United States Oil Fund Lp ETF News

Venezuela released at least two jailed U.S. citizens on Tuesday, people familiar with the matter said, in an apparent goodwill gesture toward the Biden administration following a visit to Caracas by a high-level U.S. delegation. One of the freed prisoners was identified as Gustavo Cardenas, one of six Citgo oil executives arrested in 2017 and convicted on charges the U.S. government says were fabricated, the sources said. The other was a Cuban American detained on unrelated charges, they said. The weekend meetings focused not only on the fate of Americans held in Venezuela but on possibly easing U.S. oil sanctions on the OPEC member, a close Russian ally, to fill the supply gap once President Joe Biden banned Russian oil imports in response to Moscow''s invasion of Ukraine. There was no immediate word on the whereabouts of the released detainees. Washington has sought the release of at least nine men, including the so-called "Citgo 6," two former Green Berets and a former U.S. Marine. The U.S. delegation, the highest-ranking to travel to Venezuela in recent years, met with the detainees on Sunday in a Venezuelan prison.

US oil output is expected to return to a near record high averaging 13 million barrels daily by next year, the Energy Information Administration forecast

Global share markets fell on Tuesday as oil prices climbed yet further, driven by the United States banning Russian oil and other energy imports over Moscow''s invasion of Ukraine

Russia Ukraine war live news updates: The United Nations human rights office verifies 1,335 civilian casualties so far in Ukraine, including 474 killed and 861 injured.

Canada could supply the U.S. with a third of the oil that the country usually imports from Russia in the wake of the Biden administration’s ban, Suncor Energy Inc. Chief Executive Officer Mark Little said.

The ASX200 index returned above 7000 points, despite further oil and gas boycotts of Russia which may also slow the global economy.

President Joe Biden proposed an embargo on Russian oil and other energy imports during his White House address in reaction to the invasion… Continue reading on Medium »

Jet fuel and diesel prices could also increase.

Here’s How Surging Oil Prices Shift the Economic Outlook in Asia

''From my perspective, the biggest takeaway is not to panic,'' says Invesco''s chief global market strategist Kristina Hooper, as U.S. oil prices top $123 a…

IOCL, which accounts for nearly half of India''s petroleum products, has a refining capacity of 80.55 MMTPA and over 15,000 kilometer of pipeline network.

Multinational corporations are following the calls to boycott Russia, suspending their operations as the war in eastern Europe continues.

Coal is heading for a short-term comeback as Europe looks to cut its reliance on Russian gas and oil but the Ukraine crisis could hasten decarbonisation on the longer run, according to energy analysts.European Union leaders will meet in Versailles in France on Thursday and Friday to discuss their joint defence policy. They will also agree at the summit to phase out the EU’s dependence on imports of Russian gas, oil and coal, according to Reuters.But it is a tough task as the EU sources about 40…

The UK will phase out imports of Russian oil in response to Vladimir Putin’s illegal invasion of Ukraine by the end of the year.

Saudi Crown Prince Mohammed bin Salman and the UAE Sheikh Mohammed bin Zayed al Nahyan reportedly declined President Joe Biden''s attempted outreach about oil exports.