Oil

Crude Oil

Russian Oil Firms Move Bank Accounts to Keep Business Running- Sources

Some Russian oil companies have stopped banking with sanctioned lenders including VTB and Sberbank and switched to those that do not face restrictions, includin…

Energy Transition

Why $100 Oil Could Hurt the Energy Transition More Than It Helps

The surge in crude oil prices past $100 a barrel has raised a big question: Will this latest spike in the notoriously volatile oil market help to speed the glob…

Oil Price

IEA’s Reserves Release Won’t Stop Oil Prices Rising, Says Goldman

The International Energy Agency (IEA)’s decision to release 60 million barrels from emergency oil reserves is not sufficient to meet the supply shortfall cause…

Oil & Gas Supply

Sanctions on Russian Energy ‘on the Table,’ White House Says

The United States is “very open” to imposing sanctions on Russia’s oil and gas industry, White House spokeswoman Jen Psaki said on Wednesday, adding that it …

Crude Oil

Oil Markets Hit Multiple Records as Russia Sanctions Bite, Disrupt Trade Flows

Oil benchmarks are hitting multiple price and spread milestones across several key markets as the fallout from severe sanctions on key exporter Russia sows conf…

Natural Gas

China’s Dual Tariff Plan for Shandong’s Gas-Fired Power to Boost Gas Demand

China’s Shandong province has issued a draft for public comments on the implementation of a two-part on-grid tariff mechanism for local natural gas-fired power…

Natural Gas

Michigan’s Average Gas Prices now $3.55 per Gallon, Experts See ‘Little to No Relief’ amid ‘Perfect Storm’

Michigan’s average gas prices continue to rise amid rising oil prices brought on by Russia’s invasion of Ukraine.

Oil & Gas Supply

ExxonMobil to Exit Russian Oil and Gas Operations Amid Ukraine Crisis

The American energy major is beginning the process to pull out from the Sakhalin-1 venture, in Russia.

Natural Gas

Italy Considers Increasing Natural Gas Supply from Algeria

The latest move by Italy comes as Western sanctions on Russia threaten to disrupt the gas flow.

Crude Oil

Canada Eyeing Russian Oligarch Holdings in its Oil-Rich West

Canada is examining assets of Russian oligarchs and considering more sanctions, Finance Minister Chrystia Freeland said, as Western nations increase pressure on…

Oil & Gas Supply

OPEC+ Makes Modest Supply Hike as Russia Turmoil Lifts Price

OPEC and its allies agreed another modest revival in supplies for April at a low-key meeting that was overshadowed by the market turmoil unleashed by Russia’s …

LNG

Italy Halts Funding for $21 Billion Arctic LNG 2 Project

Italy has halted its share of the financing for the Arctic LNG 2 project, as Western companies and countries continue to sell their stakes in Russian energy pro…

Natural Gas

Europe Can Survive Next Winter Without Russian Gas

Russia’s invasion of Ukraine has highlighted the need for Europe to improve its energy security by reducing its reliance on Russian gas.

Oil Price

OPEC+ Faces Reckoning on Russia Despite Efforts to Ignore Crisis

OPEC+ is doing its best to ignore the war started by one of its leading members, but it may not be able to manage it for much longer.

Oil Price

Oil Soars as Emergency Crude Release Fails to Quell Supply Fears

Oil extended gains after the close as a decision by the U.S. and other major economies to release emergency stockpiles failed to ease concerns of a major shortf…