The culprit behind the latest jump in oil prices isn’t soaring natural gas prices or even OPEC+’s limits on output but rather what is happening at America’s largest oil storage hub in Oklahoma. Traders are fretting that stockpiles in Cushing will fall as low as they physically can. It has sent gauges of market health …
OSLO, Oct 25 (Reuters) – Spanish energy firm Repsol (REP.MC) started oil production at Norway’s Yme field on Monday, the company said in a statement, applying new technology to bring the North Sea petroleum reservoir back on stream 20 years after it was first abandoned. Norway’s Equinor (EQNR.OL) closed Yme in 2001 after only six …
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SPX reached a new record high on Thursday, October 21, closing at 4,549.78, which puts the trajectory of the index into the upper half of the latest redzone forecast range. The market is experiencing greater-than-typical levels of volatility. The market-moving headlines of the week point to several contributing factors for what new information has …
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Polish Oil and Gas Company (PGNiG) doesn’t expect it would be “forced” to buy gas from Russia after its supply deal with Gazprom expires at the end of next year, PGNiG’s chief executive officer Pawel Majewski told Reuters in an interview published on Friday. Poland has been trying for years to shake off its dependence …
There should be no interest rate hikes at this time, United States Federal Reserve Chair Jerome Powell noted on Friday. At the moment, most economic risks are related to “longer” and “more persistent” supply bottlenecks, that result in high inflation, he said during the BIS-SARB Centenary Conference Panel discussion. He specified that the interest rates …
The U.K’s natural gas production is soon expected to increase, as two new projects come online. Two new projects in the North Sea have recently started to flow gas, according to Bloomberg, and the extra capacity couldn’t come at a better time. The first of the two, Shell’s Arran gas and condensate field in the …
Russia could immediately increase natural gas deliveries to Europe as soon as German authorities approve the Nord Stream 2 pipeline, the Financial Times reports, citing President Vladimir Putin as saying gas can be delivered “the day after tomorrow” if approval is granted “tomorrow”. Putin said Russia could deliver an additional 17.5 billion cu m of …
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British Health Secretary Sajid Javid warned on Wednesday that the number of daily registered COVID-19 cases across the United Kingdom could soon hit as much as 100,000. However, Javid told reporters that the government “won’t be implementing its plan B of contingency measures at this point, but will be staying vigilant, preparing for all eventualities.” …
Investing.com – Crude markets settled with their biggest loss in two weeks on Thursday after Russian President Vladimir Putin said the OPEC+ cartel which includes Moscow might put out more barrels than it has announced. Oil prices were also down as China, India and other consumers fought back against high energy prices which they said …
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Shares of Digital World Acquisition Corp (DWAC), the special purpose acquisition company which will merge with former President Trump’s social media company soared more than 270% on Thursday. Trading was briefly halted for volatility as retail investors piled on the stock. Digital World Acquisition is one of the top trending tickers on Yahoo Finance. It’s …
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