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April 17, 2021

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Asian shares defensive, dollar struggles near one-month lows

Reuters
SYDNEY (Reuters) – Asian shares were on the backfoot on Thursday following mixed cues from Wall Street where a sharp sell-off in the largest bitcoin exchange Coinbase hit tech shares while the dollar index struggled near one-month lows. FILE PHOTO: Pedestrians and a traffic light stop sign are reflected on......

OPEC raises 2021 oil demand growth forecast on hope pandemic wanes

Reuters
LONDON (Reuters) -OPEC on Tuesday raised its forecast for growth in world oil demand this year on expectations the pandemic will subside, providing help for the group and its allies in their efforts to support the market. FILE PHOTO: A 3D-printed oil pump jack is seen in front of displayed......

The pros and cons of low oil prices

CBS News
CBS News – For more and to sign up click here The pros and cons of low oil prices – CBS News Watch CBSN Live Crude oil closed higher Thursday, but is still far below the $100 a barrel price it peaked at 18 months ago. That means a lot......

Brazil’s Petrobras, government agree on rules for potential Sepia, Atapu sale

Reuters
FILE PHOTO: The Petrobras logo is seen in front of the company’s headquarters in Sao Paulo April 23, 2015. REUTERS/Paulo Whitaker/File Photo RIO DE JANEIRO (Reuters) – The board of Brazilian state-run oil company Petrobras has approved an agreement with the government regarding the compensation that must be paid to......

Oil prices slip after OPEC+ agree to ease output cuts

Reuters
SINGAPORE (Reuters) – Oil prices edged down in early Asian trade on Monday after OPEC+ agreed last week to gradually ease some of its production cuts between May and July. FILE PHOTO: A 3D printed oil pump jack is seen in front of displayed stock graph and Opec logo in......

Suez canal ends shipping backlog: statement

Reuters
CAIRO (Reuters) – Suez Canal Authority (SCA) said that all 422 ships stranded by the grounding of the giant container ship Ever Given passed through the canal by Saturday, ending the backlog caused by the blockage. Reporting by Moamen Said Atallah; writing by Mahmoud Mourad; editing by John Stonestreet Source......

Iran rejects ‘step-by-step’ lifting of sanctions – Press TV

Reuters
FILE PHOTO: The Iranian flag waves in front of the International Atomic Energy Agency (IAEA) headquarters, before the beginning of a board of governors meeting, amid the coronavirus disease (COVID-19) outbreak in Vienna, Austria, March 1, 2021. REUTERS/Lisi Niesner (Reuters) – Iran’s government wants the United States to lift all......

Suez Canal shipping backlog to end on Saturday – canal authority

Reuters
CAIRO (Reuters) – The last ships stranded by the grounding of a giant container vessel in the Suez Canal should pass through the waterway on Saturday, according to the canal authority, which said an investigation into the incident would report its findings soon. Osama Rabie, chairman of the Suez Canal......

Suez Canal shipping backlog to end on Saturday – canal authority

Reuters
CAIRO (Reuters) – The last ships stranded by the grounding of a giant container vessel in the Suez Canal should pass through the waterway on Saturday, according to the canal authority, which said an investigation into the incident would report its findings soon. Osama Rabie, chairman of the Suez Canal......

Suez Canal says close to clearing backlog after ship dislodged

Reuters
A container ship sails at the Suez Canal, in Ismailia, Egypt March 31, 2021. Suez Canal Authority/Handout via REUTERS CAIRO (Reuters) – The Suez Canal said on Friday it was close to clearing a backlog of shipping that built up when a giant container ship was grounded in the waterway.......

Power play – India wields oil ‘weapon’ to cut dependence on Saudi

Reuters
NEW DELHI (Reuters) – When India’s government last month asked refiners to speed up diversification and reduce dependence on the Middle East – days after OPEC+ said it would maintain production cuts – it sent a message about its clout and foreshadowed changes to the world’s energy maps. FILE PHOTO:......

Exxon Mobil signals better first-quarter earnings as oil prices climb

Reuters
FILE PHOTO: An Exxon sign is seen at a gas station in the Chicago suburb of Norridge, Illinois, U.S., October 27, 2016. REUTERS/Jim Young/File Photo (Reuters) – Exxon Mobil Corp expects rising first-quarter results across its three major businesses, with an at least $2 billion improvement from prices for oil......

Big tech lifts equities as Biden rebuilding plan in focus

Reuters
By Herbert Lash, Tom Arnold NEW YORK/LONDON (Reuters) – The dollar hit a one-year high versus the yen and technology stocks led Wall Street and a key gauge of global equities higher on Wednesday, ahead of an announcement by President Joe Biden of a multitrillion-dollar plan to rebuild America’s infrastructure.......

Saudi Aramco private investment plan voluntary, not state imposed, says CEO

Reuters
LONDON, March 31 (Reuters) – Saudi Aramco said on Wednesday the government had no plans to impose private partnerships on the oil giant, after it launched a programme to support private investment in the kingdom as part of Saudi Arabia’s diversification push. “This is a voluntary programme. It’s on the......

Asian stocks poised for first monthly loss since Oct on bond rout

Reuters
SYDNEY (Reuters) – Asian stocks were on track for their first monthly loss since last October though markets were up on Wednesday and the U.S. dollar stood tall as investors focused on growing signs of a sure-footed global economic recovery. FILE PHOTO: Pedestrians wearing facial masks, following the coronavirus disease......

Shipping restarts at Suez Canal after ship refloated- sources, agency

Reuters
ISMAILIA, Egypt March 29 (Reuters) – Shipping is on the move again in the Suez Canal after a container ship that had blocked the waterway for nearly a week was refloated, two marine sources and a shipping agency said on Monday. A marine source said ships were travelling southwards towards......

Ship swings back across Suez Canal before next tugging attempt, witness and source say

Reuters
A view shows the container ship Ever Given, one of the world’s largest container ships, after it was partially refloated, in Suez Canal, Egypt March 29, 2021. Suez Canal Authority/Handout via REUTERS SUEZ, Egypt (Reuters) – A giant container ship that was jammed across the Suez Canal and has been......

RPT-Large fire at Indonesia’s Balongan oil refinery in West Java – media

Reuters
(Repeats to more subscribers) March 29 (Reuters) – A large fire has broken out at the Balongan oil refinery operated by Indonesia’s state owned oil and gas company, PT Pertamina, media reports said on Monday. The fire started just after midnight on Sunday evening, news portal Detik.com reported. Unverified videos......

China’s Sinopec raises 2021 capital expenditure by 23.8%

Reuters
BEIJING (Reuters) – China Petroleum & Chemical Corp, better known as Sinopec, plans a 23.8% increase in capital spending to 167.2 billion yuan in 2021 following recovery of oil prices and energy demand as the COVID-19 epidemic subsided. Sinopec expects to spend 66.8 billion yuan on upstream exploration focusing on......

Equities, oil prices surge as Suez Canal shutdown continues

Reuters
NEW YORK (Reuters) – Global equity benchmarks and oil prices jumped on Friday while safe havens such as the dollar and U.S. Treasuries dipped as hopes for a global economic recovery overshadowed the continued blockage of one of the world’s most vital shipping lanes. FILE PHOTO: People are seen outside......

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