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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......

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......

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......

Euronav shareholders signal support for Frontline merger

Reuters
May 19 (Reuters) – Belgian oil tanker and storage operator Euronav (EUAV.BR) said on Thursday it had received “a clear signal” from shareholders in support of its proposed $4.2-billion merger with smaller Oslo-listed rival Frontline (FRO.OL). Since the announcement on April 7 of the planned merger, Euronav has clashed with......

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......

Sri Lanka down to last day of petrol, PM tells crisis-hit nation

Reuters
COLOMBO, May 16 (Reuters) – Sri Lanka’s new prime minister said on Monday the crisis-hit nation was down to its last day of petrol, as the country’s power minister told citizens not to join the lengthy fuel queues that have galvanised weeks of anti-government protests. Ranil Wickremesinghe, appointed prime minister......

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......

Beautiful song shows Ukraine’s bravery, NATO deputy says lauding Eurovision win

Reuters
BERLIN, May 15 (Reuters) – Eurovision and NATO might not usually be associated, but on Sunday the military alliance’s deputy chief congratulated Ukraine for winning the annual music contest with a “beautiful song”, calling it a testament to its bravery in fighting Russia. Foreign ministers from the 30-member alliance NATO......

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......

Nine U.S. Gulf Coast refineries exceeded federal benzene levels -study

Reuters
HOUSTON, May 12 (Reuters) – Nine U.S. Gulf Coast refineries exceeded the federal regulatory action level between 2018 and 2020 for pollution from benzene, which causes cancer, according to a study by the Environmental Integrity Project (EIP) released on Thursday. The nine are among 56 U.S. refineries with high benzene......

Gold prices wobble as soaring dollar, sliding yields tussle

Reuters
A customer checks a gold necklace before buying it at a jewellery showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Kolkata, India, May 3, 2022. REUTERS/Rupak De Chowdhuri Register now for FREE unlimited access to Reuters.com Register U.S. CPI rose 0.3% last month Gold down......

Oil slips more than 1%, dogged by recession fears

Reuters
Oil tankers are seen at a terminal of Sinopec Yaogang oil depot in Nantong, Jiangsu province, China June 11, 2019. REUTERS/Stringer Register now for FREE unlimited access to Reuters.com Register Hungary ups stakes in EU oil sanctions talks U.S. crude stocks jump on strategic reserves release – EIA Iraq’s April......

Oil turns higher on looming EU ban on Russian oil

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 Brent, WTI climb more than $1, reversing early losses Even watered down Russian......

Occidental profit tops estimates on oil prices despite lower output

Reuters
The Occidental Petroleum Corp headquarters is pictured in Los Angeles, California September 16, 2013. REUTERS/Mario Anzuoni Register now for FREE unlimited access to Reuters.com Register May 10 (Reuters) – U.S. oil and gas producer Occidental Petroleum Corp (OXY.N) beat Wall Street’s earnings estimates and swung to a profit from a......

U.S. oil settles below $100 a barrel on economic worries, strong dollar

Reuters
A sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. REUTERS/Angus Mordant Register now for FREE unlimited access to Reuters.com Register EU members struggle to reach deal on Russian oil ban Fed’s Mester: 50-basis-point rate......

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