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News

China’s Government May Be Selling Oil, But Its Refiners Are Desperate To Buy

China’s Government May Be Selling Oil, But Its Refiners Are Desperate To Buy

Sep 14, 2021 at 14:01 | Charles Kennedy

Refiners and analysts expect China to issue soon a new batch of crude oil import quotas for independent refiners, which is boosting the spot prices of the most popular grades…

IEA: Oil Supply Losses From Hurricane Ida Reach 30 Million Barrels

IEA: Oil Supply Losses From Hurricane Ida Reach 30 Million Barrels

Sep 14, 2021 at 13:36 | Tsvetana Paraskova

Hurricane Ida, which stormed through Louisiana at the end of August, has led to oil supply losses of 30 million barrels so far, driving the first decline in global oil…

Are ETF Investors Too Optimistic About Electrification?

Are ETF Investors Too Optimistic About Electrification?

Sep 14, 2021 at 12:08 | Ag Metal Miner

Exchange-traded funds, or ETFs, are sometimes punted as an alternative to direct investments on metals exchanges, like the LME or CME. But in reality, it is…

California's Top Oil Producing County Sues Governor Newsom

California's Top Oil Producing County Sues Governor Newsom

Sep 14, 2021 at 11:56 | Charles Kennedy

California’s Kern County sued Governor Gavin Newsom “for violating the California Constitution and disregarding multiple State laws” with legislation and proposed legislation to restrict oil production and ban fracking…

China To Auction First 7.4 Million Barrels Of Oil From SPR

China To Auction First 7.4 Million Barrels Of Oil From SPR

Sep 14, 2021 at 11:39 | Tsvetana Paraskova

China will hold the first auction of crude from its strategic reserves on September 24, launching the unprecedented sale of oil from the national stockpiles it announced last week in…

Europe’s Energy Crisis Worsens As Wind Stops Blowing

Europe’s Energy Crisis Worsens As Wind Stops Blowing

Sep 14, 2021 at 09:27 | Irina Slav

Energy prices in Europe have hit records due to a shortage of natural gas and much lower than expected wind power output, the Wall Street Journal has reported. Some…

U.S. Gasoline Prices Hit 7-Year High

U.S. Gasoline Prices Hit 7-Year High

Sep 13, 2021 at 17:45 | Julianne Geiger

U.S. gasoline prices are now the highest that they’ve been in seven years, even as the summer driving season has drawn to a close, denting…

Nord Stream 2 In Limbo As Germany Prepares To Decide On Key License

Nord Stream 2 In Limbo As Germany Prepares To Decide On Key License

Sep 13, 2021 at 17:22 | Tsvetana Paraskova

Germany’s federal networks regulator BNA said on Monday it would decide no later than January 8, 2022 whether it will certify Nord Stream 2 and issue an operating license…

Gasoline Or Electric: Which Is The Best Car For A Road Trip?

Gasoline Or Electric: Which Is The Best Car For A Road Trip?

Sep 13, 2021 at 13:25 | Charles Kennedy

Tesla is better for road trips than a non-Tesla electric vehicle because of Tesla’s larger and more up-to-date Supercharger proprietary charging network, although both EVs finished behind a gasoline-powered car…

UN Atomic Watchdog Urges Iran To Come Clean On Uranium Enrichment Program

UN Atomic Watchdog Urges Iran To Come Clean On Uranium Enrichment Program

Sep 13, 2021 at 12:54 | RFE/RL staff

The head of the UN atomic watchdog has called on Iran to provide explanations for the presence of uranium particles at several undeclared sites and to adhere to its 

Wells Fargo Back In The Scandal Spotlight Following $250 Million Fine

Wells Fargo Back In The Scandal Spotlight Following $250 Million Fine

Sep 13, 2021 at 12:44 | Michael Kern

So it seems that the unofficial rule of thumb is that if the U.S. financial regulators have a slow month, they just slap Wells Fargo

Covid Losses Force Industrial Heavyweights To Sell Stakes In Aviation Giant

Covid Losses Force Industrial Heavyweights To Sell Stakes In Aviation Giant

Sep 13, 2021 at 12:21 | City A.M

Babcock and Rolls-Royce, which owned a combined 40 percent of Air Tanker, are both on something of a disposal spree after taking a hefty hit from the pandemic.…

OPEC+ Raises Oil Production But Remains Compliant

OPEC+ Raises Oil Production But Remains Compliant

Sep 13, 2021 at 10:52 | Tsvetana Paraskova

OPEC saw its crude oil production rise by 150,000 barrels per day (bpd) in August, data from secondary sources in the cartel’s monthly report showed, but even at…

China’s Heavy-Handed Solution To The Semiconductor Shortage

China’s Heavy-Handed Solution To The Semiconductor Shortage

Sep 13, 2021 at 10:44 | ZeroHedge

China is taking a page out of the Keynesian central banking playbook on how to micromanage an entire economy and is now reportedly fining auto chip sales companies…

Is Toyota Pivoting Away From Hydrogen Fuel Cells?

Is Toyota Pivoting Away From Hydrogen Fuel Cells?

Sep 13, 2021 at 10:43 | Haley Zaremba

Toyota is finally trying to get in on the electric vehicle (EV) revolution. The Japanese automaker has been dragging its feet for years, investing its time, money, and…

Nickel Prices Continue To Rise

Nickel Prices Continue To Rise

Sep 13, 2021 at 10:31 | Ag Metal Miner

When Chinese steel group Tsingshan announced its Indonesian nickel operations would supply matte — a form of the metal used only for stainless…

What Norway’s Elections Mean For Its Oil And Gas Industry

What Norway’s Elections Mean For Its Oil And Gas Industry

Sep 13, 2021 at 09:32 | Charles Kennedy

Norway is voting today in parliamentary elections whose outcome will likely set the pace for the decarbonization of the country's oil and gas industry. Reuters reports that the most…

A New Storm Is Barreling Towards Texas Oil Terminals

A New Storm Is Barreling Towards Texas Oil Terminals

Sep 13, 2021 at 09:20 | Michael Kern

A storm developing in the southwestern Gulf of Mexico could become the next hurricane to wreak havoc on Gulf Coast oil facilities. Per a report by Argus, the system…

66% Of Gulf Of Mexico Oil Production Still Offline On Friday

66% Of Gulf Of Mexico Oil Production Still Offline On Friday

Sep 10, 2021 at 16:28 | Julianne Geiger

The largest deepwater crude oil terminal in the United States has reopened in full after Hurricane Ida struck force a closure, a spokesperson said on Friday, according to Reuters. The…

Two Libyan Ports Resume Operations After Protests Stopped Oil Loading

Two Libyan Ports Resume Operations After Protests Stopped Oil Loading

Sep 10, 2021 at 14:43 | Charles Kennedy

Two of Libya’s key oil export terminals have resumed loading crude on tankers, after protests had stopped operations earlier this week. The Es Sider and Ras Lanuf oil terminals resumed…

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