EU unveils 210 bln euro plan to ditch Russian fossil fuels
BRUSSELS, May 18 (Reuters) - The European Commission on Wednesday unveiled a 210 billion euro plan for Europe to end its reliance on Russian fossil fuels by 2027, and to use the pivot away from Moscow to quicken its transition to green energy.The inva…
Oil falls 2% on Powell comments, hopes for Venezuela supply
NEW YORK, May 17 (Reuters) - After hitting seven-week highs, oil prices slumped 2% on Tuesday as Reuters reported that the United States could ease some restrictions on Venezuelas government, raising hopes that the market could see some additional sup…
Texas heatwave to test power grid again this week
May 16 (Reuters) - A heatwave will test the Texas power system again this week after power plant failures late Friday caused prices to spike, forcing the grid operator to urge homes and businesses to turn up their air conditioner thermostats to conser…
Oil prices open lower as EU struggles to seal Russia import ban
May 17 (Reuters) - Oil prices opened lower in early Asian trade on Tuesday after the European Unions efforts to enact a ban on Russian oil imports, a move that would tighten global supply, ran into resistance from member country Hungary.Brent crude fu…
Oil rises but fears of weaker demand limit gains
SINGAPORE, May 13 (Reuters) - Oil prices extended gains on Friday but were headed for their first weekly loss in three weeks as worries about inflation and Chinas COVID lockdowns slowing global growth offset concerns about dwindling fuel supplies from…
Oil eases after surging in previous session on Russia's sanctions
May 12 (Reuters) - Oil prices eased in early Asian trade on Thursday, taking a pause after rising more than 5% in the previous session following new Russian sanctions on some European gas companies.On Wednesday Russia sanctioned 31 companies based in …
Oil falls on uncertainty over Russian energy embargo by EU
May 11 (Reuters) - Oil edged lower in early Asian trade on Wednesday, sustaining the previous sessions weakness that was caused by risks to demand from an economic recession and on uncertainty about an embargo on Russian oil by the European Union.Bren…
Oil tumbles about 6% as China COVID lockdowns weigh
NEW YORK, May 9 (Reuters) - Oil prices sank about 6% on Monday alongside equities, as continued coronavirus lockdowns in China, the top oil importer, fed worries about the demand outlook.Brent crude fell $6.45, or 5.7%, to settle at $105.94 a barrel. …
OTC 2022: Department of Energy to boost investment in U.S. offshore wind development
HOUSTON (WO) — The offshore wind sector has made huge strides over the last year, putting the industry on track to achieve President Joe Biden’s goal of reaching 30 gigawatts of offshore wind generation by 2030. To ensure its success, the U.S. Depar…
Oil falls as demand concerns weigh against tight supply
May 6 (Reuters) - Oil prices dipped at the start of Asian trade on Friday as worries about an economic downturn that could dampen demand for crude vied with concerns over new sanctions from the European Union against Russia, including an embargo on cr…
Explainer: How Russian oil sanctions could impact Europe
LONDON, May 4 (Reuters) - The European Union has proposed a phased embargo of Russian oil, tightening its sanctions on Moscow for its invasion of Ukraine. What would the impact be of banning Russian barrels in Europe?WHAT DOES THE EU CURRENTLY IMPORT…
Oil eases as China lockdowns weigh on demand outlook
SINGAPORE, April 29 (Reuters) - Oil edged lower on Friday as Chinas COVID-19 lockdowns weighed on the outlook for crude demand, although supply disruption fears as Western sanctions curb crude and products exports from Russia underpinned prices.Brent …
Europe decries 'blackmail' as Russia cuts gas to Poland, Bulgaria
SOFIA/WARSAW, April 27 (Reuters) - Russias Gazprom (GAZP.MM) cut Poland and Bulgaria off from its gas on Wednesday for refusing to pay in roubles, and threatened to do the same to others, cranking up retaliation for Western sanctions imposed for Mosco…
Oil prices extend losses as Shanghai lockdowns hit demand outlook
TOKYO, April 25 (Reuters) - Oil prices extended losses on Monday amid persistent worries that prolonged COVID-19 lockdowns in Shanghai and potential U.S. rate hikes would dent global economic growth and fuel demand.Brent crude futures slid $1.90, or 1…
Oil falls, posts nearly 5% weekly loss on growth concerns
HOUSTON, April 22 (Reuters) - Oil slipped on Friday, posting a weekly loss of nearly 5%, on the prospect of weaker global growth, higher interest rates and COVID-19 lockdowns in China hurting demand even as the European Union considers a ban on Russia…
Ukraine lobbies for cuts in Russian Nord Stream 1 gas shipments
WASHINGTON, April 20 (Reuters) - Ukraine is working behind the scenes to convince Western allies to shift Russias shipments of natural gas from the Nord Stream 1 pipeline to Ukraines pipeline, increasing Kyivs leverage in its conflict with Russia, ene…