Oil & Gas

Oil fell to its lowest in almost three weeks, with technical indicators driving the market’s direction amid a lack of clarity on crude demand.  While China’s reopening spurred a rally in crude in recent weeks, the market has struggled to hold those levels as prices test their 50-day and 100-day moving averages. That’s prompting commodity

Global investments in the clean energy transition hit $1.1 trillion in 2022, roughly equal to the amount invested in fossil fuel production, the research firm said in its “Energy Transition Investment Trends 2023” report. Never before has the amount spent on switching to renewable power, electric cars and new energy sources like hydrogen topped $1

ExxonMobil, Chevron, Shell, TotalEnergies, and BP reaped almost $200 billion collectively last year but fears of an economic slowdown, plunging natural gas prices, cost inflation and uncertainty over China’s re-opening are dimming the outlook for 2023. The five companies are expected to report $198.7 billion in combined 2022 profit in the coming days, 50% higher

A maze of crude oil pipe and equipment is seen with the American and Texas flags flying in the background at the Strategic Petroleum Reserve in Freeport, Texas. Richard Carson | Reuters WASHINGTON — The U.S. House of Representatives passed a bill Friday aimed at limiting the president’s ability to draw down the nation’s Strategic

Bulls approached and quickly withdrew from oil’s 100-day moving average, driving crude to its first weekly loss since the start of the year.  West Texas Intermediate shed 2% this week with much of that retreat occurring on Friday. Throughout the week, oil rallied on optimism driven by China’s gathering rebound only to swing as risk-off

Oil gained as energy traders grew more confident about the commodity’s immediate outlook. Global benchmark Brent flipped from contango into a backwardated structure with the March contract surpassing April’s. The flip to oil being more expensive in the near-term signals that traders see demand outpacing supply. The spread was in contango for most of January.

Oil edged higher in a volatile session as technical market indicators signaled to traders that higher prices may be around the corner.  West Texas Intermediate managed to hold above $80 a barrel on Wednesday after swinging through much of the session. Rising US crude inventories and so far lackluster corporate earnings kept gains in check

Oil erased gains from the past two sessions as earnings from multiple US companies disappointed, potentially signaling a dour short-term outlook for energy traders. West Texas Intermediate settled at $80.13 a barrel, shedding almost 2%, the biggest drop since the first week of January. Oil succumbed to broader market pressure after disappointing results from a

Oil prices fell slightly Monday as rising stockpiles in the US outweighed optimism that Lunar New Year festivities in China boosted demand.  West Texas Intermediate dipped 2 cents to $81.62 a barrel on Monday, marking only the second time oil prices have dropped in the last 12 trading sessions.  WTI’s prompt spread sold off after

Abu Dhabi National Oil Co. has added banks including HSBC Holdings Plc and EFG Hermes to help arrange the planned initial public offering of its natural gas business, according to people with knowledge of the matter. State-owned Adnoc also plans to hire Abu Dhabi Commercial Bank PJSC, Arqaam Capital and International Securities as joint bookrunners

The Netherlands is leading calls for the European Union to target zero emissions from heavy-duty vehicles to bring the polluting sector in line with its climate neutrality goals. The European Commission should set a goal of reducing emissions by 100% from new trucks, buses, and coaches, according to a document seen by Bloomberg and also

U.N. Secretary-General Antonio Guterres said that without further action, humanity was on course for a global temperature increase of 2.8 degrees Ceslius. Sean Gallup | Getty Images News | Getty Images U.N. Secretary-General Antonio Guterres on Wednesday condemned fossil fuel giants for ignoring their own climate science, accusing the oil and gas industry of seeking

Oil rallied to the highest since mid-November, capping off its second straight week of gains on optimism over increased demand from China. West Texas Intermediate rose to settle above $81 a barrel, posting a 1.8% weekly gain. Bolstering crude this week were forecasts for record consumption in China, a buying spree from the country’s largest

Climate activist Greta Thunberg speaking on the main stage in George Square as part of the Fridays for Future Scotland march during the Cop26 summit in Glasgow. Picture date: Friday November 5, 2021. Jane Barlow | PA Images | Getty Images Swedish climate activist Greta Thunberg on Thursday became the latest vocal critic of the

Oil rebounded on Thursday as investors bet that revived demand from China would outweigh swelling US stockpiles. West Texas Intermediate finished a volatile session up 1.1% to $80.33 a barrel. Prices seesawed throughout the day, falling as much as 1.7% early in the day and later rising as much as 2.1% from Wednesday. The fluctuations

The IEA’s Birol said that prior to Russia’s full-scale invasion of Ukraine on Feb. 24 last year, “Russia was the number one energy exporter to the world.” Natalia Kolesnikova | Afp | Getty Images International Energy Agency (IEA) Executive Director Fatih Birol believes Russia will lose its energy war with the West, saying China and

Oil fell for the first time in almost two weeks as disappointing US economic data ignited fears of a recession and sparked a sell-off across Wall Street.  West Texas Intermediate reversed course after hitting the highest intraday price since early December, falling almost 1%. Demand data out of China boosted oil prices at the start

Qatar’s Foreign Minister Sheikh Mohammed bin Abdulrahman bin Jassim al-Thani speaks during a joint press conference with his French counterpart in Doha on March 28, 2022. Mustafa Abumunes | Afp | Getty Images Qatari Foreign Minister Mohammed bin Abdulrahman Al Thani on Tuesday appeared to correct a controversial statement his fellow minister made over the

Southeast Asian natural gas and clean energy company, Coro Energy, has posted a lower revenues in the fourth quarter 2022, compared to the previous three months. The company’s Italian natural gas assets, produced a total of 1.37 million Scm of natural gas, up on the 1.18 million Scm of natural gas produced in the previous

Oil fell for the first time in eight sessions as traders took stock of the outlook for worldwide demand, with China’s reopening delivering a lift while other parts of the global economy slow. West Texas Intermediate fell below $79 a barrel after rallying more than 8% last week. China ditched Covid-19 curbs in late 2022