By David Shepardson WASHINGTON, June 8 (Reuters) – Fuel costs for U.S. airlines jumped 78% in April to nearly $6.5 billion compared with the year before, as the Middle East conflict drives up jet fuel prices, the U.S. Transportation Department said Monday. Airlines’ fuel costs were up 26% over March and carriers used 2.6% less …
US Airlines’ Fuel Costs Soared in April to $6.5 Billion Read More »
By Kate Abnett and Joanna Plucinska EU eyes expanding carbon costs to outbound international flights Airlines oppose this, back U.N. carbon offset scheme instead EU sceptical offsets will drive emissions reductions Aviation’s climate impact set to increase without further action BRUSSELS/BERLIN, June 8 (Reuters) – Europe’s biggest airlines have urged the European Union not to …
Airline CEOs Warn EU Plan to Expand Carbon Costs Will Raise Fares Read More »
By Javier Blas When the day comes, the reopening of the Strait of Hormuz will be an extraordinary event: restarting about 10,000 oil wells, pumping roughly 15% of the world’s production, that had been shut down for a hundred days and counting. Nothing even remotely close has been attempted — ever. The oil industry doesn’t …
Brace for a Flood of Oil as Soon as Hormuz Reopens Read More »
The Strait of Hormuz will be open but under new conditions to be set by Iran and Oman, including a transit fee, Iran’s ambassador to Moscow was quoted as saying on Monday. The U.S.-Israeli war on Iran has largely cut oil flows via the strait, which before the conflict saw one-fifth of the world’s …
Hormuz Strait Will be Open but With Transit fees, Iran Envoy to Moscow Quoted Read More »
The biggest oil supply shock in decades has entered its fourth month – with no resolution in sight as neither the U.S. nor Iran appears willing to budge – yet the market remains surprisingly calm. This disconnect reflects an uncomfortable reality: the biggest drivers of today’s energy market are a host of unknowns. The …
Oil Market Calm Masks a Host of Unknowns: Bousso Read More »
Summary HAPCO start-up pushed from mid-year to September or October, sources say PetroChina Dalian unit resumption postponed indefinitely China’s refining margins turn negative on high crude costs and fuel price caps India’s capacity expansion on track SINGAPORE, June 8 (Reuters) – Chinese refiners have delayed two projects slated to come online this year following disruptions …
Chinese Refiners Delay Projects with Middle East Oil Supply Disrupted Read More »
(Reuters) – Norwegian oil companies have agreed to a wage deal with three labour unions, preventing any strike action that would have disrupted output, negotiators for both sides said on Friday. Labour unions had said nearly 8% of Norwegian offshore oil and gas workers planned to strike if wage mediation failed, and the industry estimated that this …
Norway Oil Companies, Unions Agree Wage Deal, Averting Strike Read More »
Summary Israel strikes on Iran follow strikes on Beirut on Sunday Iran on Sunday retaliated with missile attacks on Israel Iran plans to collect Hormuz transit fees, ambassador quoted as saying Analysts say impact of OPEC+ output hike agreement is limited LONDON, June 8 (Reuters) – Oil prices rose more than 3% on Monday, as …
Oil Prices Climb Over 3% After Israeli Strikes on Iran and Lebanon Read More »
‘Two months ago, if you said oil is going to be the low 80s, you’d pop the champagne,’ said Ensign Energy Services Inc. president Bob Geddes By This Article and More by Steven Wilhelm Here Original: financialpost.com/business/energy/canada-oil-gas-drillers-making-money-busiest-may-since-2014/wcm/6acce87b-0c18-4fbe-af44-ddf94508e35f High oil prices are propelling a new rush for black gold across Western Canada, with drillers getting …
Iran’s Deputy Foreign Minister Kazem Gharibabadi said on Sunday that regional governments were “not in a position to demand reparations”, responding to reports the U.S. could use Iranian assets to compensate regional allies for war-related damages. Gharibabadi added in a post on X that Iran’s assets were “neither war spoils for Washington nor a payment …
Iran Rejects Idea of its Assets Being Used to Pay Damages to US Allies Read More »
