As October drew to a close, the White House saw another potential energy flashpoint on the horizon.
Diesel and heating oil inventories in the US Northeast were getting worryingly low, Bloomberg reported.
Officials swung into action, organizing a series of calls between Energy Secretary...
Oil prices fell more than $1 a barrel on Monday after Chinese officials on the weekend reiterated their commitment to a strict Covid containment approach, dashing hopes of an oil demand rebound at the world's top crude importer.
Brent crude futures dropped $1.20, or 1.2%, to $97.37 a barrel,...
Oil climbed on Friday as the dollar eased and supply risks lingered, while recession fears and China’s Covid outbreaks kept a check on prices.
Brent crude futures were up $1.84, or 1.9%, to $96.51 a barrel. The contract is headed for a weekly climb of more than 0.5%, Reuters reported.
US West...
Oil prices rose more than 1% on Wednesday after industry data showed a surprise drop in US crude inventories, suggesting demand is holding up despite steep interest rate hikes dampening global growth.
Brent crude futures rose $1.13, or 1.2%, to $95.78 a barrel, while US West Texas Intermediate...
An excess of supply in the oil market was the main reason for OPEC+ opting to cut production earlier this month, according to the group’s secretary-general.
“We see a surplus in the fourth quarter,” Haitham al Ghais told reporters at the Adipec energy conference in Abu Dhabi, the UAE, Bloomberg...
The UAE’s energy minister said on Monday OPEC+ is keen on providing the world with the oil supply it needs, driving home the message that the alliance of top producers will always be in a position to balance markets.
“OPEC+ will always remain a trusted technical organization to balance oil...
Oil prices fell over $1 on Monday following weaker-than-expected factory activity data out of China and on concerns its widening Covid-19 curbs will curtail demand.
Brent crude futures dropped $1.10, or 1.2%, to $94.67 a barrel, after slipping 1.2% on Friday, Money.usnews.com reported.
US West...
Global energy giants, including Exxon Mobil Corp and Chevron Corp, posted another round of huge quarterly profits, benefiting from surging natural gas and fuel prices that have boosted inflation around the world and led to fresh calls to further tax the sector.
Four of the five largest global...
Oil prices eased on Wednesday after industry data showed US crude stockpiles rose more than expected, but losses were capped by supply worries.
Brent crude futures for December fell 72 cents, or 0.8%, to $92.80 a barrel, after settling 26 cents higher in the previous session, Money.usnews.com...
Tightening markets for liquefied natural gas worldwide and major oil producers cutting supply have put the world in the middle of the first truly international energy crisis, the head of the International Energy Agency said on Tuesday.
Rising imports of LNG to Europe amid the Ukraine crisis and...