Tag Archives: Oil Price

A group of four dozen institutional investors that hold a combined 2.5% stake in BP are urging the supermajor to put to vote any fundamental reset of its strategy that could include easing its climate targets, the Financial Times reported on Wednesday, citing a letter from the 48 investors it …

As U.S. President Donald Trump pushes for talks with Russia for an end to the war in Ukraine, the EU on Wednesday agreed on a new package of sanctions against Moscow, including a ban on Russian aluminum imports and the designation of 73 shadow fleet vessels. A day after senior …

Potential sanctions relief on Russia in case of a ceasefire or peace deal for Ukraine will not boost materially Russia’s oil supply to the market, according to Goldman Sachs. As the U.S. and Russia launched talks on Ukraine and potential U.S.-Russia economic rapprochement, oil market participants and analysts have started …

Europe’s diesel markets are flashing signs of tightness, with near-term diesel contracts on Tuesday hitting the steepest backwardation–a situation where futures contracts for prompt delivery are more expensive than those further down the curve–since March. Backwardation is often interpreted as a sign of limited supply, with traders now willing to …

European bodies recently criticized U.S. President Donald Trump’s order to introduce tariffs on all steel and aluminum imports entering the country. Meanwhile, experts at home and abroad continue to evaluate how the trade dispute will affect steel prices and aluminum prices. The European Commission, the European Union’s executive arm, recently …

The European Union, ever the conflicted protagonist in its own energy saga, is gearing up to throw its weight around in the global LNG market—again. A leaked draft from the European Commission suggests Brussels will “immediately engage” with LNG suppliers to stabilize energy prices, all while still pretending it’s on …

The Group of Seven is considering collectively tightening an oil price cap on Russian petroleum in an effort to cut Moscow’s oil revenues as the war in Ukraine rages on, Bloomberg has revealed. A draft statement seen by Bloomberg shows that these nations could task their finance ministers to collectively …

Germany’s year-ahead power futures prices fell this week to the lowest level since the beginning of the year amid falling European natural gas prices as talks on a peace deal in Ukraine began. In recent months, Germany has become more dependent on fossil fuel-powered generation amid low wind speeds that …

With Iraq’s hydrocarbons making waves and LNG and KRG oil hitting the headlines, the potential for a bright future in the energy sector is becoming increasingly evident. Iraq’s hydrocarbon future looks promising if Prime Minister Al Sudani’s government can implement a more functional and feasible investment strategy in the coming …

Saudi Arabia’s crude oil exports fell in December by 60,000 barrels per day (bpd) from the seven-month high in November, the latest data from the Joint Organizations Data Initiative (JODI) showed on Tuesday. In November, Saudi crude oil exports jumped by 281,000 bpd to 6.21 million bpd—a seven-month high, according …