Three major Greek shipping firms have halted transport of Russian crude in recent weeks due to the heightened risk of facing U.S. sanctions, Reuters has reported. Greek shippers Minerva Marine, TMS Tankers and Thenamaris have stopped carrying Russian oil to customers in the Middle East, Asia, Turkey, Africa and South America, although traders have reported …
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OPEC+ has delayed its ministerial meeting to set output policy to Nov. 30 from Nov. 26 as previously scheduled, OPEC said in a statement on Wednesday. The group was supposed to hold the Joint Ministerial Monitoring Committee and OPEC and non-OPEC ministerial meetings on November 25 and 26. Prices of oil futures continued …
Continue reading “OPEC+ moves meeting back to November 30… A 4 Day Delay To Get Even BIGGER Cuts”
Israeli President Isaac Herzog in a statement commented on the hostage release deal Israel reached with Hamas, describing it as “painful and difficult.” Herzog acknowledged the existing challenges of the agreement, but deemed Prime Minister Benjamin Netanyahu’s decision to approve the deal as a significant step toward returning all abductees home. He emphasized the moral …
The Iran-aligned Houthi rebels of Yemen have seized a cargo ship linked to an Israeli company in the Red Sea in the latest flare-up in the Middle East that could roil the oil market ahead of the OPEC+ meeting next weekend. Houthi spokesperson Yahya Saree said in a statement that the rebels “carried out a …
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Speculative funds have continued to move towards the short side of crude oil markets, analysts at Standard Chartered noted in a new report sent to Rigzone this week. “Money-manager shorts across the four main Brent and WTI contracts rose week on week by 31.7 million barrels to 209.5 million barrels in the latest positioning data, …
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“You should not underestimate the level of anger there is and the pressure leaders in the Gulf feel from their populations to be seen to respond in some manner,” Two days ago, JPMorgan’s head of energy strategy Christyan Malek warned that amid the recent plunge in oil prices, driven as much by shorting CTAs …
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Iran could “test the waters as to how far they could provoke the US“, an expert has warned, while also tearing apart Joe Biden for “sending a message of weakness” as tensions between Tehran and the US skyrocket. Since the on Israel that killed 1,200 people on October 7, Iran’s support for Hamas has come …
Last weekend, the Saudi government reiterated its commitment to voluntary crude output cuts of 1 million barrels a day, saying that they would continue until at least the end of the year. Goldman Sachs expects OPEC to not let oil prices slide too much below $80 per barrel next year and use its pricing power …
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Crude prices declined further on Thursday touching their lowest value in three months as concerns about the oil demand appeared to grow after the latest data showed that industrial production in the United States slowed more than expected in October. The Energy Information Administration previously revealed an oil inventory build-up in the United States, with …
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Yemen’s Houthi rebel group said on Tuesday evening that its forces launched a barrage of ballistic missiles toward the Israeli southern city of Eilat. “The operations of the Yemeni armed forces against the ‘Israeli’ enemy will not stop until the ‘Israeli’ aggression on our brothers in Gaza ceases,” the group stressed in a post on …
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