 2022 after eight years of fighting in …
India is not “profiteering” from Russian oil imports and its purchases have stabilised markets while keeping prices from rising to as much as $200 a barrel, Hardeep Singh Puri, country’s oil minister, said in the Hindu newspaper on Monday. The U.S. has targeted India for its Russian oil purchases, with President Donald Trump imposing tariffs …
Indian Oil Minister Denies Country is Profiteering From Russian Imports Read More »
Summary Ukraine’s attacks force Russia to shut 17% of oil-processing capacity Bets on Federal Reserve rate cut buoy oil demand outlook US market reopens on Tuesday following Labour Day break (Reuters) – Oil prices rose almost 2% on Tuesday as concerns about supply disruptions grew amid an escalation of the conflict between Russia and Ukraine, …
Oil Prices Climb Amid Russia-Ukraine Tensions, Await OPEC Meeting Read More »
On the eve of a visit to China, Russian leader Vladimir Putin blasted Western sanctions as his country’s economy teetered on the brink of recession, wounded by trade curbs and the cost of his war in Ukraine. Russia and China jointly opposed “discriminatory” sanctions in global trade, Putin said in a written interview with China’s …
Putin Lambasts Trade Sanctions on Eve of Visit to China Read More »
California’s Energy Commission voted on Friday to temporarily set aside penalties for excessive refining profits that were adopted after gasoline pump prices climbed over $8 a gallon in 2022. The five-year delay in implementing the penalties comes as Phillips 66’s Los Angeles refinery is preparing to begin shutting production as early as next week ahead …
California Sets Aside Penalties for High Refinery Profits Read More »
By Erwin Seba OPEC+ supply increase expected to arrive in autumn Lackluster US demand expected as summer driving season ends Uncertainty over Russian supply impacts market sentiment Russian oil exports to India set to rise despite US pressure HOUSTON, Aug 29 (Reuters) – Oil prices fell on Friday as traders looked toward weaker demand in …
Oil Prices Fall With Expected Low Demand, Upcoming Supply Boost Read More »
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row, 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, fell by two to 536 in the …
US Drillers Cut Oil and Gas Rigs for Second Week in a Row, Baker Hughes Says Read More »
Summary Quick Russia-Ukraine ceasefire deal very unlikely, analysts say Global oil demand seen growing between 0.5-1.1 mbpd in 2025 (Reuters) – Oil prices are unlikely to gain much traction from current levels this year as rising output from top producers adds to the risk of a surplus and U.S. tariff threats curb demand growth, a …
Oil Faces Uphill Struggle as Supply Glut Worries Mount Read More »
