Oil prices rose on Friday as heightened tensions in the Middle East raised the risk of supply disruptions from the oil-producing region, though prices are set for weekly losses amid expectations of fewer U.S. interest rate cuts this year. Brent crude futures climbed 51 cents, or 0.57%, to $90.25 a barrel by 0420 GMT, while U.S. West Texas Intermediate crude futures rose 61 cents, or 0.72%, to $85.63. The gains erased some losses from the previous session, which was dominated by worries [Read more]
Heavy oil differential tightens
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) narrowed on Thursday: * WCS for May delivery in Hardisty, Alberta, settled at $13.60 a barrel below WTI, according to brokerage CalRock, after closing at $14.30 a barrel below the benchmark on Wednesday. * Canadian heavy crude differentials have tightened sharply this month on news the 600,000 barrel-per-day Trans Mountain pipeline expansion project would start [Read more]
UAE’s ADNOC recently eyed BP as takeover target, sources say
The United Arab Emirates' state-owned oil company recently considered buying Britain's BP but the deliberations did not progress beyond preliminary discussions, people familiar with the matter told Reuters. Abu Dhabi National Oil Company (ADNOC) ultimately decided BP would not be the right fit for its strategy, three people said. Political considerations also weighed on the potential move, one of the people said. The 88 billion-pound ($110.3 billion) company has underperformed its [Read more]
Investors bet on further rise in US gasoline prices: Kemp
Portfolio investors have amassed one of the largest bullish positions in U.S. gasoline futures and options since before the coronavirus pandemic, anticipating that prices will continue climbing over the next few months. U.S. gasoline has emerged as the most attractive part of the petroleum complex for investors betting prices will rise further this year in the run up to U.S. presidential and congressional elections in November. Relatively low inventories, employment gains, strong household [Read more]
TransAlta names TC Energy’s Joel Hunter as CFO
Canadian power company TransAlta on Thursday appointed TC Energy's chief financial officer Joel Hunter as the company's finance chief, effective July 1. The company said that its current CFO Todd Stack will retire, effective June 30. (Reporting by Vallari Srivastava in Bengaluru; Editing by Shailesh Kuber) [Read more]
US natgas flows to Texas Freeport LNG export plant seen down on Thursday – LSEG data
The amount of natural gas flowing to Freeport LNG's liquefied natural gas (LNG) export plant in Texas was on track to drop to near zero on Thursday, the day after the company said one of the plant's three liquefaction trains tripped, according to data from financial firm LSEG. The startup and shutdown of Freeport has in the past had a major impact on gas prices in the U.S. and Europe. Gas futures at the Dutch Title Transfer Facility (TTF), the European benchmark, were up about 5%, while [Read more]
Cenovus Energy to invest $1.5 billion in Ohio refineries – local media
Cenovus Energy has announced a $1.5 billion investment in its Ohio refineries, including Lima and Oregon, according to a local media report on Wednesday. Ohio provides a "vital strategic location" that aids Cenovus's decision to expand, said Doreen Cole, the company's executive vice president, downstream, in a press release, quoted by the local media. Cenovus produces oil and natural gas with locations in Canada, the United States and the Asia Pacific region and is the largest refiner in [Read more]
Colombia to loosen regulation for gas exploration, supply in short term
Colombia will look to loosen regulation on gas exploration and supply to meet its needs in 2026 and 2027, Mines and Energy Minister Andres Camacho said on Wednesday. The South American nation needs to resolve a gas deficit amid rising demand, with measures to include buying more liquefied gas and possibly importing from neighboring Venezuela. "We have been working to make regulatory terms more flexible and guarantee enabling conditions to commercialize off-shore gas this year so that we [Read more]
Heavy oil differential widens
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened on Wednesday: • WCS for May delivery in Hardisty, Alberta, settled at $14.30 per barrel below WTI, according to brokerage CalRock, after closing at $13.75 a barrel below the benchmark on Tuesday. • Canadian heavy crude differentials tightened sharply this month on news the 600,000 barrel-per-day Trans Mountain pipeline expansion project would start operating on [Read more]
US natgas prices hit 5-week high on rising feedgas to Freeport LNG, output drop
U.S. natural gas futures edged up about 1% to a five-week high on Wednesday on an increase in feedgas to the Freeport LNG export plant and a drop in output as pipeline maintenance trapped gas in Texas and producers continued to reduce drilling activities after prices collapsed to 3-1/2-year lows earlier this year. Limiting price gains was the huge amount of surplus of gas in storage and negative spot power and gas prices in parts of Texas, California and Arizona seen over the past few [Read more]
- « Previous Page
- 1
- …
- 5
- 6
- 7
- 8
- 9
- …
- 611
- Next Page »