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(Reuters) – Oil prices are up around 16% so far this year near $90 a barrel, with supply worries high given escalating Middle East tensions and tit-for-tat attacks on energy infrastructure between Ukraine and Russia. Investors are paying attention. After all, it was an energy price surge two years ago that helped drive inflation and …
What the March Higher in Oil Means for World Markets Read More »
Half of National Petroleum Reserve-Alaska could be off-limits Companies say plan would violate leases, kill investment The US set aside 23 million acres of Alaska’s North Slope to serve as an emergency oil supply a century ago. Now, President Joe Biden is moving to block oil and gas development across roughly half of it. The initiative, set …
Biden Election Energy Politics: Biden Plans Sweeping Effort to Block Arctic Oil Drilling Read More »
(Reuters) – Prices for heavier crude oil along the U.S. Gulf Coast have climbed in recent weeks, trading at a rare near-par with lighter oil, a sign of supply tightness that could add to rising gasoline prices. Refineries along the Gulf Coast, which account for more than 55% of total U.S. refining capacity, are geared …
U.S. Gulf Coast Heavy Crude Oil Prices Firm as Supplies Tighten Read More »
By John Kemp (Reuters) – Portfolio investors are increasingly bullish about oil as Saudi Arabia and its OPEC⁺ allies restrict production in the face of rising demand and the shadow war between Israel and Iran spills into the open. Hedge funds and other money managers purchased the equivalent of 37 million barrels in the six most …
Oil Funds Turn Bullish as Mideast Conflict Intensifies Read More »
U.S. officials are open to ending President Joe Biden’s pause on approvals of liquefied natural gas exports to get a Ukraine aide package passed in Congress but want to wait to see the entire proposal before making any decisions, two White House sources said on Tuesday. Biden, a Democrat, in late January had paused approvals …
White House Open to Ending LNG Export Pause in Push for Ukraine Aid Read More »
U.S. exports of liquefied natural gas (LNG) fell slightly in March to 7.61 million metric tons (MT) from 7.73 MT in February as production of the superchilled gas from the country’s second largest exporter remained constrained, preliminary data from financial firm LSEG showed on Monday. But the U.S. was the largest exporter of LNG last …
U.S. March LNG Exports Flat as Freeport Plant Woes Continue Read More »
(Reuters) – Oil prices were steady on Monday near five-month highs as markets expect tighter supply from OPEC+ cuts and attacks on Russian refineries while upbeat Chinese manufacturing data supported an improving demand outlook. Brent crude was 10 cents lower at $86.90 a barrel by 1115 GMT after rising 2.4% last week. U.S. West Texas …
Oil Stays Near Five-Month Highs as Tighter Supply Looms Read More »
NEW YORK, March 27 (Reuters) – Fuel suppliers in Baltimore will face some trucking delays and other minor logistical issues after the collapse of a major bridge earlier this week shut the city’s port indefinitely, market participants said on Wednesday. A cargo ship smashed into the Francis Scott Key Bridge on Tuesday, causing parts of …
Baltimore Fuel Suppliers Face Logistical Challenges After Bridge Collapse Read More »
Summary Brent forecast raised to $82.33 a barrel for 2024 WTI projection lifted to $78.09 a barrel First upward revision in 2024 price forecasts since October (Reuters) – Oil prices will gain some momentum this year as demand picks up and output curbs by the OPEC+ producer group continue to squeeze supply that is already …
Firmer Oil prices Expected as Demand Builds and Supply Curbs Persist 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 »
