Oil prices unphased by Iran’s assault on Israel as Brent turns lower
Oil shrugged off Iran’s unprecedented attack on Israel, with prices easing on speculation that the conflict would remain contained.
brent
Shell’s tax rebates near $750m for decommissioning giant Brent oilfield
Shell (LON: SHEL) has disclosed nearly $750m of tax rebates received from the UK Government for decommissioning its Brent oilfield in the North Sea.
Russia expects oil price to average $80-$85 a barrel in 2024
Russia expects Brent prices to average between $80 and $85 a barrel next year amid OPEC+ output cuts, Deputy Prime Minister Alexander Novak said in a TV interview.
Dumping and derogations: OSPAR rules among top challenges facing UK decommissioning
Operators are waiting years for decisions on the contentious topic of whether they can leave structures in the sea.
Exclusive: UK concedes ground on ‘hazardous wastes’ in Shell Brent legs
It comes as the EU said leaving the thousands of tonnes of oil-sediment contents in place would be “environmentally and socially unacceptable”.
Oil set for weekly loss as China optimism dims, stockpiles swell
Oil headed for a second weekly drop as optimism over a recovery in Chinese demand dimmed and US stockpiles kept rising.
Chinese oil demand faces bumpy road to recovery as Covid curbs ease
Oil demand in China is expected to pick up as the world’s largest crude importer pivots away from its strict Covid Zero policy, although analysts caution that it may take time for gains to kick in.
Oil drops for fourth straight day as demand concerns multiply
Oil fell for a fourth day as warnings from major US banks of a tough outlook for 2023 stoked concern over demand prospects and dented appetite for risk assets including commodities.
Russia to defend revenues in face of price cap
With just days remaining until the European Union imposes a price cap on Russian oil, much uncertainty remains.
Oil retreats to the lowest since 2021 on China’s covid unrest
Oil dropped to the lowest level since December as unrest in China hurt risk appetite and the outlook for demand, adding to stresses in an already-fragile global crude market.
UK in decom spat with EU countries on plan for ‘Brent-light’ North Sea oilfield
The UK is facing opposition from several European nations for its support of Fairfield Energy's plan to leave the huge legs of the Dunlin oilfield in the North Sea.
Oil drops as more rate hikes overshadow tightening fuel market
Oil fell after Federal Reserve Chair Jerome Powell said interest rates will go higher than earlier projected, overshadowing tightening supply.
New questions arise on decom fate for controversial Shell Brent legs
Fresh questions have risen on whether Shell will be allowed to leave the huge legs of the Brent field in the North Sea.
Oil slips as industry report points to jump in US stockpiles
Oil fell as an industry report showed a rise in US crude stockpiles and investors fretted about weaker demand amid slowing growth.
Oil price may sink to low $60s if deep recession hits, RBC forecasts
In a deep-recession scenario, the price of Brent crude oil may sink into the low $60s/bbl by mid-2023, according to RBC Capital Markets, outlining a trio of outlooks while noting that forecasting is challenging at present.
Oil gets mauled again with demand concerns spurring weekly drop
Oil headed for a back-to-back weekly loss, burdened by demand concerns, rising stockpiles, and the possibility the Biden administration may make a fresh release from emergency reserves.
Oil plunges to lowest since January as demand concerns escalate
Oil fell to the lowest since January on concern a global slowdown will cut demand in Europe and the US, just as China’s Covid Zero strategy hurts consumption in the world’s biggest crude importer.
Oil rallies with OPEC+ decision, G-7 cap plan dominating trading
Oil surged on the possibility that OPEC+ may decide to trim production, and as Europe’s energy crisis worsened after the Group-of-Seven nations endorsed a plan to try to cap the price of Russian crude.
Oil holds biggest gain in six weeks with supply risks building
Oil held the biggest gain in more than a month as traders weighed supply concerns, including the possibility of an OPEC+ output cut.
Crude oil heads for 10% weekly collapse as slowdown hits demand
Oil headed for a punishing weekly loss on increasing evidence that a global economic slowdown is spurring demand destruction, with prices collapsing to the lowest level in six months.
Oil drops as concerns over slowdown offset tight crude market
Oil declined at the start of the week as concerns about an economic slowdown overshadowed signs of a tight physical crude market.
Oil set for longest run of declines this year in boost for Biden
Oil is headed for a third weekly drop, the longest run of declines this year, on concerns over weaker US gasoline demand and a global slowdown.
Oil drops below $100 as traders assess weak US gasoline demand
Oil slipped back below $100 a barrel as investors assessed signs of lacklustre US gasoline demand and expanding stockpiles.
Oil holds above $100 as traders weigh tight market, OPEC+ limits
Oil held above $100 a barrel after posting the biggest one-day advance since May as fears of a fast-tightening market gripped traders.
Oil set to end volatile week below $100 on slowdown concerns
Oil is poised to end the week below $100 a barrel for the first time since early April after another volatile period of trading marked by escalating concerns over an economic slowdown.