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…
Jen Psaki Says US Needs To ‘Move Away’ From Crude Oil Altogether Amid Ukraine Crisis
The White House has pushed the so-called green transition in the wake of the Ukraine crisis, arguing it proves global oil market dependence is unstable. President Joe Biden believes that Russia’s invasion…
Chinese investors make Ukraine war bets on oil, payment firms
SHANGHAI -Shares in energy firms and payment service companies rose sharply on Chinese markets on Monday as investors bet on stocks they saw potentially benefiting from the conflict in Ukraine, while a…
Economists say higher oil prices pose further risk to India’s growth momentum
By Manoj Kumar NEW DELHI – Rising crude oil prices and supply disruptions following Russia’s invasion of Ukraine could further sap an Indian economy already slowed by COVID-19, posing risks to household…
Oil could jump back above $100 as traders assess Russia SWIFT ban, analysts say
By Ahmad Ghaddar LONDON – A decision by Western allies on Saturday to block certain Russian banks from the SWIFT payments system is likely to lift oil prices well above $100 a…
White House Confirms Russian Sanctions Don’t Yet Affect Oil, Gas Exports
The White House confirmed that the administration’s sanctions targeting Russia don’t yet affect the country’s key oil and gas industry. “To be clear: Our sanctions are not designed to cause any disruption…
Russian oil exports continue despite payment issues – sources
MOSCOW/LONDON – Russian oil exports continued to flow to Europe and onwards on Friday, even as Russian sellers and Western buyers said they struggled with payments, banking guarantees and shipping after the…
Japan says it will deal with oil release from reserves in cooperation with IEA, other nations
TOKYO – Japan said on Friday it will appropriately deal with oil release from national reserves in cooperation with the International Energy Agency and relevant countries, after Russia’s attack on Ukraine fueled…
Canada’s Alberta province forecasts 2022/23 budget surplus as oil prices soar
By Nia Williams CALGARY, Alberta – Canada’s biggest oil-producing province Alberta is expecting its first budget surplus since 2014/15, Finance Minister Travis Toews said on Thursday, as soaring global energy prices and…
Fed’s Barkin says sustained high oil prices could ‘dampen’ consumption, growth
COLONIAL HEIGHTS, Va. – If the conflict in Ukraine leads to sustained high oil prices it could hit U.S. consumer spending and pose a possible risk to U.S. economic growth, said Richmond…
Gas Prices Set To Skyrocket After Oil Soars Beyond $100 For The First Time Since 2014
The worldwide price of crude oil skyrocketed to more than $100 per barrel for the first time since 2014 as Russia launched a full-scale offensive against Ukraine. The Brent crude index, the…
Aramco shares rise to record high as oil tops $100 for first time since 2014
DUBAI – Saudi Aramco shares surged as much as 4.2% to a record high 42.25 riyals ($11.26) on Thursday as oil prices breached the $100 a barrel after Russia attacked Ukraine. Brent…
Russia’s Urals oil at biggest discount to benchmark for 2 years, traders say
MOSCOW – Russia’s flagship Urals oil grade is trading at the biggest discount to global benchmark Brent since spring 2020, hit by rising tensions between Russia and the West over Ukraine, four…
Oil could jump by $20 if Ukraine crisis worsens, says BofA
– Global oil benchmark Brent crude could rise by $5-$20 a barrel depending on the severity of the Russia-Ukraine crisis, Bank of America (BofA) Global Research said on Tuesday, adding that prices…
Russia’s energy minister deems oil price of $55-70/bbl as ‘optimal’
MOSCOW – Russia’s Energy Minister considers the oil price of between $55-70 a barrel as ‘optimal’ for the market, according to an interview published on Tuesday. Oil hit its highest since 2014…
Biden Administration Quietly Delays, Stops Oil And Gas Leasing After Legal Defeat
The Biden administration warned Saturday that the federal oil and gas leasing program would face significant delays amid its appeal in an ongoing legal fight with Republican-led states. The administration said that…
US Set To Again Become Net Importer Of Oil Despite Vast Resources
The U.S. is projected to become a net importer of crude oil in 2022, just two years after the nation achieved net exporter status, according to government data. The country will import…
EU’s oil and petroleum consumption hit record low in 2020
– Pandemic restrictions in 2020 reduced the European Union’s oil and petroleum consumption in energy use to its lowest in 30 years, the bloc’s statistics office said on Friday. Eurostat said the…
Fleetscape probing possible Iran oil transfer to ship it finances
By Jonathan Saul LONDON – UK-based maritime company Fleetscape is investigating the possible transfer of Iranian oil to a tanker it finances, the Oaktree Capital Management-backed firm said after allegations by a…
Pioneer Natural Resources CEO calls for private oil firm’s flaring to be ‘reined in’
DENVER – Scott Sheffield, chief executive officer of U.S. public shale firm Pioneer Natural Resources Co, on Thursday said private oil and gas companies needed to be “reined in” for excessive methane…
Exclusive-Iran nuclear deal draft puts prisoners, enrichment, cash first, oil comes later -diplomats
By Francois Murphy, Parisa Hafezi and John Irish VIENNA – A U.S.-Iranian deal taking shape to revive Iran’s 2015 nuclear agreement with world powers lays out phases of mutual steps to bring…
French insurer CNP to stop financing new oil and gas projects
By Simon Jessop LONDON – France’s CNP Assurances will no longer finance new oil and gas projects or invest more money in companies planning to do so, joining the growing ranks of…
Biden Administration Defies Court Ruling Again, Opts Against Holding Oil Drilling Sales
The Biden administration missed another deadline to hold quarterly onshore oil drilling lease sales after a federal court ruled it was legally required to do so. The Department of the Interior (DOI)…
Alberta’s finances set to flip back to black as oil surges, helping premier
By Nia Williams CALGARY, Alberta – Canada’s main oil-producing province of Alberta looks set to return to a budget surplus this coming fiscal year, ending seven years of deficit, as surging oil…
Crescent Energy buys EP Energy’s Uinta oil and gas assets for $815 million
– Oil and gas producer Crescent Energy said on Wednesday it would buy around 145,000 net acres of oil- and gas-producing assets in the Uinta Basin of Utah from privately owned Verdun…
Malaysia keeps March crude palm oil export duty at 8%
KUALA LUMPUR – Malaysia has maintained its March export tax for crude palm oil at 8% and raised its reference price, a document on the Malaysian Palm Oil Board website showed on…
Breaking News
