oil-and-gas
Top StoriesEurope Burns Cash to Help Businesses in Deepening Energy Crisis
InvestingOil Stocks Lift London’s FTSE 100 Amid Russia Angst as Fed Looms
Top StoriesOil Prices Down, Investors Expect Big Fed Rate Hike
Top StoriesOil Prices Drop in Advance of Expected Fed Rate Hike
Europe Pays up to Grab Russian Diesel Ahead of Difficult Winter
Date: September 20, 2022
By Rowena Edwards LONDON (Reuters) – European diesel buyers are willing to pay more for Russian cargoes than they were in May, as traders look to get their hands on supplies ahead of a difficult winter and global shortage of the fuel, industry sources said. The European Union will stop buying all Russian crude oil...
Oil Eases After Bearish U.S. Economic Data
Date: September 13, 2022
By Ahmad Ghaddar LONDON (Reuters) -Oil prices eased on Tuesday, reversing earlier gains, as U.S. consumer prices unexpectedly rose in August, giving cover for the U.S. Federal Reserve to deliver another hefty interest rate increase next week. Brent crude was down 62 cents, or 0.7%, to $93.38 a barrel at 1407 GMT, while WTI crude...
Fuel Markets to Stay Tight Till mid-2020s as Refining Shrinks
Date: September 13, 2022
By Ahmad Ghaddar LONDON (Reuters) – Crude oil refining capacity has shrunk by a record 3.8 million barrels per day from March 2020 to mid-2022 as demand expanded, setting the stage for fuel markets to remain very tight until at least mid-decade, International Energy Forum and S&P Global research showed. The fall in capacity comes...
Oil Prices Amid Supply Concerns Heading Into Winter
Date: September 12, 2022
By Laura Sanicola (Reuters) -Oil prices rose on Monday, shaking off weaker demand expectations as supply concerns mount heading into the winter. Brent crude futures rose $1.51, or 1.6%, to $94.35 a barrel by 12:42 p.m. EDT (1642 GMT). U.S. West Texas Intermediate crude was up $1.28, or 1.5%, at $88.07. U.S. emergency oil stocks...
EU Plans to Make Fossil Fuel Firms Share Excess Profits, Draft Shows
Date: September 12, 2022
By Kate Abnett and Foo Yun Chee BRUSSELS (Reuters) -The European Commission wants to force fossil fuel firms that have pocketed gains from soaring energy prices to make a financial contribution to help citizens and industries grappling with sky-high bills, a draft document seen by Reuters showed. The proposal, details of which are expected to...
Explainer-The G7’s Price Cap on Russian Oil Begins to Take Shape
Date: September 12, 2022
By Timothy Gardner WASHINGTON (Reuters) -The Group of Seven countries is working to cap the price of Russian oil in an attempt to limit Moscow’s ability to fund its invasion of Ukraine, a plan analysts say could work in the long term but might boost oil prices in coming months. Officials in G7 countries, including...