LONDON/SINGAPORE (Reuters) – Crude oil prices rose on Monday following a weekend attack on a Saudi oil facility by Yemeni separatists and as traders looked for signs that Sino-U.S. trade tensions could ease. Price gains were, however, capped to some degree by ... More »
SINGAPORE (Reuters) – China National Petroleum Corp, a leading buyer of Venezuelan oil, has halted August loadings following the latest set of U.S. sanctions on the South American exporter, two Beijing-based senior sources with direct knowledge of the matter t... More »
SINGAPORE (Reuters) – Royal Dutch Shell is launching electric vehicle chargers at petrol stations in Singapore, its first such foray in Southeast Asia, the company said on Monday. The electric vehicle charging service, ‘Shell Recharge’, will be available at 10... More »
SEOUL (Reuters) – Oil prices edged lower on Monday amid worries about an economic slowdown and the Sino-U.S. trade war, which have led to a cut in the growth outlook for global oil demand. International benchmark Brent crude futures were at $58.40 a barrel by ... More »
WASHINGTON (Reuters) – The Trump administration on Friday unveiled a proposal that would curb state powers to block pipelines and other energy projects, part of the Trump administration’s effort to boost domestic oil, gas and coal development. The U.S. Environ... More »
LONDON (Reuters) – Oil prices rose slightly on Monday as Chinese industrial output and retail data topped expectations but gains were capped by overall figures showing the country’s slowest quarterly economic growth in decades. The positive Chinese data may in... More »
SINGAPORE/BEIJING (Reuters) – China’s fuel producers are making extended curbs to their output in the third quarter after supply from mammoth new refineries stoked an already-sizeable glut, potentially dragging on crude oil demand from the world’s biggest impo... More »
TOKYO (Reuters) – Crude prices were little changed on Monday as traders weighed geopolitical risks against the impact of the Sino-U.S. trade war on the global economy, although last week’s better-than-expected U.S. jobs data offered some supprt. Brent crude fu... More »
CARACAS (Reuters) – Venezuela’s opposition will meet with representatives of President Nicolas Maduro’s government in Barbados for talks mediated by Norway, the parties involved said on Sunday, as part of efforts to resolve an ongoing political crisis. Opposit... More »
VIENNA (Reuters) – OPEC and its allies look set to extend oil supply cuts this week at least until the end of 2019 as Iran joined top producers Saudi Arabia, Iraq and Russia in endorsing a policy aimed at propping up the price of crude amid a weakening global ... More »
LONDON (Reuters) – Oil prices rose over $2 a barrel on Monday as OPEC and its allies looked on track to extend supply cuts until at least the end of 2019 at their meeting in Vienna this week. Front-month Brent crude futures touched an intraday high of $66.75 a... More »
TOKYO (Reuters) – Oil prices rose on Monday to extend gains from last week, bolstered as tensions remain high between Iran and the United States after U.S. Secretary of State Mike Pompeo said “significant” sanctions would be announced on Tehran. Brent futures ... More »
TOKYO (Reuters) – Oil prices fell for a second day on Tuesday on signs that global economic growth is being hit by the U.S.-China trade war, although losses were limited by tensions in the Middle East after last week’s tanker attacks. Brent crude futures were ... More »
PARIS (Reuters) – Energy major Total said its new supercomputer – which has propelled it to a world ranking as the most powerful computer in the sector – will enable its geologists to find oil faster, cheaper and with a better success rate. The Pangea III comp... More »
(Reuters) – Saudi air defenses intercepted two Houthi drones, one of them targeting a residential area in the southern city of Abha, the Saudi press agency said on Tuesday, citing the Saudi-led coalition. Al Masirah TV, citing a military spokesman, said on Mon... More »
WASHINGTON (Reuters) – The United States is preparing to send additional troops to the Middle East in response to mounting concerns over Iran, which Washington blames for attacks on oil tankers last week, two U.S. officials told Reuters on Monday, speaking on ... More »
WASHINGTON (Reuters) – The U.S. military on Monday released new images it says showed Iran’s Revolutionary Guard (IRGC) removing an unexploded limpet mine from a Japanese-owned tanker that was attacked on June 13 in the Gulf of Oman, as Washington blames Tehra... More »
