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(Reuters) - Oil prices spiked to their highest levels since 2008 on Monday amid market supply fears as the United States and European allies considered banning Russian oil imports and prospects for a swift return of Iranian crude to global markets receded. In the first few minutes of trade Brent crude reached $139.13 a barrel... Continue Reading →
(Reuters) - France's TotalEnergies (TTEF.PA) cuts a lonely figure hanging onto its Russian investments during a mass exodus of western oil majors from the country after its invasion of Ukraine, even though no sanctions have forced such divestments. "For existing assets, the company says it will respect European sanctions whatever the consequences. But for the moment, there... Continue Reading →
(Reuters) - Brazilian President Jair Bolsonaro on Thursday said state-run oil producer Petroleo Brasileiro SA could, due to the crisis inflicted by the war in Ukraine, lower its profit to prevent fuel prices from exploding. In a weekly social media address, Bolsonaro said he was certain Petrobras, as the company is known, would do what... Continue Reading →
(Reuters) - Bulls have surged into the U.S. crude oil options market in recent days as futures touch highs not seen in a decade, betting that crude's rally will persist, according to analysts and exchange data. The global oil market was already tight even before Russia invaded Ukraine last week, which has since sent benchmark... Continue Reading →
Credit ratings agency Moody’s has placed ratings of German oil and gas company Wintershall Dea on review for downgrade, reflecting downside credit risks stemming from the potential for additional, more severe sanctions against Russian businesses to affect the company’s operations and credit profile. According to Moody’s statement on Thursday, the decision to place Wintershall Dea’s... Continue Reading →
(Reuters) - Benchmark Brent crude oil prices climbed close to $120 a barrel on Thursday, with Russian oil exports disrupted as traders try to avoid becoming entangled in sanctions. Support also came from U.S. crude stockpiles at multi-year lows, helping to lift Brent crude futures as high as $119.84 a barrel for the highest level... Continue Reading →
(OE) Oil benchmarks are hitting multiple price and spread milestones across several key markets as the fallout from severe sanctions on key exporter Russia sows confusion and panic among global crude oil traders, shipping firms and importers. The oil industry has been gripped by acute risk aversion in the finance and shipping sectors after several... Continue Reading →
(Reuters) - Oil prices surged on Wednesday as supply disruption fears mounted following hefty sanctions on Russian banks amid the intensifying Ukraine conflict, while traders scrambled to seek alternative oil sources in an already tight market. Brent crude futures rose by more than $8, touching a peak of $113.02 a barrel, the highest since June... Continue Reading →
(Reuters) - Oil prices surged over 7% on Tuesday to their highest since 2014, as a global agreement to release crude reserves failed to calm fears about supply disruptions from Russia's invasion of Ukraine, and instead underscored energy shortage concerns. Members of the International Energy Agency (IEA), which include the United States and Japan, agreed... Continue Reading →
(Reuters) - TotalEnergies (TTEF.PA) condemned what it called Moscow's military aggression in Ukraine but stopped short on Tuesday of joining rivals Shell (SHEL.L) and BP in planning to exit positions in resource-rich Russia. The French oil major, which holds a 19.4% stake in Novatek (NVTK.MM), Russia's largest producer of liquefied natural gas, said it "will no longer provide capital for... Continue Reading →
Brazil Energy Insight 