World News

By Tsvetana Paraskova Analysts continue to focus on the surging oil production in the Permian and looming takeaway capacity bottlenecks that could slow down the oil growth in the biggest U.S. shale play. But constraints have also emerged in natural gas takeaway infrastructure, with pipelines nearly full and natural gas prices in West Texas diving on oversupply. Pipelines will not ...

By Tom Kool Oil prices fell on Tuesday morning as oil traders continue to voice concern about the plans of OPEC to increase oil production. (Click to enlarge) Chart of the Week (Click to enlarge) – Fossil fuel consumption for electricity generation in the U.S. declined to 22.5 quadrillion BTUs in 2017, the lowest level since 1994. – The decline ...

The exports were higher than the country’s average while there were rising fears of re-imposition of US sanctions on Tehran following Washington’s pullout out of the Joint Comprehensive Plan of Action (JCPOA), a deal Tehran struck with the P5+1 group of countries back in 2015 to curb its nuclear activities in exchange for easing of sanctions on its vital commercial ...

Senior executive from Italy’s energy major Saipem voiced the company’s willingness to join Iran’s petrochemical projects in a meeting with the CEO of the National Petrochemical Company (NPC) in Milan. Meeting with the CEO of Iran’s National Petrochemical Company (NPC) on the sidelines of Milan’s PLAST 2018, Saipem officials said they were interested in cooperating with Iranian petrochemical companies against ...

By Alex Kimani “Everything should be made as simple as possible, but not simpler.”–Albert Einstein When trying to predict gold prices, investors usually look at one or several drivers: interest rates, U.S. dollar fluctuations, above-ground gold stocks, equities, bonds, commodity prices and even debt levels. But on their own, how reliable is each for predicting either short-or-long-term medium gold price ...

By Irina Slav Crude oil prices moved higher today after the Energy Information Administration reporteda draw in crude oil inventories of 4.2 million barrels for the week to May 25, a day after the API pressured benchmarks by estimating an unexpected inventory increase of 1 million barrels for the period. Analysts had expected a build of 920,000 barrels for last ...

By Zerohedge With the national average gas price continuing its trudge toward $3 a barrel, pushed by rising crude oil prices, GasBuddy is reporting that more Americans are planning stay-cations instead of traveling this summer as worries about rising gas prices intensify. According to the annual survey, only 58 percent of respondents said they would take a trip this summer, ...

* U.S. crude, gasoline inventories rise unexpectedly -EIA * OPEC, non-OPEC may ease cuts ‘softly’ – Novak * OPEC set to meet next month to discuss policy (Adds Novak comment, updates prices) LONDON, May 24 (Reuters) – Oil prices recorded their largest one-day drop in two weeks on Thursday, with expectations building that OPEC could wind down an output deal ...

By Tsvetana Paraskova In the days of the U.S. withdrawal from the Iran nuclear deal, Iran’s European customers continue to buy Iranian oil and are in no immediate rush to replace volumes, but some refiners and traders have flagged financing issues as having the potential stop to crude trade with Iran. After the U.S. walked out of the Iran deal, ...

By Ryan Collins and Naureen S. Malik HOUSTON and NEW YORK (Bloomberg) — Another darling of the Trump administration is poised to gain from the Iran deal breakup as oil surges: Natural gas exports. With the move to curb Iran’s oil output encouraging more shale drilling, prices for natural gas produced alongside crude in West Texas could crater, falling to ...