Overturned oil tanker carrying diesel fuel shuts down US 9 in Lakewood
LAKEWOOD, N.J. — An overturned tanker carrying thousands of gallons of diesel fuel has shut down all lanes of U.S. Route 9 in both directions north of James Street in Lakewood Township…
Activist Climate Group Files Legal Action Against Shell Oil Board Over Plan To Curb Emissions
Activist Climate Group Files Legal Action Against Shell Oil Board Over Plan To Curb Emissions Thomas Catenacci on March 15, 2022 An activist group specializing in climate litigation initiated a legal action…
Exclusive-Hellenic clinches initial deal to ramp up crude oil supplies from Saudi Arabia
ATHENS – Hellenic Petroleum, Greece’s biggest oil refiner, has clinched an initial deal to get additional crude oil supplies from Saudi Arabia, two sources from the refiner said on Tuesday. “There has…
American Airlines cuts first-quarter capacity forecast as oil prices surge
– American Airlines Group Inc cut its current-quarter capacity forecast on Tuesday, as airlines grapple with high fuel prices due to the Russia-Ukraine war. (Reporting by Abhijith Ganapavaram in Bengaluru; Editing by…
Barclays suspends sales of two products linked to oil, volatility
By Iain Withers and Saqib Iqbal Ahmed LONDON/NEW YORK – British bank Barclays said on Monday it had suspended the sales and issuance of two exchange-traded notes (ETNs) with combined assets of…
India Could Accept Huge Russian Oil Offer After US Announces Import Ban
India Could Accept Huge Russian Oil Offer After US Announces Import Ban Sebastian Hughes on March 14, 2022 India may accept an offer from Russia to buy its crude oil and other…
Exclusive-Chevron set to trade Venezuelan oil if U.S. relaxes sanctions -sources
By Marianna Parraga and Matt Spetalnick HOUSTON/WASHINGTON -Chevron Corp. is preparing to take operating control of its joint ventures in Venezuela if Washington relaxes sanctions on Caracas to boost crude supplies after…
German oil lobby says imports from Russia being reduced
FRANKFURT – German refineries have started reducing imports of Russian crude and oil products, a domestic industry group said on Monday, adding that the adjustment would not threaten domestic supply. The European…
India indicates readiness to release more oil reserves
By Nidhi Verma and Sethuraman N R New Delhi -India will take “appropriate” steps to calm the rise in oil prices, triggered by Russia’s invasion of Ukraine, the junior oil minister said…
Venezuela could add 400,000 bpd to oil output if U.S. approves licenses -petroleum chamber
By Mayela Armas CARACAS – Venezuela’s oil output could rise by at least 400,000 barrels per day (bpd) if the United States authorizes requests by state-run PDVSA’s partners to trade Venezuelan crude,…
How much extra oil could OPEC+ pump to cool prices?
By Alex Lawler LONDON – Saudi Arabia and the United Arab Emirates are among the few oil producers globally with spare capacity they could draw on quickly to increase output, help offset…
Factbox – Airline hedging and surcharges offset some oil price pain
– The price of oil this week surged to its highest point since 2008 after Russia’s invasion of Ukraine, adding to airline costs at a time when carriers have been struggling to…
Democrats Aim To Increase Taxes On Big Oil Amid Record Gas Prices
Democrats Aim To Increase Taxes On Big Oil Amid Record Gas Prices Thomas Catenacci on March 10, 2022 A group of House and Senate Democrats introduced legislation Thursday that would implement a…
As oil prices soar, U.S. shale, OPEC in no rush to resume price war
By Liz Hampton – U.S. shale producers and OPEC, who not long ago were waging a price war, this week found themselves on similar sides as oil prices have surged well above…
Democrats Block GOP Bill That Would Restart Keystone XL, Federal Oil Lease Program
Democrats Block GOP Bill That Would Restart Keystone XL, Federal Oil Lease Program Thomas Catenacci on March 10, 2022 Democrats voted down a motion to consider GOP legislation that would reverse several…
U.S. households started year flush ahead of oil shock
– U.S. household wealth rose to a record $150.3 trillion in the final quarter of last year, a Federal Reserve report on Thursday showed, a financial cushion that may keep consumers spending…
Analysis-You still need us, UAE tells U.S. as it flexes Gulf oil muscles
By Samia Nakhoul, Ghaida Ghantous and Maha El Dahan DUBAI – By single-handedly knocking 13% off rocketing oil prices on one day this week, the United Arab Emirates demonstrated the power Gulf…
Marketmind: ECB, Inflation, Oil
A look at the day ahead in markets from Sujata Rao After the U.S. S&P 500 index saw its biggest one-day gain since June 2020 and oil slumped 13%, it promises to…
U.S. ban on Russian oil imports heads to passage in House of Representatives
WASHINGTON – A majority of the U.S. House of Representatives on Wednesday voted to impose a ban on imports of Russian oil and other energy products in retaliation for Moscow’s ongoing attack…
‘What Additional Permits Do They Need?’: Psaki Mocks Question About Oil Drilling Regulatory Hurdles
‘What Additional Permits Do They Need?’: Psaki Mocks Question About Oil Drilling Regulatory Hurdles Thomas Catenacci on March 9, 2022 White House press secretary Jen Psaki mocked a question about regulatory and…
Biden Begged Russia And OPEC For Oil Last Year. Now He’s Just Begging OPEC
Biden Begged Russia And OPEC For Oil Last Year. Now He’s Just Begging OPEC Thomas Catenacci on March 9, 2022 President Joe Biden has shifted from asking Russian energy producers for more…
Biden Offers Sanction Relief To Dictator In Exchange For Oil: REPORT
Biden Offers Sanction Relief To Dictator In Exchange For Oil: REPORT Thomas Catenacci on March 9, 2022 President Joe Biden offered to remove oil trading sanctions imposed on Venezuela in exchange for…
Oil, commodities price shock could cost over 4% of global GDP, Trafigura says
By Julia Payne LONDON – Soaring prices of commodities from oil to wheat in the wake of Russia’s invasion of Ukraine could cost the global economy the equivalent of at least 4%…
Rep. Scalise Says Biden Is ‘Begging’ Dictators For Oil While Ignoring American Energy
Rep. Scalise Says Biden Is ‘Begging’ Dictators For Oil While Ignoring American Energy Samantha Renck on March 8, 2022 In a discussion with the Daily Caller News Foundation’s Samantha Renck Louisiana Rep.…
G7 energy ministers to discuss next steps on Russian oil and gas -UK minister
LONDON – G7 energy ministers will meet on Thursday to discuss what more the West can do to reduce its dependence on Russian oil and gas, British Business Secretary Kwasi Kwarteng said.…
Palm oil prices set for new record highs in coming months – analyst James Fry
KUALA LUMPUR – Palm oil prices could hit a record 8,100 ringgit ($1,938) a tonne in coming months following a plunge in global edible oil stocks and a decline in export surpluses,…
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