Russia is open to cooperation with the United States in Alaska, but a political decision from Washington is needed to resume economic engagement, President Vladimir Putin told an economic forum in Russia's far eastern city of Vladivostok on Friday. The U.S. has significant resource potential in Alaska, while Russia possesses effective technologies for oil and gas development, Putin said. (Reporting by Vladimir Soldatkin and Olesya Astakhova; Writing by Maxim Rodionov; Editing by Mark [Read more]

Oil prices extended their decline into a third session on Friday, heading for a weekly loss for the first time in three weeks as supply expectations grow and a surprise build in U.S. crude stocks adds to demand concerns. Brent crude futures fell 10 cents, or 0.15%, to $66.89 a barrel by 0420 GMT, while U.S. West Texas Intermediate crude fell 13 cents, or 0.20%, to $63.35. Brent was down 1.78% and WTI down 1% so far this week. Crude oil remained under pressure amid concerns of rising [Read more]

Oil prices drifted down in early trading on Friday for the third straight day as investors awaited an OPEC+ meeting this weekend that will consider further output hikes. Brent crude futures fell 23 cents, or 0.3%, to $66.77 a barrel at 0012 GMT, while U.S. West Texas Intermediate crude fell 19 cents, or 0.3%, to $63.29. Eight members of the Organization of the Petroleum Exporting Countries and allies like Russia in OPEC+ will consider further raising production in October at a meeting on [Read more]

The Trump administration is more willing to support loan guarantees and tax breaks for nuclear power than for wind and solar because it is "more American" than those forms of energy, the director of the U.S. Energy Dominance Council said on Thursday. Jarrod Agen said nuclear power is more likely to be made from U.S.-made parts than wind and solar farms, so the administration is more willing to give it financial aid from the U.S. Loan Programs Office and support tax incentives. "Nuclear is [Read more]

The discount on Western Canada Select to North American benchmark West Texas Intermediate futures widened on Thursday. WCS for October delivery in Hardisty, Alberta, settled at $11.55 a barrel under the U.S. benchmark WTI, according to brokerage CalRock, compared with $11.45 a barrel discount on Wednesday. * WCS discounts had already widened in August, in part due to BP's 440,000-barrel-per-day refinery in Whiting, Indiana, being affected by flooding after a severe thunderstorm. The [Read more]

U.S. crude and distillate inventories rose while gasoline stocks fell last week, the Energy Information Administration said on Thursday. Crude inventories rose by 2.4 million barrels to 420.7 million barrels in the week ended August 29, the EIA said, compared with analysts' expectations in a Reuters poll for a 2 million-barrel draw. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.6 million barrels last week, the EIA said. Refinery crude runs fell by 11,000 barrels per day, [Read more]