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(Reuters) - Brazil's central bank weighed accelerating the world's most aggressive monetary tightening, minutes from its last policy meeting showed on Tuesday, but uncertainty about a post-pandemic rebound led it to stay the course on 100-basis-point rate hikes. The minutes of the Sep. 21-22 meeting, when the bank raised its Selic policy rate to 6.25%,... Continue Reading →
Oil markets climbed for a sixth day on Tuesday, boosted by a tighter supply and firm demand outlook, but power shortages in China which hit factory output tempered the rally. Brent crude futures gained 67 cents, or 0.8%, to $80.20 a barrel at 1016 GMT, after reaching their highest level since October 2018 at $80.75.... Continue Reading →
(Reuters) - Oil prices rose for a fifth straight day on Monday with Brent at its highest since October 2018 and heading for $80 amid supply concerns as demand picks up in parts of the world with the easing of pandemic restrictions. Brent crude was up 92 cents or 1.2% at $79.01 a barrel by... Continue Reading →
(Reuters) - Oil prices steadied on Friday near a two-month high of $77.50 a barrel and were headed for a third straight week of gains, supported by global output disruptions and inventory draws. The rally was slightly dampened by China's first public sale of state crude reserves. Brent crude was up 222 cents, or 0.28%,... Continue Reading →
(Reuters) - Brazil's central bank on Wednesday raised interest rates by 100 basis points and flagged a third straight hike of that size in October as it battles surging inflation with the world's most aggressive monetary tightening. The bank's rate-setting committee, known as Copom, decided unanimously to raise its benchmark rate to 6.25% as forecast... Continue Reading →
Harbour Energy, a London-listed oil firm created through a merger between Chrysaor and Premier Oil, has decided to exit the Sea Lion oil field development in the Falkland Islands. The company has a 60 percent stake in the oil field, with Rockhopper Exploration holding the remaining 40 percent stake. The field was discovered in 2010 by Rockhopper,... Continue Reading →
(Reuters) - Brazil's central bank has put itself on the front line of the global battle against inflation, but its aggressive monetary tightening risks choking the economy. With annual inflation at 10%, the central bank will fail to meet its 3.75% central target this year and possibly next year's 3.50% goal too. A chronically weak... Continue Reading →
Hedge funds purchased crude after disruption to offshore production in the Gulf of Mexico lasted longer than expected, extending a drawdown of already-tight petroleum inventories. In the week to Sept. 14, hedge funds and other money managers purchased the equivalent of 41 million barrels in the six most important petroleum futures and options contracts, according... Continue Reading →
Oil held above $75 a barrel on Thursday, within sight of a multi-week high hit a day earlier, supported by a big drop in U.S. crude inventories and surging European natural gas prices. U.S. crude inventories fell by 6.4 million barrels last week, more than the 3.5 million-barrel drop analysts expected, with offshore oil facilities... Continue Reading →
(Portos e Navios) About one in four tankers is approaching retirement age. The information is from the UK tanker broker Gibson, who estimates between 20% and 30% the portion of tankers over 15 years old — approaching the retirement age in the coming years. The number may reflect the formulation of new green regulations by... Continue Reading →
Brazil Energy Insight 