Bulls on the Backfoot as Supply Risks Mount | OilPrice.com Premium Content By Editorial Dept – May 16, 2025, 12:00 PM CDT Crude oil futures reversed sharply lower by Thursday after beginning the week with a strong rally fueled by optimism over a temporary easing in U.S.-China trade tensions. Prices initially surged more than 4%...Continue Reading

Occidental has entered into an agreement with ADNOC’s XRG to evaluate a potential joint venture to develop a Direct Air Capture (DAC) facility in South Texas. As part of the joint venture, XRG will consider investing up to $500 million. SourceContinue Reading

Fresh EU Sanctions on Russia Could Include Lower Oil Price Cap | OilPrice.com Michael Kern Michael Kern is a newswriter and editor at Safehaven.com and Oilprice.com,  More Info Premium Content By Michael Kern – May 16, 2025, 11:00 AM CDT The EU is preparing its 18th sanctions package against Russia, aiming to increase pressure on...Continue Reading

Egypt Turns to Oil for Power Generation Due to High Gas Prices | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – May 16, 2025, 10:30 AM CDT Egypt is seeking to buy more fuel oil on which to run some of its power plants as natural...Continue Reading

Brent Nears $65 on Renewed Trade Optimism | OilPrice.com Tom Kool Tom majored in International Business at Amsterdam’s Higher School of Economics, he is Oilprice.com’s Head of Operations More Info Premium Content By Tom Kool – May 16, 2025, 10:00 AM CDT oil is riding high on the euphoria of not having debilitating tariffs on...Continue Reading

U.S.-Canada Trade Strains Alter Trans Mountain Oil Flows | OilPrice.com Michael Kern Michael Kern is a newswriter and editor at Safehaven.com and Oilprice.com,  More Info Related News By Michael Kern – May 16, 2025, 9:30 AM CDT Crude flows from the expanded Trans Mountain pipeline have materially shifted since the relations between the United States...Continue Reading

Iran Proposes Regional Nuclear Consortium to Ease Tensions | OilPrice.com RFE/RL staff RFE/RL journalists report the news in 21 countries where a free press is banned by the government or not fully established. We provide what many… More Info Premium Content By RFE/RL staff – May 16, 2025, 9:00 AM CDT Iran has proposed a...Continue Reading

U.S. Warns Hong Kong Banks Over Iran Oil Sales | 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 Related News By Tsvetana Paraskova – May 16, 2025, 8:24 AM CDT The United States is looking to close...Continue Reading

The United States overtook the United Arab Emirates (UAE) to become India’s fourth-largest crude oil supplier in April, after the Asian country boosted purchases from America to position itself for a better trade deal.  India’s imports of crude oil from the United States jumped to 330,000 barrels per day (bpd) in April, up from 240,000...Continue Reading

National Grid Reports Significant Profit Increase | OilPrice.com City A.M CityAM.com is the online presence of City A.M., London’s first free daily business newspaper. Both platforms cover financial and business news as well as sport and… More Info Related News By City A.M – May 16, 2025, 6:31 AM CDT National Grid’s annual profits rose by...Continue Reading