United States Oil Fund Lp ETF News

Info via Reuters: Total output in the major U.S. shale oil basins will rise 109,000 bpd to 8.707 million bpd in March, the most since March 2020 There is much more detail at that link above. Its not all good news though: productivity in the biggest oil and gas basins has declined since h

Crude oil futures fell in mid-morning trade in Asia Feb. 15, giving up some gains after rising by more than $5/b over the last two days, as risk appetite eased slightly after repeated US warnings of an imminent Russian invasion of Ukraine. At 10:02 am Singapore time (0202 GMT), the ICE April Brent futures contract was down 35 cents/b (0.36%)…

* Hedge funds take oil profits as inflation fears intensify * Tight oil market could see prices hit $125 in Q2, JP Morgan says * Ukraine''s Zelenskiy declares ''day of unity'' for Feb 16 * IEA chief presses OPEC+ on meeting stated supply…

Drivers in Australia are facing more pain at the petrol bowser as crude oil prices hit a seven-year high. Escalating tensions between Ukraine and Russia is partly behind the price rises combined with ongoing COVID supply chain disruptions. NRMA’s Peter Khoury says the record high petrol prices will continue to rise. “The forecast, unfortunately, isn’t much better,” Mr Khoury told Sky News Australia. He said the best thing for motorists to do is some research before filling up petrol to find the best prices amid high prices. “There are things that motorists can do here in Australia, depending on where you live to help you kind of steer away from the most expensive service stations,” he said.

NEW YORK: Oil eased on Monday from its highest in more than seven years as Ukraine hinted at possible concessions to Russia that could alleviate tensions between the two countries that Western governments say are on the brink of war.Brent crude rose 5 cents to $94.49 a barrel, after touching its…

The House of Representatives Ad Hoc Committee on the State of Refineries in Nigeria would invite top Government, NNPC officials, and petroleum stakeholders to investigate the inability of the country to refine its crude oil. The Ad Hoc Committee inaugurated on February 3, 2022, began an investigation of the current state of the country’s four refineries and the amounts spent on the ‘Turn-Around Maintenance’ of the national assets. Chairman of the committee, Ganiyu Johnson, after the inauguration of the panel, disclosed that stakeholders in the petroleum sector would soon begin to appear before the lawmakers. According to reports, the Government officials listed to appear before the committee include; the Minister of Finance, Budget and National Planning, Zainab Ahmed; Minister of Justice and Attorney-General of the Federation, Abubakar Malami (SAN); and Minister of State for Petroleum Resources, Timipre Sylva. The committee also listed the Accountant-General of the Federation, Ahmed Idris; Auditor-General of the Federation, Adolphus Aghughu; and the Director-General, Budget Office, Ben Akabueze.

U.S. equity futures slumped lower Monday, while Treasury bond prices jumped and oil re-asserted its recent seven-year highs, as investors heeded warnings from the White House that Russia could be preparing an invasion of Ukraine as early as this week.

Following the market disruption to the supply chain of Premium Motor Spirit (PMS) and the nationwide long queues that greeted the importation of millions of dirty fuel from Europe into Nigeria, Mele Kyari, the group managing director/CEO, Nigerian National Petroleum Company (NNPC) Ltd, has reassured Nigerians that the NNPC is working to curtail the situation, He stated that that the current challenges with supply of the product across the country, “is within our control”. Kyari stated this over the weekend at the birthday, book launch and retirement party of Johnson Awoyomi, the outgoing Managing Director of the National Engineering and Technical Company (NETCO), a subsidiary of the NNPC. Kyari, who was the chief launcher, said the imported off-spec products have been contained, while loading and distribution to filling stations was ongoing. According to Kyari the books were very vital to operators in the industry as they provided solutions to some of the current challenges in the oil and gas sector.

The Reserve Bank''s inflation projections, Das said, are "robust" but contingent on downside and upside risks associated with the movement of global crude oil prices

The AA has said that petrol jumped to 148.02p per litre on Sunday, rising above the previous record high of 147.72p from November 21.

The AA has said that the average petrol prices in the UK have surpassed 148p/litre (176 euro cents) for the first time, rising above the previous record high of 147.72p/litre (175 euro cents) on 21 November last year. The new high piles further pressure on already stretched motorists who have faced a string of price [] The post Average UK petrol and diesel prices hit record high appeared first on Euro Weekly News Spain .

Fears for energy security are driving MPs back towards fracking and oil.

BASRA/LONDON: A $27-billion deal between France''s Total and Iraq, that Baghdad hoped would reverse the exit of oil majors from the country, has stalled amid disputes over terms and risks being scrapped by the country''s new government. Iraq has struggled to attract major fresh investments into its energy industry since signing a flurry of post US-invasion deals over a decade ago. The Iraqi government has cut oil output targets repeatedly as international oil companies that signed those initial deals leave due to poor returns from revenue sharing agreements. Total agreed last year to invest in four oil, gas and renewables projects in the southern Basra region over 25 years. The deal, signed by Iraq''s oil ministry in September 2021 followed a visit from French President Emmanuel Macron. The ministry, however, did not have agreement on the deal''s financial details with all the government departments that needed to approve it, three Iraqi oil ministry and industry sources involved or familiar with the negotiations told Reuters, and it has been mired in disputes ever since.

The price of fuel at the pump has risen with petrol at 148.02p a litre and diesel at 151.57p.

(Repeats with no changes to the text, adds reporting credit) CAIRO, Feb 14 (Reuters) - The International Energy Agency''s (IEA) chief Fatih Birol urged the OPEC+ group of oil producers to close the gap between its words and its actions, as prices on…