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Oil Tumbles After Iran Nuclear Negotiator Says "We Are Closer Than Ever To An Agreement" One of the biggest risks cited frequently by Goldman to its bullish oil case, was that the Iran nuclear deal would finally be signed, allowing several more million barrels of oil to hit the global market every day (even though Iran is already selling most of its oil products to China, just not strictly speaking legally). Well, the reason why oil has slumped this afternoon is because Iran''s top nuclear negotiator, Ali Bagheri Kani said on Twitter on Wednesday that "after weeks of intensive talks, we are closer than ever to an agreement; nothing is agreed until everything is agreed, though." Also on Wednesday, France said a decision on salvaging Iran''s 2015 nuclear deal with world powers was just days away and it was now up to Tehran to make the political choice. Indirect talks between Iran and the United States on reviving the tattered agreement resumed last week after a 10-day hiatus. Many have speculated that the Biden administration, which has seen its approval rating plummet as a result of surging inflation and near-record high gas prices, will ram through any deal with Iran in hopes of unlocking the country''s oil output and depressing oil prices…

The White House said Wednesday that it is considering a range of options as fears Russia could invade Ukraine have pushed oil prices to nearly $100 a barrel. “For the president, all options are on the table,” White House press secretary Jen Psaki said, adding the U.S. has been in …

1) The US wants oil prices to be lower 2) Iran can add 500k bpd right away and another 500k bpd by year end That''s the recipe for a deal. There''s been a small further dip in oil prices on these headlines.Kani wrote:After weeks of intensive talks, we are closer than ever to an agreement; nothing is a

https://www.investing.com/analysis/the-energy-report-angry-oil-200618117

During an IEA energy symposium Wednesday, Chief Birol claimed that "very high oil and gas prices are putting a huge burden on economies ..

The Government is blaming oil prices for the energy crisis when the cost per barrel now is less than it was in 2008, the Dáil has been told.

Feb 16, 2022 (Bloomberg) The International Energy Agency urged OPEC and its allies to address a widening shortfall in their oil production as a volatile market sends crude prices rocketing toward $100 a barrel.While fuel consumption is bouncing back from the pandemic, the 23-nation alliance led by Saudi Arabia is struggling to restore output it halted. … Read more

US Industrial Production Jumps As ''Cold Winter'' Sparks Biggest Jump In Utility Demand Ever After an unexpected decline in December, Industrial Production was expected to rebound in January and it did, rising 1.4% MoM (almost triple the 0.5% MoM rise expected). Source: Bloomberg The headline beat in Industrial Production was due almost entirely to the cold winter as the increase of 9.9 percent in the output of utilities in January was the largest in the history of the index (since 1972) and reflected strength for both electric utilities and natural gas utilities. The index for mining rose 1.0 percent. Oil and gas well drilling advanced 6.2 percent; the index in January was nearly 50 percent above its year-earlier level but still about 14 percent below its pre-pandemic reading. However, on the manufacturing side, growth was relatively flat, rising just 0.2% MoM… Source: Bloomberg Finally, Capacity Utilization is back above pre-COVID-Lockdown levels... So, let''s just hope that it remains frigid for the rest of the quarter!!

Oil prices recover losses on Wednesday as investors considered conflicting statements on possible withdrawal of some Russian troops around Ukraine amid tight global supplies and recovering fuel demand

Petrol and diesel prices have hit a new record in the past week, sending a full tank to £81 as tensions continue between the Ukraine and Russia - but what can you do about it? We''re here to help

AMID concern over the steady rise of oil prices as risks of supply gaps persist, Department of Energy…

WASHINGTON: US import prices increased by the most in nearly 11 years in January amid a jump the cost of energy products and strained supply chains, the latest indication that high inflation could persist for a while. Import prices increased 2.0% last month, the largest rise since April 2011, after declining 0.4% in December, the Labor Department said on Wednesday. In the 12 months through January, prices accelerated 10.8% after rising 10.2% in December. Economists polled by Reuters had forecast import prices, which exclude tariffs, advancing 1.3%. The report followed news on Tuesday that producer prices increased by the most in eight months in January. Consumer prices also rose solidly last month, with the annual inflation rate posting its largest increase in 40 years. Supply bottlenecks had shown signs of easing towards the end of 2021, but that progress stalled as COVID-19 cases, driven by the Omicron variant, raged around the globe. US trade deficit ends 2021 with slight increase Imported fuel prices shot up 9.3% last month after decreasing 8.3% in December.

Nigeria, Africa’s top oil producer, is experiencing an acute shortage of fuel, which is causing huge disruption across the country. People are waiting at petrol stations for several hours, some into the night trying to get fuel. The longest queues have been in cities like the capital, Abuja, and the commercial hub of Lagos, at […] The post Fuel queues in Nigeria after dirty petrol quarantined appeared first on The Independent Ghana .

The historic hike in prices of petroleum products has drawn condemnation from opposition parties’ leaders, with Jamaat-i-Islami (JI) chief Siarjul Haq accusing the PTI government of being “indifferent to the sufferings of inflation-hit masses”. The government last night notified an unprecedented increase in the prices of all petroleum products by up to Rs10 to Rs12 […] The post Opposition leaders slam govt’s ‘brutality’ as petroleum prices soar to all-time high appeared first on Asian ThinkTank .

The historic hike in prices of petroleum products has drawn condemnation from opposition parties'' leaders, with Jamaat-i-Islami (JI) chief Siarjul Haq accusing the PTI government of being "indifferent to the sufferings of inflation-hit masses". The government last night notified an unprecedented increase in the prices of all petroleum products by up to Rs10 to Rs12 per litre for the next fortnight ending on Feb 28 "to pass on the impact of higher international oil prices" and application of additional petroleum levy, as committed to the International Monetary Fund (IMF). These are the highest-ever prices of all the products and also perhaps the highest-ever increase in their prices in one go. The government had last increased the petrol prices by Rs 3.01 to Rs147.83 on Jan 15. Haq, the JI head, said his party "will not remain silent on this brutality", adding that the hike was another example of the government''s "brutality" as he threatened a protest march towards Islamabad. A tweet of JI chief Sirajul Haq PPP chairperson Bilawal Bhutto Zardari criticised the rate hike and said the days of the "''selected government are numbered", adding that the citizens will not accept it at any cost.