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(Reuters) – Goldman Sachs said on Thursday that risks to oil prices remain skewed to the upside both in the near term and into 2027. The bank added that the persistence of several past large supply shocks highlights the possibility that oil prices could remain above $100 per barrel. Benchmark Brent crude surged above $119 …
Goldman Sachs Flags Upside Risks to Oil Prices in Near Term and Into 2027 Read More »
(Reuters) – Iranian attacks have knocked out 17% of Qatar’s liquefied natural gas (LNG) export capacity, causing an estimated $20 billion in lost annual revenue and threatening supplies to Europe and Asia, QatarEnergy’s CEO told Reuters on Thursday. Saad al-Kaabi said two of Qatar’s 14 LNG trains and one of its two gas-to-liquids (GTL) facilities …
(Reuters) – German Finance Minister Lars Klingbeil is examining additional ways to relieve consumers from rising fuel prices due to the Iran war, including introducing a windfall tax on oil companies, his ministry said on Thursday. The money gained from the tax could be used to finance an increase in the commuter allowance, for example, …
German Minister Eyes Windfall Tax on Oil Firms to Ease High Energy Costs Read More »
(Reuters) – Leading nations in Europe said in a joint statement with Japan on Thursday they would take steps to stabilise energy markets and were ready to join “appropriate efforts” to ensure safe passage through the Strait of Hormuz. The statement from Britain, France, Germany, Italy, the Netherlands and Japan, condemned attacks by Iran and …
European Countries and Japan: Ready to Help on Hormuz, Stabilise Energy Markets Read More »
(Reuters) – European countries scrambled to cushion the impact of soaring oil prices on Thursday after tit-for-tat strikes on Gulf energy plants, including the world’s largest gas plant in Qatar – the most economically significant escalation of the U.S.-Israeli war on Iran. State oil giant QatarEnergy reported “extensive damage” after Iranian missiles hit the Ras …
Europe Scrambles to Limit Effects of Energy Escalation in Iran War Read More »
(Reuters) – Most oil and gas majors operate in the Middle East, where the U.S.-Israeli war on Iran has disrupted shipping and output. Shell’s Pearl plant and Saudi Arabia’s SAMREF refinery were reported damaged, while TotalEnergies said 15% of production is offline. Here are some details on the majors’ production in the region, in alphabetical …
(Reuters) – The Saudi port of Yanbu, one of two major remaining export routes for Gulf Arab oil after Iran effectively shut the Strait of Hormuz, has stopped oil loadings, two sources told Reuters on Thursday, after the Saudi defence ministry said it intercepted a ballistic missile over the city. The ministry said earlier that …
Saudi Port of Yanbu Stops Oil Loadings, Two Sources Say Read More »
(Reuters) – A prolonged U.S.-Israeli war with Iran could push buyers to non-Middle East suppliers such as the U.S. and Canada, said a senior executive at Japan’s biggest power generator JERA, as the conflict spreads to energy infrastructure across the region. “With 90 million metric tons from the Middle East absent from the global LNG …
Prolonged Iran Crisis to Push Buyers to Non-Mideast Supply, JERA Executive Says Read More »
Summary Iranian missile attacks cause extensive damage to Qatar’s LNG facilities Trump warns of massive response if Iran attacks Qatari LNG again Fires after drone attacks target Kuwait’s Mina al-Ahmadi, Mina Abdullah refineries Drone falls in Aramco-Exxon SAMREF refinery, missile towards Yanbu intercepted UAE shuts gas facilities after intercepting missiles, no injuries reported (Reuters) – …
Iran Targets Energy Facilities Across Gulf After Israel Struck its Key Gas Installations Read More »
Understanding the relationship between West Texas Intermediate (WTI) and Brent Crude is essential for navigating energy markets. These two benchmarks represent different regions, qualities, and logistical realities, and their price difference—the Brent-WTI spread—serves as a vital indicator of global energy health. Core Differences Between WTI and Brent Geographic Origin: WTI: Primarily sourced from U.S. fields …
