Auto Added by WPeMatico
Summary IEA cuts 2024 demand growth forecast by 40,000 bpd Projection for 2025 raised by 50,000 bpd Oil drops as Iran supply disruption concerns ease (Reuters) – The world oil market is heading for a sizeable surplus in the new year, the International Energy Agency said on Tuesday as it reassured markets that the agency …
IEA Sees Oil Surplus Looming, Reassures on Iran Supply Risk Read More »
(Reuters) – Citi Research on Monday raised its bull case scenario for oil prices for this quarter and the next one, citing heightened potential of the market to fear or realize supply losses during these months due to growing Middle East conflict. The bank upgraded its bull case for the fourth quarter of 2024 and …
Middle East Supply Disruption Potential Could Send Oil above $100/bbl, Citi Says Read More »
Summary Brent, WTI down 4% Israeli PM Netanyahu says willing not to strike Iran oil targets OPEC, IAE cut global oil demand growth outlook (Reuters) – Oil prices tumbled more than 4% to a near two-week low on Tuesday due to a weaker demand outlook and after a media report said Israel is willing to not strike …
Oil Plunges as Iran Supply Disruption Concerns Ease, Demand Outlook Weakens Read More »
Accident at Deer Park refinery left at least two workers dead and another 35 people injured. A fatal accident last week at a Houston-area refinery was another reminder of the risks posed by the oil industry that dominates much of the city. The vast Deer Park facility, owned by Mexico’s state-owned oil company Petroleos Mexicanos, …
Deadly Houston Fire Highlights Pemex’s Grim Safety Record Read More »
Bloomberg News Elon Musk Showcases Tesla’s Autonomous ‘Robocab’ and ‘Robovan’ as Company Pivots to Robotics Elon Musk’s unveiling of self-driving taxi prototypes let down some Tesla Inc. investors, with many expecting more particulars on how the carmaker can possibly pull off his latest robocar predictions. Tesla might currently be riding the failures of the Cybertruck, but the company’s …
Elon Musk Unveils $30,000 Tesla Cybercab with 2026 Production, but Details Lacking Read More »
Summary Brent, WTI decline more than 2% China oil imports fall from a year ago for a fifth month in September China flags more fiscal stimulus, leaves out key details on size US to send anti-missile system and troops to Israel, markets remain on edge (Reuters) – Oil prices declined over 2% on Monday, wiping …
Oil Falls Over 2% as China Demand Woes Erase Last Week’s Gains Read More »
(Reuters) – A U.S. appeals court on Friday put on hold approvals and permits necessary to allow a Kinder Morgan subsidiary to construct a 32-mile gas pipeline in Tennessee, at the urging of environmental groups. The proposed Cumberland Project, set to be constructed by Kinder Morgan’s Tennessee Gas Pipeline, could transport about 245,000 dekatherms per day …
US court Puts on Hold Permits for Kinder Morgan Unit to Build Tennessee Pipeline Read More »
(Reuters) – The United States expanded sanctions against Iran’s petroleum and petrochemical sectors on Friday in response to an Iranian missile attack on Israel, the administration of President Joe Biden said. The U.S. move adds petroleum and petrochemicals to an executive order that targets key sectors of Iran’s economy with the aim of denying the government …
US Expands Sanctions to Iran’s ‘Ghost Fleet’ of Oil Tankers Read More »
Summary Companies Both benchmarks settle up 1% on the week Investors consider Israel’s response to Iran’s attack last week Hurricane aftermath to weigh on Florida fuel demand Libyan oil production restored to pre-central bank crisis levels HOUSTON, Oct 11 (Reuters) – Oil prices settled lower on Friday but rose for the second straight week as …
Oil Settles Down on Florida Fuel Demand Worries, Mideast Risk Drives Weekly Gains Read More »
Malaysia project secures $690 million Export-Import Bank loan Biden issued order to curb funding for fossil fuel projects The US Export-Import Bank authorized a $690 million loan to help help build a petrochemical plant in Malaysia, despite objections from climate activists who say the project flouts Biden-Harris administration promises to halt financing for fossil fuel projects abroad. The loan approved …
Petrochemical Plant Wins US Loan Despite Biden Climate Vow Read More »
