Oil prices skidded in early trade on Wednesday amid a push by U.S. President Joe Biden to bring down soaring fuel costs, including pressure on major U.S. firms to help ease the pain for drivers during the country's peak summer demand.
U.S. natural gas futures fell about 2% to an eight-week low on Tuesday on forecasts
for less demand over the next two weeks than previously projected and expectations the Texas Freeport
liquefied ...
U.S. natural gas futures fell about 4% to an eight-week low on Tuesday on forecasts
for less demand over the next two weeks than previously projected and expectations Texas Freeport liquefied
natural ...
* Exxon Mobil CEO expects tight oil market to last years. * U.S. energy secretary to meet with oil CEOs on Thursday. * Biden weighs gasoline tax holiday. * EU leaders to keep sanction pressure on Russia. By Arathy Somasekhar. Oil prices edged up on Tuesday on high summer fuel demand while supplies remained tight because of sanctions on Russian oil after its invasion of Ukraine.
Oil prices edged up on Tuesday on high summer fuel demand while supplies remained tight because of sanctions on Russian oil after its invasion of Ukraine. Brent crude futures settled 52 cents, or 0.5%, higher at $114.65 a barrel. Both benchmarks posted a weekly loss last week.
Oil prices rose 1% in early trade on Tuesday, clawing back more of last week's losses as the focus returned to tight supply of crude and fuel products versus concerns about a recession hitting demand down the track. Brent crude futures rose $1.32, or 1.2%, to $115.45 a barrel at 0040 GMT, adding to a 0.9% gain on Monday.
United Airlines expects fuel prices to stay high in the long-term, its chief executive said on Monday. Scott Kirby, speaking to reporters in Doha, also said that based on current prices the airline's fuel bill would total $12 billion this year.
United Airlines expects fuel prices to stay high in the long-term, its chief executive said on Monday. Scott Kirby, speaking to reporters in Doha, also said that based on current prices the airline's fuel bill would total $12 billion this year.
Qatar Airways' chief executive said on Monday the industry's net-zero 2050 target, which was set last year, would be difficult for airlines to achieve. It is going to be "very challenging", Akbar Al Baker told a press conference at the International Air Transport Associations annual meeting of airline chiefs in Doha.
Qatar Airways Chief Executive Akbar Al Baker said on Monday that labour shortages at airports around the world will be a big challenge in the coming months, though he added that his airline is "inundated with job applications."
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