Quick Take During Friday’s session, when Bitcoin touched the low of $19,500 due to the fallout of SVB, further contagion spread into Europe. Bitcoin is up 25% from the lows, while Gold is up 5%,...
Tag: Oil
Biden Approves Controversial Alaska Oil Drilling Project—Here’s What You Need To Know
Topline The Biden Administration approved a multibillion-dollar oil drilling project in Alaska on Monday, known as the Willow project, a move that will appease Alaskan lawmakers while angering climate...
Oil and gas stocks suffer broad selloff as crude prices drop in wake of SVB collapse
The energy sector was suffering a broad selloff Monday, as worries that the recent bank failures will trigger an economic slowdown which saps demand for crude oil. The Energy Select Sector SPDR exchan...
Controversial Alaska Oil Drilling Project Could Be Approved Monday—Here’s What You Need To Know
Topline The Biden Administration is reportedly set to approve a multibillion-dollar oil drilling project in Alaska on Monday, known as the Willow project, a move that would appease Alaskan lawmakers w...
Oil Declines as SVB’s Collapse Reverberates Through Markets
(Bloomberg) — Oil fell as the fallout from the collapse of Silicon Valley Bank — the worst since the 2008 financial crisis — rippled across markets. Most Read from Bloomberg US authorities are r...
Aramco Saw Record Profit in 2022- Largest Annual Profit by Oil and Gas Company
Compared to the $110 billion recorded in 2021, the Saudi Arabian oil giant’s net income took a significant leap by growing over 46% YoY in 2022. The Saudi Arabian Oil Group, also known as Aramco, anno...
Exxon Mobil vs. Chevron: Comparing 2 Oil Giant, Dividend Aristocrats
Most oil and gas producers, including Exxon Mobil (XOM) and Chevron (CVX) , posted record profits last year thanks to the rally in prices of oil and gas, which largely reflected the sanctions of weste...
The World Desperately Needs More Oil And Gas Investment
Despite high oil prices sending energy company profits soaring over the last year, little of those profits have been reinvested in the oil and gas business. As oil and gas companies acknowledge the in...
Will We See A Return Of Triple Digit Oil This Year?
Oil prices have been stuck in a tight range since erasing the gains of the Russian invasion of Ukraine at the end of last year. For most of last year, fears of a major oil supply shock from Russia dic...
How Putin Revived Energy Security
TOPSHOT – Russian President Vladimir Putin is seen on a screen set at Red Square as he addresses a … [+] rally and a concert marking the annexation of four regions of Ukraine Russian troop...
Biden’s new budget cuts $31 billion in tax breaks for oil companies
President Biden’s 2024 budget released Thursday includes yet another broadside from the White House against oil companies. The budget proposal — which Republicans have said is going nowhere on Capitol...
Biden targets crypto, real estate and oil industries, as he unveils his budget
President Joe Biden on Thursday called for ending tax subsidies for cryptocurrency investors, the real estate industry and the oil and gas sector, as he formally rolled out his proposed budget for the...
Windfall tax all but wipes out North Sea oil giant’s £2bn profit
KRT18T North Sea, Oil production with platforms. Aerial view. Brent Oil Field. – Martin Langer/Alamy Stock Photo The North Sea’s biggest oil producer has warned it will be forced to cut staff an...
Oil Sector Dealmaking Heats Up
Investment in oil and gas companies listed on the S&P 500 increased by more than 26% this past year, … [+] even as the index tumbled by 5% overall. getty Reports of the shine going off the o...
Granholm Tells CERAWeek Oil And Gas Is Needed ‘For Years To Come’
Jennifer Granholm, U.S. energy secretary, speaks during the 2022 CERAWeek by S&P Global conference … [+] in Houston, Texas, U.S., on Wednesday, March 9, 2022. CERAWeek returned in-person to ...
Starbucks Adds Olive Oil
Across from my office on Main Street in Santa Monica, Dave Asprey opened the first Bulletproof Coffee store. You might remember the story. Asprey was hiking in Tibet, weak as can be and was given Yak ...
