Oil prices surged over 3% on Wednesday following a warning from the US regarding Houthi militants' activities in the Red Sea.
Tags: Oil
US Banks to Increase Loans to Oil and Gas Companies as Europeans Reduce Theirs Over Climate Change Concerns
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.
Ukraine Drone Attacks Leave Several Russian Diesel Fuel Stranded at Sea
Russian diesel fuel stranded at the sea was attributed to mostly Ukraine drone attacks on their oil refineries and heightened sanctions.
Argentina's Economy Minister Issues Warning Over Fuel Shortages: Export Restrictions Loom
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 Backlog Near Clearing as China Emerges as Key Importer
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.
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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.
The il and gas industry had slowly rising under Trump's winning as the next President of the United States.
Glencore and Qatar takes $11 billion stake in state-run oil producer Rosneft. Russian President Vladimir Putin personally announced the deal which is expected to close mid-December.
For the first time after after two years, the oil and gas investment in the U.S is slowly getting higher.
The Oklahoma Geological Survey said that market conditions have cutbacks from oil and natural gas production.
No good profit is expected for the oil investment in 2017. Oil production investment is expected to likely to fall for a third year in 2017 as a global supply glut persists, stoking volatility in crude markets, the head of the International Energy Agency (IEA) said on Thursday.
For the first time need to withdraw cash sovereign wealth fund as western Europe's bigget oil exporter.
Saudi Arabia just got a negative rating from Fitch, from AA to AA-. The downgrade is due to the oil-rich kingdom's decision to slash its average oil price assumptions from $35 to $45 a barrel for 2016 and 2017.
Nigeria is suffering from fuel shortages as well as lack of hard currency. Four major oil companies agreed to finance the country’s $200 million fuel import along with the lack of the dollars to sustain the country’s fuel needs.
