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May 23, 2022

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Column: Hedge funds more bullish on crude as sanctions loom

Reuters
LONDON, May 23 (Reuters) – Investors grew significantly more bullish on petroleum prices last week in response to an increasing likelihood that EU sanctions on Russia’s exports that will intensify global oil shortages. Hedge funds and other money managers purchased the equivalent of 56 million barrels in the six most......

Oil climbs in tight market as U.S. driving season looms

Reuters
A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. REUTERS/Richard Carson/File Photo Register now for FREE unlimited access to Reuters.com Register MELBOURNE, May 23 (Reuters) – Oil prices rose......

Asia stocks weighed by inflation concerns, China tech selling

Reuters
A man wearing a protective mask, amid the coronavirus disease (COVID-19) outbreak, walks past an electronic board displaying Shanghai Composite index, Nikkei index and Dow Jones Industrial Average outside a brokerage in Tokyo, Japan, March 7, 2022. REUTERS/Kim Kyung-Hoon Register now for FREE unlimited access to Reuters.com Register HONG KONG,......

Exclusive: India considering spending additional $26 billion to fight inflation

Reuters
Customers buy vegetables at a market in Ahmedabad, India, September 29, 2015. REUTERS/Amit Dave/File Photo Register now for FREE unlimited access to Reuters.com Register NEW DELHI, May 22 (Reuters) – The Indian government is considering spending an additional 2 trillion rupees ($26 billion) in the 2022/23 fiscal year to cushion......

European shares rebound, China rate move helps sentiment

Reuters
LONDON, May 20 (Reuters) – Shares rebounded on Friday after China cut a key lending benchmark to support its economy, though a global equities gauge remained set for its longest weekly losing streak on record amid investor worries about slowing growth and high inflation. China cut its five-year loan prime......

Oil steady on the week as oil supply risks meet economic headwinds

Reuters
Pump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford Register now for FREE unlimited access to Reuters.com Register LONDON, May 20 (Reuters) – Oil prices edged lower on Friday on course for little change on the week as a planned European......

Woodside’s ‘crown jewel’ Scarborough gas lures buyers to fill Russia gap

Reuters
MELBOURNE, May 20 (Reuters) – Woodside Petroleum (WPL.AX) has received strong interest from companies for a stake in the Scarborough natural gas project it is developing off Western Australia in the wake of the Ukraine conflict, Chief Executive Meg O’Neill said on Friday. Woodside is set to become 100% owner......

Iraq bids to control Kurdistan oil revenue with contract switch

Reuters
LONDON, May 19 (Reuters) – Iraq has made a fresh attempt to control revenue from the semi-autonomous region of Kurdistan by asking oil and gas firms operating there to sign new contracts with state-owned marketer SOMO rather than the Kurdistan Regional Government (KRG). Oil minister Ihsan Ismael on May 7......

Oil rebounds from two days of losses in volatile trade

Reuters
Workers walk as oil pumps are seen in the background in the Uzen oil and gas field in the Mangistau Region of Kazakhstan November 13, 2021. REUTERS/Pavel Mikheyev Register now for FREE unlimited access to Reuters.com Register Europe still weighing ban on imports from Russia U.S. dollar backs off recent......

Asian shares tumble as global growth fears mount

Reuters
FILE PHOTO – An investor sits in front of a board showing stock information at a brokerage office in Beijing, China, December 7, 2018. REUTERS/Thomas Peter Register now for FREE unlimited access to Reuters.com Register BEIJING/HONG KONG, May 19 (Reuters) – Asian stocks tracked a steep Wall Street selloff on......

Stock market rebound fizzles, UK inflation hits 40-year high

Reuters
LONDON, May 18 (Reuters) – A rebound in stocks ran out of steam on Wednesday as concerns about the economic growth outlook and rising inflation knocked sentiment, while a UK inflation reading of 9% underlined just how much higher interest rates might be headed. Asian stocks managed to eek out......

Oil prices extend gains on China demand optimism

Reuters
An aerial view shows an oil factory of Idemitsu Kosan Co. in Ichihara, east of Tokyo, Japan November 12, 2021, in this photo taken by Kyodo. Mandatory credit Kyodo/via REUTERS Register now for FREE unlimited access to Reuters.com Register SINGAPORE, May 18 (Reuters) – Oil prices extended gains on Wednesday......

Alberta premier says Canada could boost oil export to U.S., calls for major new pipeline

Reuters
Alberta Premier Jason Kenney addresses delegates at the annual Alberta United Conservative Party (UCP) convention in Calgary, Alberta, Canada November 20, 2021. REUTERS/Todd Korol Register now for FREE unlimited access to Reuters.com Register May 17 (Reuters) – Canada could add over a million barrels per day (bpd) of oil export......

Oil prices inch lower as EU’s Russian oil ban stalls

Reuters
Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian Register now for FREE unlimited access to Reuters.com Register Hungary holds out on signing Russian oil embargo Shanghai achieves COVID-19 milestone Sweden and Finland......

Asia markets rise on hopes of easing China tech crackdown

Reuters
Blank prices are displayed in the stock quotation boards at the Tokyo Stock Exchange (TSE) after the TSE temporarily suspended all trading due to system problems in Tokyo, Japan October 1, 2020. REUTERS/Issei Kato/Files Register now for FREE unlimited access to Reuters.com Register HONG KONG, May 17 (Reuters) – Asian......

Oil prices rise on China demand optimism, gasoline strength

Reuters
An aerial view shows an Idemitsu Kosan Co. oil facility in Ichihara, east of Tokyo, Japan November 12, 2021, in this photo taken by Kyodo. Mandatory credit Kyodo/via REUTERS Register now for FREE unlimited access to Reuters.com Register EU hopeful of Russian oil embargo deal in May, diplomats say China......

Column: China has helped drive up Asian diesel profits; it could lower them, too: Russell

Reuters
Pumpjacks are seen during sunset at the Daqing oil field in Heilongjiang province, China August 22, 2019. REUTERS/Stringer/Files Register now for FREE unlimited access to Reuters.com Register BRISBANE, May 16 (Reuters) – China’s ongoing battles to contain COVID-19 outbreaks and the Western world’s shunning of Russian crude oil and refined......

EU ministers urge Hungary to sign up to planned Russian oil embargo

Reuters
Lithuanian Foreign Minister Gabrielius Landsbergis listens during a news conference in Vilnius, Lithuania March 18, 2022. REUTERS/Janis Laizans/File Photo Register now for FREE unlimited access to Reuters.com Register BRUSSELS, May 16 (Reuters) – EU foreign ministers sought to publicly pressure Hungary on Monday to lift its veto on a proposed......

Asia stocks struggle after dire China data

Reuters
Asian stock markets: China retail sales dive 11.1%, output drops 2.9% Nikkei pares gains, S&P 500 futures turn lower Dollar holds near 20-year highs, yen gets safety bid SYDNEY, May 16 (Reuters) – Asian share markets were struggling to sustain even a minor rally on Monday after shockingly weak data......

Oil jumps 4% as U.S. gasoline prices hit record high

Reuters
Storage tanks are seen at Marathon Petroleum’s Los Angeles Refinery, which processes domestic & imported crude oil into California Air Resources Board (CARB), gasoline, diesel fuel, and other petroleum products, in Carson, California, U.S., March 11, 2022. REUTERS/Bing Guan Register now for FREE unlimited access to Reuters.com Register U.S. gasoline......

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