Russian energy giant PJSC Gazprom spokesman Sergey Kupriyanov revealed on Friday that around 800 million cubic meters of natural gas were inside the three lines of gas pipelines at the time of the leaks in the Baltic Sea. The volumes correspond to Denmark’s consumption for three months. EU diplomat believes sabotage probably caused leaks Danish …
Continue reading “Gazprom estimates volumes of LNG at time of gas leak”
Oil prices are on track to notch their fourth monthly loss in a row, leading to speculation that major oil producers next week will make a fresh move to set a floor under prices — cutting production for a second consecutive month. The Organization of the Petroleum Exporting Countries and their allies, together known as …
It’s been a rough couple of weeks in the energy market. Pretty near every negative sentiment-Recession, Fed tightening, Dollar strength, China demand, Inventory builds, or what amounts to the entire oil price Closet of Anxieties, came to pass this week. Oil-WTI took a tumble below $80 for the first time since Jan 11th of this …
NEW YORK/LONDON (Reuters) – The scale and speed of the sell-off in British assets has jolted world markets, raising concern about contagion as chaos in a major developed economy adds to unease already generated by sharp interest rate rises from the United States and elsewhere. Following Friday’s UK mini-budget, which flagged 45 billion pounds’ ($48 …
Continue reading “Britain’s market rout stokes contagion fears around the globe”
Fed’s Daly: do not want to tip economy into downturn (Reuters) -San Francisco Federal Reserve Bank President Mary Daly said on Tuesday that the U.S. central bank is “resolute” about bringing down high inflation but also wants to do so “as gently as possible” so as not to drive the economy into a downturn. It …
Continue reading “Fed to ‘carefully’ navigate high inflation – Daly”
China’s megacity of 21-million residents is set to exit lockdown. Millions of people in the Chinese megacity of Chengdu emerged Monday from a Covid-19 lockdown that had closed schools, disrupted businesses and forced residents to stay home for over two weeks. With a population of 21 million, southwest China’s Chengdu is the largest Chinese …
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Warning boring video The American Petroleum Institute (API) reported a build this week for crude oil of 4.150 million barrels, while analysts predicted a build of 333,000 barrels. According to API data, U.S. crude inventories have now gained 23 million barrels so far this year—a build made possible only by releasing 166 million barrels from the nation’s Strategic …
Continue reading “Gasoline Draw Strategic releases increase oil inventories”
Danish and Swedish authorities are investigating unexplained leaks of gas in the sea from both Nord Stream 1 and Nord Stream 2 pipelines from Russia to Germany—leaks that Germany suspects could be the result of sabotage, while Russia says sabotage cannot be ruled out right now. Both Nord Stream 1 and 2 are currently …
Continue reading “Sabotage Suspected At Russia’s Nord Stream Gas Pipelines”
Crude oil prices slipped to a nine-month low on Monday, as geopolitical uncertainties seemingly disrupt the supply of the commodity to the global markets. The prices of crude have dropped to their fresh lows since January of this year. West Texas Intermediate (WTI) for settlements in November dropped by 2.10% at 12:35 pm ET to …
When the chief executive of Aramco said earlier this week that years of underinvestment had damaged the balance between supply and demand in the oil market, it should have been a wake-up call to those in decision-making positions. Instead, the secretary-general of the UN bashed the oil industry once again for “feasting” on record-high profits …