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Russia's LNG Expansion Plans Hit the Wall

Russia's LNG Expansion Plans Hit the Wall

The Kremlin has set an…

WTI Finds Support After Sell Off Suddenly Halts

WTI Finds Support After Sell Off Suddenly Halts

WTI crude found resistance at…

News

Oil Prices Fall On Rising Crude, Product Inventories

Oil Prices Fall On Rising Crude, Product Inventories

May 10, 2022 at 15:49 | Julianne Geiger

The American Petroleum Institute (API) reported a build this week for crude oil of 1.618 million barrels, compared to analyst predictions of a 1.2 million barrel draw. U.S. crude inventories…

Russian Gas Flows To Europe Via Ukraine To Stop Wednesday

Russian Gas Flows To Europe Via Ukraine To Stop Wednesday

May 10, 2022 at 13:15 | Julianne Geiger

Russian gas headed to Europe through Ukraine will stop flowing on Wednesday, Ukraine’s Gas Transmission System Operator (GTSOU) said on Tuesday. The flows will stop at 7 a.m. local time…

Oil Prices Go For Wild Ride On Heightened Volatility

Oil Prices Go For Wild Ride On Heightened Volatility

May 10, 2022 at 12:47 | Julianne Geiger

Crude oil prices remain exceptionally volatile on Tuesday, with WTI fluctuating between sub-$100 and nearly $104 per barrel after sinking from more than $110 on Monday as bearish and bullish…

Big Oil Sells Billions Of Dollars Of Assets To Less Transparent Firms

Big Oil Sells Billions Of Dollars Of Assets To Less Transparent Firms

May 10, 2022 at 12:00 | Charles Kennedy

Oil companies with climate goals and commitments are increasingly selling assets to private and less scrutinized operators with lower environmental standards, which does not help the global push to cut…

A Russian Gas Halt Would Hit European, North Africa Economies

A Russian Gas Halt Would Hit European, North Africa Economies

May 10, 2022 at 11:10 | Tsvetana Paraskova

Economies in central and southeastern Europe, the western Balkans, North Africa, and Central Asia could see their post-COVID recovery endangered if Russian gas supply is further disrupted, the European Bank…

UAE: Don't Blame OPEC+ For Oil Market Volatility

UAE: Don't Blame OPEC+ For Oil Market Volatility

May 10, 2022 at 09:52 | Tsvetana Paraskova

The extreme volatility in the oil market in recent weeks is the result of some buyers boycotting certain crudes and is not connected with OPEC+, and is outside the alliance's…

Brazil Unable To Raise Oil Production In Short Order

Brazil Unable To Raise Oil Production In Short Order

May 10, 2022 at 08:59 | Tsvetana Paraskova

Brazil’s state-owned oil giant Petrobras told U.S. government representatives in March that the company cannot raise production in short order to cover potential oil supply shortages after the Russian invasion…

Russian Energy Tycoon Dies From Toad Poison

Russian Energy Tycoon Dies From Toad Poison

May 10, 2022 at 08:08 | Julianne Geiger

A former executive with Russia’s Lukoil has died after a session with a local shaman attempted to alleviate the symptoms of a severe hangover with venom from a toad. It…

Novak: Russia’s Crude Production Up In May

Novak: Russia’s Crude Production Up In May

May 09, 2022 at 15:49 | Julianne Geiger

Russia’s crude oil production is on the rise so far in May, Deputy Prime Minister Alexander Novak told TASS news agency on Monday. Russia’s crude oil production slipped by half…

Oman Sees $930M Budget Surplus As Oil Revenues Soar

Oman Sees $930M Budget Surplus As Oil Revenues Soar

May 09, 2022 at 15:41 | Charles Kennedy

Oman has jumped from a budget deficit last year to a $930 surplus as of the end of the first quarter  of 2022, thanks to a significant increase…

Oil Stocks Plummet As Broader Markets Tanks

Oil Stocks Plummet As Broader Markets Tanks

May 09, 2022 at 14:01 | Charles Kennedy

Oil stocks are tanking amid a broader market selloff, as Wall Street responds to stubbornly high inflation that is expected to lead to more Federal Reserve policy tightening.   …

EU Set To Roll Out Permits For Renewables Projects At Faster Pace

EU Set To Roll Out Permits For Renewables Projects At Faster Pace

May 09, 2022 at 12:57 | Tsvetana Paraskova

The European Commission is expected to propose next week faster permitting for renewable energy projects as part of its plan to increase the uptake of renewable energy to cut reliance…

Libya To Open All Ports When Oil Revenue Dispute Is Resolved

Libya To Open All Ports When Oil Revenue Dispute Is Resolved

May 09, 2022 at 11:38 | Charles Kennedy

Libya expects to open all its oil loading terminals after it sets up a mechanism for a fair distribution of the country’s oil revenues among the regions, Parliament Speaker Aqila…

Record U.S. Strategic Oil Release Surprised IEA Partners

Record U.S. Strategic Oil Release Surprised IEA Partners

May 09, 2022 at 11:24 | Charles Kennedy

The record 180-million release from the U.S. Strategic Petroleum Reserve (SPR) came as a surprise for the International Energy Agency when it was announced in late March, since the Biden…

China Imports More Crude As Shipments From Russia Rise

China Imports More Crude As Shipments From Russia Rise

May 09, 2022 at 08:51 | Tsvetana Paraskova

China registered in April its first annual increase in crude oil imports since January as shipments rebounded on the back of higher arrivals from Russia, analysts say. Last month, China,…

High UK Gas Prices Could Persist Through 2025

High UK Gas Prices Could Persist Through 2025

May 09, 2022 at 08:49 | City A.M

High gas prices will persist for the next three years, warned investment bank Stifel, as millions of households struggle with the cost of living crisis. Supply…

Rivian Falls As Ford Dumps Millions Of Shares

Rivian Falls As Ford Dumps Millions Of Shares

May 09, 2022 at 08:42 | ZeroHedge

Adding to its prodigious losses - its shares have fallen more than 70% YTD - shares of electric carmaker Rivian continued to tumble on Monday following reports that…

U.S. Grid Operators Are Bracing For A Wave Of Blackouts

U.S. Grid Operators Are Bracing For A Wave Of Blackouts

May 09, 2022 at 08:36 | Irina Slav

Grid operators from a growing number of states are warning about electricity shortages as grids cannot cope with the imbalance between demand and supply heading into summer.

G7 Pledges To Stop Buying Russian Oil

G7 Pledges To Stop Buying Russian Oil

May 09, 2022 at 07:35 | Irina Slav

Members of G7 committed to decreasing their purchases of Russian oil amid the war in Ukraine at a virtual meeting this weekend. Per an AFP report, the United States, France,…

Russia's Victory Day Could Be A Crucial Moment For Oil

Russia's Victory Day Could Be A Crucial Moment For Oil

May 06, 2022 at 14:45 | Charles Kennedy

While the Kremlin has publicly stated that it won’t be declaring war on Ukraine or announcing a military mobilization on Victory Day on May 9, the markets are…

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