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What's New Monday 24th of October 2022
Oil prices settle up; China demand hopes outweigh recession worry

NEW YORK, Oct 21 (Reuters) - Oil prices settled up on Friday as hopes of stronger Chinese demand and a weakening U.S. dollar outweighed concern about a global economic downturn and the impact of interest rate rises on fuel use.To fight inflation, the …

What's New Monday 17th of October 2022
French refinery strike further hits petrol supplies, prime minister says

PARIS, Oct 16 (Reuters) - Petrol supplies at French service stations fell further over the weekend due to a weeks-long strike at oil major TotalEnergies (TTEF.PA), Prime Minister Elisabeth Borne said on Sunday, prompting possible further requisitionin…

What's New Tuesday 11th of October 2022
EU countries eye deal on more energy measures within weeks

BRUSSELS, Oct 10 (Reuters) - European Union countries will seek a November deal on more emergency measures to tackle high gas prices, officials said, although countries still disagree on what form those measures would take and whether they should cap …

What's New Monday 10th of October 2022
South African state utility reinstates rolling power cuts from Monday

JOHANNESBURG, Oct 9 (Reuters) - South African state utility Eskom said on Sunday it would resume rolling power cuts from Monday till Wednesday during night-time to attend to unplanned breakdowns and replenish generation capacity.The beleaguered state …

What's New Sunday 9th of October 2022
France struggles with refinery strikes, but not planning petrol rationing

PARIS, Oct 8 (Reuters) - More than a fifth of Frances service stations were grappling with supply problems on Saturday, the energy ministry said, as strikes at refineries run by oil majors TotalEnergies (TTEF.PA) and ExxonMobil (XOM.N) continued to st…

What's New Saturday 8th of October 2022
EU leaders reaffirm support for Ukraine, squabble over gas price cap

PRAGUE, Oct 7 (Reuters) - European Union leaders on Friday agreed to give more financial and military aid to Ukraine, but a full day of talks in Pragues ornate royal castle seemed to bring them no closer to deciding on whether or how to cap gas prices…

What's New Friday 2nd of September 2022
Rising energy prices could fuel social unrest across Europe this winter

LONDON, Sept 2 (Reuters) - Europes wealthiest nations face rising risks of civil unrest over the winter, including street protests and demonstrations, due to high energy prices and mounting costs of living, according to a risk consultancy firm.Both Ge…

What's New Thursday 1st of September 2022
This decade's oil boom is moving offshore - way offshore

Aug 31 (Reuters) - Global oil companies are pumping billions of dollars into offshore drilling, reversing a long decline in spending on the decades-long projects including some in the remote iceberg waters far off Canadas Atlantic coast.Surging oil pr…

What's New Wednesday 31st of August 2022
New Russia gas halt tightens energy screws on Europe

FRANKFURT/LONDON, Aug 31 (Reuters) - Russia halted gas supplies via a major pipeline to Europe on Wednesday, intensifying an economic battle between Moscow and Brussels and raising the prospects of recession and energy rationing in some of the regions…

What's New Tuesday 30th of August 2022
Switzerland's engineering sector urges country to start energy saving now

ZURICH, Aug 30 (Reuters) - Switzerlands mechanical and electrical engineering sector said on Tuesday that businesses and households need to start energy savings immediately and called for more government support to help companies weather surging power…

What's New Monday 29th of August 2022
Oil climbs on prospect of OPEC supply cut, demand growth

Aug 29 (Reuters) - Oil prices rose 1% on Monday, as expectations that OPEC would cut output if needed to support prices, coupled with conflict in Libya and rising demand amid soaring natural gas prices in Europe, helped offset a dire outlook for U.S. …

What's New Friday 26th of August 2022
Exclusive: Chinese defense firm has taken over lifting Venezuelan oil for debt offset

SINGAPORE/HOUSTON, Aug 26 (Reuters) - China has entrusted a defense-focused state firm to ship millions of barrels of Venezuelan oil despite U.S. sanctions, part of a deal to offset Caracas billions of dollars of debt to Beijing, according to three so…

What's New Wednesday 24th of August 2022
Oil Prices Rise On Major Crude Inventory Draw

The American Petroleum Institute (API) reported a large draw this week for crude oil of 5.632 million barrels, while analysts predicted a draw of 448,000 barrels.The build comes as the Department of Energy released a massive 8.1 million barrels from t…

What's New Tuesday 23rd of August 2022
Europe Splurges on Russian Oil As EU Ban Nears

Ahead of the December 5th implementation of a European Union ban on seaborne imports of Russian crude, European buyers are now said to be buying up more Russian oil than they have in four months. Last week, seaborne exports of Russian crude oil to Eur…

What's New Monday 22nd of August 2022
Oil Jumps On Massive Crude Inventory Draw

Crude oil prices moved higher today, after the Energy Information Administration estimated a draw in oil inventories of 7.1 million barrels for the week to August 12.This compared with a build of 5.5 million barrelsreported for the previous week. A da…