oil-and-gas
InvestingOil Jumps 4% on Tight Supply, Prospects of New Russia Sanctions
Top StoriesRussia to Keep Gas Contract Prices Unchanged in Rouble Switch, Sources Says
Top StoriesOil Drops $6 on Positive Signals From Russia-Ukraine Peace Talks
InvestingOil Slides on Concerns of Weaker Chinese Demand
Oil Slides on Concerns of Weaker Chinese Demand
Date: March 28, 2022
By Rowena Edwards LONDON (Reuters) – Oil prices tumbled more than $6 on Monday as fears over weaker fuel demand in China grew after financial hub Shanghai lockdown efforts to curb a surge in COVID-19 infections. Brent crude futures slid as low as $113.72 a barrel and were trading down $5.97, or 4.9%, at $114.68...
Commodities Trading Houses Help Keep Russian Oil Flowing
Date: March 25, 2022
By Julia Payne LAUSANNE, Switzerland (Reuters) – Commodities traders such as Trafigura and Vitol have helped keep Russia’s oil flowing through its Baltic and Black Sea ports in March, when some Western firms started to snub the market, according to ship tracking, traders and shipping sources. Both Swiss-based trading houses have long-term deals with state-run...
Kazakh Oil Woes Another Headache for Top Western Producers Amid Ukraine War
Date: March 25, 2022
By Ron Bousso LONDON (Reuters) -Top Western oil companies face a hit to revenue as disruptions at a Russian Black Sea port force producers to curtail output from Kazakhstan’s giant oilfields, highlighting the growing global supply risk after Moscow’s invasion of Ukraine. Chevron, Exxon Mobil, Shell, TotalEnergies and Italy’s Eni are among international companies with...
EU Plans Joint Gas Purchases but at Odds Over Russia Oil Embargo Amid Energy Crunch
Date: March 25, 2022
By Philip Blenkinsop and Ingrid Melander BRUSSELS (Reuters) -European Union leaders on Friday backed plans to buy gas jointly and won a pledge from the United States to supply them with more LNG, both steps aimed at helping the bloc face an energy crunch heightened by Russia’s invasion of Ukraine. “We’re coming together to reduce...
Exclusive-OPEC Officials Tell EU of Unease About Proposed Ban on Russian Oil, Sources Say
Date: March 24, 2022
By Alex Lawler LONDON (Reuters) – OPEC officials believe a possible European Union ban on oil from its partner Russia would hurt consumers and the group has conveyed its concerns to Brussels, OPEC sources said. Major OPEC members, such as Saudi Arabia and the United Arab Emirates, have tried to navigate a neutral course between...
Diesel Shortage in Europe Threatens to Slow Economic Growth
Date: March 24, 2022
By Bozorgmehr Sharafedin and Rowena Edwards LONDON (Reuters) – European economies face the risk of a shortage of diesel, the preferred fuel for heavy industry, as sanctions on Russian energy threaten to disrupt imports while supply from elsewhere remains limited. Russia is Europe’s largest supplier of diesel and related fuels, sending over three quarters of...