NEW YORK (Reuters) – Oil prices fell more than 1% on Monday after more poor Chinese economic figures fanned fears of lower worldwide oil demand. Brent crude futures lost $1.07 to settle at $60.94 a barrel, a 1.73 percent loss. U.S. West Texas Intermediate (WTI... More »
SINGAPORE (Reuters) – Oil prices rose on Monday after Saudi Arabia said producer club OPEC and Russia should restrict supplies to current levels, while Washington’s withdrawal of a tariff threat against Mexico removed a cloud over the global economy. However, ... More »
SINGAPORE/BEIJING (Reuters) – China’s crude oil imports slipped 8% in May from an all-time peak hit the month before, customs data showed, as the world’s top importer of the commodity curbed shipments from Iran amid tightening U.S. sanctions on that country. C... More »
LONDON (Reuters) – Investment banks are beefing up trading teams in markets such as gas, metals and carbon permits that are flourishing as businesses and economies become greener, according to recruitment consultants. The shift in staffing at the world’s bigge... More »
SINGAPORE (Reuters) – Oil prices fell more than 1% on Monday, extending losses of over 3% from Friday, when crude markets slipped to their biggest monthly losses in six months amid stalling demand and as trade wars fanned fears of a global economic slowdown. F... More »
SINGAPORE (Reuters) – Renewable energy investment in the Asia-Pacific region will overtake spending on oil and gas exploration by 2020, consultancy Rystad Energy said on Monday. Total capital expenditure in renewables will rise above $30 billion in the region ... More »
SINGAPORE (Reuters) – Oil prices fell on Monday, extending losses from last week when crude dropped the most this year on concerns the Sino-U.S. trade war could trigger a broad economic slowdown, although OPEC’s supply cuts provided some support. U.S. West Tex... More »
BEIJING (Reuters) – China’s foreign ministry said on Monday the country will never surrender to external pressure after Washington renewed its threat to impose tariffs on all Chinese imports in an escalating trade dispute. The trade war between the world’s top... More »
DUBAI/LONDON (Reuters) – Saudi Arabia said on Monday that two Saudi oil tankers were among vessels targeted by a “sabotage attack” off the coast of the United Arab Emirates, condemning it as an attempt to undermine the security of global crude supplies. The UA... More »
BEIJING (Reuters) – China’s foreign ministry said on Monday the country will never surrender to foreign pressure after Washington renewed its threat to impose tariffs on all Chinese imports in an escalating trade dispute. Foreign ministry spokesman Geng Shuang... More »
SANTANDER, Spain (Reuters) – A Saudi ship, prevented by rights groups from loading an arms cargo at the French port of Le Havre on Friday, arrived at the Spanish port of Santander early on Monday. It was not clear what the Saudi ship was doing in Santander or ... More »
BEIJING (Reuters) – China’s door to talks with the United States about their trade dispute is always open, but China will not yield on important issues of principle, state media said on Sunday. There are no winners in a trade war, and China does not want to fi... More »
BEIJING (Reuters) – China’s foreign ministry said on Monday a Chinese delegation is preparing to go to United States for trade talks, after U.S. President Donald Trump said he would raise tariffs on $200 billion worth of Chinese goods this week and target hund... More »
SINGAPORE (Reuters) – Oil prices tumbled on Monday after U.S. President Donald Trump said he would sharply hike tariffs on Chinese goods this week, risking the derailment of trade talks between the world’s two biggest economies. U.S. West Texas Intermediate (W... More »
BEIJING (Reuters) – China Vice Premier Liu He could still travel to the United States for trade negotiations but shorten his trip or cancel it altogether, South China Morning Post reported on Monday, citing an unnamed source briefed on the latest plans. In an ... More »
SINGAPORE (Reuters) – Oil prices jumped on Monday as the United States looked set to announce that all buyers of Iranian oil must end their imports or be subject to sanctions. Brent crude futures rose as much as 3.3 percent to $74.31 a barrel, the highest sinc... More »
WASHINGTON/SINGAPORE (Reuters) – The United States is expected to announce on Monday that buyers of Iranian oil need to end imports soon or face sanctions, a source familiar with the situation told Reuters, triggering a 3 percent jump in crude prices to their ... More »
