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Breaking News:

Asian Oil Imports Dropped in April

News

Is A U.S. Oil Export Ban “The Stupidest Thing You Could Ever Imagine”?

Is A U.S. Oil Export Ban “The Stupidest Thing You Could Ever Imagine”?

Mar 10, 2022 at 12:20 | Michael Kern

The idea to restrict or ban exports of U.S. crude oil and liquefied natural gas (LNG) is the “stupidest thing,” ConocoPhillips chief executive officer Ryan Lance said this week as…

Sky-High Steel Prices Leave China In A Precarious Position

Sky-High Steel Prices Leave China In A Precarious Position

Mar 10, 2022 at 11:03 | Metal Miner

The ongoing Russian-Ukraine conflict has impacted metal prices, including steel raw materials, and ferrous products prices. Metal prices, raw materials on the rise Iron…

Gold Climbs Above $2,000 As Ceasefire Talks Crumble

Gold Climbs Above $2,000 As Ceasefire Talks Crumble

Mar 10, 2022 at 10:57 | City A.M

Gold resumed its charge this afternoon after the price faltered this morning on hopes of diplomatic progress between Russia and Ukraine. The price fell to $1972…

Volkswagen Chief: Ukraine War Could Be Worse Than COVID For Europe

Volkswagen Chief: Ukraine War Could Be Worse Than COVID For Europe

Mar 10, 2022 at 10:50 | ZeroHedge

Volkswagen CEO Herbert Diess told the FT in an interview published Thursday that a prolonged war in Ukraine would be "very risky" for…

Palladium Prices Are Soaring As Russian Sanctions Sting

Palladium Prices Are Soaring As Russian Sanctions Sting

Mar 10, 2022 at 10:44 | Metal Miner

The Russian invasion of Ukraine has yielded commodity price volatility spanning across sectors. Russia is a major producer of platinum and palladium. Palladium primarily goes toward…

War-Related Oil Price Volatility Leaves Shale Acquisitions In Limbo

War-Related Oil Price Volatility Leaves Shale Acquisitions In Limbo

Mar 10, 2022 at 10:41 | Michael Kern

Confusion over asset valuation as oil prices are on their wildest ride in history over Russia’s invasion of Ukraine has put some deals in the U.S. shale patch on hold,…

Shell Is Betting Big On Offshore Wind Following UK Ban On Russian Oil

Shell Is Betting Big On Offshore Wind Following UK Ban On Russian Oil

Mar 10, 2022 at 10:18 | City A.M

Two energy giants will pump £75 million into offshore wind projects, which could light 8.5 million homes, as Britain looks to wean itself on dependence for Russian oil.…

Aramco Adds Pressure To Tight Diesel Market With Massive Purchase Tender

Aramco Adds Pressure To Tight Diesel Market With Massive Purchase Tender

Mar 10, 2022 at 09:28 | Charles Kennedy

In a rare move, Saudi Aramco has announced a tender for the purchase of between 1.2 and 4.6 million barrels of low-sulfur diesel fuel, adding pressure on an already tight…

U.S. Energy Secretary Calls On Oil Industry To Pump More

U.S. Energy Secretary Calls On Oil Industry To Pump More

Mar 10, 2022 at 08:40 | Irina Slav

U.S. Energy Secretary Jennifer Granholm has called on the oil industry to ramp up production in response to soaring fuel prices. "We are on a war footing," Granholm said at the…

Senator Warren Wants ‘’Windfall Tax’’ On Oil Profits

Senator Warren Wants ‘’Windfall Tax’’ On Oil Profits

Mar 09, 2022 at 16:20 | Julianne Geiger

As prices at the pump continue to rise for Americans, and as U.S. President Joe Biden warns oil and gas companies about price-gouging to take advantage of profits…

German Advisors Rule Out Extending Nuclear Plant Lifespan To Combat Energy Fears

German Advisors Rule Out Extending Nuclear Plant Lifespan To Combat Energy Fears

Mar 09, 2022 at 13:18 | ZeroHedge

The flip flopping in Germany over nuclear power continues, with Germany’s economy and environment ministries now reverting back to their old tune of advising against extending the life…

California County Rejects Exxon’s Plan To Restart Oil Wells

California County Rejects Exxon’s Plan To Restart Oil Wells

Mar 09, 2022 at 12:28 | Tsvetana Paraskova

The Santa Barbara County in California rejected this week a proposal from ExxonMobil to transport oil via tanker trucks that would have been a step toward restarting three oil…

Japan Considers Its Options After U.S. Ban On Russian Oil

Japan Considers Its Options After U.S. Ban On Russian Oil

Mar 09, 2022 at 10:29 | Charles Kennedy

Japan is considering its options about Russian oil after the United States banned on Tuesday U.S. imports of energy from Russia, including oil, coal, and LNG. Japan has been in…

U.S. Oil Import Ban To Leave More Russian Crude Unsold

U.S. Oil Import Ban To Leave More Russian Crude Unsold

Mar 09, 2022 at 09:26 | Tsvetana Paraskova

The U.S. decision to ban imports of Russian oil is likely to worsen Russia’s struggles to sell its cargoes as buyers will avoid Russian crude even more than they have…

Shale CEOs Meet With U.S. Officials Amid Surging Oil Prices

Shale CEOs Meet With U.S. Officials Amid Surging Oil Prices

Mar 09, 2022 at 08:53 | Tsvetana Paraskova

After more than a year of little to no dialogue with the U.S. oil industry, officials from the Biden Administration are set to meet with shale executives this week to…

EIA Hikes Oil Price Forecast To $105 This Year

EIA Hikes Oil Price Forecast To $105 This Year

Mar 09, 2022 at 08:29 | Tsvetana Paraskova

Brent Crude prices are expected to average $105.22 per barrel this year, the Energy Information Administration (EIA) said in its latest Short-Term Energy Outlook (STEO), significantly raising its February forecast…

Kazakhstan Braces For Economic Fallout From War In Ukraine

Kazakhstan Braces For Economic Fallout From War In Ukraine

Mar 08, 2022 at 17:35 | Eurasianet

Kazakhstan is facing economic crisis as the war in Ukraine threatens crude oil exports, which alone account for around 14 percent of GDP and 57…

EU Plans A “Potentially Massive” Bond Sale To Finance Energy And Defense

EU Plans A “Potentially Massive” Bond Sale To Finance Energy And Defense

Mar 08, 2022 at 17:24 | ZeroHedge

In an arrangement similar to the bloc's $2 trillion COVID rescue fund, the European Union has decided to jointly issue what Bloomberg dubbed "potentially massive" bond…

Large Draw In Distillate Inventories Lifts Oil Prices

Large Draw In Distillate Inventories Lifts Oil Prices

Mar 08, 2022 at 15:53 | Julianne Geiger

The American Petroleum Institute (API) estimated that there was a build this week for crude oil of 2.811 million barrels, largely in line with analyst predictions of a 2.796…

Putin Signs Decree To Ban Exports Of Raw Materials, Commodities

Putin Signs Decree To Ban Exports Of Raw Materials, Commodities

Mar 08, 2022 at 15:42 | Julianne Geiger

Russian President Vladimir Putin has signed a decree that institutes special economic measures that will be in effect until the end of this year. Part of those special economic…

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