oil-and-gas
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Oil Steady as U.S. Output Ramps up After Freeze, China Eases Covid Curbs
Date: December 29, 2022
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices were steady after hitting a three-week high on Tuesday as restarts at some U.S. energy plants shut by winter storms offset gains stemming from hopes of a demand recovery as China eases its COVID-19 restrictions. Brent crude was up 41 cents, or 0.5%, at $84.33 a barrel, while...
Exxon Sues EU in Move to Block New Windfall Tax on Oil Companies
Date: December 29, 2022
By Sabrina Valle (Reuters) – U.S. oil major Exxon Mobil Corp is suing the European Union in a bid to force it to scrap the bloc’s new windfall tax on oil groups, arguing Brussels exceeded its legal authority by imposing the levy. Record profits this year by oil companies benefiting from high energy prices have...
Oil Drops 2% in Light Trading on China Demand Concern
Date: December 28, 2022
By Shariq Khan NEW YORK (Reuters) -Oil prices dipped on Wednesday as traders weighed concerns over a surge in COVID-19 cases in China, the world’s top oil importer, against the chances easing pandemic restrictions in the country will boost fuel demand. Brent crude futures fell $1.69, or 2%, to $82.64 a barrel by 10:01 a.m....
Oil Hits 3-week High as China Eases Covid Curbs
Date: December 27, 2022
By Alex Lawler LONDON (Reuters) -Oil hit a three-week high on Tuesday as China’s latest easing of COVID-19 restrictions spurred hopes of a demand recovery, although prices pared gains after some U.S. energy facilities shut by winter storms began to restart. China will stop requiring inbound travellers to go into quarantine, starting from Jan. 8,...
Oil Prices Rise as China Eases Covid Curbs, U.S. Storm Fuels Supply Worries
Date: December 27, 2022
By Isabel Kua SINGAPORE (Reuters) -Oil prices rose to three-week highs on Tuesday as China’s latest easing of COVID-19 restrictions spurred fuel demand hopes, while concerns that winter storms across the United States are affecting energy production continued to support prices. Brent crude was up 52 cents, or 0.6%, at $84.44 a barrel by 0712...
Russia’s Sberbank Urges Glencore to Resolve Dispute Over Oil Bill
Date: December 27, 2022
MOSCOW (Reuters) -Sberbank on Monday accused Glencore of choosing not to foot a bill for oil supplied via the Russian lender, saying the global commodities trader could have found a way to pay up without violating Western sanctions. Sberbank has taken legal action to recover debt and penalties from Glencore Energy UK Ltd over the...