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News

European Coal Prices Soar As EU Proposes Ban On Russian Coal Imports

European Coal Prices Soar As EU Proposes Ban On Russian Coal Imports

Apr 06, 2022 at 12:34 | Tsvetana Paraskova

Coal prices in northwest Europe jumped on Wednesday to their highest level in one month, after the European Commission proposed on Tuesday a ban on imports of Russian coal over…

Officials: Floating Mines Threaten Oil, Grain Shipping In Black Sea

Officials: Floating Mines Threaten Oil, Grain Shipping In Black Sea

Apr 06, 2022 at 11:43 | ZeroHedge

The risk of hitting floating mines in the major Black Sea shipping route is adding to perils for the few merchant ships still sailing in the region,…

Michel: EU Will Have To Ban Russian Oil, Gas

Michel: EU Will Have To Ban Russian Oil, Gas

Apr 06, 2022 at 11:33 | Irina Slav

The European Union will have to impose sanctions on Russian oil and gas “at some point”, Reuters has reported, citing the head of the European Council Charles Michel. "I…

Big Oil Faces Off Against Congress

Big Oil Faces Off Against Congress

Apr 06, 2022 at 10:33 | Charles Kennedy

Big Oil executives are facing off against Congress today at a hearing called by the House Energy and Commerce Committee in light of stubbornly high retail fuel prices. The Wall…

Crude Oil Exports From Kazakhstan’s CPC Terminal Resume

Crude Oil Exports From Kazakhstan’s CPC Terminal Resume

Apr 06, 2022 at 09:31 | Charles Kennedy

Tankers carrying nine million barrels of crude have departed from Kazakhstan’s CPC terminal after 10 days of no maritime exports, oil exports tracker TankerTrackers.com said on Wednesday. “A large…

Russia Expects $9.6-Billion Windfall From High Oil Prices In April

Russia Expects $9.6-Billion Windfall From High Oil Prices In April

Apr 06, 2022 at 08:52 | Charles Kennedy

Russia expects to earn additional oil and gas revenues of the equivalent of $9.6 billion (798.4 billion Russian rubles) this month, its finance ministry said on Tuesday. Despite the…

Oil Prices Slip On Crude, Distillates Inventory Build

Oil Prices Slip On Crude, Distillates Inventory Build

Apr 05, 2022 at 15:53 | Julianne Geiger

The American Petroleum Institute (API) reported a surprise build this week for crude oil of 1.080 million barrels, compared to analyst predictions of a 1.558 million barrel draw. U.S. crude…

West Set To ‘Swap’ 650,000 Bpd Russian Oil With Developing Asia

West Set To ‘Swap’ 650,000 Bpd Russian Oil With Developing Asia

Apr 05, 2022 at 15:21 | Tsvetana Paraskova

Developed economies allies of the U.S. and the EU are expected to replace around 650,000 barrels per day (bpd) of Russian crude oil with grades from other producers amid self-sanctioning,…

Canada’s Oil Boom Constrained By Workforce Shortage

Canada’s Oil Boom Constrained By Workforce Shortage

Apr 05, 2022 at 13:46 | Charles Kennedy

While $100 oil incentivizes increased production in Canada’s crude-producing province of Alberta, the ramp-up of production is being held back by an issue all too familiar to the U.S. shale…

Government Of OPEC Heavyweight Kuwait Resigns

Government Of OPEC Heavyweight Kuwait Resigns

Apr 05, 2022 at 12:28 | Tsvetana Paraskova

The government of Kuwait resigned on Tuesday as the political impasse in one of the largest OPEC producers deepened ahead of a vote of no-confidence in Parliament. Kuwait's Prime Minister…

Oxford-Based Start-up May Have Forced Breakthrough In Nuclear Fusion

Oxford-Based Start-up May Have Forced Breakthrough In Nuclear Fusion

Apr 05, 2022 at 11:42 | City A.M

The crown jewel of energy production, nuclear fusion using a projectile, may have been cracked in a major scientific breakthrough by a start-up in Oxford. First Light Fusion (FLF) was…

EU Pleads For Less Energy Use As Energy Crisis Intensifies

EU Pleads For Less Energy Use As Energy Crisis Intensifies

Apr 05, 2022 at 10:33 | Irina Slav

Turning down the thermostat by just one or two degrees Celsius could save some 10 percent of the energy that the EU imports from Russia, the Financial Times reported…

Canada To Invest $1.6 Billion In Battery Metals Supply

Canada To Invest $1.6 Billion In Battery Metals Supply

Apr 05, 2022 at 09:20 | Irina Slav

Canada will spend some $1.6 billion (C$2 billion) on building a battery mineral supply chain, Reuters has reported, citing two sources from the federal government in Ottawa. Nickel, lithium,…

UK Drivers Queue For Gasoline As Climate Activists Block Fuel Depots

UK Drivers Queue For Gasoline As Climate Activists Block Fuel Depots

Apr 04, 2022 at 14:38 | Charles Kennedy

Drivers in the UK have been queuing for fuel in recent hours after several days of climate protests culminated on Monday with a blockade of an oil facility near Heathrow…

EU Considers Energy Sanctions Against Russia Over War Crimes In Ukraine

EU Considers Energy Sanctions Against Russia Over War Crimes In Ukraine

Apr 04, 2022 at 12:31 | Tsvetana Paraskova

The European Union condemned on Monday the killing of unarmed civilians by Russian forces while retreating from Ukrainian towns and vowed a new wave of severe sanctions would follow against…

Gold Finds Stability As Recession Fears Rise

Gold Finds Stability As Recession Fears Rise

Apr 04, 2022 at 11:45 | City A.M

Gold markets have stabilized following three weeks of decline, recording an uptick of 0.36 percent despite upcoming interest rate hikes being priced into the market. Prices…

Semiconductor Sales Surge Despite Ongoing Supply Shortages

Semiconductor Sales Surge Despite Ongoing Supply Shortages

Apr 04, 2022 at 11:43 | Metal Miner

The Automotive Monthly Metals Index (MMI) increased by 8.1%, as palladium prices surged in the early part of the month and renewed COVID-related restrictions in China…

Tight Supply Sends U.S. East Coast Jet Fuel Price Surging

Tight Supply Sends U.S. East Coast Jet Fuel Price Surging

Apr 04, 2022 at 10:49 | Tsvetana Paraskova

The U.S. East Coast is currently seeing record high jet fuel prices as the global market of distillates is exceptionally tight after the Russian invasion of Ukraine and the return…

Discussion About Recommendations Delays UN Climate Report

Discussion About Recommendations Delays UN Climate Report

Apr 04, 2022 at 10:43 | Tsvetana Paraskova

The Intergovernmental Panel on Climate Change (IPCC) has delayed the release and presentation of the latest report on how policymakers could act to slow global warming as nations continued to…

Suspension Of Russian Oil, Gas Threatens Germany With Recession

Suspension Of Russian Oil, Gas Threatens Germany With Recession

Apr 04, 2022 at 10:05 | Charles Kennedy

Halting Russian oil and gas supplies to Germany would plunge Europe's largest economy into recession, German banks have warned. According to a Reuters report, the BDB industry body expects…

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