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Energy Down With Oil Futures on Iran Optimism - Energy Roundup
Shares of energy companies slid alongside oil futures amid signs of progress in U.S.-Iranian diplomacy. U.S.-traded oil futures had initially tumbled by more than 10% to around $90 a barrel after reports that Iran was reviewing a peace proposal…
Well-oiled diplomacy: Malaysian king visits Moscow as Anwar eyes Russian energy
Malaysian King Sultan Ibrahim Iskandar arrived in Moscow on Thursday for a high-profile visit that comes as Kuala Lumpur looks for alternative oil sources amid the Iran war-linked fuel crisis. Sultan Ibrahim landed at Vnukovo-2 International…
Traders point to suspicious activity in the oil market on Wednesday
Trading volume in U.S. crude-oil futures suddenly spiked early Wednesday in the hour before a media report sent prices tumbling — the latest in a pattern of suspicious activity in the market for oil futures that has emerged since the start…
Tourmaline Oil Corp. stock falls Wednesday, underperforms market
Shares of Tourmaline Oil Corp. TOU slid 1.62% to C$66.85 Wednesday, in what proved to be an otherwise all-around positive trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE rising 1.24% to 33,981.82. Tourmaline Oil…
Imperial Oil Ltd. stock falls Wednesday, underperforms market
Shares of Imperial Oil Ltd. IMO dropped 3.69% to C$174.22 Wednesday, in what proved to be an otherwise all-around favorable trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE rising 1.24% to 33,981.82. Imperial Oil…
Shell profits rise as Iran war pushes oil prices higher
Profits at oil giant Shell have risen in the first three months of the year following the sharp increase in oil prices since the beginning of the Iran war. Shell reported profits of $6.92bn (£5.1bn) for the first quarter, which was higher…
Even if an Iran deal calms energy markets, one oil stock can still stand out
While the broader market grapples with geopolitical instability, Shell plc (SHEL), along with other large integrated oil companies, have benefited from higher oil prices and should warrant investor attention. Despite the dual blockades by both Iran…
Oil Futures Rise on Likely Technical Recovery
0007 GMT — Oil futures rise in early Asian trade on a likely technical recovery after dropping overnight. The “markets were driven by optimism about an agreement [between the U.S. and Iran] being reached in the coming days to end the…
Shell's 'outrageous' profits as oil giant makes billions amid Iran war chaos
Oil giant Shell has been slammed for raking in 'outrageous' profits of nearly £5.1billion in the first three months of this year on the back of the Iran war. The industry heavyweight was among producers to benefit from a surge in wholesale…
Shell Profits Beat as War Boosts Volatility and Oil Trading
This article is for subscribers only. Morning, I'm Louise Moon from Bloomberg UK's breaking news team, bringing you up to speed on today's top business stories. Shell has joined its rivals in reaping the benefits of elevated oil and gas prices and…
Oil plunges and stocks soar: Markets are swinging as traders eye an Iran peace deal
Markets are getting in position for the Iran war to soon end. A report from Axios early Wednesday said that the US and Iran could are nearing a peace deal. Markets have been eyeing a possible deal for weeks, though progress on a resolution has been…
Shell profits soar amid surging oil prices because of Iran war
Shell has announced a higher-than-forecast surge in profits for the first three months of the year, thanks to rocketing oil prices caused by the Iran war. The oil giant reported underlying earnings of 6.92 billion US dollars (£5.09 billion)…
Africa's Newest Oil Refinery Fires Up to Supply Fuel for Angola
Angola's Cabinda oil refinery, among the first to be built in Africa in decades, has started shipping fuel, helping the crude producer bolster domestic supply and reduce reliance on imports. The plant, built at a cost of more than $470 million, is…
It's not just Big Oil. Wind giants welcome profit beats as Iran war spurs energy pivot
Wind power giants Vestas and Orsted surpassed estimates in the first quarter, with the latter citing the Iran war as a key reason to push ahead with clean tech investment. Norway's Equinor, which is primarily an oil and gas major, also posted…
Earnings Beats Offer India Markets a Silver Lining Amid Oil Shock
This article is for subscribers only. I'm Savio Shetty in Mumbai, and here's what you need to know before Thursday's trading begins. Asia's stock benchmark has climbed to another record as optimism grows that the US and Iran are nearing a deal to…
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