In response to Friday’s worse-than-expected inflation reading, which makes another drastic rate hike a foregone conclusion ahead of this week’s Fed meeting, stocks were getting hammered on Friday and Monday. The S&P 500 dropped 2.9 […]
(Bloomberg) — Exxon Mobil Corp., Marathon Petroleum Corp. and the other top U.S. oil refiners are on course to reap a combined $10 billion in profits this quarter even as U.S. President Joe Biden lambasts […]
The sanctions placed on Russia because of the Russia-Ukraine conflict have led to a $237.5 billion decline in the Eastern Europe oil and gas project pipeline as restricted access to intermediate goods and international capital […]
Ahead of potential IPO plans for its trading arm, Saudi Aramco is eyeing a merger between Aramco Trading Co and Motiva Trading, Reuters reported Thursday. Citing two unnamed sources “familiar with the matter”, Reuters reported that the […]
Struggling to re-establish its shredded and ridiculed credibility as inflation fighter, the Fed today concluded the most hawkish Fed meeting in decades. Following the CPI report last week that apparently had blown all doorknobs off inside […]
Crude oil futures were higher in mid-morning Asian trade June 16 as investors returned to buy the dip after the largest US interest rate hike in nearly three decades and builds in US oil inventories […]
Responding to record-high US gasoline and diesel prices, President Joe Biden has asked US refiners for their assistance in adding refining capacity to increase supply of gasoline and diesel. “I understand that many factors contributed […]
U.S. oil and gas supermajor Chevron has awarded a long-term deal to engineering company Worley for the provision of multiple services to its portfolio of onshore and offshore assets. Worley said that it secured a […]
WASHINGTON D.C. — The American Petroleum Institute on Tuesday released a “10 in 2022 plan”—10 policies that policymakers can advance today to unlock American energy, fuel economic recovery, and strengthen national security. As energy costs […]
Strict lockdowns in Shanghai and the resulting depressed fuel demand led in May to the largest annual decline in Chinese refinery production in at least the past decade, official data cited by Reuters showed on Wednesday. Last […]
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