Energy News Results

  • GLOBAL LNG-Asian spot prices rise on oil surge and heating demand

    * Lower temperatures expected in Beijing, Shanghai, Seoul. * Loadings from Bintulu returning to normal - trade. * U.S. LNG shipments near record levels. By Sabrina Valle and Jessica Jaganathan. Asian spot prices for liquefied natural gas rose this week, driven by a surge in oil prices and a potentially colder start to winter and higher heating demand.

  • Oil prices post weekly gain ahead of OPEC+ meeting

    * Brent rises 7.2% in week; WTI gains 8% * OPEC+ leaning towards oil cut extension, despite rally -sources. * Questions over AstraZeneca (AZN) vaccine, scientists sound caution. By Stephanie Kelly. Oil prices were mixed on Friday but posted a fourth straight week of gains ahead of an OPEC+ meeting early next week.

  • Oil prices post weekly gain ahead of OPEC+ meeting

    Oil prices were mixed on Friday but posted a fourth straight week of gains ahead of an OPEC+ meeting early next week. Brent crude January futures rose 38 cents to settle at $48.18 a barrel, while the more active February contract gained 46 cents to $48.25. U.S. West Texas Intermediate crude futures fell 18 cents to settle at $45.53 a barrel.

  • Oil mixed as rally falters over supply concerns, vaccine doubts

    Oil prices were mixed on Friday in quiet trade due to the U.S. Thanksgiving holiday, with West Texas Intermediate dropping more than 1% amid concerns about oversupply and doubts about a vaccine to end the coronavirus pandemic. WTI was down by 69 cents, or 1.5%, at $45.02 by 0104 GMT.

  • Vitol-backed Cockett targeted by Brazil's Car Wash corruption probe

    Brazilian police carried out search warrants on Thursday as part of a growing graft probe into the global maritime fuels market, after three executives linked to Dubai-based Cockett Marine Oil Ltd admitted to bribing a Petrobras employee for sweetheart deals, court documents show.

  • Oil rally stalls despite surprise fall in U.S. stocks

    Oil slipped on Thursday, stalling a rally driven by a surprise fall in U.S. crude inventories that added to bullishness over expectations progress on vaccines may end the coronavirus pandemic and revive fuel demand. Having spent the Asian trading day higher, Brent futures were down 1 cent at $48.60 a barrel by 0746 GMT, after rising around 1.6% in the previous session.

  • Brazil's Petrobras slashes spending plan as lower oil prices bite

    Brazil's state-controlled oil company Petroleo Brasileiro SA cut its five-year investment plan by 27% from a year ago to $55 billion to preserve cash, as the coronavirus pandemic drove down global oil demand and prices.

  • TABLE-UAE's Fujairah oil inventory data for week ended Nov 23

    Fujairah Oil Industry Zone on Wednesday published the following weekly inventory data for oil products for the week ended Nov. 23, according to industry information service S&P Global Platts.

  • Oil rally stalls on signs of more supply, demand doubts

    Oil slipped from seven-month highs on Thursday as signs of growing supplies helped to halt a rally driven by optimism that COVID-19 vaccines will revive fuel demand. Brent futures had risen to nearly $50 a barrel this week after three major pharmaceutical companies announced progress on vaccines that could start to be rolled out before the end of the year.

  • Oil extends gains on surprise U.S. inventory draw amid vaccine rally

    U.S. oil rose for a fifth day on Thursday as a surprise drop in crude inventories extended a rally driven by hopes that vaccines would end the coronavirus pandemic and revive fuel demand. Brent was up by 20 cents, or 0.4%, at $48.81 a barrel, after rising around 1.6% in the previous session.

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