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(Reuters) – Oil prices rose in Asian trading on Monday on concerns over tighter global supply brought about by escalating conflicts in the Middle East and between Russia and Ukraine, while a shrinking U.S. rig count added to upward price pressure. Brent crude futures climbed 39 cents, or 0.5%, to $85.82 a barrel at 0759 …
Oil Rises as Heightened Geopolitical Risks Exacerbate Supply Concerns Read More »
The outlook was robust at CERAWeek, and that may have profound implications for the energy transition. If you’re looking for a word to sum up this year’s CERAWeek by S&P Global, try this one: demand. Whether they were discussing oil, gas, power or renewables, speakers at the giant Houston talkfest were optimistic about consumption. Any …
From AI to Oil, Demand Dominates the Talk in Houston – CERAWeek Key Takeaways Read More »
Summary US says talks in Qatar could reach Gaza ceasefire agreement Russia attacks Ukrainian energy infrastructure overnight Speculators raise U.S. crude oil net longs-CFTC US oil rig counts falls by one to 509 this week, Baker Hughes says (Reuters) – Oil prices slipped on Friday and were flat on the week as the possibility of …
Oil Prices Down on Gaza Ceasefire Talks, Flat on the Week Read More »
By Irina Slav More From Irina Slav “Any source of energy is intermittent, but renewables are perhaps the least intermittent, since they use the sun and wind. The crucial missing piece of renewables is the lack of infrastructure.” This profound revelation comes from the head of the International Renewable Energy Agency, Francesco La Camera, and should be …
COMMENTARY: Obscene Misinformation Continues to Come From the IEA – Irina Slav on Energy Read More »
U.S. energy firms this week cut the number of natural gas rigs operating to the lowest level since January 2022, energy services firm Baker Hughes said in its closely followed report on Friday. The combined oil and gas rig count, an early indicator of future output, fell by five to 624 in the week to …
U.S. Gas Rig Count Falls to Lowest Since January 2022 – Baker Hughes Read More »
(Reuters) – Pipeline operator Summit Midstream Partners said on Friday it would sell its Utica assets to a unit of midstream energy company MPLX LP for about $625 million in cash. The Marcellus and Utica shale, spread across Pennsylvania, West Virginia and Ohio, are among the regions where U.S. drillers have been cutting the number of gas …
Summit Midstream Partners to Sell Utica Assets to MPLX for $625 Mln Read More »
(Reuters) – A Ukrainian deputy prime minister said on Friday Russian oil refineries were legitimate targets for its forces, after a media report said the United States, a close ally, had asked Kyiv to stop conducting drone strikes on refineries. Ukraine dramatically stepped up its attacks on Russian energy facilities this month, launching numerous long-range drones to …
Ukraine Says Russian Oil Refineries Are Legitimate Targets Read More »
Global oil consumption is outpacing expectations this year Oil executives gathered in Houston confident on demand outlook The world is using more oil than ever and demand is outpacing expectations again this year, raising questions about how soon global consumption will peak. The unabated thirst for crude contributed to an increasingly confident tone from executives …
CERAWeek: Oil Demand Outpaces Expectations, Testing Calculus on Peak Crude Read More »
By John Kemp LONDON, March 21 (Reuters) – Global petroleum inventories are only slightly below the long-term seasonal average but futures prices have already moved into a steep backwardation as traders anticipate they will deplete further over the rest of 2024. OECD commercial inventories of crude oil and refined products are estimated to have been around …
Oil Traders Expect Stocks to Fall Significantly after OPEC Extends Cuts Read More »
Last segment goes through hard rock in rugged B.C. terrain Bloomberg News The startup date for Canada’s mega oil pipeline should be known within weeks as Trans Mountain Corp. drills through hard rock in British Columbia’s rugged Fraser Valley for the final stretch of the 1,150-kilometre conduit. “The next few weeks will be very important in terms …
Canada’s Trans Mountain Expansion Startup Date Hangs on Final 2.5-Km Leg Read More »
