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October 22, 2021

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Oil rises above $85 a barrel, Brent set for seventh weekly gain

Reuters
Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. REUTERS/Drone Base Brent still trading near three-year high WTI set for ninth weekly gain U.S. inventories low, gasoline demand high LONDON, Oct 22 (Reuters) – Oil prices stayed......

Biden expects gasoline prices to fall in 2022

Reuters
U.S. President Joe Biden delivers remarks on infrastructure legislation at the Electric City Trolley Museum in Scranton, Pennsylvania, U.S. October 20, 2021. REUTERS/Jonathan Ernst WASHINGTON, Oct 21 (Reuters) – President Joe Biden said on Thursday he expects gasoline prices to fall in 2022 and that any further price reduction depends......

Fuel shortages remain in south east England but improvements elsewhere

Reuters
LONDON, Oct 2 (Reuters) – Gas stations in London and southeast England continue to suffer a lack of fuel although the situation has improved in northern England and Scotland, the Petrol Retailers Association (PRA) said on Saturday. Britain will from Monday deploy military tanker drivers to deliver fuel after a......

Petrofac considers refinancing as faces possible $240 mln bribery fine

Reuters
LONDON, Oct 2 (Reuters) – British oil services group Petrofac (PFC.L) said it is looking at refinancing options including debt and fresh equity as it faces a possible $240 million fine from a London court. Petrofac decided to plead guilty to seven charges after a four-year Serious Fraud Office (SFO)......

Ukraine demands sanctions on Russia’s Gazprom after Kyiv loses gas imports

Reuters
An engineer checks the gas distribution system in Beregdaroc, one of several points where Russian gas crosses into the European Union February 10, 2015. REUTERS/Laszlo Balogh Russia-Hungary deal deprives Kyiv of revenue, gas Kyiv wants sanctions on Gazprom Kremlin says criticism is politicised Says Gazprom is meeting all obligations KYIV/MOSCOW,......

Equity, bond funds see inflows as markets hit rough patch – BOFA

Reuters
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 29, 2021. REUTERS/Brendan McDermid LONDON, Oct 1 (Reuters) – Global equity and bond funds saw modest inflows at the expense of cash and gold funds even as global markets hit a rough......

Asian stocks extend global slide as inflation fears bite

Reuters
A man wearing a protective mask, amid the COVID-19 outbreak, is reflected on an electronic board displaying stock prices outside a brokerage in Tokyo, Japan, September 21, 2021. REUTERS/Kim Kyung-Hoon Asia-Pac stocks fall 1% after decline on Wall St overnight Concerns about inflation-growth outlook send bonds higher Gold in demand,......

Analysis: From chips to ships, shortages are making inflation stick

Reuters
A gas burner is pictured on a cooker in a private home in Bordeaux, soutwestern France, December 13, 2012. REUTERS/Regis Duvignau Analysts still view price pressures as temporary But watching supply, worker shortages closely U.S. seen more at risk from wage-induced inflation LONDON, Sept 30 (Reuters) – Soaring gas prices,......

REUTERS IMPACT China’s Huayou Cobalt seeks lithium as expands battery minerals portfolio

Reuters
Batteries for electric vehicles are manufactured at a factory in Dongguan, China September 20, 2017. REUTERS/Bobby Yip BEIJING, Sept 30 (Reuters) – Zhejiang Huayou Cobalt (603799.SS) is seeking to invest in lithium mining and processing, its executive vice chairman told Reuters, as China’s biggest cobalt refiner strives to expand its......

China power crunch slams factories as coal lobby warns woes could stay until winter

Reuters
SHENYANG, China, Sept 30 (Reuters) – Small firms caught in China’s prolonged energy crunch are turning to diesel generators, or simply shutting shop, as coal industry officials voiced fears about stockpiles ahead of winter and manufacturing shrank in the world’s no. 2 economy. Beijing is scrambling to deliver more coal......

