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U.S. natural gas futures extended gains on Thursday, having hit their lowest level in over two weeks earlier in the session, after a weekly report showed a bigger-than-expected storage withdrawal last week. Front-month gas futures for April delivery on the New York Mercantile Exchange rose 2.4 cents, or 1.5%, to $1.682 per million British thermal …
U.S. Natgas Prices Climb on Bigger-Than-Expected Storage Withdrawal Read More »
Monthly Oil Statistics The latest IEA’s Monthly Oil Statistics report including December 2023 data shows that for Total OECD: Total OECD production of crude oil, NGL and refinery feedstocks increased by 8.7% in December 2023 compared to December 2022. Refinery gross output of total products increased by 3.5% on a year-on-year basis. Net deliveries of total products decreased by 3.6% in December 2023 compared to …
International Energy Agency (IEA) Statistics: Monthly Oil Statistics Read More »
Monthly Gas Statistics The latest IEA’s Monthly Gas Statistics report including December 2023 data shows that for Total OECD: Production of natural gas increased by 3.9% compared to December 2022. Imports (entries)1 of natural gas were 6.4% lower on a year-on-year basis, and total OECD exports (exits)1 decreased by 2.5% in the same period. Gross consumption of natural gas decreased by 6.1% in December …
International Energy Agency (IEA) Statistics: Monthly Gas Statistics Read More »
Export-Import Bank set to vote on financing project Thursday Venture would undermine climate progress, lawmakers say Congressional Democrats are making a last-ditch appeal to leaders of the US Export-Import Bank before a critical vote Thursday, warning the agency its plan to underwrite oil drilling in Bahrain would undercut global efforts to fight climate change. “The world is …
Democrats Warn U.S. Trade Bank on Backing Bahrain Oil Drilling Read More »
HOUSTON/MIAMI, March 14 (Reuters) – The highest bid received in a U.S. auction of shares that will decide the fate of Venezuela-owned oil refiner Citgo Petroleum was $7.3 billion, enough to cover only a third of court-approved claims, two people familiar with the matter said. A federal court in Delaware is auctioning the shares of a parent …
Weak bids in Citgo Auction Spurs Venezuela to Pitch Alternative Pay Plan Read More »
Summary IEA raises 2024 oil demand forecast by 110,000 bpd Houthi attacks on shipping lead to longer routes Economic headwinds still seen putting damper on growth LONDON, March 14 (Reuters) – The International Energy Agency raised its view for oil demand growth by 110,000 barrels per day (bpd) from its previous month’s forecast as Houthi …
IEA Again Raises Oil Demand Outlook But Still Lags OPEC Read More »
U.S. motorists are likely to see gasoline prices turn sharply higher in the coming weeks as major refinery outages have cut supplies ahead of a seasonal jump in demand, analysts said. The national average price for a gallon of gasoline has increased more than 9% from the start of the year to hover around $3.40 …
US Pump Prices Set to Jump as Refinery Outages Nip Supply, Analysts Say Read More »
Oil prices extended gains on Thursday, as investors digested the International Energy Agency’s (IEA) latest oil market report, in which it made an upward revision to demand growth forecasts and cut its projection for non-OPEC supply in 2024. Brent crude futures for May rose 72 cents, or 0.86%, to $84.75 a barrel by 1021 GMT. …
Oil Prices Rise as Revised IEA Forecasts Suggest Tighter Market Read More »
U.S. crude oil stockpiles fell unexpectedly last week while gasoline inventories slumped as demand for the motor fuel rose even as refiners ramped up activity after maintenance and outages, the Energy Information Administration (EIA) said on Wednesday. After six straight weeks of builds, crude inventories fell by 1.5 million barrels to 447 million barrels in …
U.S. Gasoline Stockpiles Slump More Than Forecast on Higher Demand – EIA Read More »
Shell Publishes Energy Transition Strategy 2024 Shell will continue its drive to halve emissions from its operations (Scope 1 and 2) by 2030, compared with 2016 on a net basis. By the end of 2023, Shell had achieved more than 60% of this target. Shell also reduced the net carbon intensity of the energy products …
