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(Reuters) - Oil prices dropped to their lowest in almost three weeks on Tuesday as Russia indicated it is in favour of the Iran nuclear deal resuming as soon as possible. Ceasefire talks between Russia and Ukraine further eased fears of supply disruptions and surging COVID-19 cases in China fuelled concerns about slower demand. Brent... Continue Reading →
(Reuters) - Oil prices shed as much as $4 a barrel on Monday, extending last week's decline as diplomatic efforts to end the war in Ukraine geared up and markets braced for higher U.S. interest rates. Brent crude futures were last down by $3.81 or 3.4% at $108.86 a barrel at 0741 GMT on Monday.... Continue Reading →
(Reuters) - Oil prices settled lower on Thursday after a volatile session, a day after its biggest daily dive in two years, as Russia pledged to fulfil contractual obligations and some traders said supply disruption concerns were overdone. Since Russia's Feb. 24 invasion of Ukraine, oil markets have been the most volatile in two years.... Continue Reading →
(Reuters) - Norwegian energy giant Equinor (EQNR.OL) has stopped trading Russian oil as part of its plan to wind down its operations in Russia in the wake of the invasion of Ukraine, Chief Executive Anders Opedal told Reuters on Thursday. Equinor joins other major oil and gas traders including Shell (SHEL.L), BP and France's TotalEnergies(TTEF.PA)in its decision to... Continue Reading →
(Reuters) - The U.S. oil industry and President Joe Biden's administration are clashing over who is to blame for tight energy supplies that have driven up U.S. pump prices to record highs. Big Oil blames the problem on Biden's tighter regulations and push for renewable energy, which it says threaten to constrain output. The White... Continue Reading →
(OE) The UK on Thursday announced sanctions, including a full asset freeze and travel ban, against seven oligarchs including Russian oil company Rosneft's CEO Igor Sechin and Gazprom's CEO Alexey Miller, over the Russian invasion of Ukraine. The UK government said that in an effort to "to isolate Putin and those around him, these oligarchs... Continue Reading →
(Reuters) - A second day of interministerial meetings in Brazil to discuss proposed fuel subsidies ended without a decision on Wednesday, four government sources said, as focus shifts to a Senate vote changing the calculation of state taxes for fuels. Earlier in the day, President Jair Bolsonaro met with his chief of staff, the energy... Continue Reading →
(Reuters) - Oil prices plunged over 17% on Wednesday after the United Arab Emirates said the OPEC member would support boosting supply into a market in disarray because of supply disruptions caused by sanctions imposed on Russia after it invaded Ukraine. Brent crude fell more than 17%, or $22, during a sharp selloff before recovering... Continue Reading →
(Reuters) U.S. President Joe Biden announced a ban on Russian oil and other energy imports on Tuesday in retaliation for the invasion of Ukraine, underscoring strong bipartisan support for a move that he acknowledged would drive up U.S. energy prices. "We're banning all imports of Russian oil and gas energy," Biden told reporters at the... Continue Reading →
(Reuters) - Global oil prices could rise to $200 a barrel if Europe and the United States ban imports of Russian oil, analysts at Oslo-based consultancy Rystad Energy said on Tuesday. Oil prices jumped on Monday to their highest since 2008 on fears of a Western ban on Russian oil imports while a return of... Continue Reading →
Brazil Energy Insight 