Oil price

Jet fuel demand set to increase 30% in summer

The airline industry is at a critical inflection point. Regular vaccination deployments and declining infection rates in most Western economies allow commercial travel to resume after more than a year of stoppage. Altered vacation trips, postponed family reunions, newborn meetups, weddings, attending memorial services for loved ones are the new …

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Data-rich week could lead to price swings in oil markets

Daniel Graeber, Corresponding June 7, 2021Update: June 7, 2021 at 5:35 am A series of reports updating demand forecasts could lead to price swings in oil markets this week. Elizabeth Conley, Houston Chronicle / Staff Photographer Monthly market reports from OPEC, EIA and IEA could result in a volatile week …

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Top-tier hedge funds bet on little-known oil company

A high-profile hedge fund group is hoping to turn the tide of a crumbling battered North Sea oil and gas company in which they have built significant positions as energy prices soar. Taconic Capital, CQS and Kite Lake Capital are among the funds that hold positions in Norwegian Energy Company …

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US trillion dollar infrastructure security crisis

Last Friday, a cyberattack shut down America’s largest energy infrastructure, the Colonial Pipeline System, which supplies nearly half of the gasoline and diesel consumed by the East Coast. The attack naturally led to a rise in gasoline prices and a race on gas as drivers worried about impending shortages as …

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Record Metal Prices Catapult Mining Profits Beyond Big Oil

Large oil producers, who for decades were the biggest earners in the natural resources industry, are being eclipsed by once smaller mining peers who are making record profits from burning metals markets. The mining windfall is the latest sign of a boom in iron ore, copper and other metals that …

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Fuel prices unchanged as COVID-19 surge keeps crude stable, Energy News, ET EnergyWorld

New Delhi: Fuel prices in the country remained unchanged on Tuesday as oil marketing companies decided to press pause and analyze global developments before making a review. As a result, the pump price of gasoline and diesel remained at Rs 90.40 per liter and Rs 80.73 per liter respectively in …

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BP Repurchases Shares As Oil Price Recovery Boosts Profits

Oil giant BP BP 1.63% PLC said it would increase shareholder returns after higher oil prices and strong trading results supported its first quarter earnings, the strongest sign to date that a recovery is underway in one of the sectors most affected by the pandemic. Oil companies have gone through …

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Exxon withdrew from oil trade amid pandemic as rivals were making their fortunes

An Exxon gas station is seen in Houston, Texas, the United States on April 30, 2019. REUTERS / Loren Elliott Exxon Mobil’s efforts to create an energy trading company to compete with those of European oil majors quickly collapsed last year as the company slashed funding for the unit amid …

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BP Quarterly Profit Reaches $ 3.3 Billion As Oil Prices Rebound | BP

BP has announced its biggest quarterly profit since the start of the Covid pandemic and will offer investors a windfall of $ 500 million (£ 360 million) as global oil markets recover from the crisis. The oil company posted a profit of $ 3.3 billion for the first quarter, up …

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Silver prices today: Commodity strategies: gold, silver, crude, base metals

By Tapan Patel Commodity prices traded higher on Tuesday, continuing the trend of the previous session. On Monday, bullion prices remained at a narrow trading range as base metals continued to soar on optimism in demand growth. Gross ended in green after an early decline. The dollar index and US …

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COVID-19, moderate oil price will leave most of Gulf in the red this year: Fitch

DUBAI (Reuters) – The lingering impact of the COVID-19 pandemic and the sharp drop in oil prices last year will leave most Gulf governments with deficits this year, rating agency Fitch said. FILE PHOTO: Flames are seen at Saudi Aramco’s Shaybah Oilfield production facility in Empty Quarter, Saudi Arabia, May …

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OPEC Ministerial Meeting in Brief

The price of crude oil has responded to the rise in COVID-19 cases in proportions equal to the continued optimism of the global economic recovery. Subsequently, it remained linked to its range before the OPEC ministerial meeting scheduled for Wednesday. At Monday’s Joint Technical Committee meeting, OPEC Secretary General Mohammad …

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The 5 most influential oil companies in the world

At a virtual climate summit with 41 world leaders, President Joe Biden on Thursday unveiled an ambitious 10-year climate plan that proposes to cut U.S. greenhouse gas emissions by 50 to 52 percent d ‘by 2030. This represents a quasi-doubling the US commitment of a 26-28% reduction under the Obama …

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Suriname hopes to become South America’s newest oil exporter

As Guyana prepares to become a major oil-producing nation, the spotlight is firmly on the Guyana-Suriname basin and Suriname, the former British colony’s neighbor. After decades of poor drilling results, ExxonMobil’s string of major high-quality oil discoveries in the Stabroek block off Guyana has rekindled interest in the oil potential …

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Surprise from Libyan oil production puts pressure on prices

Given the current imbalance between global oil supply and demand following the great waves of Covid-19 that hit the world last year, reports that Libya is now targeting 1.45 million barrels per day of oil production by the end of this year, 1.6 million bpd within two years and 2.1 …

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Nordic Oil Firm Sells World’s First Certified Carbon Neutral Oil

Lundin Energy, based in Sweden mentionned Monday that he had sold the world’s first certified crude oil produced with net zero emissions from an oil field off the coast of Norway. Lundin Energy, which is active in many areas off the coast of Norway, the largest oil and gas producer …

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EU admits it can’t go to zero without natural gas

The past week was marked by much needed good news for natural gas. The European Union has indicated that it will include natural gas in its energy plans for the future, emissions and everything. The bad news is that by talking about emissions, the EU could force suppliers to minimize …

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Canada fights to save Line 5 from shutdown

Canada has repeatedly raised with senior U.S. officials, including President Joe Biden, the issue of Enbridge’s Line 5 that Michigan wants to close, and is considering intervening in the legal dispute between the pipeline operator. and the U.S. state, sources familiar with Canada’s plans said. Reuters. The Line 5 pipeline …

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The Ugly Truth About Renewable Energy

When Texas literally froze in February, some blamed the power outages that left millions of Texans in the dark over wind turbines. Others blamed them on gas-fired power plants. The truth is not that simple politically. In truth, both wind turbines and gas plants froze due to abnormal weather conditions. …

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Crude Oil Price Forecasts – Crude Oil Markets Continue to Struggle

WTI crude oil The West Texas mid-market crude oil market fell significantly during Monday’s trading session as traders start to worry about India’s slowdown. After all, we are starting to see signs of declining domestic demand, which of course is very negative for crude oil as India is the world’s …

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Missed opportunity: Hedges to reduce first-quarter profit for U.S. shale oil producers

A sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, USA, November 22, 2019. REUTERS / Angus Mordant U.S. oil and gas operators face billions of dollars in hedging losses that will weigh on first quarter results as the …

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Oil prices, IOG, United O&G. And finally…

Oil is really in the doldrums, last week WTI was down 99 cents and Brent down 66c, Wednesday’s Opec + meeting may not have much to do. Overnight India noted another 350,000 cases of Covid, which is horrific and its GDP growth of 12.5% ​​maybe for another day. That said, …

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