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Summary US, Iran prepare for talks on Friday About a fifth of global oil consumption passes through Strait of Hormuz Volatility leads to record WTI Midland contracts in January Brent crude still close to five-month high (Reuters) – Oil prices fell more than 2% on Thursday but held close to multi-month highs after the U.S. …
Oil Falls More Than 2% on Easing Supply Concerns After US, Iran Agree to Talks Read More »
U.S. energy firms likely pulled a bigger-than-usual 374 billion cubic feet of natural gas from storage last week as an Arctic freeze boosted heating demand, according to the average estimate in a Reuters poll released on Wednesday. That figure compares with a draw of 195 bcf during the same week a year ago, and a …
Investors rushed to lock in oil prices at record levels in January amid concerns around Iranian crude supplies and more Venezuelan barrels heading to the U.S. Gulf Coast. Hedging can help producers reduce risk and protect their production from sharp moves in the market by locking in a price for the oil. It can …
Traders Rush to Lock in Oil Prices Amid Iran Geopolitical Risk, More Venezuelan Supply Read More »
By Ella Feldman Argentina, Guyana and Brazil remain poised to drive oil production growth in South America for years to come despite the US push for investment in Venezuela, Rystad Energy says. The consulting firm estimates flagship projects in the three countries will add more than 700,000 barrels per day in oil production this year, …
Venezuela Oil Won’t Top Others in Region for Years, Rystad Says Read More »
By Priscila Azevedo Rocha Richard Holtum Photographer: Aaron M. Sprecher/Bloomberg Trafigura Group Chief Executive Officer Richard Holtum said the liquefied natural gas industry needs a “bit of innovation” when it comes to financing projects. “I feel sorry for LNG projects in the US,” Holtum said on a panel at the LNG 2026 conference in Doha. …
Trafigura CEO Says LNG Projects Need New Financing Playbook Read More »
Smith’s criteria suggest Prince Rupert may be the top option, as the city is already home to Canada’s third-largest port By Thomas Seal Danielle Smith said last week she and B.C. Premier Eby share “so much common ground” on resource development, including the possibility of expanding Trans Mountain again. Photo by Blair Gable/Postmedia files Alberta …
Alberta Premier Sees Several Options For New Oil Pipeline to Feed Asia Read More »
(Reuters) – U.S. crude stocks and distillate inventories fell while gasoline inventories rose in the week ending January 30, the Energy Information Administration said on Wednesday. Crude inventories fell by 3.5 million barrels to 420.3 million barrels last week, the EIA said, compared with analysts’ expectations in a Reuters poll for a 489,000-barrel rise. Crude …
US Crude Oil and Distillate Inventories Fell Last Week, Gasoline Rose, EIA Says Read More »
(Reuters) – Norway’s Socialist Party has withdrawn its support for a proposal to block Equinor’s Hammerfest liquefied natural gas plant from receiving a planned onshore power connection, clearing the way for the grid development to proceed. Parliament is due on Thursday to vote on an opposition proposal seeking to revoke the LNG plant’s planned link …
Norway’s Socialist Party Backs Down From Threat to LNG Electricity Project Read More »
(Reuters) – Canadian oil sands producer Suncor Energy will present the market this spring with options it is considering for securing long-term bitumen supply, the company’s chief executive said on Wednesday. The bitumen supply question will be one of the central themes of a new long-term vision the company plans to unveil at a March …
Suncor to Lay Out Plans for Long-Term Bitumen Supply This Spring Read More »
Summary Trump wants India to stop buying Russian oil India keeps silent but has reduced imports Russia has cut price of oil, budget suffers US pressure rises at critical moment in Ukraine peace talks (Reuters) – Russia faces a steep drop in oil income if U.S. President Donald Trump successfully pressures India to stop importing Russian …
Trump’s India Pact to Make Big Dent in Russian Oil Revenue Read More »
