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(Reuters) – Oil prices closed 1% lower on Friday and fell even more for the week as markets remained wary of soft Chinese demand even as producer group OPEC+ extended supply cuts. Brent crude futures settled down 88 cents, or 1.1%, at $82.08 a barrel. U.S. West Texas Intermediate crude futures (WTI) fell 92 cents, …
Oil Dips 1%, Posts Weekly Loss as Markets Weigh Chinese Demand Read More »
Summary Delayed rate cut expected, likely to buoy dollar China Jan-Feb crude imports rise U.S. crude stocks rose as gasoline, distillate stocks drop LONDON, March 7 (Reuters) – Oil prices slipped on Thursday as expectations that U.S. interest rate cuts could be delayed capped gains, though upbeat Chinese trade data augured well for demand in …
Oil Prices Slip on View U.S. Rate Cuts Could be Delayed Read More »
Bloomberg The boss of the world’s biggest oil-services company says his industry isn’t moving fast enough to do its part in the fight against global warming. SLB Chief Executive Officer Olivier Le Peuch said he and his peers have a responsibility to find ways to reduce greenhouse gas emissions from drilling, fracking and pumping. Yet progress during …
Oil Industry Criticized From Within Over Climate Efforts Read More »
Summary China 5% growth target lacks concrete stimulus plans Investors on alert for U.S. rate cut signals Some oil supply tightness with OPEC+ cut extension LONDON, March 6 (Reuters) – Oil prices rebounded slightly on Wednesday after four days of declines as signs of supply tightness amid output cuts by major producers overrode demand concerns …
Oil Up as OPEC+ Cuts Override China, US Demand Concerns Read More »
(Reuters) – Pipeline operator Enbridge said on Wednesday it will invest about $500 million in expanding its pipeline and storage assets to improve its U.S. Gulf Coast presence. Enbridge operates North America’s biggest oil pipeline network, the Mainline, which moves Canadian crude from Alberta to U.S. and eastern Canadian refineries. The company said it will …
Enbridge to Invest About $500 Million in Pipeline Assets Read More »
U.S. natural gas futures jumped about 6% to a three-week high on Monday as producers cut output after prices collapsed to a 3-1/2-year low in recent weeks. Front-month gas futures for April delivery on the New York Mercantile Exchange rose 11.7 cents, or 6.4%, to $1.952 per million British thermal units (mmBtu) at 1:05 p.m. …
U.S. Natgas Prices Jump 6% to 3-week High as Output Drops Read More »
(Reuters) – A measure in the U.S. funding legislation unveiled by congressional leaders on Sunday would block China from buying oil from the Strategic Petroleum Reserve. The desire for a hard line on China is one of the few truly bipartisan sentiments in the deeply divided U.S. Congress, and lawmakers have introduced dozens of bills …
U.S. Funding Bill Blocks China From Buying Oil From Strategic Petroleum Reserve Read More »
Summary OPEC+ extend 2.2 mln bpd voluntary oil output cuts through Q2 Russia to cut oil output and exports by another 417,000 bpd Brent spreads widen after OPEC+ announcement LONDON, March 4 (Reuters) – Oil prices were little changed on Monday following the widely expected extension of voluntary output cuts through the middle of the …
Oil Steadies After OPEC+ Extends Output Cuts as Expected Read More »
U.S. energy firms this week added oil and natural gas rigs for a second straight week to their highest since September, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by three to 629 in the week to …
U.S. Oil and Gas Rig Count Rises to Highest Since September- Baker Hughes Read More »
Reuters Breakingviews) – The Oracle of Omaha’s crystal ball failed him. Warren Buffett conceded in his latest annual letter to Berkshire Hathaway shareholders released over the weekend that he made a “costly mistake” about electricity. The error was thinking that investing huge sums to supply it to American homes and businesses would generate a steady …
Buffett Puts $1 Trillion Grid Problem in a Bad Light Read More »
