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(Reuters) - Global commodities trader Trafigura Group raised a $1.2 billion revolving credit facility from a consortium of banks to increase its financing pool in order to handle soaring energy and commodity prices, the company said on Tuesday. "It was set up in record time...thanks to the support of the group of underwriters, as the... Continue Reading →
(Reuters) - Western allies’ sanctions against Russia have started to blow back in the form of large potential losses for their own banks, companies and investors, often in unexpected ways. In the past, such fires have been precursors to financial crises. But some market participants say they aren’t seeing panic in the market, at least... Continue Reading →
(Rigzone) Traders piled into options that oil could surge even further after rising to the highest since 2008, with some even placing low-cost bets that futures surpass $200 before the end of March. Prices to buy call options at higher prices surged Monday as the market assessed the possibility of a supply cut-off from Russia,... Continue Reading →
(Reuters) - U.S. and Venezuelan officials discussed the possibility of easing oil sanctions on Venezuela but made scant progress toward a deal in their first high-level bilateral talks in years, five sources familiar with the matter said, as Washington seeks to separate Russia from one of its key allies. Both sides used Saturday's meeting in... Continue Reading →
(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 →
Brazil Energy Insight 