This week, the Biden administration revealed that it will release as much as 180 million barrels of crude oil in a bid to calm oil prices, which have remained above $100 per barrel for an extended period of time. The International Energy Agency, meanwhile, is coordinating a smaller but international reserve release of some 60 […]
Press play to listen to this article Having spent years cozying up to Russian oil and gas interests, Germany is now scrambling to loosen their grip and take back control of its critical energy infrastructure. Berlin is looking into forcing Kremlin-backed Gazprom to sell critical gas storage facilities across Germany, effectively meaning an expropriation of […]
The OPEC+ group is set to meet on Thursday this week to determine the output levels for production beginning in May—and as volatile oil prices stick well above $100 per barrel, the group’s decision could be their most influential one yet. Nevertheless, the market is mostly assuming that OPEC+ will stick with its pre-planned production […]
The OPEC+ group is set to meet on Thursday this week to determine the output levels for production beginning in May—and as volatile oil prices stick well above $100 per barrel, the group’s decision could be their most influential one yet. Nevertheless, the market is mostly assuming that OPEC+ will stick with its pre-planned production […]
US oil refiners are once again making good money, but investors aren’t quite piling into the shares. They should be, a top energy analyst tells me. The profit boom could last through the end of the decade, helped by a price mishap that won’t be easy to fix: the giant premium Europe must pay for […]
A consortium operating the pipeline that Kazakhstan uses to export the bulk of its oil has said the route may be largely unusable for up to two months because of infrastructure damage caused by a recent storm. The Caspian Pipeline Consortium, or CPC, said in a March 22 statement that two of three tanker loading […]
President Vladimir Putin’s war in Ukraine, and the wave of Western sanctions in response, is starting to hit Russia’s economic engine: Its prodigious oil-and-gas industry. The US and Canada have barred the little Russian oil they import, while the European Union is considering a ban. But for the most part, Western sanctions have so far […]
Text size The S&P 500 saw its best week since November 2020 last week. Ed Jones/AFP via Getty Images The stock market slide Monday as Federal Reserve Chair Jerome Powell indicated that the central bank could be more aggressive in lifting interest rates. Tea Dow Jones Industrial Average dropped 202 points, or 0.6%, while the […]
(Kitco News) Precious metals are back at the top of the leader board, posting double-digit gains as the volatile commodity space keeps investors looking at gold, palladium, silver, and platinum. On Thursday, the commodity space surged as oil prices rose on fears of possible supply shortages due to the Russia-Ukraine conflict. […]
The price action has been nothing short of breathtaking — oil has swung by $55 a barrel this year. On Thursday alone, it surged by more than 7% after peace negotiations stalled in Ukraine and billionaire Warren Buffett boosted his stake in a high-flying US oil company. Early on March 17, West Texas crude oil […]
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