Oil & Gas

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

A new study of Exxon Mobil Corp.’s own climate projections offers fresh evidence that the oil giant’s models accurately forecast global warming even as it publicly sowed doubt about the climate crisis. A review of climate projections made by Exxon for the years 1977 through 2003 found that the company anticipated warming of roughly 0.20°C

European countries have been scrambling to find alternative sources of oil and gas following Russia’s full-scale invasion of Ukraine in Feb. 2021. Bloomberg | Bloomberg | Getty Images Russia’s revenue from fossil fuel exports collapsed in December, according to a new report, significantly hampering President Vladimir Putin‘s ability to finance the war in Ukraine. The

TotalEnergies SE and Swiss energy trader MET Group booked capacity at a new LNG terminal in Germany, helping boost supplies to Europe’s biggest economy as it looks to replace Russian gas. TotalEnergies contracted 2.6 billion cubic meters per year in the terminal at Lubmin, it said in a statement. The French company, which has provided

The Group of Seven’s oil price cap scheme intended to limit Russian oil export revenues is working “so far so good,” according to Amos Hochstein, special presidential coordinator to President Joe Biden. “As oil prices have come down, there’s no doubt that the price cap has, so far, and there’s a long way to go,

Strohm is reaping the rewards of its unique ‘Jumper on Demand’ program as it nets a second contract with ExxonMobil. Under the new deal, Strohm will supply more than 24 of its jumpers for the Uaru field development situated offshore Guyana, in the Americas. This latest award, which is subject to government approval of the project