The use of cryptocurrency as a payment method for international transactions is being considered for small private business contracts in Russia, but this will apparently not affect oil supplies. Dire...
Tag: Oil
Russian Finance Ministry Rules Out Sale of Oil for Bitcoin – Economics Bitcoin News
The Russian government considers bitcoin as a payment option for small business transactions, not for oil exports, the country’s finance ministry has indicated. A top official emphasized the departmen...
Saudi Stocks Briefly Erase Year’s Gains as Oil, Equities Plunge
(Bloomberg) — Most Read from Bloomberg Saudi Arabian stocks briefly erased the year’s gains on Monday before rebounding strongly as bargain hunters stepped in following steep recent losses. The ...
China Buys $7.5 Billion of Russian Energy With Oil at Record
(Bloomberg) — China continued to snap up Russian energy products last month, including a record quantity of crude oil, lifting purchases to $7.47 billion — about $1 billion more than April...
Oil Steadies as Traders Weigh Outlook for Demand, Fed’s Path
(Bloomberg) — Oil steadied in Asia — after plunging almost 7% on Friday — as traders weighed prospects for higher near-term demand against concerns that aggressive US monetary tighte...
Massive Oil Refining Capacity Idle in China Even as Prices Soar
(Bloomberg) — As gasoline prices soar and the US considers invoking Cold War-era laws to boost production, there’s a massive pool of oil refining capacity on the other side of the Pacific Ocean ...
The Fed Turns Aggressive as Inflation Meets Signs of an Economic Slowdown
Text size At the news conference following the rate hike, Fed Chairman Jerome Powell admitted that the policy-setting committee was taken aback by news of rising prices and weaker-than-expected retail...
Create an Exit Plan for When Oil Stocks Run Out of Gas
The economy constantly cycles through sector winners and losers. The stock market obliges these trends with money flowing toward the shares of companies that earn outsize returns and out of the losers...
Oil and Gas Giant Gazpromneft To Explore CO2 For Crypto Mining
Gazpromneft, a subsidiary of oil and natural gas giant Gasprom, has announced a partnership with BitRives to launch a crypto mining operation. According to the partnership, both companies will explore...
Saudi Arabian Stocks Tumble as Oil, Rates Roil Mideast Equities
Motley Fool 5 Surefire Stocks That Can Build Generational Wealth in 25 Years Since hitting their respective all-time closing highs within the past seven months, the well-known Dow Jones Industrial Ave...
Oil prices end lower to break a string of weekly gains as demand worries linger
Oil futures finished with a loss on Friday, with U.S. and global benchmark prices ending a streak of weekly gains, as investors juggled recession fears and concerns over demand. Price action West Texa...
BitRiver And Russian Oil Giant Team Up To Power Data Centers
The third-largest oil producer in Russia has joined forces with BitRiver, a bitcoin mining business based in Switzerland, to mine bitcoin utilizing spare resources. BitRiver will construct the digital...
Bitriver to Mine Crypto Using Excess Gas From Gazprom Neft’s Oil Extraction – Mining Bitcoin News
Russian crypto mining operator Bitriver will use electricity generated from associated gas provided by Gazprom Neft to mint digital coins. As part of a new agreement, the mining company will in return...
A Strong Oil Industry Is Not Sustainable In Biden’s Confusing Policy Environment
WASHINGTON, DC June 30, 2021: President Joe Biden shakes hands with White House Chief of Staff Ron … [+] Klain before delivering remarks during a meeting discussing the devastating intersection ...
Oil Company Gazpromneft To Launch a Cryptocurrency Mining Operation With BitRiver
U.S sanctions against Russia have played a role in the adoption of cryptocurrencies in the European country, causing oil companies like the giant Gazpromneft to look for new ways to exploit natural re...
Oil Tumbles Below $110 as Fed Signals More Hawkishness Ahead
(Bloomberg) — Oil fell the most in three months as Federal Reserve Chair Jerome Powell doubled down on his determination to curb the hottest inflation in decades with more aggressive rate hikes....
