Crude oil price remains under pressure as the market continues to react to the soaring COVID-19 cases in China and SPR releases from key consuming countries. Earlier on Monday, Brent futures dropped t...
Tag: Oil
Oil Extends Retreat as China Battles Worsening Virus Outbreak
(Bloomberg) — Oil fell as traders tracked a worsening Covid-19 outbreak in China and prospects for additional crude releases from government stockpiles. Most Read from Bloomberg West Texas Inter...
Oil Posts Its Biggest Weekly Drop in More Than 10 Years
(Bloomberg) — Oil posted its biggest weekly loss in more than 10 years after the Biden administration ordered an unprecedented release of U.S. strategic reserves to tame rampant prices. Most Rea...
Oil futures suffer biggest weekly percentage decline in nearly 2 years
Oil futures ended lower Friday, with prices posting their largest one-week percentage loss in nearly two years. Prices declined on the back of the largest-ever release from U.S. crude reserves and new...
What 10% inflation could look like for junk bonds: BofA
What happens to companies financed in the booming high-yield or “junk-bond” market on the off chance that U.S. inflation pegged at 7.9% in February soars to 10% and stays there? That’s a question Oleg...
Biden Wants Oil Companies to Pay Penalties on Unused Drilling Leases
(Bloomberg) — U.S. President Joe Biden wants oil drillers to pay penalties when federal leases go unused in an effort to prod the industry into pumping more. Most Read from Bloomberg The White H...
U.S. Crude Oil Production Rises For First Time In 10 Weeks
U.S. crude oil production has risen—albeit modestly—for the first time in ten weeks, the latest EIA data shows. Weekly U.S. field production of crude oil rose to 11.7 million barrels per day, accordin...
Restarting Keystone XL construction ‘wouldn’t actually increase supply’ of oil: top Biden adviser
“‘Any action on Keystone wouldn’t actually increase supply, and it would transmit oil years in the future.’” — National Economic Council Director Brian Deese That’s the White House’s top economic advi...
This Recession Indicator Is Flashing Warning Signs As Fed, War And Oil Threaten Economic Recovery
Topline The widely observed yield curve, which measures the difference in interest rates between short-term and long-term bonds, has inverted this week—signaling a looming recession—and though many ex...
Approving Keystone pipeline won’t lower oil prices, says NEC Director Brian Deese
President Joe Biden‘s top economic advisor suggested Friday the White House is not rethinking its decision to cancel the controversial Keystone XL oil pipeline in response to elevated crude and ...
Putin May Collect $321 Billion Windfall If Oil and Gas Keep Flowing
(Bloomberg) — Russia’s economy has staggered through the first full month of the war with Ukraine but it may yet emerge with a sparkling balance sheet if some of its biggest trade partners don’t...
Ukraine’s Friends Refuse to Pay Russia Rubles for Gas. What Could Come Next.
The Kasimovskoye underground gas storage facility operated by Gazprom, in Kasimov, Russia. Andrey Rudakov/Bloomberg Text size Vladimir Putin was rash enough to invade Ukraine. Could he double his bet ...
Dow Jones Dives As Biden Taps Emergency Oil, Inflation Gauge Hits 39 Year High
The Dow Jones Industrial Average fell as President Joe Biden tapped the nation’s emergency oil reserves amid spiraling prices. The Fed’s favorite inflation gauge also spiked to the highest...
Biden Administration Orders Record Oil Release From Strategic Reserve
Topline President Joe Biden will release 1 million barrels of oil per day from the Strategic Petroleum Reserve over six months, in the largest use yet of the federal emergency stockpile, the White Hou...
What President Biden releasing oil from reserves may mean for gas prices
President Biden signing off on an oil release from the Strategic Petroleum Reserve (SPR) to cool elevated prices may have some effect, but not a ton, warns Goldman Sachs. “Conceptually, such a r...
Sanctions Force Russia into Accepting Cryptocurrencies as Payment for Oil and Gas
Mar 31, 2022 at 13:15 // News The numerous sanctions imposed on Russia as a result of the invasion of Ukraine have caused further trade losses for the country. The ban on excluding Russian banki...
Stocks Down, Oil Falls, Bitcoin and Gold Slightly Rise – Trustnodes
Almost every stock in the world is down today, though only a bit. Shanghai has seen a fall of 0.44%. Europe’s Stoxx are down 0.34%. US futures say a bit of red at -0.22%. Oil has seen a proper fall ho...
Canadian Oil Company to Allocate its Untapped Energy in Mining Bitcoin (Report)
Bengal Energy – a Canadian-based oil and gas company – will reportedly deploy energy from “stranded” gas wells into bitcoin mining operations. The firm also intends to set up 70 BTC mining rigs inside...
Crude oil price outlook amid talks of US SPR releases
Crude oil price has edged lower as the US considers making yet another release from its Strategic Petroleum Reserve (SPR). The bulls are defending the support at the psychological level of $100 with ...
Top Energy Fund Manager Says To Ride Out The Oil Spike In Canada
An oil sands worker at the Syncrude mine north of Fort McMurray, Alberta, Canada. getty Eric Nuttall at Toronto-based Ninepoint Energy Fund prefers Canada-based oil and gas companies — for more than j...
Alex Epstein’s Case For Using More Oil, Coal And Natural Gas
SEPTEMBER 19: Picture taken 19 September 1984 in the North Sea of the Norwegian oil drilling rig … [+] “Statfjord B”. (Photo credit should read STF/AFP via Getty Images) AFP via Gett...
The King Of Shale Oil, The Permian Basin, Is Still Riding The Wave.
Warning of a petroleum pipeline running along the ground in the Permian Basin on March 2022 in … [+] Midland, Texas. Getty Images Riding the wave. The Permian basin, in West Texas and New Mexico...
Saudis May Hike Oil Price to Record as War Reroutes Flows
(Bloomberg) — Saudi Arabia, the largest oil exporter, will likely boost pricing of its main crude variety to a record as the impact of Russia’s invasion of Ukraine reverberates through markets m...
Inflation-Adjusted Oil Prices Put Current Rise In Perspective
The recent rise in oil prices is reflected in high gas prices (Photo by Brooks Kraft LLC) Corbis via Getty Images Today’s volatile and seemingly high oil prices produce large headlines, but how ...
For First Time, India Is Top Buyer Of U.S. Oil, Plus $100 Billion Trade Partner
For just the first time, India became the No. 1 purchaser of U.S. oil in 2021, also have one export … [+] or import top $10 billion for the first time. ustradenumbers.com For the first time, Ind...
3 Energy Companies That Should Buy Back Stock: Analyst
Text size High oil prices have left producers awash in cash. Spencer Platt/Getty Images Oil-and-gas companies are pumping out billions of dollars in cash because of high commodity prices. Many of them...