U.S. sanctions UAE shipping firm for violating Russian crude oil price cap
WASHINGTON (Reuters) – The U.S. Treasury on Thursday said it imposed sanctions on a United Arab Emirates-based shipping company for violating the $60-per-barrel price cap on Russian crude oil exports in its…
Instant view: China’s soybean and copper imports fall on year, crude oil up
(Reuters) – China’s exports and imports shrank at a slower pace for a second month in September, customs data showed on Friday, adding to the recent signs of a gradual stabilisation in…
US judge refuses to overturn Exxon permit denial to truck crude oil in California
By Clark Mindock (Reuters) – A U.S. judge on Wednesday refused to overturn a California county’s decision to block Exxon Mobil Corp from using tanker trucks to ship crude oil from coastal…
US crude prices above $90/bbl ignite inflation worries
By Arathy Somasekhar HOUSTON (Reuters) – Crude oil prices above $90 a barrel in the United States stirred worries that inflation could rise further in an economy where the Federal Reserve has…
China’s ‘teapot’ refiners mop up swelling Iranian crude, defying U.S. curbs
By Muyu Xu SINGAPORE (Reuters) – Appetite for Iranian crude is growing in China, the world’s biggest oil importer, after the extension of supply cuts by Saudi Arabia and Russia boosted global…
US says it disrupts illicit oil shipment by Iran’s IRGC, seizes contraband crude
By Arathy Somasekhar and Jonathan Saul HOUSTON (Reuters) -The U.S. on Friday divulged it disrupted in April a multimillion-dollar shipment of crude oil by Iran’s Islamic Revolutionary Guard Corps, seizing more than…
Analysis-Asia’s refiners face profit crunch as Kuwait cuts crude exports
By Muyu Xu SINGAPORE (Reuters) – Asian refiners are on the hunt for crude oil to replace Kuwaiti supply as the OPEC producer cuts exports by nearly a fifth to feed its…
Exclusive – Mexico’s Pemex to lose some 100,000 bpd of crude this month after fire – source
By Ana Isabel Martinez MEXICO CITY (Reuters) – Mexico’s state oil company Petroleos Mexicanos will see its crude output reduced by some 100,000 barrels per day (bpd) until the beginning of August…
Record U.S. crude exports, rising shale output boosts oil flow to Houston
By Arathy Somasekhar HOUSTON (Reuters) – Oil pipelines from the top U.S. shale field to Houston that have run half empty are filling again as rising output has absorbed most of the…
In change for oil market, new US crude in Brent index lacks loading plan
By Alex Lawler LONDON (Reuters) – The U.S. crude oil being added to the global Brent benchmark will lack the list of cargoes scheduled to load that could help set the price,…
OPEC+ may spur U.S. crude oil exports, tick production higher
By Stephanie Kelly and Liz Hampton (Reuters) – OPEC’s surprise oil production cuts could lead to higher demand for U.S. oil in Europe and Asia and could encourage some other producers to…
TSX set for higher open as crude oil prices soar
Canada’s main stock index edged up on Monday, tracking strength in crude oil prices, while investors watched out for March manufacturing activity data due later in the day. June futures on the…
Marketmind: Crude cut complicates Q2
A look at the day ahead in U.S. and global markets from Mike Dolan An aggravating jump in crude oil prices greets the start of the second quarter as investors try to…
China Jan-Feb crude steel output up 5.6 % on yr – stats bureau
BEIJING (Reuters) – China’s crude steel output in the first two months of 2023 rose 5.6% from a year earlier, official data showed on Wednesday, as many domestic steel mills ramped up…
Exclusive-Russian crude oil heads to UAE as sanctions divert flows
By Alex Lawler LONDON (Reuters) – The United Arab Emirates has been taking more cargoes of Russian crude oil, according to ship tracking data and trading sources, in another example of how…
Factbox-How the EU ban on Russian crude affects oil flows
(Reuters) – Russian crude oil exports to the European Union slipped to around 600,000 barrels per day (bpd) in January as seaborne volumes dried up except to Bulgaria, International Energy Agency (IEA)…
U.S. crude and petroleum products demand rises in November -EIA
NEW YORK (Reuters) -Demand for U.S. crude and petroleum products rose 178,000 barrels per day (bpd) in November to 20.59 million bpd, the highest since August, the U.S. Energy Information Administration (EIA)…
SUZANNE DOWNING: Biden’s Crude Oil Supply Raid Has Plunged America Into Crisis
SUZANNE DOWNING: Biden’s Crude Oil Supply Raid Has Plunged America Into Crisis Suzanne Downing on January 29, 2023 Rep. Steve Scalise of Louisiana got it right: Over the past two years, President…
U.S. crude stocks highest since June 2021 as fuel demand falls -EIA
By Laura Sanicola (Reuters) – U.S. crude inventories rose last week as demand for fuels tapered off, and while the increase was less than expected, crude stocks reached the highest level since…
EIA data shows surprise U.S. crude stock build after winter storm
By Arathy Somasekhar HOUSTON (Reuters) – U.S. crude stocks built unexpectedly last week, the Energy Information Administration said, as refiners were slow to restore production after a cold freeze that shut operations.…
Morgan Stanley sees Brent crude oil back at around $110/bbl by mid-2023
(Reuters) – Morgan Stanley on Wednesday said it expects Brent crude oil prices to rally to around $110 per barrel level by mid-2023, citing support from rising demand and continued supply tightness.…
U.S. crude stocks soar by more than 10 million barrels – EIA
By Arathy Somasekhar (Reuters) – U.S. crude oil stockpiles rose by more than 10 million barrels last week, the most since March 2021, buoyed by releases from the Strategic Petroleum Reserve and…
Azerbaijan’s SOCAR halts Russian crude supplies to Turkish refinery
By Rowena Edwards and Julia Payne LONDON/MOSCOW (Reuters) – Azerbaijan’s state oil firm SOCAR has paused purchases of Russian crude oil for its Turkish refinery, industry sources said, in a sign Western…
Marketmind: Bonds lap up crude, costs and Canada
A look at the day ahead in U.S. and global markets from Mike Dolan. The big consensus bet of 2023 is already in full swing – bonds are bid. Although they backed…
U.S. crude stocks drop; fuel stocks post large builds -EIA
By Stephanie Kelly (Reuters) – U.S. crude stocks fell in the latest week while gasoline and distillate inventories posted big builds, as oil refiners’ utilization climbed to the highest since 2019, the…
Marketmind: Crude deflation?
A look at the day ahead in U.S. and global markets from Mike Dolan. With everyone on Wall St seemingly hand wringing about stagflation next year, the price of crude oil has…
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