energy-market
Top StoriesEU Says Full Russian Gas Halt Would Slash GDP
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Top StoriesExclusive-Russia’s Gazprom Declares Force Majeure on Some Gas Supplies to Europe
Oil Jumps 2.5% as No Immediate Saudi Output Boost Expected
Date: July 15, 2022
By Laila Kearney NEW YORK (Reuters) – Oil prices gained 2.5% on Friday after a U.S. official told Reuters that an immediate Saudi oil output boost was not expected, and as investors question whether OPEC has the room to significantly ramp up crude production. Brent crude futures were up $2.50, or 2.5%, to $101.60 a...
Oil Rises on Saudi Oil Production Expectations
Date: July 15, 2022
By Rowena Edwards LONDON (Reuters) -Oil prices rose on Friday after a U.S. official told Reuters an immediate Saudi oil output boost is not expected, with further support from indications that the U.S. central bank could raise interest rates less aggressively than anticipated. Brent crude futures for September delivery rose 76 cents, or 0.77%, to...
Exclusive-Shell Wants to Share More of Its Blockbuster Profits, CEO Says
Date: July 14, 2022
By Ron Bousso OXFORD, England (Reuters) – Shell is considering boosting shareholder returns on the back of bumper profits from soaring energy prices, while the extra cash will also help it shift more swiftly towards renewables and low-carbon energy, the chief executive said on Thursday. Europe’s largest oil and gas company, as well as rivals...
EU to Urge Countries to Curb Gas Use to Buffer Against Russian Cuts
Date: July 13, 2022
By Kate Abnett BRUSSELS (Reuters) – The European Union will encourage member countries to cut gas demand by incentivising industries to use less, in a bid to prepare for possible further cuts to Russian supply, according to a draft plan seen by Reuters. Brussels is bracing for potential further cuts to Russian gas deliveries, a...
Iea Says Oil Market Walking Tightrope Due to Economic, Supply Risks
Date: July 13, 2022
By Noah Browning LONDON (Reuters) – The global oil market is “walking a tightrope” between scarce supply and the possibility of a recession, the International Energy Agency (IEA) said on Wednesday, with higher prices and worsening economic conditions already taking a toll on demand. The cloudy outlook is reflected in volatile trading, with Brent crude...
Brent Crude Falls Below $100/bbl on Higher Dollar, Weak Demand Outlook
Date: July 12, 2022
By Arathy Somasekhar HOUSTON (Reuters) -Global benchmark Brent crude tumbled $7 to below $100 a barrel on Tuesday on a strengthening dollar, demand-sapping COVID-19 curbs in top crude importer China, and rising fears of a global economic slowdown. The sharp drop followed a month of volatile trading in which investors have sold oil positions on...