Russian President Vladimir Putin said on Friday that his country was ready to supply oil and oil products to the US and global markets, and that this would help the global economy as a whole, according to a statement published by the Kremlin. US President Donald Trump said earlier that Russia would immediately supply 300,000 tons of diesel fuel to global markets following a phone call with the Russian leader on Friday. Putin's statement, published by the Kremlin, said the two leaders also [Read more]

US President Donald Trump has insisted on more deals and tie-ups between Mexican and US energy companies in a call with Mexican President Claudia Sheinbaum, the Financial Times reported on Friday. The leaders have also discussed a deal similar to the one signed last year with South Korea, in which Seoul agreed to buy $100 billion of US energy products and invest billions more in the US, the FT said, citing people familiar with the matter. A US official told the FT the leaders discussed the [Read more]

President Donald Trump will soon issue a directive to some of his department heads to find ways to control prices of diesel fuel which are near record highs in the weeks before the November 3 congressional elections that will determine control of Congress, three industry sources said on Friday. The directive, which could take the form of a presidential memo, will push officials to find ways to bypass local and state regulations blocking energy production and use the Cold War-era Defense [Read more]

The Columbus/Indigenous Peoples federal holiday on Monday, Oct. 12 will affect the release schedule of some major energy data to be issued during the Oct. 11 week. Below is the schedule for the release of U.S. petroleum, oil and natural gas supply and inventory for the week. WEEK OF OCT 11: AMERICAN PETROLEUM INSTITUTE - OIL API's weekly petroleum stocks report will be delayed to Wednesday, Oct. 14 at 4:30 p.m. EDT (2030 GMT). The report is normally released on Tuesday. ENERGY [Read more]

US producers in the Gulf of Mexico shut in about 71.51% of the current daily oil production and 58.84% of the current daily natural gas production ahead of Hurricane Isaias, according to the Marine Minerals Administration. Personnel have been evacuated from 129 production platforms, representing 34.8% of the 371 staffed platforms in the Gulf of America, the agency said. It added that crews had also been evacuated from eight non-dynamically positioned rigs, equivalent to 72.7% of the 11 such [Read more]

US President Donald Trump said on Friday there would be "big news" on diesel, as prices of that fuel remain at near record highs in the weeks before Nov. 3 congressional elections that will determine control of Congress. "We have a big announcement coming up on diesel," Trump said without elaborating at a White House event. "We have, I think, some big news on that diesel situation. We're going to be knocking the hell out of it." Diesel prices are up 70% since ​the US-Israeli war on Iran [Read more]

A vessel was struck by an unknown projectile 13 nautical miles west of Al Jazeera in the United Arab Emirates on Friday, causing a fire that has since been extinguished, British navy affiliated agency UKMTO said, citing multiple sources. While there was no claim of responsibility, maritime security sources said on Friday that the strike was outside of the Hormuz area and indicated a widening of risk for ships. Earlier this week a tanker was struck off the coast of Qatar inside the [Read more]