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(Reuters) – Brent oil futures held steady on Thursday, bolstered by signs of stronger demand in the U.S. after slower than expected inflation in April and lower oil stocks in the past week. Brent crude futures were up 4 cents, or 0.05%, at $82.79 a barrel by 1120 GMT. U.S. West Texas Intermediate crude (WTI) …
Oil Prices Stabilize After U.S. Stock Drop and Slower Inflation Read More »
(Reuters) – President Joe Biden is hiking tariffs on $18 billion in Chinese goods including electric vehicles, batteries, semiconductors, steel, aluminum, critical minerals, solar cells, ship-to-shore cranes, and medical products, while retaining Trump-era tariffs on over $300 billion in goods. The United States Trade Representative’s Office told Reuters it anticipates the effective date will be in …
The International Energy Agency (IEA) trimmed its forecast for 2024 oil demand growth on Wednesday, further expanding the chasm between it and oil producer group OPEC regarding the outlook for global oil demand this year. The Paris-based energy watchdog lowered its growth outlook for this year by 140,000 barrels per day (bpd) to 1.1 million …
IEA Trims 2024 Oil Demand Growth Forecast, Widening Gap with OPEC View Read More »
By Reuters Schumer urges FTC to hit the brakes on $53 billion Chevron-Hess merger By Reuters May 12 (Reuters) – U.S> Senate Majority Leader Chuck Schumer on Sunday urged the Federal Trade Commission to “pump the breaks” on Chevron Corp’s proposed $53 billion acquisition of Hess Corp. “The FTC should side with consumers and pump the breaks …
Schumer Urges FTC to Hit the Brakes on $53 billion Chevron-Hess Merger Read More »
(Reuters) – Oil prices extended declines on Monday amid signs of weak fuel demand and as comments from U.S. Federal Reserve officials dampened hopes of interest rate cuts, which could slow growth and crimp energy use in the world’s biggest economy. Brent crude futures slid 7 cents, or 0.1%, to $82.72 a barrel by 0624 …
Oil Slips on Signs of Weak Fuel Demand, Strong Dollar Read More »
Summary Fed’s Logan says policy may not be tight enough Dollar rises after consumer sentiment data, yen weaker Speculators cut U.S. crude oil net longs, CFTC says US drillers cut oil rig count to lowest since Nov – Baker Hughes NEW YORK, May 10 (Reuters) – Oil prices fell by nearly $1 a barrel on …
Oil Falls on Prospect of Higher-For-Longer U.S. Rates, Stronger Dollar Read More »
LONDON, May 10 (Reuters) – Global benchmark Brent hovered above $84 a barrel on Friday after data this week signalled growing demand in the U.S. and China, the world’s two largest crude users, while festering conflict in the Middle East added support. Brent futures were up 50 cents to $84.38 a barrel at 1130 GMT. …
Oil Benchmark Brent Above $84 on Perky Demand Signals, MidEast Conflict Read More »
The Panama Canal is in talks with U.S. liquefied natural gas (LNG) producers on how to meet increased demand for crossings as water levels recover after a prolonged drought, the canal’s administrator Ricaurte Vasquez told Reuters in an interview. The canal is typically used by U.S. Gulf Coast exporters to send LNG cargoes to Asia …
Panama Canal in Talks with U.S. LNG Producers to Increase Transit Read More »
Summary U.S. crude stockpiles fall, products post surprise build, EIA says China April oil imports rise 5.45% from a year ago (Reuters) – Oil prices rose on Thursday as falling U.S. crude inventories amid rising refinery intake and a rise in Chinese imports last month supported higher demand expectations for the world’s two largest crude …
Oil Rises on U.S. Crude Storage Draw, China Imports Up Read More »
U.S. gas inventories are near record highs for this time of year after exceptionally mild temperatures linked to the El Nino weather phenomenon slashed gas and electricity consumption for heating during the winter of 2023/24. But ultra-low prices are maximising gas combustion by power generators and forcing producers to cut back drilling, which should ensure …
U.S. Gas Surplus will be Eliminated Before End of Winter 2024/25: John Kemp Read More »
