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Crude Oil

World Bank: Energy Prices Set to Decline in 2023 After Sharp Rise in 2022

The World Bank has predicted that energy prices will decline by 11% in 2023 after having surged 60% in the current year following the war in Ukraine.

Natural Gas

EU Edges Towards Gas Price Cap With More Emergency Talks

European Union energy ministers will hold another emergency meeting in November to try to make progress on a bloc-wide gas price cap, after talks on Tuesday lef…

Oil Price

U.S. Oil Companies’ Cash Flow to Rise by 68% Per Barrel in 2022 - Deloitte

U.S. upstream oil companies are expected to bank 68% higher free cash flows per barrel produced in 2022 as surging prices fuel profits, while output growth ling…

Natural Gas

EU Countries Look to Map Out Path to Gas Price Cap

European Union energy ministers will discuss a bloc-wide gas price cap on Tuesday, attempting to navigate their next steps although it is likely to be weeks bef…

Natural Gas

Wave of LNG Tankers Is Overwhelming Europe in Energy Crisis and Hitting Natural Gas Prices

60 liquified natural gas vessels are slow sailing or anchored around Northwest Europe, the Mediterranean, and the Iberian Peninsula, according to MarineTraffic.…

Oil Price

Portugal’s Galp Quarterly Profit up 16% On Higher Oil Prices, Better Margins

Portuguese oil and gas company Galp Energia reported a 16% increase in adjusted third-quarter profit on Monday, thanks to soaring oil prices and a near-doubling…

Natural Gas

Germany Evaluating if Consumer Gas Price Brake Can Be Brought Forward

German finance minister Christian Lindner said on Sunday it was not yet clear whether a gas price brake for consumers and small businesses planned from March co…

Oil Price

Goldman: U.S. SPR Crude Releases to Have Modest Price Influence

The Biden administration's plan to continue releasing the Strategic Petroleum Reserves (SPR) "as appropriate" to bring down retail rates poses limited downside …

Oil Shale

Shale Firms Discount 'U.S. Put' as Inadequate to Lift Oil Output

U.S. shale oil executive Matt Gallagher this week took a poll on Twitter to gauge sentiment toward President Joe Biden's offer to stock the U.S. emergency oil r…

Oil Refinery

Exxon Shares Surge to Record High on Strong Earnings Outlook

Exxon Mobil Corp shares passed their all-time high on Friday as oil prices resumed their climb and analysts raised their long-term views of top U.S. oil produce…

Natural Gas

Hungary Will Not Agree to EU Gas Price Cap, Will Need Exemption

Hungary will not agree to an EU price cap on imported gas because it would end Russian deliveries, a senior aide to Prime Minister Viktor Orban said, adding tha…

Natural Gas

EU Leaders to Keep Studying Gas Price Caps

European Union leaders ended another debate on the bloc's response to the energy crunch without agreement on whether to cap gas prices, deciding in the early ho…

Oil Price

US to Release an Extra 15M Barrels of Oil Amid Skyrocketing Prices

US officials have hinted at more releases if prices continue to surge.

Hydrogen Production

High Gas Prices Spur Green Hydrogen Investment -Report

Soaring natural gas prices have made hydrogen produced from fossil fuels increasingly uneconomic and spurred more than $70 billion of new investment in hydrogen…

European Renewable PPA Prices up 51% In Third Quarter

Solar PPA prices rose almost twice as much as wind prices, new report suggests.