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Oil Prices Gain 2% on Tightening Supply

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U.S. Warns Of Sanctions As Libya’s Oil Chaos Persists

U.S. Warns Of Sanctions As Libya’s Oil Chaos Persists

Jul 14, 2020 at 13:43 | Charles Kennedy

After Libya lifted and then declared again force majeure on all its oil exports in the span of just two days, the United States warned that parties in the…

Venezuela Restarts Gasoline Output At Only Operating Refinery

Venezuela Restarts Gasoline Output At Only Operating Refinery

Jul 14, 2020 at 12:05 | Tsvetana Paraskova

Venezuela’s state oil firm PDVSA has resumed gasoline production at the only operating refinery in the country home to the world’s largest oil reserves that is experiencing severe gasoline shortages,…

Italian Oil Major Looks To Leave Conventional Refining

Italian Oil Major Looks To Leave Conventional Refining

Jul 14, 2020 at 11:39 | Tsvetana Paraskova

Italian major Eni plans to exit traditional refining activities within the next decade as it is focused on bio-refineries and accelerating its transition to low-carbon energy, chief executive Claudio Descalzi…

Russian Gold Exports Top Natural Gas For First Time Ever

Russian Gold Exports Top Natural Gas For First Time Ever

Jul 14, 2020 at 10:59 | Charles Kennedy

The value of Russian gold exports has exceeded the country’s proceeds from natural gas exports for the first time in Russia’s modern history, due to low demand and prices for…

Army Corps Of Engineers To Appeal Against DAPL Shutdown

Army Corps Of Engineers To Appeal Against DAPL Shutdown

Jul 14, 2020 at 09:25 | Charles Kennedy

The U.S. Army Corps of Engineers has filed a notice of appeal at an appeals court against a district court decision to shut down the Dakota Access pipeline, Reuters

Shale CEO: U.S. Has Passed Peak Oil

Shale CEO: U.S. Has Passed Peak Oil

Jul 13, 2020 at 15:46 | Julianne Geiger

Crude oil production has already peaked in the United States, according to a leading independent oil producer in the U.S. shale patch. Chief executive of Parsley Energy Matt Gallagher said…

U.S. Natural Gas Prices Hit Record Lows In H1 2020

U.S. Natural Gas Prices Hit Record Lows In H1 2020

Jul 13, 2020 at 14:44 | Tsvetana Paraskova

The spot price of the U.S. natural gas benchmark Henry Hub hit record lows in the first half of 2020 due to mild winter early in the year and depressed demand…

U.S. Swaps Venezuelan Fuel Oil For Russian Products

U.S. Swaps Venezuelan Fuel Oil For Russian Products

Jul 13, 2020 at 13:32 | Tsvetana Paraskova

The United States has been raising its imports of fuel oil from Russia over the past year and a half after the U.S. imposed sanctions on Venezuela’s exports, Reuters reported on…

The Mysterious Origins Of Lithium

The Mysterious Origins Of Lithium

Jul 13, 2020 at 12:51 | MINING.com

The Sun is likely to produce lithium in the future, according to a new study by scientists at the National Astronomical Observatories of the Chinese Academy of Sciences.…

Oil Price Crash To Cost Middle East Producers $270 Billion In Revenue

Oil Price Crash To Cost Middle East Producers $270 Billion In Revenue

Jul 13, 2020 at 11:39 | Tsvetana Paraskova

The oil price plunge and the production cuts after the coronavirus pandemic will hit oil exporters in the Middle East and North Africa (MENA) hard, with the combined oil income…

The Best And Worst Commodities In 2020

The Best And Worst Commodities In 2020

Jul 13, 2020 at 11:30 | Frank Holmes

Every year around this time, we check in with raw materials for our popular commodities halftime report. This year, it wasn’t even a competition. Precious metals were the big winners…

U.S. Ups Pressure To Push Venezuela Oil Exports To Zero

U.S. Ups Pressure To Push Venezuela Oil Exports To Zero

Jul 13, 2020 at 10:59 | Charles Kennedy

The United States is pressing shippers, insurers, certification organizations, and flag states registering vessels not to work with Venezuela as the Trump Administration is looking to cut off Nicolas Maduro’s…

Iran Expands Oil Production Capacity

Iran Expands Oil Production Capacity

Jul 13, 2020 at 09:42 | Irina Slav

Iran is taking a step that would seem counterintuitive in an environment of subdued demand for oil and oil products: it is boosting its oil production capacity, Bloomberg reports, citing…

Gazprom’s Hold On European Gas Market Slips

Gazprom’s Hold On European Gas Market Slips

Jul 10, 2020 at 15:50 | Julianne Geiger

The record stockpile of natural gas in northwest Europe and Italy is eating into the regions’ thirst for Gazprom’s product, according to Reuters, and the Russian gas giant has lost…

Marathon Petroleum Restarts Texas Refinery

Marathon Petroleum Restarts Texas Refinery

Jul 10, 2020 at 15:20 | Julianne Geiger

Marathon Petroleum Corp (NYSE: MPC) began restarting its 585,000 bpd refining complex in Galveston Bay that has been shuttered for more than a month now, according to Reuters sources.…

U.S., Libya Suspect Maduro-Haftar Gold Trade Scheme

U.S., Libya Suspect Maduro-Haftar Gold Trade Scheme

Jul 10, 2020 at 14:48 | Tsvetana Paraskova

The United States and Libya are probing a suspected scheme in which eastern Libyan strongman Khalifa Haftar is allegedly paying Nicolas Maduro’s regime in Venezuela U.S. dollars in exchange for…

Shorts To Make Tesla The First Stock With $20 Billion Bet Against It 

Shorts To Make Tesla The First Stock With $20 Billion Bet Against It 

Jul 10, 2020 at 11:33 | Tsvetana Paraskova

Short interest on Tesla is set to make the EV maker's stock the first stock to hit US$20 billion in bets against it, data from financial analytics firm S3 Partners…

IEA Sees Lower-Than-Previously Expected Demand Loss This Year

IEA Sees Lower-Than-Previously Expected Demand Loss This Year

Jul 10, 2020 at 10:44 | Tsvetana Paraskova

Global oil demand is set to crash by 7.9 million barrels per day (bpd) this year, the International Energy Agency (IEA) said on Friday, but this forecast is slightly more…

Shell Idles Unit At Texas Refinery Due To Demand Crash

Shell Idles Unit At Texas Refinery Due To Demand Crash

Jul 10, 2020 at 09:31 | Charles Kennedy

Shell is idling a unit at the Deer Park, Texas, refinery for several months due to low demand for fuels, sources familiar with the refinery’s operations told Reuters. The 318,000-barrels-per-day…

Covid-19 Could Boost Fossil Fuels, Slow Renewables In Emerging Economies

Covid-19 Could Boost Fossil Fuels, Slow Renewables In Emerging Economies

Jul 09, 2020 at 16:28 | Oxford Business Group

Just as the pandemic has had an considerable impact on the global economy, travel restrictions and the suspension of industrial activities have led to an unprecedented drop in global emissions. According to data…

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