Oil prices traded around their lowest level in six weeks on Wednesday, as the northern hemisphere gets deeper into summer with limited signs of the expected fuel consumption surge the period usually sees. Wednesday saw only a slight reprieve, as prices snapped three straight sessions of decline on...
https://www.hellenicshippingnews.com/oil-prices-hover-near-lowest-in-six-weeks/
Consumption of natural gas in Europe consistently decreased since mid-2022, driven by a combination of mild winter weather and government policies aimed at reducing natural gas consumption. In 2023, natural gas consumption in the European Union’s 27 member countries (EU-27) declined 18% from the...
Iran has set the official selling price (OSP) for its light crude oil grade for Asian buyers at $2.10 a barrel above the Oman/Dubai average for August, state-owned National Iranian Oil Company (NIOC) said on Tuesday. The August price is down $0.50 from the previous month. The table below shows...
https://www.hellenicshippingnews.com/iran-lowers-august-light-crude-oil-price-to-asia/
Oil prices fell about 2% to a six-week low on Tuesday on rising expectations of a ceasefire in Gaza and growing demand concerns in China. Brent futures fell $1.38, or 1.7%, to $81.02 a barrel by 12:13 p.m. EST (1613 GMT), while U.S. West Texas Intermediate (WTI) crude fell $1.49, or 1.9%, to...
The crude oil market is currently tight but next year will likely be in surplus, with Brent prices declining into the mid-to-high $70s range, Morgan Stanley said. The tightness will hold for most of the third quarter, the bank said in a note dated on Friday, but equilibrium will return by the...
Energy – Russian crude transit issues Oil prices came under further pressure yesterday with demand concerns lingering in the market. However, we remain constructive towards the market through the third quarter and still expect prices to move higher from current levels. OPEC+ cuts should ensure that...
https://www.hellenicshippingnews.com/the-commodities-feed-further-downward-pressure/
The wholesale price of Russian high-octane Ai-95 gasoline jumped by around 44% in the past month and a half, close to an all-time peak, amid shortages of the grade due to refinery maintenances and high demand, market players said. The shortages and price surge are likely to make further case for...
https://www.hellenicshippingnews.com/russian-gasoline-grades-price-surges-as-shortages-persist/
Oil prices were flat on Tuesday after a European Central Bank official hinted at a possible rate cut in September, offsetting pressure from renewed hopes of a ceasefire in the war in Gaza. Brent crude futures for September rose 18 cents to $82.58 a barrel by 0947 GMT. U.S. West Texas Intermediate...
Kremlin spokesman Dmitry Peskov on Friday called interruptions in Russian oil transit via Ukraine a “crisis” for the affected oil buyers, but said there was little scope for talks with the Ukrainian transit firms because the decision had been political. Slovakia and Hungary have said they stopped...
The increasing role of LNG in meeting global energy demand since the Russia-Ukraine war, combined with rapidly growing pressures to decarbonise energy-intensive economic activities, has led to heightened attention on greenhouse gas (GHG) emissions from the LNG value chain. Emissions from the LNG...
https://www.hellenicshippingnews.com/why-closer-attention-is-now-being-paid-to-lng-emissions/