World oil prices are going up on Tuesday, and trading data attest to this. Accordingly, the WTI oil futures for June rose 2.29 percent to $32.55 a barrel, RT reported. And the Brent oil futures for July supplies increased 0.60 percent to $35.02 a barrel.

The coronavirus pandemic has disrupted maintenance at oil and gas projects and refineries from Russia’s Far East to the coast of Canada, storing up problems for an industry already reeling from slumping prices, analysts say. Lockdowns to stop the spread of COVID-19, the flu-like infection caused by the virus, have …

Russia’s Gazprom said Monday it was launching feasibility studies on constructing a second gas pipeline to China that would more than double the volumes it could deliver to the energy-hungry nation. “The objective is to connect the gas transportation infrastructure in the west and the east of Russia,” Gazprom chief …

The U.S. Supreme Court justices declined on Monday to review a federal court’s ruling that had allowed Canadian miner Crystallex to take over shares of U.S. refiner Citgo in compensation for US$1.4 billion for the expropriation of assets in Venezuela. U.S. refiner Citgo is the crown jewel in the holdings …

Germany’s energy regulator on Friday (15 May) declined to grant a waiver of European Union gas directives to the operators of the Nord Stream 2 pipeline, dealing a fresh blow to the project to carry gas from Russia to Germany under the Baltic Sea. Nord Stream 2, designed by Russia’s …

Iranian Foreign Ministry Spokesman Abbas Mousavi condemned the US’ threats against free trade, warning that any seizure of Iranian tankers will be retaliated. “Free trade between independent states is legitimate, and what is illegal is interference in these relations and the US is standing at the forefront of that. Trump’s …

US futures surged past $30 per barrel for the first time in two months as OPEC+ output cuts and production shut-ins among independent producers rebalanced a market hit hard by the coronavirus pandemic. West Texas Intermediate, the key US gauge, was up 4.52 per cent at $30.76 per barrel. Brent, …

U.S.’s natural gas consumption is set to decline 4% this year to an average of 81.7 billion cubic feet per day (Bcf/d), the Energy Information Administration said in its May Short-Term Energy Outlook (STEO) last week. The drop reflects mainly a 7.1% decrease in gas demand from the industrial sector, …

Croatian ambassador to Tehran Drago Stambuk on Monday called for upgrading ties with Iran, saying, “I am proud of serving in Iran where according to scientific documents there are historical affinities between Iranians and the Croats.” In an interview with the Croatian daily, Večernji list, Drago Stambuk said that his …

As demand for oil crashed amid the coronavirus outbreak, many traders seized the opportunity to store cheap oil stock to resell at a higher price. However, this scenario wasn’t an easy task for everyone. The shipping costs increased sharply and storage facilities surpassed the 90 per cent occupancy mark for …