Oil fell over 9% in first two days of year, most since 1991 Colonial shuts down Line 3 for unplanned maintenance API figures shows U.S. crude, gasoline stocks rise – sources Coming up: EIA supply report, 1530 GMT LONDON, Jan 5 (Reuters) – Oil rebounded on Thursday after posting the biggest two-day loss for the …
Continue reading “Oil rebounds after biggest drop in decades at start of year”
NEW YORK, Jan 4 (Reuters) – Oil fell nearly 5% on Wednesday after slumping in the previous session, weighed down by demand concerns stemming from the state of the global economy and rising COVID cases in China. Brent futures fell $3.75 to $78.35 a barrel for a 4.6% loss by 1:02 a.m. EST (1802 GMT). …
Continue reading “Oil prices fall nearly 5% on worry over global economy”
LONDON, Jan 3 (Reuters) – Oil prices edged lower in volatile trade on Tuesday as weak demand data from China, a gloomy economic outlook and a stronger U.S. dollar weighed. Brent crude futures fell $1.07, or 1.25%, to $84.84 a barrel by 1447 GMT. U.S. West Texas Intermediate crude was down $1.15, or 1.43%, at …
Continue reading “Oil falls as outlook for China, global economy weigh”
Hong Kong CNN — After a tumultuous end to a momentous and challenging year, China heads into 2023 with a great deal of uncertainty – and potentially a glimpse of light at the end of the pandemic tunnel. The chaos unleashed by leader Xi Jinping’s abrupt and ill-prepared exit from zero-Covid is spilling over into …
For much of the global economy, 2023 is going to be a tough year as the main engines of global growth – the United States, Europe and China – all experience weakening activity, the head of the International Monetary Fund said on Sunday.The new year is going to be “tougher than the year we leave …
Continue reading “Global economy faces tougher year in 2023, IMF’s Georgieva warns”
The Keystone pipeline that was shut down earlier this month after a spill has returned to operation TC Energy, its operator, said. TC Energy shut down the pipeline, which is a vital conduit for Canadian oil to the United States, after a leak was reported in Nebraska, into a creek. It took several days to …
Continue reading “Keystone Pipeline Restarts……. More and more an more oil coming to market”
More than half of passengers arriving at Milan’s Malpensa Airport from China in recent days have tested positive China is facing an international backlash amid reports of an unchecked surge in COVID-19 cases in the country, as well as criticism over the government’s decision to stop providing daily COVID data. A growing number of …
Continue reading “CDC calls out China for ‘lack of adequate and transparent’ COVID data”
After two weeks of silence in detailing how it would react to the G7 oil price cap, overnight the Kremlin raised the stakes for the west when state-run Tass news service quoted Deputy Prime Minister Alexander Novak as saying that Russia may reduce output by 500,000 to 700,000 barrels a day in response to the cap. While not …
NB: this story is full of blatant inaccuracies and critical information left out. My bulllsit alarm bells were sounding. So i will point out the BullShit by putting my notes in red proceeded by: BS HOUSTON, Dec 21 (Reuters) – Oil prices rose by more than $2 on Wednesday after data showed a larger-than-expected draw …
After unexpectedly rising 7.8 million barrels last week, ending a four-week streak of drawdowns, crude oil inventories this week went back to draws, with the American Petroleum Institute (API) reporting inventories down by 3.069 million barrels. Analysts anticipated a 0.167 million barrel draw. Meanwhile, crude stored in the nation’s Strategic Petroleum Reserves sunk by 211 …
Continue reading “Oil prices jump after a small drop in US inventories”