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(Reuters) – Oil prices rose on Tuesday, as investors weighed the impact of tensions in the Middle East. Brent crude futures gained 77 cents, or about 0.99%, to $78.92 a barrel at 1014 GMT. The contract had lost 14 cents on Monday. U.S. West Texas Intermediate crude was up 46 cents, or 0.63%, from Friday …
(Reuters) – Shell is set to conclude nearly a century of operations in Nigerian onshore oil and gas after agreeing to sell its subsidiary there to a consortium of five mostly local companies for up to $2.4 billion. The British energy giant pioneered Nigeria’s oil and gas business beginning in the 1930s. It has struggled …
Shell to Exit Nigeria’s Troubled Onshore Oil After Nearly a Century Read More »
North Dakota oil production has fallen by 400,000 to 425,000 barrels per day and gas output is down 1.0 billion to 1.1 billion cubic feet per day on extreme cold and related operational issues, the North Dakota Pipeline Authority estimated on Monday. Canadian gas continued to flow to the U.S. midcontinent through the Northern Border …
North Dakota Oil Output Drops up to 425,000 Bpd on Freezing Weather Read More »
At least six further oil tankers have either diverted their course away from, or paused before entering the southern Red Sea since the weekend, ship tracking data from LSEG and Kpler show. That takes the total number of shipping disruptions counted by Reuters to at least fifteen in total since the U.S.-led strikes on Houthi …
More Oil Tankers shun Southern Red Sea After U.S.-led Strikes in Yemen Read More »
Reuters North Dakota oil production has fallen by an estimated 250,000 to 280,000 barrels per day due to freezing weather, while natural gas output in the state declined by 700 million to 800 million cubic feet per day, the North Dakota Pipeline Authority estimated on Sunday.An Arctic blast is blanketing much of the United States, …
North Dakota Oil Output Off by up to 280,000 Bpd Due to Cold Weather Read More »
(Reuters) – Oil prices lost more than 1% on Monday as the Middle East conflict’s limited impact on crude output prompted profit taking after oil benchmarks gained 2% last week. Brent crude futures were down $1.14, or about 1.5%, at $77.15 a barrel by 1250 GMT and U.S. West Texas Intermediate crude lost $1.15, or …
Oil Drops More Than 1% Despite Middle East Conflict Read More »
(Reuters) – U.S. President Joe Biden said he was concerned about the impact of war in the Middle East on oil prices, which rose on Friday after the U.S. and Britain launched dozens of air strikes across Yemen on Houthi targets. WHY IT’S IMPORTANT Oil rose 1% on Friday as an increasing number of oil tankers diverted …
Biden Cites Concern of Impact of War in Middle East on Oil Prices Read More »
Oil prices jump as US, UK strike Houthi targets Summary Some tanker companies halt ships heading to Red Sea China buys record levels of crude oil in 2023 U.S. oil rigs fall by two this week – Baker Hughes Benchmarks close lower for the week HOUSTON, Jan 12 (Reuters) – Oil rose 1% on Friday …
Oil Climbs 1% as Tankers Avoid Red Sea After Strikes on Houthis Read More »
By John Kemp (Reuters) – Global consumption of petroleum and other liquids hit a record high last year and is forecast to increase further in both 2024 and 2025, but that does not necessarily mean prices must rise to ensure demand is met. Worldwide consumption averaged 101.1 million barrels per day (b/d) in 2023, narrowly beating …
Oil Consumption and Prices Revert to Trend – John Kemp Read More »
(Reuters) – The Canada Energy Regulator (CER) on Friday approved a request for a change in construction for the final stretch of the Trans Mountain oil pipeline expansion project, clearing the path for its completion early this year. The C$30.9-billion ($23.05 billion) expansion will nearly triple the flow of crude on Trans Mountain from Alberta …
DONE DEAL! Canadian Trans Mountain Oil Pipeline Change Approved by Canadian Regulator Read More »
