Oil

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Nov 18 (Reuters) – U.S. energy firms this week added oil and natural gas rigs for a third week in a row as relatively high oil prices encourage companies to drill more. The oil and gas rig count, an early indicator of future output, rose three to 782 in the week to Nov. 18, its […]

WASHINGTON, Nov 17 (Reuters) – The United States targeted oil and gas companies in its latest round of Iran-related sanctions, according to a notice posted to the U.S. Department of Treasury website on Thursday. The sanctions target 13 companies in a range of countries, including China and the United Arab Emirates. Reporting by Susan Heavey; […]

Comment on this story Comment The relationship between Washington and Riyadh has reached that stage where Saudi Arabian officials give TV interviews to say how good it is. The current tiff has deep roots but the immediate problem concerns — what else? — oil, where the US and Saudi Arabia have been pulling in opposite directions. President Joe Biden . . […]

In the Putumayo region of the Colombian Amazon, Segundo Meneses’ daily routine took him to the Chufiya river, its banks verdant and waters alive with catfish and piranha. On one morning seven years ago, he noticed a dark film lapping the shore. Where the river turned a bend, it turned to black. It was an […]

WSJ News Exclusive World Cap will only apply to the first point of sale of Russian oil that takes place on land, U.S. and its allies have determined Source link

By Timothy Gardner and Ismail Shakil WASHINGTON (Reuters)—The U.S. Department of Energy on Thursday said it sold 15 million barrels of oil from the Strategic Petroleum Reserve to six companies, completing the last batch of the largest-ever release from the stockpile announced by President Joe Biden in March. The contracts were awarded to Phillips 66, […]

WASHINGTON, Nov 3 (Reuters) – The United States on Thursday issued sanctions against an international oil smuggling network it accused of supporting Hezbollah and Iran’s Quds Force, as Washington seeks to increase pressure on Tehran. The U.S. Treasury Department in a statement said it designated members of the network that facilitated oil trades and generated […]

SINGAPORE, Nov 2 (Reuters) – Oil prices rose more than 1% on Wednesday after industry data showed a surprise drop in U.S. crude inventories, suggesting demand is holding up despite steep interest rate hikes dampening global growth. Brent crude futures rose $1.13, or 1.2%, to $95.78 a barrel at 0441 GMT, while U.S. West Texas […]

An aerial view of Phillips 66 oil refinery in the United States. Tayfun Coskun | Anadolu Agency | Getty Images Oil prices rose in early trade on Wednesday after industry data showed a surprise drop in U.S. crude stockpiles, suggesting demand is holding up despite steep interest rate hikes dampening global growth. Brent crude futures […]

Comment on this story Comment Narendra Modi is spending billions of dollars on self-reliance. On roads and in factories, the Indian prime minister’s slogan translates to generous subsidies for homemade electric-vehicle batteries, solar panels and green hydrogen — anything that can help cut an outsized dependence on Middle Eastern crude oil. There is, however, another imported oil the […]


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