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The war with Iran could leave consumers and businesses worldwide facing weeks or months of higher fuel prices even if the week-old conflict ends quickly, as suppliers grapple with damaged facilities, disrupted logistics, and elevated risks to shipping. The outlook poses a wider global economic threat, as well as a political vulnerability for U.S. President …
Iran War Threatens a Prolonged Hit to Global Energy Markets Read More »
(Reuters) – Treasury Secretary Scott Bessent on Friday said the United States could remove sanctions from more Russian oil, a day after Washington issued a 30-day waiver allowing the sale of Russian crude currently stranded at sea to continue to India. “We may unsanction other Russian oil,” Bessent told Fox Business’ “Kudlow” program. “There are …
US Could Lift Sanctions on More Russian Oil, Says Bessent Read More »
(Reuters) – Barclays said on Friday that Brent crude could potentially test $120 a barrel if the Middle East conflict persists for another couple of weeks. “These numbers might seem too high, especially given widespread pessimism about the oil market outlook heading into this year, but we reiterate that fundamentals are stronger and risks are …
Barclays Says Brent Could Test $120/bbl if Middle East Tensions Persist Read More »
(Reuters) – Venezuela this month resumed exports of a key crude grade that had not been shipped since late 2024, diluted crude oil (DCO), with U.S. Chevron sending a 500,000-barrel cargo to the U.S. Gulf Coast, a document from state energy company PDVSA seen on Friday showed. The grade, produced from a blend of extra …
Venezuela Resumes Exports of Diluted Crude Oil After 15-Month Pause -Document Read More »
(Reuters) – The anticipated construction cost for two phases of Venture Global’s CP2 LNG liquified natural gas project has jumped by $4 billion, or just under 14%, the company said in an annual report released earlier this week. It cited design modifications, inflation and the potential impact of tariffs imposed by U.S. President Donald Trump, …
Venture Global’s CP2 LNG Plant Costs Increase by $4 Billion Read More »
(Reuters) – The sudden and acute disruption to Middle East oil supplies caused by the U.S.-Israeli war with Iran is forcing buyers to tap every available barrel, rapidly dismantling forecasts of an oil glut this year. In February, the International Energy Agency forecast that global oil supply would exceed demand by around 3.7 million barrels …
Rip Up the Glut Forecasts – Mideast Oil Shock Signals Supply Crunch: Bousso Read More »
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for the first time in four weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by one to 551 in the week to March …
US Drillers Add Oil, Gas Rigs for First Time in Four Weeks, Baker Hughes Says Read More »
(Reuters) – QatarEnergy is offering 10 liquefied natural gas tankers for lease, two industry sources told Reuters, after the world’s second-largest LNG exporter announced a production halt at its 77 million ton per annum (mtpa) facility and shipping rates soared, as the U.S.-Iran conflict heads into its second week. Qatari Energy Minister Saad al-Kaabi told …
Summary WTI hits level last seen in September 2023 Brent trades at $90 per barrel for first time since April 2024 Trump says he is unconcerned about rising gasoline prices Qatar’s energy minister says oil could reach $150 a barrel (Reuters) – U.S. crude oil futures climbed more than $10 on Friday, but remained under …
Gas producer says it will take ‘weeks to months’ to restore deliveries after Iranian drone strike By Andrew England and Malcolm Moore ORIGINAL: financialpost.com/financial-times/qatar-war-gulf-stop-energy-exports Qatar’s energy minister has warned that war in the Middle East could “bring down the economies of the world”, predicting that all Gulf energy exporters would shut down production within days …
Qatar Warns War Will Force Gulf to Stop Energy Exports ‘Within Days’ Read More »
