By Bloomberg News Harry Sargeant III, a Florida energy tycoon who served as a longtime back channel between Washington and Caracas, agreed to sell his interests in Venezuela’s second-largest oil producer following a pressure campaign to force him out. Sargeant on Friday signed a $300 million deal to sell his offshore company, Bluewave Properties Ltd., …
Sargeant Said to Exit Venezuela Oil Stake Amid Pressure Campaign Read More »
(Reuters) – Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell by about 6.1 million barrels to 298.7 million barrels last week, the lowest level since January 1983, according to data from the Department of Energy. The drawdowns are part of a U.S. agreement to release 172 million barrels from the facility. Reporting …
(Reuters) – President Donald Trump said on Monday that the United States controls the Strait of Hormuz and had swept the strategic oil waterway for Iranian mines. “Look, the only one that has control of the Strait of Hormuz right now is the United States Navy,” Trump told reporters in the Oval Office. “We’ve mine …
Trump Says the US Has Swept Strait of Hormuz for Mines Read More »
(Reuters) – U.S. and European diesel prices rose sharply on Monday after attacks on refineries in Russia and Saudi Arabia added to supply disruptions, raising concerns for farmers in need of the fuel for the planting season in the Northern Hemisphere and harvesting season in the Southern Hemisphere. The U.S. ultra-low sulfur diesel futures contract …
Equipment failures suggest unforeseen costs and reliability issues at the multibillion dollar facilities. By Naureen S Malik Rapid swings in AI data centers’ power demands are straining vital equipment, causing batteries, generators and cooling systems to malfunction or wear out far sooner than expected. As the AI boom accelerates, these technical problems suggest added costs …
AI’s Volatile Power Demand Is Damaging Its Own Data Centers Read More »
The US President is betting he can wait Iran out, prolonging uncertainty for oil markets. By Grant Smith In just over a week, Donald Trump has shifted from touting an imminent peace deal with Iran to adopting a “low key” attitude to negotiations. The US President signaled this weekend that he’s prepared to let economic …
Trump’s Low-Key Pivot Leaves Hormuz Oil in Limbo Read More »
By Anthony Di Paola and Abeer Abu Omar Adnoc Gas Plc is considering a new liquefied natural gas export facility outside the contested Strait of Hormuz, Abu Dhabi’s latest move to build infrastructure bypassing the critical waterway that’s been severely disrupted by the Iran war. The company, a unit of the United Arab Emirates’ biggest …
Adnoc Gas Exploring New LNG Export Plant to Avoid Hormuz Read More »
By Menna Alaaeldin, Jonathan Saul and Kate Abnett First reported difficulty on June 8 off Yemen Grounded off Omani nature reserve Indications of a blast aboard, maritime security sources say Loaded with Russian crude bound for Asia Tanker subject to EU, other sanctions Aug 10 (Reuters) – Leaking crude oil from a tanker grounded off …
Oman Says Grounded Tanker Oil Spill Covers 400 Square KM Read More »
China is singlehandedly doing the heavy lifting of cutting crude oil demand in Asia to compensate for reduced shipments from the Middle East as a result of the Iran war. The world’s biggest oil importer reported arrivals of 8.41 million barrels per day (bpd) in July, up from the near decade low of 7.12 million …
COMMENTARY: China is Balancing Asia’s Crude Oil Demand by Itself: Russell Read More »
U.S. natural gas futures climbed about 4% to a one-week high on Monday as daily flows to liquefied natural gas (LNG) export plants rose to a one-month high. Front-month gas futures for September delivery on the New York Mercantile Exchange (NYMEX) rose 9.5 cents, or 3.6%, to $2.757 per million British thermal units (mmBtu), …
US Natgas Prices Climb 4% as LNG Export Flows Hit One-Month High Read More »
