United States Oil Fund Lp ETF News

Indian Oil Corp will no longer accept cargoes of Russian crude oil and Kazakh CPC Blend cargoes on a free-on-board basis due to insurance risk

The U.S. and its allies are considering a coordinated release of around 60 million barrels of oil from their stockpiles after Russia’s invasion of Ukraine pushed crude prices above $100, according to three people familiar with the matter.

by Peter Graff (Reuters) Buyers of Russian oil have faced massive difficulties over payments and availability of ships after imposition of Western sanctions against Moscow over Ukraine, traders said on Monday….

Community and environmental groups say the state should start moving half the industry’s workforce out of oil fields, refineries and plants now to meet California’s goal of cutting 40% greenhouse gas emission by 2030.

President Muhammadu Buhari says rising crude oil prices present a great opportunity for Nigeria, especially with the passage of the Petroleum Industry Act (PIA). Buhari, who is also the Minister of Petroleum Resources, said this on Monday in Abuja, while declaring open the 5th Nigeria International Energy Summit (NIES). The summit has as its theme: […] The post Buhari: What rising oil prices mean for Nigeria appeared first on . .

The letter was sent on Monday to traders who submit cargo offers into IOC''s regular crude oil buy tenders.

Refiners across the world are turning away from buying Russian crude amid uncertainty about the impact of tightening sanctions following Russia''s invasion of Ukraine. While there have been no sanctions announced so far directly on oil trade with Russia, the US, Canada and Europe have blocked some Russian banks from accessing the SWIFT international payment system, among a package of…

The surge in oil prices and a clutch of positive technical signals suggest energy stocks could continue to stay ahead of the wider equity market.

Oil Prices ''Dip'' On IEA SPR Release, OPEC+ Output Headlines As expected, OPEC+ delegate sources are being reported as confirming the cartel will boost output by 400k bbl/day. Additionally, it is being reported that IEA members have agreed to release 70 million barrels from their strategic stockpiles in an effort to balance the extreme tightness (seen in the record backwardation) in the energy markets, which has been exacerbated by Russian sanction threats. The reaction was muted to say the least as WTI dipped less than $1… At current levels, US gas prices will be north of $3.70 within a week on their way to $4 soon... As a reminder, gas prices have done nothing but rise, despite the relative collapse in the US SPR... So what will be different this time? Tyler Durden Mon, 02/28/2022 - 08:10

President Muhammadu Buhari says rising crude oil prices present a great opportunity for Nigeria, especially with the passage of the Petroleum Industry Act (PIA). The post Rising crude oil prices great opportunity for Nigeria — Buhari appeared first on The Guardian Nigeria News - Nigeria and World News .

If oil prices stay above $100 a barrel, it shouldn’t require a nudge from the White House to get them to expand production.

THE SECRETARY General of the United Nations has placed oil and gas giants “on notice” after a stark new climate report warned some of the…

Even before Russia invaded Ukraine on Feb. 24, coal and gas prices were already high in 2020 and 2021 compared to 2019. Oil prices were lower in 2020 but increased in 2021. The main reason is high demand for these fossil fuel products compared to supply, despite continuing global narratives of “decarbonization” and “net zero.”

Oil soared as energy and commodity markets were thrown into a state of disarray after Western nations unleashed…

Staff Reporter THE Ministry of Mines and Energy announced a fuel price increase of N$1,20 per litre for petrol and N$1,30 per litre for diesel, which will come into effect on 2 March. The adjustment means new pump prices in Walvis Bay will be N$17,15 per litre for unleaded petrol and N$17,28 per litre for diesel, while fuel prices for the rest of the country will be adjusted accordingly. “The Ministry of Mines and Energy understands and acknowledges the difficulties which may be brought about by these adjustments. However, it is important to emphasize that those factors that contribute to the sharp and continual increases in fuel prices are beyond the control of the Ministry,” the Ministry’s Executive Director, Simeon Negumbo, stated. According to the Ministry, there is a mismatch between global oil supply and demand, which is partly because the Organization of the Petroleum Exporting Countries (OPEC) reduced their supply and is now reluctant to increase it. This, plus the geopolitical tension in oil producing countries, contributed to the increase in fuel prices.