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Summary Brent settles 2.1% lower for the week Interest rate policy, rise in crude oil stocks weigh Oil rig count unchanged, Baker Hughes data Market awaits OPEC+ June 2 online meeting (Reuters) – Oil prices rose about 1% on Friday, but fell for the week on worries that strong U.S. economic data would keep interest …
Oil Posts Weekly Loss as Interest Rate Policy Spurs Fuel Demand Worries Read More »
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the fourth time in five weeks, energy services firm Baker Hughes (BKR.O), opens new tab said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by …
US Drillers Cut Oil and Gas Rigs for Fourth Time in Five Weeks – Baker Hughes Read More »
Hess Corp CEO John Hess has until Tuesday to quell a rebellion by shareholders over his handling of what could turn out to be one of the largest mergers in oil industry history: a proposed $53 billion sale of the oil producer to Chevron Corp. Hess, 70, has spent the past month visiting or calling …
Hess-Chevron Merger Vote Appears Ripe for Narrow Approval Read More »
Summary API reports crude and gasoline stocks rise, sources say UK inflation falls less than expected Fed minutes, EIA inventory report awaited LONDON, May 22 (Reuters) – Oil prices fell on Wednesday, retreating for a third straight day on expectations that the Federal Reserve might keep U.S. interest rates higher for longer due to sustained …
Oil Slips for Third Day on Likely ‘Higher for Longer’ U.S. Rates Read More »
Oil producer Hess on Tuesday said it is currently facing three lawsuits alleging inadequate disclosures over its proposed sale to Chevron. Chevron last October offered to acquire Hess in a move to gain a foothold in oil-rich Guyana’s lucrative offshore fields. However, the deal has been stalled due to a conflict with Exxon Mobil and pending regulatory …
Hess Facing Three Lawsuits Over Disclosures in Chevron Deal Read More »
Summary Iranian President, foreign minister die in helicopter crash Saudi crown prince postpones Japan trip citing king’s health Another Russian energy facility hit LONDON, May 20 (Reuters) – Oil prices held steady on Monday amid political uncertainty in major producing countries after Iran’s president died in a helicopter crash and Saudi Arabia’s crown prince deferred a trip …
Oil Steadies After Death of Iran’s President, Saudi King’s Ill Health Read More »
Summary After rapid increases in offshore wind turbine capacities, western suppliers are doubling down on existing models to drive supply chain efficiencies and reduce risks. Another stumble for offshore wind in New York has highlighted shifting sentiment in the offshore wind turbine market. Last month, New York State Energy Research and Development Authority (NYSERDA) …
Wind Turbine Makers Halt Race for Size to Focus on Cost, Delivery Read More »
(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 »