Gas Price Relief In Sight As Crude Oil Tumbles on Recession Fears
Updated at 1:32 pm EST U.S. drivers may get some near-term relief on gas prices heading into the Juneteenth holiday weekend as crude prices plunged to a three-week low in mid-day Friday trading amid o...
Oil Companies Prepare As Federal Land Lease Auction Set To Begin
U.S. gas and oil companies are preparing to begin the process to acquire new drilling rights on federal land for the first time since President Joe Biden took office. X The national average retail pri...
Russia’s third-largest oil company to power Bitcoin mining farms
Regardless of the ongoing discussion about whether Proof-of-Work (PoW) cryptocurrency mining has a negative or positive impact on the environment (and other areas), its profitability has led to a part...
How Has The Oil Industry Fared Under President Biden?
US President Joe Biden speaks before signing Bill S.3580, the Ocean Shipping Reform Act of 2022, in … [+] the State Dining Room of the White House in Washington, DC, June 16, 2022. (Photo by Nic...
Environmental groups sue Biden to block oil and gas drilling permits
A polar bear sow and two cubs are seen on the Beaufort Sea coast within the 1002 Area of the Arctic National Wildlife Refuge. U.S. Fish and Wildlife Service | Reuters A coalition of environmental grou...
Biden Plays The ‘Squid Game’ With The Energy Industry
SEOUL, SOUTH KOREA – OCTOBER 26: Younghee, the giant robot doll from “Squid Game”, is exhibited at … [+] the Olympic Park on October 26, 2021, in Seoul, South Korea. (Photo by ...
Why Are Oil Prices Down and Gas Prices Up?
Gasoline prices continue to set records even as oil prices are beginning to slip back from their recent highs, leaving many drivers frustrated and perplexed. The American Automobile Association report...
Dow Jones Rallies As Powell Gives Warning; Oil Stocks Dip After Biden Threat; WWE Stock Gains
The Dow Jones Industrial Average rallied after Federal Reserve Chairman Jerome Powell hiked interest rates and issued a warning. Oil stocks dipped after President Joe Biden threatened to exercise emer...
Biden Tells US Oil Refiners Record Profits Are ‘Not Acceptable’
(Bloomberg) — President Joe Biden told US oil refiners that unprecedented profit margins are unacceptable and called for “immediate action” to improve capacity as the soaring price of gasoline f...
Harold Hamm bid for Continental signals oil sector’s urge to quit Wall Street
Shale baron Harold Hamm has hardly hidden his disdain for Wall Street’s environmental, social and governance movement, considering it a leash on companies such as Continental Resources as they try to ...
2 ‘Strong Buy’ Oil Stocks From One of the Best Analysts on Wall Street
As we approach mid-year, it’s time to take stock of the oil markets. Prices are up, near $119 per barrel of crude oil right now, and indications are that they’ll keep going up. Industry experts are pr...
Sanctions On Russian Oil And Gas Didn’t Work, And Now We Know Why.
Russian President Vladimir Putin chairs a meeting with members of the Russian government via … [+] teleconference in Moscow on March 10, 2022. SPUTNIK/AFP via Getty Images The Russian war on Ukr...
Oil prices settle lower; natural-gas futures drop more than 16%
Oil futures gave up early gains to finish with a loss on Tuesday, pressured after Bloomberg reported that a U.S. senator may propose a plan to impose a federal surtax on certain oil companies in a mov...
Why there’s no relief in sight for soaring oil and gas prices
Everybody’s frustrated. If somebody could do something about it, it would be done. But oil and gasoline prices are on a tear that for the time being seems unstoppable. U.S. gasoline prices have hit $5...
5 Midstream Oil Stocks With Perfect Exposure To Soaring Oil Prices
After a brief hiatus, the oil price rally is back on track. Crude oil closed with its seventh straight weekly gain thanks to tight fuel supplies sustaining bullish sentiment. After a brief fall on Fri...