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Iraq Hopes to Expand Economic Relationship With the U.S.

Iraq Hopes to Expand Economic Relationship With the U.S.

Sudani wants to strengthen Baghdad’s…

Nigeria To Launch Crude Trading at its Commodity Exchange

Nigeria To Launch Crude Trading at its Commodity Exchange

Africa’s biggest oil producer, Nigeria,…

News

Coal Prices Reach Highest Since 2008

Coal Prices Reach Highest Since 2008

Mar 03, 2022 at 10:26 | Irina Slav

The war in Ukraine is pushing most commodities higher, and coal is no exception. Bloomberg reported this week that the coal prices are reaching new record highs, with the…

U.S. Refiners Cut Russian Oil Imports

U.S. Refiners Cut Russian Oil Imports

Mar 03, 2022 at 09:25 | Charles Kennedy

Some of the biggest U.S. importers of Russian crude oil have started suspending their purchases of the commodity, including Monroe Energy, which is the third-biggest U.S. buyer of Russian oil.…

Italy Halts Funding For $21 Billion Arctic LNG 2 Project

Italy Halts Funding For $21 Billion Arctic LNG 2 Project

Mar 02, 2022 at 14:19 | Julianne Geiger

Italy has halted its share of the financing for the Arctic LNG 2 project, as Western companies and countries continue to sell their stakes in Russian energy projects, even absent…

Russia Fails To Meet OPEC+ Quota Again Despite Rising Oil Production

Russia Fails To Meet OPEC+ Quota Again Despite Rising Oil Production

Mar 02, 2022 at 13:46 | Charles Kennedy

Russia is estimated to have increased its crude oil production by 0.2 percent in February compared to January, but it is still likely more than 130,000 barrels per day (bpd)…

The Escalating War In Ukraine Has Sparked A Boom In Base Metals

The Escalating War In Ukraine Has Sparked A Boom In Base Metals

Mar 02, 2022 at 13:39 | Metal Miner

To say the situation in Ukraine — and its impact on metal prices — is constantly evolving situation would be an understatement. No sooner is the position defined…

The Gulf's Largest Economy Is Taking Advantage Of Triple Digit Oil Prices

The Gulf's Largest Economy Is Taking Advantage Of Triple Digit Oil Prices

Mar 02, 2022 at 13:31 | Oxford Business Group

As oil prices reach seven-a-half-year highs, a number of countries in the Middle East have unveiled fiscal measures designed to balance their budgets after two years of pandemic-related…

UK LNG Workers Call On Government To Stop Inbound Russian Tankers

UK LNG Workers Call On Government To Stop Inbound Russian Tankers

Mar 02, 2022 at 13:14 | City A.M

The government must immediately intervene to stop two Russian tankers – containing enough liquid gas to supply the UK for up to 12 days – from docking in…

Ford Shares Rise As It Announces Plans To Separate Its ICE And EV Segments

Ford Shares Rise As It Announces Plans To Separate Its ICE And EV Segments

Mar 02, 2022 at 12:30 | ZeroHedge

It may not be the spin-off that Wall Street was hoping for, but Ford is slated to announce that it is going to undergo a re-organization wherein it will separate…

KKR, Pembina Combine Canada Gas Assets In $9 Billion Deal

KKR, Pembina Combine Canada Gas Assets In $9 Billion Deal

Mar 02, 2022 at 11:17 | Charles Kennedy

Private equity giant KKR and Pembina Pipeline Corp. have sealed a deal to combine their natural gas assets in western Canada in a deal worth almost $9 billion in a…

Germany Urges Iran To Revive Nuclear Deal

Germany Urges Iran To Revive Nuclear Deal

Mar 02, 2022 at 10:11 | RFE/RL staff

German Chancellor Olaf Scholz has urged Iran to move quickly to resolve any remaining issues and reach an agreement to revive a 2015 deal on its nuclear program. "What we…

ExxonMobil Quits Russia

ExxonMobil Quits Russia

Mar 02, 2022 at 09:21 | Irina Slav

ExxonMobil will exit the Sakhalin-1 oil project in Russia, following the example of other Big Oil majors, including BP and Shell, who quit their Russian operations following the Russian invasion…

OPEC+ Sticks To Production Plan Despite $111 Oil

OPEC+ Sticks To Production Plan Despite $111 Oil

Mar 02, 2022 at 08:21 | Tsvetana Paraskova

The OPEC+ group decided on Wednesday to rubberstamp another 400,000 barrels per day (bpd) increase in its collective oil production in April, despite soaring oil prices after a key…

Chevron: Biden Can Lower High Crude Prices If He Supports U.S. Oil

Chevron: Biden Can Lower High Crude Prices If He Supports U.S. Oil

Mar 01, 2022 at 17:51 | Charles Kennedy

The Biden Administration could couple releases from the Strategic Petroleum Reserve (SPR) with a longer-term policy to support the U.S. oil industry if it wants to reduce the soaring gasoline…

Oil Inches Closer To $110 As API Reports Surprise Inventory Draw

Oil Inches Closer To $110 As API Reports Surprise Inventory Draw

Mar 01, 2022 at 16:15 | Julianne Geiger

The American Petroleum Institute (API) estimated that there was a large surprise draw this week for crude oil of 6.1 million barrels after analysts predicted a build of 2.796…

Russia Struggles To Sell Its Oil After Ukraine Invasion

Russia Struggles To Sell Its Oil After Ukraine Invasion

Mar 01, 2022 at 14:44 | Tsvetana Paraskova

Oil traders are staying away from Russian crude after the Western countries banned selected Russian banks from SWIFT, and Russian producers can’t sell their cargoes in tenders because no one…

Bitcoin And Green Stocks Rally Amid War In Ukraine

Bitcoin And Green Stocks Rally Amid War In Ukraine

Mar 01, 2022 at 13:22 | City A.M

Talks in Belarus between the Ukrainian and Russian committees yesterday were overshadowed by the intensifying military fight in Ukraine. Putin, who seems frustrated with the Ukrainian…

SWIFT Ban Hits Russian Coal Exports To China

SWIFT Ban Hits Russian Coal Exports To China

Mar 01, 2022 at 13:12 | Charles Kennedy

Chinese buyers of coal are having trouble securing financing to buy coal from Russia, the world’s third-largest coal exporter, as China’s banks are wary of sanctions themselves after selected Russian…

EU Slaps Sanctions On Russian Steel Magnates

EU Slaps Sanctions On Russian Steel Magnates

Mar 01, 2022 at 12:55 | Metal Miner

Continuing our coverage of the Russian invasion of Ukraine and its impact on steel prices, aluminum prices and more, the European Union has brought sanctions against two Russian…

Azerbaijan Is Walking A Fine Line Between Ukraine And Russia

Azerbaijan Is Walking A Fine Line Between Ukraine And Russia

Mar 01, 2022 at 12:23 | Eurasianet

Amid Russia’s attack on Ukraine, Azerbaijan has been trying to maintain good relations with both countries, sending humanitarian aid to Ukraine just days after signing…

Nord Stream 2 Could File For Insolvency After Sanctions Hit

Nord Stream 2 Could File For Insolvency After Sanctions Hit

Mar 01, 2022 at 11:30 | Tsvetana Paraskova

The Switzerland-registered owner of the Nord Stream 2 natural gas pipeline project could file for insolvency in a Swiss court as soon as this week, following the U.S. sanctions over…

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