VENTURE CAPITAL POST

Donald Trump allegedly promised oil CEOs that he'd end EV incentives if they could donate $1 billion to his election campaign. Is this true?

The Norwegian oil production tanker Johan Castberg is undergoing final checks before she sets sail for a Barents Sea oil field of the same name by Q4 2024.

Canadian oil and energy company Enerplus reported an 18.6% revenue loss for its Q1 2024 report compared to figures at the same period last year.

Shell's Singapore oil refinery and chemical assets will be sold to a Glencore-led joint venture with a purchase sale of below $1 billion, following agreements in place for continued collaboration and strategic alignment with CAPGC.

Olive oil costs are still rising, so consumers should prepare for more increases. Olive oil prices are expected to exceed £16 per liter ($21).

US crude inventories reaching record highs led to further declines in oil prices, with West Texas Intermediate dropping below $80 per barrel, surprising traders and reducing investor confidence.

The World Bank warns that escalating conflicts in the Middle East could push oil prices over $100 a barrel, potentially increasing the recent decline in global inflation and worsening economic challenges worldwide.

U.S. regional banks are filling the lending gap for oil, gas, and coal companies left by European lenders amid climate concerns, with banks like Citizens Financial Group Inc., BOK Financial Corp., and Truist Securities Inc. increasing fossil-fuel loans.

Russian diesel fuel stranded at the sea was attributed to mostly Ukraine drone attacks on their oil refineries and heightened sanctions.

Sergio Massa, Argentina's Economy Minister and presidential candidate, has warned oil producers of impending export restrictions unless they address fuel shortages.

Russia's Sokol crude faces a backlog, with tankers stranded off Singapore and South Korea due to US sanctions. China emerges as a key importer, aiding clearance.

Oil prices remained relatively stable on Thursday, with Brent crude futures settling unchanged at $82.96 per barrel.

Oil prices fell further as the dollar rose on market predictions that inflation will delay US interest rate reductions that have limited global fuel demand growth.

Oil prices surged over 3% on Wednesday following a warning from the US regarding Houthi militants' activities in the Red Sea.

The United States has successfully finalized contracts to buy three million barrels of oil to help replenish the Strategic Petroleum Reserve (SPR) following last year's record-setting sale, the US Department of Energy disclosed.