U.S. crude oil stockpiles are expected to have fallen for a fourth consecutive week, with gasoline and distillate inventories also forecast to have declined last week, a preliminary Reuters poll showed on Monday. Six analysts polled by Reuters estimated on average that crude inventories fell by...
https://www.hellenicshippingnews.com/us-crude-inventories-seen-down-for-fourth-week-in-a-row/
As of April 1, natural gas storage inventories were 56% full—the highest percentage on record for the end of a heating season (November 1 through March 31)—according to data from Gas Infrastructure Europe’s Aggregated Gas Storage Inventory (AGSI+). On April 1, natural gas storage in Europe totaled...
The African Petroleum Producers’ Organisation (APPO) is finalising plans to set up the Africa Energy Bank to reduce overseas financing. African nations, which are members of the Petroleum Producers’ Organisation, will collaborate with the African Export-Import Bank to launch an energy bank by the...
https://www.hellenicshippingnews.com/african-nations-set-to-launch-bank-for-funding-oil-projects/
On Friday (May 5), local time (May 5), Greg Ebel, CEO of Canadian oil and gas pipeline company Enbridge, said that despite the recent sharp drop in international oil prices, current energy prices are beneficial to ordinary consumers and producers. Due to concerns about economic recession and the...
Iraq will sign a much-delayed investment contract with France’s TotalEnergies for flare gas recovery project in two weeks, the OPEC member’s Oil Minister said. The state-owned Iraqi News Agency INA), quoting Minister Hayan Abdul Ghani, that the project will recover 600 million cubic feet of gas...
https://www.hellenicshippingnews.com/iraq-plans-to-soon-launch-sixth-hydrocarbon-licensing-round/
Global gasoline demand is picking up the slack of jet fuel as long-haul air travel is lagging a recovery in domestic flights, Vitol’s Mike Muller told the Gulf Intelligence webcast on May 7. “What has surprised on the upside” from recent Asia holidays is gasoline demand in China, the Vitol director...
Oil rose almost 3% on Monday as U.S. recession fears eased and some traders took the view that crude’s recent price slide was overdone with three straight weekly declines for the first time since November. A healthy U.S. jobs report for April helped oil to climb by about 4% on Friday even though...
https://www.hellenicshippingnews.com/oil-climbs-almost-3-as-recession-fears-begin-to-fade/
U.S. energy firms cut the most oil and natural gas rigs in a week since February, energy services firm Baker Hughes Co said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by seven to 748 in the week to May 5. Despite this …
Oil prices rose on Friday but fell for the third straight week after a sharp fall earlier this week ahead of benchmark interest rate rises and on concern that the U.S. banking crisis will slow the economy and sap fuel demand. Brent crude closed $2.80, or 3.9% higher, at $75.30 a barrel. U.S. West...
Oil prices rose on Friday but were set for a third straight week of losses after sharp declines earlier in the week on fears about interest rate hikes, U.S. banking sector problems and slowing Chinese demand. Brent crude rose $2.88, or 4%, to $75.37 a barrel by 1:03 p.m. ET (1703 GMT). U.S. West...
https://www.hellenicshippingnews.com/oil-prices-jump-but-still-on-track-for-third-weekly-fall/