Oil toils: Prices slide to seven-week low as Covid-19 cases surge across Europe November 21, 2021 Oil prices slide to seven week lows amid rising Covid-19 cases and positive noises from Japan regarding releasing reserves.
Oil be back: Prices recover despite Biden pushing China to release crude reserves November 19, 2021 Oil prices are showing signs of recovery despite calls from the US and China to flood the market with crude reserves.
Oil prices slump to six-week lows as US and China join forces to release reserves November 18, 2021 Oil prices slide six-week lows as US and China pledge to release their reserves to counter high prices.
Crude moves: End of oil rally may be in sight with US ramping up production November 16, 2021 Soaring oil prices could be reduced by a global rebound in supplies, the International Energy Agency (IEA) said yesterday. In its November oil report, the organisation argued “the tide might be turning” in the market as supplies catch up with demand. The IEA now expects oil production to increase by 1.5m barrels per day over [...]
Exclusive: En+ chairman and former minister Lord Barker warns ‘don’t expect a big bang’ from COP26 November 14, 2021 Many eyes were on Lord Gregory Barker of Battle earlier this week, as ‘his’ global energy giant En+ was at the heart of COP26’s complex ecosystem of executives, government reps, lobbyists, NGOs and activists in Glasgow. Lord Barker was appointed independent chairman of the En+ Group board of directors in October 2017, just before the company’s [...]
Oil prices fall again amid fears of US interest rate hikes November 12, 2021 Oil prices slumped on Friday afternoon amid swirling rumours of impending interest rate hikes and President Biden releasing stored supplies. WTI Crude plummeted 1.89 per cent to $80.03 a barrel, while Brent Crude futures dropped 1.69 per cent to $81.49, wiping out gains from the past week. Both benchmark crude contracts were poised to end [...]
Oil prices reach two-week highs amid supply pressures and air travel demand November 10, 2021 Oil prices continued their rebound on Wednesday morning, as both major benchmarks reached two-weeks highs. Prices have risen again after US crude stocks unexpectedly dropped last week, alongside rising air travel demand and easing Covid-19 restrictions. API data reportedly revealed U.S. crude stocks declined by 2.5 million barrels for the week to November 5. This [...]
Touchstone Exploration’s shares soar after new light oil discovery November 8, 2021 Touchstone Exploration has discovered light oil through the first of three planned production tests at its Royston-1 exploration well in Trinidad. It is the fourth successful well in the company’s Ortoire Block, following discoveries of hydrocarbons at COHO, Cascadura and Cascadura-Deep. The company’s shares rose by 25.5 per cent today, trading at a peak of [...]
Oil prices rise after US agrees $1tn infrastructure deal November 8, 2021 Oil prices have continued to recover after US congress passed Joe Biden’s $1tn infrastructure deal, improving the global outlook for energy demand. The package includes major upgrades to roads, railways and broadband across the country and could boost economic growth and demand for fuel. Oil prices recovered from last week’s mini-slump with Brent crude up [...]
Saudi Arabia announces 2060 net zero target ahead of COP26 climate summit October 24, 2021 Saudi Arabia has pledged to cut carbon emissions and reach net zero by 2060. Crown prince Mohammed bin Salman announced the country will push its climate agenda while maintaining its role as a leading producer of oil and gas. Speaking at the official launch of Saudi Green Initiative Forum, he revealed the country would spend [...]