Brent oil traders use little known rule to reroute US cargoes
Big energy merchants trading oil cargoes that form the basis of the Brent benchmark have used an obscure clause to reroute US shipments from Europe, in a practice that raises…
Global oil markets weaken as sluggish demand leaves overhang
Global physical crude oil markets are weakening because of soft refinery demand and ample supply, traders and analysts told Reuters, in a move that could spell further weakness for benchmark…
Heavy oil shortage spells higher cost for shippers, road builders
Mexican export cuts and a rerouting of Canadian output are shrinking already limited supplies of heavy crude in the Atlantic basin, driving up refiners’ costs with a likely knock-on effect…
Global oil disaster?
On October 19, 1973, immediately following the Nixon administration’s affirmation of a $2.2 billion military aid package to Israel in the aftermath of the Yom Kippur War, Arab states responded…
Markets roll back fears of big ground invasion
A recent Bloomberg report notes: Asked on Friday whether Israel should delay the ground operation, President Joe Biden told reporters “Yes.” However, the White House later clarified that the president…
Russian oil price cap under growing scrutiny as prices rise
When the West rolled out its unprecedented price cap on Russian oil late last year, it hoped to starve Moscow of much-needed revenue while minimising the impact on other countries.…
Gas crisis fears recede for now as Europe stockpiles
With prices falling and ports clogged with liquefied natural gas tankers, fears of a winter heating crisis in Europe have eased but experts are warning against complacency. For over a…
Oil prices fall but inflation stays high
Oil prices have dropped by a quarter since June and could fall further if a nuclear deal is reached with Iran as it would bring more crude to the market,…
Oil price rise
There are two recent and important developments that are worth discussion. Firstly, petrol prices were increased on 1st July once again — the 4th rise in the last 35 days…
An oil shock is coming, but the US may have already paid for it
The gusher of money the U.S. government poured into family bank accounts during the coronavirus pandemic, credited with speeding the rebound from the health crisis, may now help limit the…
