energy-market
Top StoriesOil Prices Set to End Week Higher After US Rate Cut
Top StoriesOil Prices Rise on Supply Shocks, Prospect of US Interest Rate Cuts
InvestingOil Prices Climb on Hurricane Impact Ahead of US Rate Decision
Top StoriesGreece Asks EU for Urgent Response to Soaring Power Prices, Letter Shows
Oil Prices Climb 1% on Fears Over Hurricane Impact on US Output
Date: September 12, 2024
By Arunima Kumar (Reuters) -Oil prices rose by more than 1% on Thursday to extend a rebound spurred by concern over Hurricane Francine’s impact on U.S. output, though a gloomy demand outlook capped gains. Brent crude futures for November rose 94 cents, or 1.3%, to $71.55 a barrel by 1205 GMT. U.S. crude futures for...
Scotland’s Only Oil Refinery to Close Next Year, 400 Jobs to Go
Date: September 12, 2024
By Ron Bousso and Robert Harvey LONDON (Reuters) -Grangemouth, Scotland’s only oil refinery, is to close in 2025 with the loss of 400 jobs, operator Petroineos said on Thursday, as part of plans to turn the 100-year old plant into a fuels import terminal. Petroineos said last November it was preparing to shut Grangemouth, Britain’s...
Oil Rebounds as Geopolitics, Demand Concerns Whipsaw Investors
Date: August 28, 2024
(Reuters) – Oil rebounded on Wednesday after a sharp drop in the previous session ended a three-day streak of gains as investors have whipsawed between concerns about potential supply losses from Libya and the Middle East and worries about global fuel demand. Brent crude futures were up 25 cents, or 0.31%, at $79.80 a...
Extreme Weather and Geopolitics to Send UK Energy Bills up 10%
Date: August 23, 2024
By Catarina Demony and Radhika Anilkumar (Reuters) – British energy regulator Ofgem on Friday raised its price cap on household energy bills by 10% from Oct. 1 to an annual level of 1,717 pounds ($2,250.64), a jump blamed on severe weather events and conflicts such as the war in Ukraine. Ultimately the price rise...
Oil Falls Over 1% as Investors Worry About China Demand Outlook
Date: August 16, 2024
By Shariq Khan NEW YORK (Reuters) -Oil prices fell about 2% on Friday and were set to end the week around the same levels as last, with Brent crude just below $80 a barrel, as investors tempered expectations of demand growth from top oil importer China. Brent crude futures fell by $1.06, or 1.3%, to...
Oil Rises for Fifth Straight Session on Mideast Tensions and US Data
Date: August 12, 2024
By Laila Kearney NEW YORK (Reuters) -Oil prices were up by more than $1 a barrel on Monday, rising for a fifth consecutive session on intensifying Middle East supply risks and fading fears of a possible U.S. recession. Brent crude futures were up $1.32, or 1.6%, at $80.98 a barrel by 1531 GMT. U.S. West...