SINGAPORE (Reuters) – Oil prices slipped on Monday, with concerns of a sharp economic slowdown outweighing supply disruptions from OPEC’s production cutbacks and from U.S. sanctions on Iran and Venezuela. Brent crude oil futures were at $66.73 per barrel at 07... More »
NOVOVOLYNSK, Ukraine (Reuters) – Ukrainian police are investigating two companies and a factory over a coal deal which some anti-corruption campaigners say epitomizes the difficulties of doing business in the east European country. The sums involved in the dea... More »
DEER PARK, Texas (Reuters) – Hundreds of neighborhood residents of a petrochemical plant that burned for three days and briefly emitted cancer-causing benzene into the air brought their coughs, headaches and other symptoms to a mobile clinic on Friday set up b... More »
PARIS (Reuters) – The board of French oil and gas major Total has proposed total 2018 compensation for Chief Executive Patrick Pouyanne of 3.1 million euros ($3.55 million), compared with 3.8 million in 2017, company documents showed on Wednesday. The total pa... More »
SINGAPORE (Reuters) – Oil prices dipped on Monday amid concerns that an economic downturn may dent fuel consumption, but crude markets remain broadly supported by supply cuts led by producer group OPEC and U.S. sanctions against Iran and Venezuela. Brent crude... More »
DUBAI (Reuters) – Saudi Arabia plans to cut its crude oil exports in April to below 7 million barrels per day (bpd), while keeping its output “well below” 10 million bpd, a Saudi official said on Monday, as the kingdom seeks to drain a supply glut and support ... More »
SINGAPORE (Reuters) – Oil prices rose on Monday, lifted by comments from Saudi oil minister Khalid al-Falih that an end to OPEC-led supply cuts was unlikely before June and a report showing a fall U.S. drilling activity. U.S. West Texas Intermediate (WTI) crud... More »
LAUNCESTON, Australia – If the sharp plunge in China’s exports in February shows anything, it’s that a gap is opening between what the country is shipping out and its still resilient imports of major commodities. Exports dropped 20.7 percent in February from t... More »
SINGAPORE (Reuters) – Oil prices rose on Monday, buoyed by output cuts by producer club OPEC and reports that the United States and China are close to a deal to end a bitter tariff row that has slowed global economic growth. International Brent futures were at... More »
LONDON (Reuters) – Saudi Aramco’s chief executive said on Tuesday the oil industry is facing “a crisis of perception” and the views of some observers that the end of oil is near with the rise of electric vehicles are illogical and not based on fact. Amin Nasse... More »
SINGAPORE (Reuters) – Oil inched lower on Tuesday to extend losses of more than 3 percent from the previous session, easing after U.S. President Donald Trump called on OPEC to rein in its efforts to boost prices. International Brent futures were at $64.70 a ba... More »
(Reuters) – Democratic lawmakers on Monday asked the Environmental Protection Agency’s inspector general to investigate whether two senior agency officials violated ethics rules by helping reverse an enforcement decision against their former client company. Th... More »
SHANGHAI (Reuters) – Chinese state media on Saturday expressed cautious optimism over trade talks between the United States and China, a day after President Xi Jinping said a week of discussions had produced “step-by-step” progress. Xi made the comments at a m... More »
WASHINGTON (Reuters) – U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin are in Beijing this week as Chinese and American negotiators try to hammer out a trade deal to ease a trade war and avert an increase in U.S. tariffs ... More »
LONDON (Reuters) – Royal Dutch Shell widened its lead over Exxon Mobil as king of cash among the world’s top oil and gas companies last year but its U.S. rival could catch up with its investment drive in new production. The five leading firms, known as oil maj... More »
SINGAPORE (Reuters) – Oil prices fell 1 percent on Monday after U.S. companies added rigs for the first time this year, a signal that crude output may rise further, and as China, the world’s second-largest oil user, reported additional signs of an economic slo... More »
BERLIN (Reuters) – Germany’s Economy Minister Peter Altmaier on Monday said that he did not want Germany to compensate for a planned phase out of coal-fired power by 2038 by importing nuclear power from neighboring countries. “We want energy security to be pro... More »
BEIJING (Reuters) – China’s Didi Chuxing said it had set up a joint venture (JV) with Beijing Electric Vehicle Co., a unit of state-owned BAIC, to work on new energy vehicle and artificial intelligence projects. The JV, BAIC-Xiaoju New Energy Auto Technology C... More »
