Tag Archives: Bloomberg News Agency

European natural gas futures extended Monday’s gain as traders weigh fresh risks to winter supplies. Dutch front-month prices rose as much as 5.6% after Royal Dutch Shell Plc canceled several liquefied natural gas shipments after an outage in Australia, which will intensify global competition for spot cargoes. Traders are also …

Saudi Arabia raised oil prices for buyers in Asia and the U.S., days after OPEC and its allies made a surprise decision to increase output. The move signals that the world’s biggest crude exporter still sees strong demand in its two main markets, despite the spread of the omicron variant …

The U.S. is trying to re-focus its energy relationship with top Middle East OPEC countries, notably Saudi Arabia, after a period of tension between Washington and Riyadh over high oil prices. Amos Hochstein, the top American energy diplomat, held meetings this week with officials in the Middle East, including Saudi …

The oil producers’ group OPEC+ will likely take a cautious stance when deciding this coming week whether to go ahead with planned output increases after the emergence of a new coronavirus variant sent crude prices tumbling, according to Vitol Group. There are signs that demand may be weakening in some …

European natural gas futures rose on Tuesday after the U.S. imposed its latest sanctions aimed at Russia’s Nord Stream 2 pipeline, a move the Kremlin says is “illegal.” Crude’s rise, in response to plans by the U.S. and other oil-consuming nations to tap their strategic reserves, also gave natural gas …

The U.S. will release 50 million barrels of crude from its strategic reserves in concert with China, Japan, India and South Korea and the U.K — an unprecedented, coordinated attempt the world’s largest oil consumers to tame prices that could prompt a backlash by OPEC+. Of that amount, 32 million …

The United Arab Emirates said there was no need for OPEC+ to increase oil production any faster, despite pressure from major consumers such as the U.S. and Japan for the group to help ease gasoline prices. “There is no logic to increasing our contribution,” UAE Energy Minister Suhail Al-Mazrouei said …

Oman said there was no need for OPEC+ to accelerate oil-production increases, signaling at least some members of the group will continue to resist U.S. pressure for more crude. OPEC+ is already raising daily supply by 400,000 barrels per month and that’s enough, Oman’s Energy Minister Mohammed Al-Rumhy said in …

Surging oil and natural gas prices are spurring production increases from West Texas to the Upper Great Plains that probably will lift output to levels not seen since the early days of the pandemic, according to Rystad Energy AS. U.S. shale-oil production is expected to reach 8.68 million barrels a …

The U.S. government projected that the global oil market will become oversupplied and prices will fall by early next year, cooling expectations that the White House may tap the nation’s emergency reserves. Supply increases next year from OPEC nations as well as U.S. drillers will ultimately pressure prices lower. The …