Oil Prices Slide 2% as Markets Brace for Bessent’s ‘Economic D-Day’
Oil prices fell by more than 2% in early Asian trade on Monday as traders took profits and markets awaited details of a new U.S. sanctions package against Iran. At…
Iraq Wants to Double Oil Output—and Needs OPEC to Get Out of the Way
Iraq wants to more than double its oil production within six years. First, it needs OPEC to let it. Baghdad is targeting output of between 8 million and 10 million…
Tankers Wait a Month as Venezuela Hits an Oil Export Ceiling
Venezuela has plenty of oil buyers again. What it does not have is enough functioning port infrastructure to get them their crude. Tankers are waiting as long as 30 days…
Brent Sees Another Volatile Month of Trading
Brent crude has seen another volatile month of trading, with the most actively traded contracts for Brent futures and Dated Brent ranging between $79.5-100.7 per barrel and $85.3-105.6 per barrel,…
US brewery records $100,000 loss from CO2 supply shortages
By 28 min ago 3 min read The president of a major US craft brewery has described how CO2 shortages and supply uncertainties led to $100,000 in lost revenues. Speaking…
Qatar ‘cuts government budget’ as LNG income collapses
By 13 min ago 2 min read Qatar has cut government department budgets by up to 30% as the Gulf state grapples with the collapse in LNG revenues. The figure…
India Boosts Battery Investment to Cut Solar Power Waste
Solar power developers in India have started to add battery storage to photovoltaic projects to attract buyers and reduce the large share of curtailments for power supply that the grids…
Iranian Oil Supply to China Is Rapidly Drying Up
Iranian crude oil cargoes readily available to Chinese buyers have nearly dried up following the reinstated U.S. blockade on Iran’s oil exports, suggesting that independent Chinese refiners, the biggest buyers…
China’s Teapots Look Beyond Iranian Oil amid U.S. Blockade
China’s refiners have imported lower volumes of Iranian crude in August compared to July as the U.S. blockade reinstated in mid-July is squeezing crude supply to Iran’s top oil customer. …
Ukrainian Drone Attack Hits Lukoil Refinery Deep in Russia
Ukraine overnight hit with drones an oil refinery in the Perm region, deep into Russian territory, as the Ukrainian military has been targeting Russia’s oil processing and exporting facilities on…
