Commodities News

BENGALURU, India (Reuters) – Russia was willing to meet India’s oil needs at ‘market price’, the CEO of top Russian oil major told Reuters on Monday.

As of Sunday, no Russian oil products can be imported into the European Union, per the latest sanction hit of Brussels against Moscow. The embargo has been combined with a price...

Crude oil could soon swing into a deficit that will make next year a difficult one, Goldman Sachs said, as spare production capacity dwindles and underinvestment threatens future...

The collective decision taken in October was the correct decisionOPEC+ has always played a constructive role in maintaining a balanced market"We believe there is great confidence...

By Sonali Paul MELBOURNE (Reuters) – Oil prices inched up in early trade on Monday after falling around 8% last week to more than three-week lows as jitters over major...

Last year, against all odds, Russia managed to grow its oil output despite being hit with tough sanctions, a plethora of oilfield service companies exiting the country as well as...

(Reuters) – Australia’s No. 1 gold miner Newcrest Mining Ltd on Monday said it received a non-binding all-stock takeover offer implying an equity value of $16.93 billion from...

International Energy Agency's Executive Director Fatih Birol spoke Sunday on the sidelines of the India Energy Week conference"Via Reuters:"We expect about half of the growth in...

The tanker market and most notably the larger sizes could benefit from higher production figures, but at things stand no such development is close to fruition. In its latest weekly...

Belgian oil tanker and storage operator Euronav on Thursday flagged rising demand from China after it reported better-than-expected fourth-quarter sales driven by large crude...

Oil prices will see a gradual rise this year as demand recovery spurred by China’s reopening and supply shortfalls due to sanctions on Russia offer some respite from global...

The G7 and Australia announced Feb. 3 that consensus had been reached on price cap levels for Russian-origin refined oil products ahead of new sanctions kicking in to ban EU...

The European Commission’s announcement that the EU is proposing a US$100 per barrel price cap on Russian oil products such as diesel, jet fuel and gasoline, and a US$45 per barrel...

Western Canada Select (WCS) crude’s discount to the benchmark West Texas Intermediate (WTI) narrowed on Friday: WCS for March delivery in Hardisty, Alberta, strengthened to $22.50...

Oil prices fell to over three-week lows on Friday in a volatile session, after strong U.S. jobs data raised concerns about higher interest rates and as investors sought more...

U.S. natural gas futures slid about 2% to a 25-month low on Friday on forecasts for milder winter weather than expected over the next two weeks, and lower heating demand. The gas...

Northwest European gasoline refining margins fell on Friday to around $13.90 a barrel as a U.S. stock build this week looked set to hit demand and ahead of an EU embargo and...

The annual output of unconventional natural gas in north China’s coal-rich Shanxi Province increased by 20.2 percent year on year to 11.33 billion cubic meters in 2022, a record...

Jeff Currie heads commodities research at Goldman Sachs. He spoke on the sidelines of a conference in Riyadh, Saudi Arabia, on Sunday. Bloomberg (gated) reports, main pints:Oil...

Gareth Soloway, president and chief market strategist at inthemoneystocks.com, predicts that gold will outperform cryptocurrencies and equity performances in 2023. In an interview...

U.S. crude grades broadly strengthened on Friday, dealers said, ending a week that saw high volatility and price swings in West Texas Intermediate crude futures’ discount to Brent....

U.S. energy firms this week cut the number of oil and natural gas rigs by the most since June 2020, energy services firm Baker Hughes Co said in its closely followed report on...

The prolonged political instability in Bulgaria will continue to impact critical energy security decisions and maintain the country’s status as Russia’s best client in Europe....

With Russian oil exports to drop and Chinese demand to recover, oil prices will rise as demand outstrips supply.

An interesting weekend item from Reuters about oil, but also about circumventing trade payments in the dominant USD - helping Russia to de-dollarise its economy.Indian refiners...

Venezuela’s Paraguana refinery complex is soon to begin a 100-day overhaul to reclaim its crude distillation capacity, anonymous Reuters sources suggested on Friday, with work set...

WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Friday that new price caps by the West on Russian oil products would build on the crude oil cap set in...

The shift in seaborne crude oil volumes was rather obvious during 2022, with the surge of exports from Saudi Arabia quite notable. In its latest weekly report, shipbroker Banchero...

In the first nine months of the fiscal year ending March 31, 2023 (April 1, 2022 to December 31, 2022), consolidated revenues amounted to ¥2,050.1 billion (increased by ¥374.2...

President Joe Biden’s administration said on Wednesday it would support a scaled-back version of ConocoPhillips (NYSE:COP)’ planned $6 billion Willow oil and gas drilling project...

Asia’s naphtha crack lingered near eight-month highs on Friday and posted a weekly gain of about 63%, mirroring the strength in Northwest Europe margins, traders said, while...