Exxon offers new proposal to locked-out Texas refinery workers

Reuters
A view of the ExxonMobil Baton Rouge Refinery in Baton Rouge, Louisiana, U.S., May 15, 2021. Picture taken May 15, 2021. REUTERS/Kathleen Flynn/File Photo HOUSTON, Sept 29 (Reuters) – Exxon Mobil Corp (XOM.N) on Wednesday offered its first concession in a new contract proposal to locked-out workers at its Beaumont,......

Oil drops for a second day after rally peters out

Reuters
A oil pump is seen at sunset outside Scheibenhard, near Strasbourg, France, October 6, 2017. REUTERS/Christian Hartmann/File Photo LONDON, Sept 29 (Reuters) – Oil prices fell on Wednesday after U.S. crude inventories unexpectedly rose and amid concerns about a slowing Chinese economy. Brent crude was down 46 cents, or 0.6......

Britain puts military on standby as panic buying leaves pumps dry

Reuters
Army tanker drivers to be deployed if needed Trucker shortage has hit supply chains Britain says will extend some HGV licences Industry says hopes situation will stabilise LONDON, Sept 28 (Reuters) – Britain put the army on standby to deliver fuel from Tuesday after an acute shortage of truckers triggered......

Petrobras eyes Brazil price hikes despite political pressure

Reuters
People walk in front of the Brazil’s state-run Petrobras oil company headquarters in Rio de Janeiro, Brazil, October 16, 2019. REUTERS/Sergio Moraes//File Photo Sept 27 (Reuters) – Brazil’s state-run oil company, Petrobras (PETR4.SA), is considering raising fuel prices as the prices of some petroleum derivatives are out of line with......

Oil shares lead charge as crude hits new 3-year highs

Reuters
A man watches an electric board showing Nikkei index outside a brokerage at a business district in Tokyo, Japan, June 21, 2021. REUTERS/Kim Kyung-Hoon Oil climbs on tight supply, strong demand Markets hope Beijing will contain Evergrande fallout U.S. debt ceiling deadline nears, spending bill to get vote Bonds pressured......

Oil gains for fifth day amid supply constraints

Reuters
Oil drills are pictured in the Kern River oil field in Bakersfield, California November 9, 2014. REUTERS/Jonathan Alcorn/File Photo TOKYO, Sept 27 (Reuters) – Oil prices rose for a fifth straight day on Monday with Brent heading for $80 amid supply concerns as parts of the world sees demand pick......

Russia’s Gazprom is ready to boost gas sales to Europe – Ifx cites Kremlin

Reuters
The logo of Gazprom company is seen at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia, June 2, 2021. REUTERS/Evgenia Novozhenina/File Photo MOSCOW, Sept 26 (Reuters) – Russian energy giant Gazprom (GAZP.MM) is ready to increase gas supplies to Europe, Interfax news agency cited a Kremlin spokesman......

EXCLUSIVE Oil producer Hilcorp eyes purchase of shut Louisiana refinery -sources

Reuters
HOUSTON, Sept 24 (Reuters) – Houston-based oil producer Hilcorp (HILCO.UL) is evaluating Phillips 66’s (PSX.N) refinery in Alliance, Louisiana, for conversion into an oil export terminal, said four sources familiar with the matter, a move that would eliminate it as a source of motor fuels. Hilcorp, the largest privately owned......

Britain has 10 days to save Christmas, retail sector says

Reuters
Retail industry warns of significant disruption Queues form at some petrol stations – Reuters reporters Britain to boost HGV driver testing British ministers to meet on easing rules Hauliers: there is no quick fix LONDON, Sept 24 (Reuters) – Britain’s retail industry warned the government on Friday that unless it......

China scrambles to fix power crunch, tame runaway raw material markets

Reuters
BEIJING, Sept 24 (Reuters) – Roiled by widening power curbs that have disrupted industrial operations, Chinese commodity producers and manufacturers may finally be getting some relief. Beijing’s top economic planner, the National Development and Reform Commission, said on Friday it will work to resolve the power shortages that have plagued......

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