crudeoil
On Saturday, 13 April, Iran unleashed a barrage of 300 aerial drones and missiles toward Israel in a retaliatory move. While Israeli defences, bolstered by support from the US, UK, and European allies, reportedly neutralised 99% of the threats, the incident has sparked concerns of escalating tensions in the volatile Middle East. Following the attack, the White House clearly opposed any Israeli retaliatory strikes against Iran, aiming to prevent further escalation into a regional war. Yet, the Israeli war cabinet remains divided on how and when to respond, a situation that adds layers of uncert...
Euronews (English)
By the afternoon, the FTSE 100 lost some steam, however, and hovered around 7,948.52. The blue-chip index was boosted by mining and commodity stocks with shares in BP and Shell both jumping around 3%, supported by higher oil prices. Oil prices rise: What's pushing up the cost of crude? Shares in mining stocks Fresnillo, Anglo American and Glencore also helped lift the FTSE 100, up 7%, 4% and 3%, respectively. “The ongoing rise in oil prices amid a tighter supply outlook is a worry for corporates and consumers as it is a major inflationary force,” Russ Mould, investment director at AJ Bell, sai...
Euronews (English)
Russian news media reported on Thursday the sudden death of Vitaly Robertus, Vice President of the country’s oil and gas giant Lukoil, writing that the manager died from suicide in his office this week. Just before his death, local media wrote that Robertus had complained of suffering headaches and asking for medications before going to his office. He was later found hanged in the room. "He didn't leave for several hours and didn’t answer his phone. The employees decided to go into his office and found his body. The top manager died by suicide of asphyxia. He had worked at the company for abou...
Euronews (English)
China's third largest national oil and gas company, China National Offshore Oil Company (CNOOC), has recently revealed that it has made a massive deep-water oil discovery in the Kaiping South oilfield. This will add more than a hundred million tons of oil equivalent to the oilfield's total proved in-place volume. The Kaiping South oilfield is 300 kilometres off the coast of Guangdong province, in the South China Sea. It is one of China's offshore oil fields, mainly yielding light crude oil. With an average water depth of about 500 metres, the key oil-bearing plays are Enping Formation, Zhuhai ...
Euronews (English)
US diesel exports to Europe almost halved in February to 6.65 million barrels, down from 11.44 million barrels in January, according to analysis by ship tracking firm Kpler. The drop in supply was driven by technical failures and planned refurbishments at US refineries, which has cut output to 10% below the prior five-year's seasonal average. Official government data shows that, in the week to 9 February, US distillates output fell to 4 million barrels per day, the lowest figure seen since December 2022. A key loss to the market is BP's Whiting refinery in Indiana, which shut at the start of F...
Euronews (English)
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