oil-and-gas
InvestingOil Rebounds as Investors Assess Recession Risks
Top StoriesRussian Oil Tankers Get India Safety Cover via Dubai Company
InvestingOil Falls as Investors Eye Recession Risks
InvestingOil Slumps Over 6% as Biden Set to Cut Fuel Costs for Drivers
Russia May Cut Off Gas Completely, Europe Must Act Now – Iea
Date: June 22, 2022
By Noah Browning BRUSSELS (Reuters) -Russia may cut off gas to Europe entirely as it seeks to bolster its political leverage amid the Ukraine crisis, the head of the International Energy Agency (IEA) said on Wednesday, adding Europe needed to prepare now. “I wouldn’ rule out Russia continuing to find different issues here and there...
Explainer-Why Is There a Worldwide Oil-Refining Crunch?
Date: June 22, 2022
By Laura Sanicola (Reuters) – Drivers around the world are feeling pain at the pump with fuel prices soaring, and costs are surging for heating buildings, power generation and industrial production. Prices were already elevated before Russia invaded Ukraine on Feb. 24. But since mid-March, fuel costs have surged while crude prices are up only...
Oil Climbs $2/bbl on Strong Demand, Tight Supply
Date: June 21, 2022
By Arathy Somasekhar HOUSTON (Reuters) -Oil rose $2 per barrel on Tuesday on high summer fuel demand while supplies remain tight because of sanctions on Russian oil after its invasion of Ukraine. Brent crude rose $2.06, or 1.8%, to $116.08 a barrel by 10:40 a.m. ET (1440 GMT). The U.S. West Texas Intermediate (WTI) crude...
Norway’s Sovereign Fund Eyes Long-Term Profit From Market Turmoil
Date: June 21, 2022
By Victoria Klesty OSLO (Reuters) – The recent turmoil in global financial markets represents an opportunity for Norway’s $1.2 trillion sovereign wealth fund, to profit from it much like it did during the 2008-2009 financial crisis, its deputy chief said on Tuesday. As the world’s largest fund of its kind it owns 1.3% of all...
Vitol CEO Says More Russian Crude and Products Set for Asia in 2023
Date: June 21, 2022
DOHA (Reuters) – More Russian crude oil and products will head to Asian markets in 2023 while Europe will turn more to the Middle East to buy diesel, Vitol CEO Russell Hardy said on Tuesday. Hardy also said tight energy markets would persist until demand slows. “Its tough to see markets really giving up much...
‘Perfect Storm’ for Airlines Facing Strong U.S. Dollar and High Oil Prices
Date: June 21, 2022
By Jamie Freed DOHA (Reuters) – Global airlines are grappling with a double whammy from the rare combination of a strong U.S. dollar and high oil prices at a time when broad inflationary pressures and worker shortages are also placing pressure on the pandemic-hit industry’s recovery. The oil price and the U.S. dollar typically have...