The discount on Western Canada Select to the North American benchmark West Texas Intermediate futures settled Thursday at its widest since March. WCS for August delivery in Hardisty, Alberta, settled at $11 a barrel under the U.S. benchmark WTI, according to brokerage CalRock, compared with $10.95 a barrel on Wednesday. * The differential between Canadian heavy crude and the U.S. benchmark is the widest it's been in four months — about $2 a barrel wider than it was in June. This is due to the [Read more]
Petrobras may redirect oil to Asia due to US tariff on Brazil, CEO says
Brazilian state-run oil firm Petrobras may redirect the oil it sells to the United States, sending more to Asia and Pacific markets due to higher tariffs the U.S. announced on Brazil, its chief executive told Reuters on Thursday. Although oil and gas exports make up a hefty share of Brazil's exports to the United States, Petrobras CEO Magda Chambriard said it is not an essential market for the firm. "It is not much that we export (to the U.S.). In general, we are not very worried," she said [Read more]
Freeport LNG export plant in Texas on track to return to full power, LSEG data shows
U.S. liquefied natural gas company Freeport LNG's export plant in Texas was on track to take in more natural gas on Thursday, two days after one of the plant's three liquefaction trains shut, according to a company filing with state regulators and gas flow data from financial firm LSEG. Freeport told Texas environmental regulators on Wednesday that the plant had an emissions event after liquefaction train 2 shut Tuesday night due to an issue with a compressor system. Officials at Freeport [Read more]
Oil up as demand expectations, economic data lift sentiment
Oil prices rose on Thursday, reversing declines in the previous three sessions, buoyed by stronger-than-expected economic data from the world's top oil consumers and signs of easing trade tensions. Brent crude futures rose 24 cents, or 0.35%, to $68.76 a barrel at 0457 GMT. U.S. West Texas Intermediate crude futures were up 33 cents, or 0.5%, at $66.71. Both benchmarks fell more than 0.2% in the previous session. U.S. President Donald Trump has said letters notifying smaller countries of [Read more]
Discount on Western Canada Select widens again
The discount on Western Canada Select to the North American benchmark West Texas Intermediate futures settled Wednesday at its widest since March. WCS for August delivery in Hardisty, Alberta, settled at $10.95 a barrel under the U.S. benchmark WTI, according to brokerage CalRock, compared with $10.90 a barrel Tuesday. * The differential between Canadian heavy crude and the U.S. benchmark is the widest it's been in four months, due to the return of more normal market conditions, analysts [Read more]
US crude stockpiles fall as exports rise; fuel demand drops, EIA says
*Crude inventories drop by 3.9 mln bbls, surpassing forecast *Brent and US crude futures extend losses after EIA report *Crude exports rise to 3.5 mln bpd, EIA reports (Adds details throughout, commentary, market reaction, milestones) By Stephanie Kelly CHICAGO, July 16 - U.S. crude oil stockpiles fell last week as exports rose, while gasoline and distillate inventories rose, prompting some concerns about fuel demand, the Energy Information Administration said on [Read more]
US withdrew oil from strategic reserve last week for first time since 2023, EIA shows
The United States withdrew oil from its Strategic Petroleum Reserve for the first time last week since December 2023, data from the Energy Information Administration showed on Wednesday. 300,000 barrels of crude oil were taken out of the reserve last week, the data showed. The U.S. Energy Department had announced last week that it will allow oil major ExxonMobil to borrow up to a million barrels of crude from the reserve to support its refinery operations. (Reporting by Shariq Khan and [Read more]
How Canada’s oil sands transformed into one of North America’s lowest-cost plays
Giant shovels, driverless trucks and a dog-like robot have all helped Canada's oil sands companies including Imperial Oil and Suncor become some of North America's lowest-cost oil producers, driving down overheads even as the worst inflation in a generation pushed U.S. shale costs up. As the global oil industry enters a downturn due to economic uncertainty related to U.S. tariffs policy and OPEC+ pumping more barrels, Canada's oil sands industry finds itself in a position of strength. In the [Read more]
Venture Global signs 20-year contract to supply LNG to Italy’s Eni
Venture Global will supply 2 million tonnes per annum (MTPA) of liquefied natural gas from its Calcasieu Pass 2 project over 20 years to Italian state-controlled energy group Eni, the two companies said on Wednesday. The deal is Eni's first long-term contract for LNG supply from the United States and will help it expand and diversify its global LNG footprint. Part of these volumes will contribute to the diversification of Europe's gas supplies, Eni said in a statement. Eni said it would [Read more]
India’s GAIL in initial talks for long-term LNG deal with Alaska LNG, sources say
India's state-run GAIL is in initial talks to buy liquefied natural gas from the proposed Alaska LNG project as the South Asian nation expands its import capacity, three industry sources with knowledge of the matter said. The talks with developer Glenfarne come as India works to raise its energy imports from the United States to narrow its trade surplus as part of a broader trade agreement with Washington to avoid the imposition of hefty U.S. tariffs. GAIL's discussions are preliminary as [Read more]
- « Previous Page
- 1
- …
- 205
- 206
- 207
- 208
- 209
- …
- 1081
- Next Page »