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The Trump administration is stepping into the legal fight over whether Enbridge can continue to operate an aging pipeline beneath a Great Lakes channel, arguing that Michigan Gov. Gretchen Whitmer interfered with U.S. foreign policy when she revoked the line’s easement almost five years ago. The pipeline, known as Line 5, has moved crude oil …
(Reuters) – Ukraine’s military struck two Russian oil distribution facilities in the Bryansk and Samara regions overnight, Kyiv’s general staff said on Tuesday. In Samara, the military hit a line production station that mixes Russian oil for its flagship Urals oil grade for export, the general staff said on Telegram. In Bryansk, it hit a …
Ukraine Says it Hit Russian Oil Infrastructure in Bryansk, Samara Regions Read More »
(Reuters) – Saudi Arabia’s crude oil exports in July hit their lowest level in four months, according to data from the Joint Organizations Data Initiative (JODI) released on Monday. Crude exports from the world’s largest oil exporter fell to 5.994 million barrels per day, from 6.141 million bpd in June, its lowest level since March …
Saudi Arabia Crude Exports Fall to Four-Month Low in July Read More »
Summary Estonia accuses Russia of violating its air space Four Western nations recognise Palestinian state Iraq increases oil exports after OPEC+ relaxes quota (Reuters) – Oil prices were little changed on Monday as concerns over Russia and the Middle East were countered by oversupply jitters. Brent crude oil futures , which have traded between around …
Oil Prices Little Changed as Russia, Mideast Concerns Offset by Oversupply Worry Read More »
Iraq has increased oil exports following the gradual unwinding of voluntary production cuts under an OPEC+ agreement, the country’s state oil marketer SOMO said on Sunday. Earlier this month, eight members of OPEC+ agreed to raise production from October by 137,000 barrels per day. OPEC+ has been increasing production since April after years of cuts …
Iraq Increases Oil Exports, Sees Extra Revenues, State Oil Marketer Says Read More »
The Trump administration has sided with Canadian pipeline operator Enbridge in its legal battle against Michigan, filing a court statement last week that challenges the state’s efforts to shut down the Line 5 oil pipeline. Enbridge has been locked in a long-running dispute with Michigan over the aging Line 5 pipeline, which ships 540,000 barrels …
US Files Court Statement to Support Enbridge in Michigan Pipeline Case Read More »
Takeaways by Bloomberg AI Companies are looking outside of the US for opportunities due to Trump rolling back clean-tech incentives, with the green hydrogen industry and carbon capture and storage being affected. Regulation is needed to scale green tech, with executives saying that policy support, including mandates, is necessary to lower technology costs and guarantee …
Five Takeaways From the BNEF Barrel of Tomorrow Summit – Houston Read More »
(Reuters) – A group of Republican and Democratic U.S. senators introduced legislation on Friday that would expand sanctions against Russian energy, specifically by targeting a collection of older oil tankers the lawmakers say are used to dodge existing U.S. energy sanctions. The “Sanctioning Harbors and Dodgers of Western Sanctions,” or SHADOW Fleets Act comes as President Donald Trump has …
US Lawmakers Want Sanctions to Sink Russia’s ‘Shadow Fleet’ Read More »
Summary Large oil supplies, declining demand push prices lower Refinery turnaround season will also cut demand for crude Benchmarks gain for a second straight week (Reuters) – Oil prices dropped on Friday as worries about large supplies and declining demand outweighed expectations that the year’s first interest-rate cut by the U.S. Federal Reserve would trigger …
ENDING THE WEEK – Oil Prices Slip as Robust Supply Outweighs Fed Cut Read More »
Citi analysts on Friday forecast Brent crude oil prices would fall to $60 per barrel by year-end and average $62 per barrel between the second and fourth quarters of 2026, citing OPEC+ production increases and China’s stockpiling. The bank revised its global liquids balance outlook after OPEC+ announced plans to unwind an additional 1.6 million …
Citi Sees Brent Crude at $60 by Year-End as OPEC+ Ramps up Production Read More »
