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Oil Shrugs Potential IEA Reserves Release, Gains on Supply Worries

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Summary WSJ reports IEA proposed largest-ever release of oil reserves France to host G7 leaders call on Wednesday U.S. crude, gasoline and distillate stocks fell last week March 11 (Reuters) – Oil prices rebounded on Wednesday as markets doubted whether the International Energy ​Agency’s reported plan for a record release of oil reserves could offset …

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Chevron, Shell Closing in on First Big Oil Production Deals in Venezuela Since US Captured Maduro, Sources Say

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

(Reuters) – International oil majors Chevron and Shell are closing in on the first big oil production deals with Venezuela since the U.S. capture of President Nicolas Maduro in January, five sources close to the negotiations told Reuters. The deals would allow both companies to boost production in coveted oil regions in the South American …

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Higher Gasoline Prices, Volatile Stocks, Could Hit Both Low- And High-Income US Consumers as War Persists

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

By Howard Schneider Gas prices rise, stocks volatile amid US-Iran conflict Lower-income households may cut spending, affecting businesses Fed faces challenge balancing inflation and growth amid conflict WASHINGTON, March 10 (Reuters) – Rising gasoline prices and a wobbly stock market are increasing the risk the U.S.-Israeli war on Iran could hit hard among consumers across …

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Brent to Trade Above $95 for Next Two Months on Iran War, EIA Says

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By Georgina Mccartney, Arathy Somasekhar and Siddharth Cavale HOUSTON, March 10 (Reuters) – Brent oil prices are set to trade above $95 a barrel over the next two months as the Iran war disrupts supplies, ​before falling to around $70 by the end of the year, the Energy Information Administration ‌said on Tuesday in a …

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Exxon Looks to Ditch New Jersey Incorporation for Texas Homecoming

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Summary Exxon is latest high-profile company moving to Texas for business-friendly environment New Jersey sued Exxon and others over climate change; suit dismissed Incorporation in Texas may aid ​Exxon in policy matters, says law professor (Reuters) – Exxon Mobil  ‌is seeking to abandon its corporate registration in New Jersey and redomicile in Texas where its headquarters is located, the U.S. …

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Oil Sinks 7% as Trump Predicts Middle East De-Escalation

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Summary Oil prices fall after topping $119 a barrel on Monday Trump predicted the war in the Middle East could be over soon G7 ready to act on oil surge but holds off tapping reserves (Reuters) – Oil prices ​plummeted 7% on Tuesday after soaring to a more than three-year high in the previous session …

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Trump Weighs Easing Russia Sanctions, Other Measures to Cool Oil Prices

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

By Jarrett Renshaw Trump weighs steps to ease oil prices Options include Russia sanctions relief, G7 oil reserve release Strait of Hormuz disruptions limit immediate impact March 9 (Reuters) – U.S. President Donald Trump is considering easing oil sanctions on Russia and releasing emergency crude stockpiles as part of a package of options aimed at …

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US Considering Selling Oil From Strategic Reserve, US Energy Chief Says

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By Liz Hampton PLATTEVILLE, Colorado, March 9 (Reuters) – The U.S. is considering coordinating ​sales of oil from the U.S. Strategic Petroleum Reserve with ‌releases from other countries as prices soar during the war on Iran, Energy Secretary Chris Wright said on Monday. Wright also said the U.S. has “some other options” on allowing ​more …

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Back to the 1970s? Investors Brace for a Return of Stagflation

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(Reuters) – Investors are now seriously considering the possibility that war in the Middle East could create a stagflationary shock, just as it did 50 years ago, when disruption to global energy supplies sent inflation surging, and battered growth “The risk of a 1970s scenario is rising,” said Kaspar Hense, portfolio manager at RBC BlueBay …

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