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European Oil Majors Outshine US Rivals With Iran War Trading Bonanza

CDN and International News, Conventional Energy, Energy Topics & Technology, Exploration & Production, Gasoline, Latest, Oil / By

By Shadia Nasralla, Stephanie Kelly and Dmitry Zhdannikov Europe’s top-three majors made billions trading in Q1, sources say BP flags ‘exceptional’ trading results Shell, TotalEnergies also report strong trading results Chevron, Exxon fail to capitalise on crisis, shares trail LONDON, April 17 (Reuters) – The trading desks of Europe’s top three oil majors have reaped …

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US Begins Blockade of Iran’s Ports, Tehran Threatens Retaliation

Conventional Energy, Energy Topics & Technology, Gasoline, Latest, Oil, Pinned Primary, US News / By

By Trevor Hunnicutt and Parisa Hafezi Trump says Iranians want to make a deal US, Pakistani officials says talks continue Iran warns of harsh response to maritime blockade Oil prices jump back over $100 NATO allies refuse to join in WASHINGTON/DUBAI, April 13 (Reuters) – The U.S. military began a blockade of ships leaving Iran’s …

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Trump Says Gas Prices May Remain High Through November Midterm Election

Conventional Energy, Energy Topics & Technology, Gasoline, Latest, Oil, Tri-Pinned, US News / By

Summary Trump announces US naval blockade of Strait of Hormuz Democratic senator questions Trump’s strategy Trump’s approval rating slumping since war on Iran began MIAMI, April 12 (Reuters) – U.S. President Donald Trump said on Sunday that the price of oil and gasoline may remain high through November’s midterm elections, ​a rare acknowledgement of the potential political …

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What the Trump Tax Breaks Giveth, the Gasoline Pump Taketh Away

Energy Topics & Technology, Gasoline, Latest, US News / By

By David Lawder Rising gas prices threaten to offset tax refund gains, especially for lower-income Americans Wealthier taxpayers benefit more from new deductions, data from Tax Foundation and IRS shows Economists cut US consumption, GDP forecasts due to higher energy cost WASHINGTON, April 10 (Reuters) – U.S. President Donald Trump in February touted this year’s …

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Iran War Raises Demand for US Fuel, Boosting Gulf Coast Refining Margins

Conventional Energy, Diesel Fuel, Energy Topics & Technology, Gasoline, Latest, Oil, Refineries, US News / By

(Reuters) – U.S. Gulf Coast refiners are reaping the strongest margins in years as disruptions to Middle Eastern oil flows from the Iran war raise demand for U.S. fuel exports, analysts and experts said. Asian and European refiners have been hit hard by a slump in Middle Eastern crude exports due to Iran’s blockade of …

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Fuel Prices Could Keep Rising for Months After Hormuz Reopens, US EIA Says

Energy Topics & Technology, Gasoline, Latest, US News / By

(Reuters) – Fuel prices could keep rising for months even after the Strait of Hormuz reopens, the U.S. Energy Information Administration said on Tuesday, deviating from President Donald Trump’s assurances that consumers will see immediate relief when he ends the war with Iran. The U.S.-Israeli war with Iran, now in its second month, has sent …

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Trump Speech Unleashes More Pain on US Consumers With $5 Gasoline, Record Diesel in Sight

Diesel Fuel, Energy Topics & Technology, Gasoline, Latest, US News / By

(Reuters) – U.S. President Donald Trump’s address to the nation on Wednesday, in which he vowed more aggressive strikes on Iran, has put consumers on course for record fuel prices at the pumps just ahead of the country’s peak summer travel season, market experts said. Americans expected Trump’s speech to outline a plan to end …

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FED’S BARKIN: Households, Firms Still See Oil Shock Through a “Short-Term Lens”

Conventional Energy, Energy Topics & Technology, Gasoline, Latest, Oil, US News / By

Summary Barkin sees no major shift yet in consumer spending or inflation expectations Fed officials remain cautious, awaiting clarity on oil price impact before policy changes Retailers face consumer pushback on prices, while service firms retain more pricing power (Reuters) – Businesses continue to act as if high oil prices will prove only a short-term …

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US Pump Prices Hit $4 a Gallon as Iran War Wreaks Havoc on Global Energy Supply

Conventional Energy, Energy Topics & Technology, Gasoline, Latest, Oil, US News / By

  Summary Gasoline prices rise due to Iran conflict and Strait of Hormuz closure High fuel costs impact US households and Trump’s political standing Analysts expect crisis to be shorter than 2022 Ukraine conflict NEW YORK, March 30 (Reuters) – The U.S. national average retail ​price of gasoline crossed $4 a gallon for the first …

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Why $100 Oil Won’t Break the American Consumer: McGeever

Conventional Energy, Energy Topics & Technology, Gasoline, Latest, Oil, US News / By

(Reuters) – No one likes expensive oil, especially in the U.S., where driving, spending, and energy-intensive economic activity are on such a vast scale. But despite fears to the contrary, the average U.S. consumer has never been better equipped to deal with $100-a-barrel oil. U.S. households are the richest they’ve ever been in nominal terms. …

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