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News

Oil Prices Hold Gains Following Crude Inventory Draw

Oil Prices Hold Gains Following Crude Inventory Draw

Dec 28, 2021 at 16:58 | Julianne Geiger

This week, the American Petroleum Institute (API) estimated the inventory draw for crude oil to be 3.09 million barrels. U.S. crude inventories have shed some 68 million barrels since the…

Global Steel Prices Are Cooling Off As Production Declines

Global Steel Prices Are Cooling Off As Production Declines

Dec 28, 2021 at 08:54 | Ag Metal Miner

Steel prices continue to cool heading toward the year’s end, MetalMiner Insights data indicate; meanwhile, global crude steel production continued to decline in…

U.S. Natural Gas Rise As Colder Weather Rushes In

U.S. Natural Gas Rise As Colder Weather Rushes In

Dec 28, 2021 at 08:14 | Charles Kennedy

U.S. natural gas futures rose this week as colder weather with snow came into parts of the country. Although substantially lower than Asian or European gas prices, U.S. January futures…

China Oil Demand Seen Peaking In 2030

China Oil Demand Seen Peaking In 2030

Dec 27, 2021 at 10:46 | Irina Slav

Crude oil demand in China is set to peak in 2030, until then driven by robust petrochemicals demand, research from state oil giant CNPC has suggested. This is a revision…

Japan To Sell Crude Oil From State Reserves In February

Japan To Sell Crude Oil From State Reserves In February

Dec 27, 2021 at 10:06 | Tsvetana Paraskova

Japan plans to auction in February 629,000 barrels of crude oil from its national reserves as part of a U.S.-led global effort by oil-consuming nations to lower prices.   Japan’s…

Iran Wants Sanctions Lifted on Oil Exports In Nuclear Talks

Iran Wants Sanctions Lifted on Oil Exports In Nuclear Talks

Dec 27, 2021 at 09:01 | Tsvetana Paraskova

Iran will prioritize an agreement to be able to legitimately return to exporting its oil during the new round of nuclear talks that began in Vienna today.  “The most important…

Russia’s Extra Gas Flows To Europe Remain Low For A Week

Russia’s Extra Gas Flows To Europe Remain Low For A Week

Dec 27, 2021 at 07:48 | Tsvetana Paraskova

Russia’s Gazprom hasn’t booked transit capacity for Monday for natural gas exports via a key pipeline route to Germany, which was sending gas eastwards for a sixth consecutive day. Gazprom…

Europe Faces Rolling Blackouts Amid Energy Crisis

Europe Faces Rolling Blackouts Amid Energy Crisis

Dec 24, 2021 at 10:29 | ZeroHedge

Europe's energy crisis worsened this week when Kosovo introduced rolling blackouts to most of its two million citizens, according to Bloomberg.  On Thursday, the Kosovo Energy Distribution…

Fire Injures Four At Exxon Refinery

Fire Injures Four At Exxon Refinery

Dec 23, 2021 at 09:20 | Tsvetana Paraskova

A fire broke out early today at the Baytown refinery operated by Exxon, injuring four people. Law enforcement has called the fire a major industrial incident, the Wall Street Journal…

India To Consider Stopping New Coal Plants Construction

India To Consider Stopping New Coal Plants Construction

Dec 22, 2021 at 10:13 | Tsvetana Paraskova

India is reviewing a proposal to stop new coal-fired capacity construction under a plan to meet its climate pledges, Indian outlet The Economic Times reported on Wednesday, quoting sources…

Libya’s Election Chaos Threatens Oil Production And Exports

Libya’s Election Chaos Threatens Oil Production And Exports

Dec 22, 2021 at 09:10 | Tsvetana Paraskova

Libya’s oil production and exports are threatened again as the presidential election slated for December 24 will likely be postponed. Armed groups descended in the capital Tripoli on Tuesday…

Oil Prices Rise As API Confirms Crude Inventory Draw

Oil Prices Rise As API Confirms Crude Inventory Draw

Dec 21, 2021 at 16:10 | Julianne Geiger

This week, the American Petroleum Institute (API) estimated the inventory draw for crude oil to be 3.670 million barrels. U.S. crude inventories have shed some 65 million barrels since the…

New Oil And Gas Projects In UK Need To Pass Net-Zero Test

New Oil And Gas Projects In UK Need To Pass Net-Zero Test

Dec 21, 2021 at 09:51 | Tsvetana Paraskova

The UK will still allow the development of new oil and gas oilfields in the North Sea if they pass a so-called net-zero test, the government said on Monday…

CNOOC To Take First LNG Cargo From U.S. Exporter

CNOOC To Take First LNG Cargo From U.S. Exporter

Dec 21, 2021 at 09:15 | Tsvetana Paraskova

China National Offshore Oil Corporation (CNOOC), the largest Chinese importer of liquefied natural gas, has signed a deal with U.S. firm Venture Global LNG to buy LNG from a new…

Libya Declares Force Majeure On Crude Oil Exports

Libya Declares Force Majeure On Crude Oil Exports

Dec 20, 2021 at 14:58 | Julianne Geiger

Libya has declared a force majeure on oil exports, even as oil prices worldwide are crashing. Libya’s National Oil Company (NOC) has said that crude oil production has been shut…

Russia Reluctant To Boost Gas Flows As Cold Snap Hits Europe

Russia Reluctant To Boost Gas Flows As Cold Snap Hits Europe

Dec 20, 2021 at 11:39 | Irina Slav

Natural gas exports from Russia via the Yamal-Europe pipeline will remain limited at the start of this week as true winter begins and Russia keeps more gas for domestic consumption,…

India Launches Biggest Its Biggest Ever Oil Tender

India Launches Biggest Its Biggest Ever Oil Tender

Dec 20, 2021 at 09:08 | Charles Kennedy

India launched a tender for 75 oil and gas blocks—the biggest oil and gas tender in the history of its industry. The tender is for so-called discovered small fields, or…

Lukoil: Here's How Oil Could Hit $380 Per Barrel In 2050

Lukoil: Here's How Oil Could Hit $380 Per Barrel In 2050

Dec 17, 2021 at 17:19 | Tsvetana Paraskova

Oil prices are set to exceed $100 per barrel in all three scenarios for global energy developments through 2050, with inflation and carbon prices potentially sending oil to $380 a…

Russian Lawmaker: Nord Stream 2 Could Become Operational Next Month

Russian Lawmaker: Nord Stream 2 Could Become Operational Next Month

Dec 17, 2021 at 13:00 | Tsvetana Paraskova

The Russia-led Nord Stream 2 pipeline could start shipping natural gas to Germany as early as next month, as Europe would not want to drag its feet with the certification…

France Closes Two Nuclear Plants After Finding Cracks In The Infrastructure

France Closes Two Nuclear Plants After Finding Cracks In The Infrastructure

Dec 17, 2021 at 10:58 | ZeroHedge

Électricité de France S.A., commonly known as EDF, a French electric utility company primarily owned by the state, shuttered two nuclear power plants after routine safety inspections found…

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