Auto Added by WPeMatico
Summary Prices fall for fourth straight session, down 4% on week OPEC spare capacity could offset Iran sanctions, analyst says EIA: U.S. crude inventories up 2.7 million barrels (Reuters) – Oil prices fell to a three-week low on Thursday, extending losses on hopes of easing tensions in the key producing region of the Middle East, …
Oil Extends Losses on Easing Middle East Tension, Demand Concerns Read More »
U.S. crude oil stockpiles rose and gasoline and distillate inventories fell more than forecast last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 2.7 million barrels to 460 million barrels in the week ending April 12, the EIA said, nearly double analysts’ expectations in a Reuters poll for a 1.4 million-barrel …
U.S. Crude Stockpiles Rise, Products Draw Down More Than Forecast – EIA Read More »
(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 »
(Reuters) – Chevron’s venture capital arm launched on Tuesday its third fund to invest in renewable energy technologies with a $500 million commitment, as oil majors look to diversify their business in the face of pressure to reduce their emissions. Like the previous two funds, the Future Energy Fund III will focus on innovations in industrial …
Chevron Arm Launches $500 Million Fund to Invest in Low Carbon Technologies Read More »
Summary Fed’s Powell: need higher interest rates for longer U.S. stocks seen up 1.4 million barrels – poll Market unwinding war premium, says analyst (Reuters) – Oil prices slipped for a third straight session on Wednesday as likely higher U.S. commercial inventories weighed, while weaker economic data from China and dimmed prospects of interest rate …
Oil Dips as Demand Worries Outweigh Middle East Supply Risks Read More »
Elon Musk’s company reported disastrous vehicle deliveries early this month Bloomberg News Tesla Inc. will slash global headcount by more than 10 per cent, Elon Musk wrote in an email to staff, as the carmaker grapples with a slowdown in electric vehicle demand. Tesla CEO Elon Musk sent a company-wide email announcing layoffs of “more than 10%” of Tesla’s …
Kimmeridge Energy Management said on Tuesday it has withdrawn its proposal to combine its gas-producing assets in South Texas with SilverBow Resources. Kimmeridge, SilverBow’s largest shareholder, in its latest attempt to acquire the company over the last two years had sent its offer on March 13 to combine assets. Along with Riposte Capital, SilverBow’s second-largest …
Kimmeridge Withdraws Merger Proposal for SilverBow Read More »
Iran’s unprecedented missile and drone strike on Israel is unlikely to prompt dramatic sanctions action on Iran’s oil exports from the Biden administration due to worries about boosting oil prices and angering top buyer China, said analysts. Shortly after Tehran launched its weekend attack – retaliation for Israel’s suspected April 1 strike on the Iranian …
Biden Unlikely to Cut Iran’s Oil Lifeline After Israel Attack Read More »
Freeport LNG’s liquefaction plant remains mostly offline for a fifth straight day, with gas utilization rates at 125 million cubic feet per day (mmcf/d), or 5% of its fully operational use, data from financial firm LSEG showed on Monday. Freeport LNG has been the second-largest U.S. LNG exporter, with an installed capacity of 15 million …
Freeport LNG Gas Consumption Running Near Zero for Fifth Day Read More »
The U.S. will not renew a temporary license set to expire on Thursday that widely eased sanctions on Venezuela’s oil and gas sector, a State Department spokesperson said, unless progress is made by President Nicolas Maduro on commitments for free and fair elections this year. The U.S. has been concerned about Venezuela’s electoral process and …
