Spot freight rates for liquefied natural gas tankers in the Asia-Pacific have surged to record highs as a steady flow of U.S. cargoes to the region boosts demand for ships. SourceContinue Reading
Oil edged up after the Energy Information Administration said the impact of a potential release from U.S. emergency crude reserves would only be short-lived. SourceContinue Reading
President Joe Biden has been weighing the merits of releasing oil from the Strategic Petroleum Reserve to try to quell gasoline prices. A release by China was raised by the U.S. during this week’s virtual summit with President Xi Jinping, the South China Morning Post reported, citing an unidentified person. SourceContinue Reading
Global oil prices may rise to as high as $120 by the middle of next year as the ability of OPEC+ to meet demand is at risk from under-investments and sanctions, according to a Rosneft PJSC executive. SourceContinue Reading
The Biden administration is selling drilling rights across the Gulf of Mexico on Wednesday in an auction that will test the oil industry’s appetite amid White House efforts to shift away from fossil fuels. SourceContinue Reading
The United Arab Emirates will accelerate $20 billion of natural-gas projects by awarding contracts for some of them in the coming days, as it seeks to boost exports of the fuel. SourceContinue Reading
Oil tumbled to the lowest in nearly six weeks as investors considered the prospect of a release of crude supplies from strategic reserves. SourceContinue Reading
Oil companies spent $191.7 million buying drilling rights in the Gulf of Mexico on Wednesday, during a robust government auction that underscored the industry’s appetite for new crude as the White House seeks to shift the U.S. away from fossil fuels. SourceContinue Reading
President Joe Biden urged the Federal Trade Commission to probe possible illegal conduct in U.S. gasoline markets, though any inquiry by the agency is unlikely to have an immediate impact on pump prices paid by consumers. SourceContinue Reading