LONDON (Reuters) – Oil slipped to around $60 a barrel on Monday after data showed weakening imports and exports in China, the world’s second-largest oil consumer, raising the prospect of a slowdown in fuel demand. China’s exports fell by the most in two years ... More »
(Reuters) – Newmont Mining Corp said on Monday it would buy smaller rival Goldcorp Inc in a deal worth $10 billion, creating the world’s biggest gold producer in the face of dwindling easy-to-find reserves of the precious metal. The deal, the second high-profi... More »
MOSCOW (Reuters) – Russian Prime Minister Dmitry Medvedev said on Monday that Moscow has never promised Belarus any help over losses incurred due to an overhaul of Russia’s oil tax after Minsk requested compensation. Russia has kept Belarus in its political or... More »
BEIJING (Reuters) – China’s State Grid Corp [STGRD.UL] will invest 38.7 billion yuan ($5.66 billion) to build five pumped hydro storage plants across the country, in an effort to ease the stranded power system amid Beijing’s push to boost clean energy consumpt... More »
SINGAPORE (Reuters) – Oil prices rose by around 1 percent on Wednesday, extending gains from the previous session on hopes that Washington and Beijing may soon resolve trade disputes that have cast a dark shadow over the global economy. U.S. West Texas Interme... More »
WASHINGTON (Reuters) – As a partial U.S. government shutdown neared the three-week mark, Democrats on Wednesday were set to test Republicans’ resolve in backing President Donald Trump’s drive to build a wall on the border with Mexico, which has sparked an impa... More »
WASHINGTON (Reuters) – President Donald Trump urged Congress in a televised speech on Tuesday to give him $5.7 billion this year to help build a wall on the U.S. border with Mexico but stopped short of declaring a national emergency to pay for the barrier with... More »
MEXICO CITY (Reuters) – Super Bowl fans may have to go without guacamole this year if avocado farmers in Mexico cannot send their fruit to the United States because of a prolonged fuel shortage. Like clockwork, Mexican producers ship thousands of tonnes of avo... More »
LONDON (Reuters) – Oil prices rebounded on Friday, recovering slightly from heavy losses this week, but remained close to the lowest levels in over a year as rising U.S. inventories and concern over global economic growth rattled markets. Brent crude oil LCOc1... More »
MEXICO CITY (Reuters) – Mexico’s government unveiled a plan on Thursday to step up use of the armed forces to combat fuel theft, vowing to root out corrupt officials it says are largely responsible for a problem that has cost the country billions of dollars. P... More »
WARSAW (Reuters) – Polish and Lithuanian power grid operators said on Friday they had agreed to build a high voltage direct current (HVDC) underwater cable by 2025 as part of a plan to connect the electricity grids of the Baltic states with those of the Europe... More »
LONDON (Reuters) – Oil fell on Monday, in line with further declines in global stock markets, erasing the gains made last week when producer group OPEC and other key exporters agreed to cut their crude output from January. Brent crude oil futures fell $1.02 on... More »
LONDON (Reuters) – Qatar’s decision to quit OPEC shows the frustration of small producers at the dominant role of a Saudi and Russia-led panel, a top Iranian official said, adding that any supply cuts should come only from countries that had increased output. ... More »
NEW YORK (Reuters) – Oil prices jumped by more than 3 percent on Monday after the United States and China agreed to a 90-day truce in a trade dispute and Canada’s Alberta province ordered a production cut, while exporter group OPEC looked set to reduce supply.... More »
NEW YORK (Reuters) – Brenham Capital Management LP, an energy equities fund manager with about $800 million in assets under management, will shut after two years of losses, its founder said in a letter to investors on Friday. The Dallas-based fund will be liqu... More »
(Reuters) – Oilfield services provider Halliburton Co (HAL.N) on Monday reported a 24 percent increase in quarterly revenue, narrowly beating analysts’ estimates, as higher oil prices sparked a surge in U.S. crude production activity. Halliburton has benefited... More »
(Reuters) – Exxon Mobil Corp and its partners now expect the large Stabroek oil block offshore Guyana to contain about 25 percent more recoverable resources than estimated, they said on Monday. Exxon and U.S.-based partner Hess Corp said more than 4 billion ba... More »
