Meanwhile, the greenback climbed to a three-month peak, while the US 10-year Treasury yield held close to a more than one-year high, increasing the opportunity cost of holding gold, which pays no interest. “We have an economy that is recovering and inflation is materializing; that ultimately means that yields have room to move higher,” Bart...Continue Reading

Texas Will Not Reverse $16 Billion Power Overcharges During Freeze | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Mar 08, 2021, 11:30 AM CST The Public Utility Commission of Texas has rejected a proposal to retroactively reverse the market pricing for electricity that resulted in...Continue Reading

World’s Top Oil Trader: OPEC+ Controls The Market | OilPrice.com Tsvetana Paraskova Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.  More Info Premium Content By Tsvetana Paraskova – Mar 08, 2021, 11:00 AM CST The unexpected OPEC+ move from last week and...Continue Reading

Oil Falls After Spiking Due To Missile Attack On Saudi Tank Farm | OilPrice.com Irina Slav Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry. More Info Premium Content By Irina Slav – Mar 08, 2021, 10:00 AM CST Oil prices fell on Monday, hours...Continue Reading

Aramco’s Dividend Safe With Latest Oil Price Rally | OilPrice.com Irina Slav Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry. More Info Related News By Irina Slav – Mar 08, 2021, 9:30 AM CST The oil price rally will ensure Aramco is able to...Continue Reading

Gas Imports Surge As China Sees Coldest Winter In Decades | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Premium Content By Charles Kennedy – Mar 08, 2021, 9:00 AM CST Natural gas imports to China jumped by 17.4 percent on the year in the first two months of the year to...Continue Reading

Futures in London earlier surged above $71 a barrel, the highest since January 2020, before retreating to trade little changed. The assault on a storage tank farm at Ras Tanura on Sunday was intercepted, Saudi Arabia said, and oil output appeared to be unaffected. SourceContinue Reading

Yemen’s Houthi rebels have stepped up assaults on Saudi Arabia and last week claimed they hit a Saudi Aramco fuel depot in Jeddah with a cruise missile. It wasn’t clear how much damage had been caused. While such assaults rarely result in extensive damage, their frequency has created unease in the Gulf. SourceContinue Reading

The world’s biggest crude exporter is boosting April pricing for crude exports eastwards to the highest levels since just before the Saudis unleashed a brief price and supply war a year ago. SourceContinue Reading

Saudi Arabia said a storage tank at Ras Tanura in the country’s Gulf coast was attacked on Sunday by a drone from the sea. The terminal is capable of exporting roughly 6.5 million barrels a day — nearly 7% of oil demand — and as such one of the world’s most protected installations. SourceContinue Reading