 |
Louisiana Light • 5 days | 61.44 | +0.30 | +0.49% | ||
|
Bonny Light • 449 days | 78.62 | -2.30 | -2.84% | ||
|
Opec Basket • 2 days | 64.91 | +0.08 | +0.12% | ||
|
Mars US • 739 days | 70.71 | -0.96 | -1.34% | ||
|
Gasoline • 13 mins | 2.009 | -0.003 | -0.15% |
|
Bonny Light • 449 days | 78.62 | -2.30 | -2.84% | ||
|
Girassol • 449 days | 79.56 | -1.80 | -2.21% | ||
|
Opec Basket • 2 days | 64.91 | +0.08 | +0.12% |
|
Peace Sour • 22 hours | 52.13 | +0.38 | +0.73% | ||
|
Light Sour Blend • 22 hours | 52.38 | +0.38 | +0.73% | ||
|
Syncrude Sweet Premium • 22 hours | 56.63 | +0.38 | +0.68% | ||
|
Central Alberta • 22 hours | 51.98 | +0.38 | +0.74% |
|
Eagle Ford • 2 days | 56.61 | +0.38 | +0.68% | ||
|
Oklahoma Sweet • 2 days | 56.75 | +0.50 | +0.89% | ||
|
Kansas Common • 2 days | 46.96 | +0.38 | +0.82% | ||
|
Buena Vista • 226 days | 70.40 | +1.10 | +1.59% |
South America to Anchor Non-OPEC+ Oil Supply Through 2030
Rystad Energy projects South America…
Why U.S. Energy Bills Are Set To Keep Rising
U.S. electricity prices are set…
North American Banks Boost Fossil Fuel Funding as European Lenders Retreat
Regional banks in North America have been striking more deals to lend money to the oil, natural gas, and coal industry in recent years, while many European lenders have either shrunk financing for fossil fuels or pledged to lower their exposure to the sector.
As a result of the ongoing shift in financing deals in the fossil fuels sector, North American banks are not competing with European lenders for financing oil and gas anymore.
Regional banks Texas Capital Bank, Truist Securities Inc, FHN Financial, Cadence Bank, BOK Financial Corp, and Canadian Western Bank have boosted the most the number of their loan deals in the fossil fuel sector since 2022, compared with the 2016-2021 period, data compiled by Bloomberg showed on Tuesday.
At the same time, the banks that have seen the biggest retreat in the number of loan deals in the industry are France’s BNP Paribas, Natixis, and Societe Generale, Spain’s BBVA, and Dutch ING Groep, according to Bloomberg’s data.
Regional banks in North America are “active and hungry” for new deals in the fossil fuels industry, Marisol Salazar, senior vice president and manager for energy banking at BOK Financial, told Bloomberg.
While major European banks are competing to announce new policies limiting funding to oil and gas projects, smaller regional U.S. banks have boosted significantly their lending to oil and gas firms over the past two years.
Regional U.S. banks are also seeing a growing pool of customers in the fossil fuel industry. This comes as European banks are re-evaluating their funding for oil and gas, and energy-rich U.S. states are leading an anti-ESG drive to blacklist major financial corporations and asset managers, which they believe are discriminating against the oil and gas industry.
U.S. states with large fossil fuel industries, such as Texas, West Virginia, Louisiana, Montana, and Oklahoma, have blacklisted funds managed by the world’s biggest asset manager BlackRock and other major banks and financial institutions, which, the states say, are boycotting the oil and gas industry.
By Charles Kennedy for Oilprice.com
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George Doolittle on September 11 2024 said:I don't think Europe is *"pulling back"* I think all of Europe is being consumed by a crisis caused by not able to formulate a collective response as relates to Ukraine and the now stated policy of *"buffer zone"* Ukraine inside Russia. This being grade school kindergarten stuff for Europe to do this I think a massive financial panic is underway over there having begun by...just like 2008...failure to coordinate with the US Federal Reserve on how to properly effect an easing policy with Canada doing the same thing needs noting. This has lead to very strong stench of the USA now engaging in some type of currency War which is great news for the war mongers out there and probably why Dick Cheney now claims to be a far left Democrat but yes now is not the time to ruin the USA because someone needs a body count of Americans to save Israel and that is what is on the ballot this November if not worse.
George Doolittle on September 11 2024 said:
Open57.81
Trading Vol.6.96M
Previous Vol.241.7B