India-Russia Oil Deals Chip Away at Dollar Dominance in International Trade – Economics Bitcoin News
On Wednesday, Reuters reported that Western sanctions on Russia and oil trading between Moscow and India have started to erode the dollar’s decades-old dominance of international oil trade. The oil de...
U.S. Shale Boom Shows Signs of Peaking as Big Oil Wells Disappear
HOUSTON—The boom in oil production that over the last decade made the U.S. the world’s largest producer is waning, suggesting the era of shale growth is nearing its peak. Frackers are hitting fewer bi...
An Offshore Oil Rebound Is Under Way. It’s Lifting These Stocks.
Text size Spending on offshore oil drilling is expected to rise in coming years. Carina Johansen/Bloomberg Offshore oil drilling has been growing slowly in recent years as energy companies have hesita...
Oil price prediction after dropping -36% in the last 12 months
The COVID-19 pandemic and the war in Ukraine have led to an acute energy crisis. As a result, gas and oil prices soared, bringing inflation into the spotlight and creating a challenging environment fo...
How TikTok Users Are Mobilizing Against Proposed Alaska Oil Drilling Project
Topline Social media users have rallied against a proposed oil drilling project in northern Alaska over the past week, using the #stopwillow TikTok hashtag to educate viewers on the project’s potentia...
Biden Leaves Oil And Gas Companies In The Lurch With Expiration Of 5-Year Lease Program
An offshore oil rig in twilight. getty A program intended to enable oil and gas development on the U.S. outer continental shelf (OCS) has expired, leaving domestic energy producers at a loss as to whe...
Brent crude oil price nears its do-or-die point as triangle forms
Brent crude oil price has gone nowhere in the past few months as investors weigh the ongoing demand and supply dynamics. The global benchmark has been stuck at around $85 but there are signs that we c...
Saudi Arabia Raises Oil Prices for Asia and Europe for April
(Bloomberg) — Most Read from Bloomberg Saudi Arabia signaled it sees oil demand picking up in Asia and Europe by raising most prices for crude shipments to the regions. While oil futures have we...
Oil Investors Get $128 Billion Handout as Doubts Grow About Fossil Fuels
(Bloomberg) — Worldwide oil demand is racing toward an all-time high and some of the smartest minds in the industry are forecasting $100-a-barrel crude in a matter of months, but US producers ar...
Baytex/Ranger Oil Combination First Of Its Kind In Almost A Year
An active drilling rig in the Eagle Ford Shale. getty Calgary-based Baytex Energy Corp. announced on Tuesday that is has agreed to acquire Eagle Ford Shale pure play Ranger Oil Corp. for $2.5 billion,...
Oil Pushes Higher as China and India Combine to Boost Outlook
(Bloomberg) — Oil rose as data showing a strong recovery in Chinese factory activity reinforced the outlook for energy demand in the world’s biggest crude importer and offset concern about risin...
Oil Drops as Rate Jitters Drown Out Halt to Poland Pipe Supplies
(Bloomberg) — Most Read from Bloomberg Oil fell as concerns that the Federal Reserve will keep on raising US interest rates to combat inflation eclipsed the latest disruption to supplies in Euro...
Oil prices one year after Russia’s invasion of Ukraine
The oil market looks drastically different today than it did a year ago, when Russia invaded Ukraine. “It is the most significant set of market dislocations and distortions in energy markets generally...
Ukraine War Illustrates Importance Of American Energy Dominance
Ukrainian servicemen get ready to repel an attack in Ukraine’s Lugansk region on February 24, 2022. … [+] – Russian President Vladimir Putin launched a full-scale invasion of Ukraine...
Could Oil Prices Crash In The Fourth Quarter?
Although the futures strip doesn’t reflect it, many anticipate a much tighter oil market in the fourth quarter. Jeff Currie of Goldman Sachs has predicted that prices will reach $110 by the third quar...