Oil jumped to the highest in six weeks amid signs of a rapidly tightening market after a U.S. government report showed a bigger-than-expected decline in crude stockpiles. Futures in New York surged 3.1% on Wednesday […]
Enbridge Inc. announced Sept. 7 that it has entered into a definitive purchase agreement with EnCap Flatrock Midstream to acquire Moda Midstream Operating LLC $3 billion USD in cash, subject to closing adjustments. The acquisition will […]
Insurers are bracing for a hit of about $1 billion from physical damage to offshore rigs and structures from Hurricane Ida, according to preliminary estimates from U.S. property data and analytics company CoreLogic. The estimate […]
Is US$200 a barrel oil likely if policies to reduce climate change take hold? Yes, says a Middle East oil minister and industry analysts. But not until the mid-century deadline for net-zero emissions. It would […]
Oil prices could hit $100 per barrel over the next six months if we have a colder-than-usual winter, which could be the most important driver of global energy markets in the coming months, Bank of America […]
U.S. oil demand continues its upward trajectory—reaching a record high last week–while product inventories have fallen to the lowest levels in three years. If the demand trend holds, oil prices have room to rise even […]
OPEC will likely revise down its 2022 oil demand growth forecast on Monday, two OPEC+ sources said, as the spread of the Delta coronavirus variant puts the speed of a recovery in fuel use in […]
Stronger hurricanes threatening the U.S. Gulf Coast energy hub are elevating the risks of oil spills from damage to area refineries, oil platforms, and subsea pipelines, say experts. On Monday, the U.S. Coast Guard said […]
Oil in New York posted its second weekly gain as the impact of Hurricane Ida continues to snarl U.S. oil production, though prices edged lower Friday following a weak U.S. jobs report. West Texas Intermediate […]
Five days after Hurricane Ida slammed into Louisiana, the true damage to the region’s energy infrastructure is only now starting to come to light. The challenges for companies to get out and inspect has been […]
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