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Energy News Results

  • Ukraine wants lower cap on Russian oil, at $30-$40 per barrel

    - The price for Russian seaborne oil should be capped at between $30 and $40 per barrel, lower than the level that Group of Seven nations have proposed, Ukrainian President Volodymyr Zelenskiy said on Saturday.

  • EU delays talks on Russian oil price cap until next week - diplomats

    A meeting of European Union government representatives, scheduled for Friday evening to discuss a Group of Seven proposal to cap Russian seaborne oil prices, was cancelled, EU diplomats said. "There was not enough of a convergence of views," one diplomat said. "There won't be a meeting tonight nor this weekend," a second diplomat said.

  • Oil prices stable, but Chinese demand worries linger

    Oil prices were stable on Friday in thin market liquidity, closing a week marked by worries about Chinese demand and haggling over a Western price cap on Russian oil. Brent crude futures were up 22 cents, or 0.3%, to trade at $85.56 a barrel at 1447 GMT, having retraced some earlier gains. U.S. West Texas Intermediate crude futures were up 43 cents, or 0.6%, at $78.37 a barrel.

  • Oil prices fall 2% as Chinese demand worries linger

    Oil prices fell 2% on Friday in thin market liquidity, closing a week marked by worries about Chinese demand and haggling over a Western price cap on Russian oil. Brent crude futures settled down $1.71, or 2%, to trade at $83.63 a barrel, having retraced some earlier gains. U.S. West Texas Intermediate crude futures were down $1.66, or 2.1%, at $76.28 a barrel.

  • EU struggles with Russian oil price cap, talks to resume when positions converge

    European Union governments remained split on Thursday over what level to cap Russian oil prices at to curb Moscow's ability to pay for its war in Ukraine without causing a global oil supply shock, with more talks possible on Friday if positions converge.

  • Korea Zinc and Trafigura in talks over smelter venture

    Korean Zinc and commodities trader Trafigura are in advanced talks to form a joint venture to build a nickel smelter as part of the Korean company's expansion in renewable energy, batteries and resource recyling, they said late on Wednesday. Nickel is one of the key materials used to make electric vehicle batteries.

  • Oil muted as price cap proposal eases supply concerns

    -Benchmark Brent oil edged lower on Thursday while West Texas Intermediate crude held steady, hovering in sight of two-month lows as the level of a proposed G7 cap on the price of Russian oil raised doubts about how much it would limit supply. A bigger-than-expected build in U.S. gasoline inventories and widening COVID-19 controls in China also added downward pressure on crude prices.

  • U.S. natgas futures up 8% on colder weather forecasts

    U.S. natural gas futures jumped about 8% to a two-month high on the Wednesday before the Thanksgiving Day holiday on forecasts for much colder weather and higher heating demand over the next two ...

  • U.S. natgas up 11% on colder weather forecasts; storage report awaited

    U.S. natural gas futures jumped about 11% to a two-month high on the Wednesday before the Thanksgiving Day holiday on forecasts for much colder weather and higher heating demand over the next two ...

  • Oil slides over 3% on Russian price cap talks, U.S. gasoline build

    Oil prices fell more than 3% on Wednesday, continuing a streak of volatile trading, as the Group of Seven nations considered a price cap on Russian oil above the current market level and as gasoline inventories in the United States built by more than analysts' expected. Brent futures for January delivery fell $2.95, or 3.3%, to settle at $85.41 a barrel.

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