Oil suffered its third weekly loss on Friday as growing indications of a possible global recession battered the commodity, overshadowing any supply-risk concerns. US benchmark West Texas Intermediate futures landed at $85.11, a 1.9% decline […]
NEW DELHI, Sept 14 (Reuters) – India will soon start trading with Russia in rupees as top lender State Bank of India (SBI.NS) has agreed to facilitate the new mechanism, the president of India’s exporter group said […]
NEW YORK, Sept 14 (Reuters) – Some trains carrying fuel components to the U.S. Northeast have been halted in preparation for a possible railroad shutdown in the coming days, two sources familiar with the situation […]
Global oil demand continues to lose momentum due to China’s economic weakness and a slowdown in countries of the Organization for Economic Cooperation and Development, the International Energy Agency said Sept. 14, trimming its 2022 […]
American Fuel & Petrochemical Manufacturers (AFPM) President and CEO Chet Thompson sent a letter to Congressional leadership—Speaker Nancy Pelosi, Senate Majority Leader Chuck Schumer, Senate Minority Leader Mitch McConnell and House Minority Leader Kevin McCarthy—urging […]
Energy companies are warning that a threatened nationwide rail strike already is wreaking havoc on their supply chains and may cause severe bottlenecks across multiple industries, including coal, chemicals and oil and gas. U.S. freight […]
(Bloomberg) — Saudi Arabia told OPEC that it raised its crude production to just over 11 million barrels a day last month, exceeding the symbolic level for the first time in two years as the […]
HOUSTON, Sept 12 (Reuters) – U.S. emergency crude oil stocks fell 8.4 million barrels last week to 434.1 million barrels, their lowest since October 1984, according to U.S. Department of Energy (DOE) data released on […]
Onshore crude oil inventories have been tightening and seem to be at an inflection point, according to energy and environmental geo-analytics company Kayrros. In a report sent to Rigzone on Monday, Kayrros stated that what […]
MOSCOW (MRC) — U.S. crude stockpiles surged by nearly 9 MM barrels last week due to a combination of increased imports and ongoing releases from government emergency reserves, said Reuters. Crude inventories rose by 8.8 […]
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