Oil prices rise amid G7 talks on new Russian sanctions

Crude oil storage tanks at Kinder Morgan Terminal in Sherwood Park, near Edmonton, Alberta, Canada, November 14, 2016. REUTERS/Chris Hellgren Register now to get free unlimited access to Reuters.com Register HOUSTON (Reuters) – Oil prices rose on Monday in a volatile session as investors awaited any moves against Russia’s oil and gas exports that might … Read more

G7 lifts sanctions on Russia, approaches oil price ceiling agreement

G7 announces new sanctions on Russia on Tuesday – US official G7 to work with other countries, the private sector on oil price ceiling Japan tries to lower zero-emission vehicle target from G7 statement Schloss Elmau, Germany, June 27 (Reuters) – The Group of Seven rich democracies will commit on Tuesday to a new, coordinated … Read more

US meets with refineries on high pump prices; No plan yet – sources

US Energy Secretary Jennifer Granholm has expressed interest in a possible lifting of smog-fighting gasoline rules to combat high pump prices and backed away from a plan to ban fuel exports during a wide-ranging meeting with refiners, two industry sources said. Thursday. With tensions rising between US President Joe Biden and Big Oil, the two … Read more

EU signals turn to coal, accuses Russia of ‘rogue steps’ on gas

Pipes are photographed at the land landing facilities of the “Nord Stream 1” gas pipeline in Lubmen, Germany, March 8, 2022. REUTERS/Hannibal Hanschke Register now to get free unlimited access to Reuters.com Register BRUSSELS/OSLO, June 22 (Reuters) – The European Union will temporarily turn to coal to deal with dwindling Russian gas flows without derailing … Read more

Germany faces recession risk as Russia gas crisis deepens

A photo of pipes is taken at the landing facilities of the “Nord Stream 1” gas pipeline in Lubmen, Germany, March 8, 2022. REUTERS/Hannibal Hanschke/File Photo Register now to get free unlimited access to Reuters.com Register More Europeans activate the first phase of gas crisis plans Rising gas prices add to policy makers’ inflation headaches … Read more

Europe may return to coal as Russia rejects gas flows

A photo of pipes is taken at the landing facilities of the “Nord Stream 1” gas pipeline in Lubmen, Germany, March 8, 2022. REUTERS/Hannibal Hanschke/File Photo Register now to get free unlimited access to Reuters.com Register Germany may take ‘painful’ step to ignite coal power Italy and Austria are also looking to burn more coal … Read more

China’s oil imports from Russia may rise to a record high, overtaking Saudi Arabia’s largest oil supplier

Oil and gas tanks at an oil depot in the port of Zhuhai, China, October 22, 2018. (Reuters) / Ali Song Register now to get free unlimited access to Reuters.com Register Russia overtakes Saudi Arabia as the largest supplier after a gap of 19 months Russia imports nearly two million barrels per day in May … Read more

Analysis: Market crash exposes Europe’s divisions

Defeat markets focus on Europe’s Achilles heel The European Central Bank’s attempt to restore confidence that has been curbed by high prices Ministers deadlocked over a ten-year plan to support banks LONDON (Reuters) – A sell-off in the markets brought back memories of the euro zone debt crisis more than a decade ago, highlighting the … Read more

Exclusive: US will allow two companies to ship Venezuelan oil to Europe

HOUSTON/WASHINGTON (Reuters) – Italian oil company Eni SpA and Spain’s Repsol may start shipping Venezuelan oil to Europe as soon as next month to replace Russian crude, five people familiar with the matter said. Debt swaps were halted two years ago when Washington intensified sanctions on Venezuela. One person said that Eni and Repsol are … Read more

Global LNG markets are sailing into the unknown before winter arrives

DAEGU, South Korea, May 26 (Reuters) – Global buyers and sellers of liquefied natural gas are bracing for more uncertainty over Russian supplies and an unclear demand outlook from Europe and top importer China in the run-up to the peak winter season. Industry executives said. Western sanctions on Russia over Ukraine’s invasion have disrupted Russian … Read more