Proshares K-1 Free Crude Oil Strategy Etf ETF News

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The International Energy Agency’s Net Zero by 2050 roadmap, issued last year, has become something of a textbook example of bad timing. Just four months later, the agency said the world needs more investment in oil exploration because of dwindling OPEC spare production capacity. Besides these mixed signals, the agency also lashed out at OPEC+ last year, accusing it of keeping the global oil supply artificially tight to keep prices high. At first glance, one might think the world’s most influential energy body, per the FT’s Tom…

An oil spill in eastern Ecuador has reached a protected area of the nation’s Amazon rainforest and contaminated a river that supplies water to Indigenous communities, Ecuador’s environment ministry said. Nearly two hectares (five acres) of a protected area of the Cayambe-Coca National Park have been contaminated, as well as the Coca River – one …

A federal court decision could hamper oil and gas companies plans to capture CO2 and store it below the Gulf of Mexico. After bidding on leases along the Gulf coast in November, ExxonMobil was expected to use the areas for carbon storage.

Oil futures climbed Monday, with U.S. prices up over 17% for the month - the largest such rise since May 2020, according to Dow Jones Market Data. Traders remained focused on the potential threat to oil supplies from Russia, which on Monday said the United States was "provoking an escalation" of the situation with Ukraine by falsely charging Moscow with preparing to invade Ukraine, according to a report from The Washington Post. West Texas Intermediate crude for March delivery rose $1.33, or 1.5%, to settle at $88.15 a barrel on the New York Mercantile Exchange. For the month, the front-month contract gained 17.2%. Prices also marked their highest settlement since early October 2014. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Are energy stocks still a buy after their massive performance in 2021?

The average gasoline price in the United States rose for a fifth consecutive week as oil prices rallied and WTI Crude hit $88 per barrel, according to the latest analysis of fuel-savings app GasBuddy. The average national gasoline price was $3.34 per gallon as of Monday, January 31, up by 2.9 cents from a week ago, GasBuddy data compiled from more than 11 million individual price reports covering over 150,000 gas stations showed. The national average is up 6.8 cents from a month ago and 92.8 cents per gallon higher than at this time last year.

Yemi Osinbajo, Vice President of Nigeria has revealed that the government is eyeing the implementation of structural, fiscal, and infrastructure reforms to accelerate the countrys economic recovery post-pandemic. Despite the marginal success achieved 2022 is enveloped with the uncertainty of threats of new variants and increased deglobalization strategies; bold coherent and sustainable economic reforms will be required to sustain growth, Osinbajo said at the Deloittes 2022 economic dialogue on held last Thursday with the theme Sustainable Economic Growth and National Development Agenda. Osinbajo who was represented by Emeka Offor, acting chief executive officer, Nigerian Investment Promotion Commission (NIPC) said Nigeria is quite prepared to participate in the African Continental Free Trade Area (AfCFTA), than other countries in the continent, adding that the president is also interested in seeing the effective and efficient participation of business. The key issue for Nigeria is diversification of its economic base, although we will not drop oil, other sectors like gas will be developed while however, activities in the non-oil sector will increase, he said.

The Norwegian krone has been supported by higher petroleum prices through the latest market turbulence. Economists at Nordea see EUR/NOK trading in a

The governor of a province in eastern Thailand on Saturday declared a state of emergency after an oil slick washed up on a sand beach, shutting down restaurants and shops in a setback for the pandemic-hit tourism industry.Some 20-50 tons of oil are estimated to have leaked on Tuesday night in the Gulf of Thailand from an undersea hosepipe used to load tankers at an offshore mooring point owned by the Star Petroleum Refining Co.The leak was stopped within hours, the company said, but efforts to

The White House is planning to hit Russian banks, government-owned companies and imports with sanctions if Moscow decides to invade Ukraine, according to a new report published Friday.

Crude oil prices rallied sharply as market fears of another COVID-induced hit to demand failed to materialise. Supply-side constraints then sustained

That OPEC’s spare oil production capacity was a problem that was only going to get worse with time became clear last year when the first reports began to emerge that the cartel and its partners led by Russia are not adding as much oil to their monthly output as agreed. Now, the gap between commitment and output has deepened, adding fuel to an already strong price rally. In December, OPEC+ added 253,000 barrels daily to its combined production falling well short of its 400,000-bpd target for yet another month in a growing row. Naturally, this…

The Nigerian National Petroleum Company Ltd has secured a $5billion corporate finance commitment from the African Export-Import Bank to fund major investments in Nigerias upstream sector. As contained in a document jointly signed by the President of Afreximbank, Benedict Oramah, and the Group Managing Director, NNPC Limited, Mele Kyari the pact aims to facilitate energy supply and transition. It states that Afreximbank agreed to enter into a financial advisory and fundraising mandated lead arranger role to raise the sum of $5 billion towards the acquire, invest and operate energy-producing assets in Nigeria. It reads, NNPC limited is seeking to raise $5 billion as corporate finance to fund major upstream investments. Afreximbank agreed to enter into a financial advisory and fundraising mandated lead arranger role to raise the sum of $5 billion towards the acquire, invest and operate energy-producing assets in Nigeria as part of NNPCs growth strategy following its incorporation as a limited liability company.

Talk of $100-a-barrel oil has intensified in recent days, but triple-digit prices may pose a disadvantage for major oil-producing nations that are set to…