Tag Archives: Investing

The Biden administration said on Tuesday it would take steps to restart the federal oil and gas leasing program in the next week and plans to hold a Gulf of Mexico auction as soon as October, court papers showed. The move comes two months after the U.S Interior Department first …

U.S. crude stockpiles fell by less than expected last week at time when investors are fraught with worry about the demand outlook as surging Covid-19 cases, particularly in China, have dented travel demand. West Texas Intermediate, the benchmark gained 3% to $68.50 a barrel on the news, after settling up …

OPEC and its allies, a group known as OPEC+, plan to hold their next meeting on Sunday to decide on their output policy, two OPEC+ sources told Reuters.

Oil was down Thursday morning in Asia, with a recent rally fizzling, as a build in U.S. gasoline inventories and a potential Organization of the Petroleum Exporting Countries and allies (OPEC+) agreement to increase supply clouded the black liquid’s outlook. Brent oil futures were down 0.68% to $74.25 by 1:38 …

Shell will join a project in Norway to produce hydrogen from natural gas while capturing the emissions, Aker Clean Hydrogen (ACH) said on Monday. Countries across Europe are looking at ways to produce emissions-free hydrogen to help reduce carbon emissions and avert global warming. Clean hydrogen can be produced from …

Oil prices rose for a second day on Friday as data showed a draw in U.S. inventories, but were headed for a weekly loss amid uncertainty about global supplies fuelled by an OPEC+ impasse. Brent crude oil futures were up 27 cents, or 0.4%, at $74.39 a barrel by 0644 …

Saudi Arabia and the United Arab Emirates cranked up the tension in their OPEC standoff as the rare diplomatic spat between long-time allies leaves the global economy guessing how much oil it will get next month. The bitter clash has forced OPEC+ to halt talks twice already, with the next …

Crude oil prices notched a sixth-weekly win Friday despite a sluggish end to the week as major oil producers attempt to reach a consensus on plans to ease production curbs. On the New York Mercantile Exchange crude futures rose 7 cents to $75.16 a barrel, while on London’s Intercontinental Exchange, …

Iraqi expects oil prices to reach $80 per barrel, the country’s state news agency reported on Sunday, citing an oil ministry spokesman. The spokesperson, Asim Jihad, did not give a timeframe for the increase he predicted. Crude prices have been on the rise over the past weeks, settling over $70/barrel …

Oil advanced as expectations for shrinking American crude and gasoline stockpiles added to signals that a demand recovery may be on the horizon in the U.S. and China. Futures edged 0.4% higher in New York on Tuesday, tracking a move higher in U.S. equities to fresh records. U.S. manufacturing expanded …