ExxonMobil, Chevron clock best month since 2022 as crude surges
ES of US oil giants ExxonMobil and Chevron notched their largest monthly gains in more than three years, boosted by rising energy prices, geopolitical tensions and improving…
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Crude
Indonesia’s launch of B50 biodiesel subject to prices of crude oil and CPO, minister says
The country subsidises its biodiesel programme using proceeds from palm oil export levies The timing of Indonesia’s launch of its B50 biodiesel mandate, which blends 50 per cent palm…
Chinese refiners expected to replace Venezuelan oil with Iranian crude
Analysts say the Venezuela drama hits ‘teapots’ the hardest, and do not foresee them bidding up for unsanctioned barrels Chinese independent refiners are expected to switch to heavy crude…
Proposed legislation would add refined fuels to the U.S. emergency crude oil supply
Sen. John Curtis has introduced legislation to establish a dedicated stockpile of refined fuels such as gasoline, diesel and jet fuel and locate it west of the Rocky Mountains. Source link
Oil rises as Trump’s Venezuela blockade takes edge off global crude surplus concerns
Oil prices rallied by more than 1 per cent on Wednesday after US President Donald Trump ordered a blockade of all oil tankers under sanctions entering and leaving Venezuela, raising global…
Surging Chinese imports of Indonesia oil point to rebranded Iranian crude, traders say
China’s imports from Malaysia have almost halved since July from this year’s peak in March at 8.5 million tonnes China is importing unusually large quantities of crude oil from Indonesia,…
Crude oil recovers late in session on hopes over US-Hungary meeting
Crude prices recovered from a midday dip on Friday on hopes Hungary can use Russian crude oil as US President Donald Trump met Hungary’s Prime Minister Viktor Orban at the White House.…
Asia: Crude spikes as Trump threatens Russian giants, stocks turn lower
Crude prices spiked more than two per cent on Thursday after Donald Trump said he would hit two Russian oil companies with hefty sanctions, while talk that the White House was planning…
US hits firms moving Iranian oil and major China crude terminal
The latest designations by the Treasury Department mark the latest effort by Washington to target the Beijing-Tehran energy trade The US sanctioned more than 50 individuals, firms and…
China can’t be counted on to absorb global crude surplus as Opec+ bumps up production: market watchers
Crude could trade at below US$60 a barrel by end-2025 as the world’s largest oil importer slows down stockpiling The crude oil market is embracing a rising supply glut that will not be…
Oil prices ease on surprise build in US crude stockpiles, Opec+ to consider output hike
Oil prices eased about 1 per cent to a two-week low on Thursday on a surprise build in US crude inventories last week and expectations that Opec+ producers will increase output targets at…
Oil edges up on US crude stocks drop, impact of US tariffs on India
Oil prices settled higher on Wednesday (Aug 27) after data showed a larger-than-expected drop in US crude inventories and as investors weighed the potential impact from new US tariffs on…
Oil prices climb 2% on drop in US crude inventories as investors focus on Ukraine peace push
Oil prices climbed about 2 per cent on Wednesday on a bigger-than-expected weekly drop in US crude inventories as investors awaited the next steps in talks to end the Ukraine war, with…
Saudis raise crude prices to Asia after Opec+ adds barrels
Saudi Arabia raised crude prices for a second consecutive month, signalling confidence in demand for its barrels as Organization of the Petroleum Exporting Countries and its allies (Opec+)…
ExxonMobil reports 23.4% drop in profits on lower crude prices
ExxonMobil reported a drop in second-quarter profits on Friday (Aug 1) as the hit from lower crude prices more than offset a boost from higher oil and gas production. The petroleum…
US: Stocks rally as crude prices fall sharply
Wall Street stocks rose on Monday as markets shrugged off Iran’s response to the weekend US military strike while petroleum-related equities plummeted with crude prices. Iran…
Iran Votes to Close Strait of Hormuz that Could Put One-Fifth of World's Oil Supply at Risk and Trigger Sharp Rise in Global Crude Prices
Iran's parliament has voted to close down the Strait of Hormuz, a crucial maritime route that handles around 20 percent of the world's daily oil supply, which could halt around $1 billion…
Crude climbs on US jobs report, China talks
Crude rose more than US$1 a barrel on Friday, posting its first weekly gain in three weeks after a favourable US jobs report and resumed trade talks between the US and China, raising hopes…
Oil Prices Hold Steady as U.S. Fuel Stocks Rise and Saudi Arabia Cuts Crude Rates
After a turbulent opening to the week, oil markets had a bit of a breather on Thursday. Investors, who are still processing a jumble of bearish data and global supply chain disruptions,…
Oil rises marginally on tariff exemption, Chinese crude imports
Oil prices settled slightly higher on Monday (Apr 14) on exemptions for some electronics from US tariffs and data showing a sharp rebound in China’s crude imports in March, but gains were…
Trump tariff threats loom over US reliance on Canadian crude oil
What's New President-elect Donald Trump's threats to impose a 25 percent tariff on Canadian goods are sparking fears of higher gas prices and economic friction when it comes to trade. Why…
Oil prices edge higher on US crude stockpiles draw
OIL prices inched up on Thursday (Oct 17), bouncing back from two-week lows, after data showed falling crude and fuel inventories in the United States. Brent crude futures settled at…
Asia: Crude stable after Israel-Iran surge, Hong Kong stocks resume gains
OIL prices stabilised on Friday (Oct 4) after soaring on fears about the Middle East crisis as investors await Israel’s response to Iran’s missile attack, while shares in Hong Kong resumed…