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The Iran war will change global energy markets in these important ways, oil executives say
Governments will prioritize energy security, aiming to diversify their supplies, leading oil executives said. Investments in oil exploration and production will increase, they said. Offshore opportunities will benefit, the oil CEOs noted. Low…
'We are talking about energy security for Europe': Norway doubles down on oil and gas production
In case of any doubt about Norway's commitment to maintain – and expand – its production of gas and oil offshore, the energy minister, Terje Aasland, has a pithy response: “We will develop, not dismantle, activity on our…
The Iran war has broken the oil market's $100 barometer
Global oil prices have been stuck near $100 a barrel — much lower than some expected, given what the International Energy Agency has called the “largest supply disruption in the history of the global oil market.” Wall Street…
Iran War Is Draining World's Oil Buffer at Unprecedented Pace
The world has burned through oil inventories at a record speed as the Iran war throttles flows from the Persian Gulf, eating into the very buffer that protects against supply shocks. The rapidly shrinking stockpiles mean that the risk of even more…
South Korea draws Gulf oil storage interest as Hormuz stays closed
South Korea is drawing growing interest from Middle Eastern oil producers seeking to store crude oil at the country's petroleum reserve bases, the world's sixth largest, amid a prolonged blockade of the Strait of Hormuz, a South Korean official and…
Introducing the 'NACHO' trade: How Wall Street is betting on higher oil prices and persistent inflation
Wall Street is glomming on to yet another acronym inspired in part by Mexican cuisine. Roughly one year after the acronym “TACO” — which stands for “Trump always chickens out” — went from being a viral joke…
US Waits on Iran Reply, Oil Buffer Burning at Record Pace, More
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Ceasefire appears to hold after US strikes two Iranian oil tankers
DUBAI, United Arab Emirates — A tenuous ceasefire appeared to be holding Saturday after the United States struck two Iranian oil tankers, while the country that hosts the U.S. Navy's regional headquarters said it arrested dozens of people it…
'A year of resistance': Cuba's private sector faces Trump's oil blockade
Havana, Cuba – On a Friday last month, every table outside Oishi's food booth in Pabellon Cuba, an exhibition venue in the heart of Havana, was packed with customers eating burgers and pizzas. While the stand looked like an oasis of plenty…
US stocks rise to records after a solid jobs report overshadows higher oil prices
NEW YORK (AP) — The U.S. stock market rose to records Friday following the latest sign that the nation's job market is doing better than economists expected. The S&P 500 climbed 0.8% to an all-time high after a report said U.S. employers…
Nymex Overview: Oil Higher Despite U.S.-Iran Flare-Up, Set for Sharp Weekly Drop -- OPIS
June Nymex West Texas Intermediate crude futures were up 90cts to $95.70/bbl on Friday, and July WTI was about $1 higher to $92.10/bbl. London-based July ICE Brent was $1.70 higher to $101.80/bbl, and August Brent rose $1.45 to $97.85/bbl. For the…
Traders Puzzled As Physical Oil Prices Tumble Amid Surging Chinese Crude Sales, Plunging Imports
Yesterday when discussing China's unexpected flip-flopping on its decision to order local banks to ignore the latest US sanctions on Chinese, followed days later by a demand that they pause loans to sanctions refiners, we highlighted something…
South Bow says demand strong for oil shipments to U.S. Gulf Coast
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Shell's CEO Says the Oil Market Is Short 1 Billion Barrels and Getting Worse. Here's What Investors Should Do Now.
The war with Iran has created a massive disruption to global oil supplies. Persian Gulf oil production has tumbled 57% from its pre-war level due to the closure of the Strait of Hormuz. This supply disruption has really added up. According to Shell…
Pipeline company Enbridge unfazed by rival oil shipping projects
An executive with Enbridge Inc. says the company is unfazed by rival oil pipeline expansions likely to jockey for oilsands producers' business. If anything, the stepped-up competition is a good sign, said Colin Gruending, who leads Enbridge's…
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