LONDON (Reuters) – Oil prices rose on Monday on worries over supply after tensions worsened between Iran and the United States, while some offshore workers began a 24-hour strike on three oil and gas platforms in the British North Sea. Iranian Supreme Leader A... More »
ERBIL, Iraq (Reuters) – Kurdish security forces killed gunmen who had stormed a government building in the Kurdish city of Erbil on Monday and took hostages in an attack suspected of being carried out by Islamic State, security officials said, Armed with pisto... More »
TOKYO/LONDON (Reuters) – Oil prices rose by over 1 percent toward $79 per barrel on Tuesday due to growing supply outages, with Norway shutting one oilfield as hundreds of workers began a strike and Libya saying its production more than halved in recent months... More »
CALGARY, Alberta (Reuters) – The president of OPEC defended the oil producer group on Monday against U.S. President Donald Trump’s recent demands for higher oil output, saying OPEC does not shoulder the blame. “OPEC alone cannot be blamed for all the problems ... More »
LONDON (Reuters) – Oil slipped below $77 a barrel on Friday, under pressure from higher Saudi production and trade tensions between the United States and China, despite support from oil supply disruptions. Top exporter Saudi Arabia told OPEC it raised oil outp... More »
WASHINGTON (Reuters) – Environmental Protection Agency chief Scott Pruitt, who had been lauded by President Donald Trump for his aggressive efforts to roll back environmental regulations, resigned on Thursday under heavy fire for a series of ethics-related con... More »
LONDON (Reuters) – Oil prices fell on Monday as supplies from Saudi Arabia and Russia rose while economic growth stumbled in Asia amid an escalating trade dispute with the United States. Benchmark Brent crude oil LCOc1 fell $1.24 a barrel to a low of $77.99 be... More »
LONDON (Reuters) – Oil prices rose on Tuesday, supported by Canadian production losses and uncertainty over Libyan exports, but under pressure from climbing OPEC supply and intensifying trade conflicts between the United States and other major economies. Bench... More »
LONDON (Reuters) – BMW (BMWG.DE) is not considering moving production out of Britain because of uncertainty connected to Brexit, the company’s special representative in Britain said on Tuesday. When asked by a reporter at a conference whether the German car ma... More »
LONDON (Reuters) – Uncertainty over Brexit has halved new investment in the British car industry and Prime Minister Theresa May should urgently change tack and keep the world’s fifth largest economy in the EU’s customs union, the country’s main car lobby group... More »
LONDON (Reuters) – Oil prices fell on Monday as U.S. production hit a record high and OPEC members considered boosting supply. Benchmark Brent crude oil LCOc1 lost $1.26 a barrel, or 1.6 percent, to a low of $75.53 before recovering to $75.89, down 90 cents, b... More »
LONDON (Reuters) – Oil rose on Monday, lifted by a rally across stocks and other commodities, after the United States said it had put a possible trade war with China “on hold”. Brent crude futures were up 35 cents at $78.86 a barrel at 0845 GMT, having hit a h... More »
SAO PAULO (Reuters) – Rampant corruption scandals and a deep recession soured many foreign investors on Brazil in recent years, but one Canadian group saw opportunity. Brookfield Asset Management Inc and its subsidiaries have made nearly a dozen major acquisit... More »
NEW YORK/LONDON/SINGAPORE (Reuters) – Oil futures prices have soared past three-year highs, OPEC’s deal has cut millions of barrels of inventory worldwide and investors are betting in record numbers that prices could rocket past $80 and even hit $90 a barrel t... More »
DUBAI (Reuters) – Kuwait will not implement value-added tax before 2021 but will push ahead with introducing excise tax, parliament’s budget committee said in a statement posted on the assembly’s website on Tuesday. “The committee said implementation of value-... More »
OSLO (Reuters) – Shareholders in Norway’s largest company, Statoil (STL.OL), will approve on Tuesday the board’s proposal to drop “oil” from its name as its seeks to diversify its business and attract young talent concerned about fossil fuels’ impact on climat... More »
LONDON (Reuters) – Jim Ratcliffe, the founder and boss of chemical giant Ineos, is the richest man in the United Kingdom, according to the Sunday Times Rich List, first among a record 145 billionaires living in the country. Ratcliffe maintains a relatively low... More »
NEW YORK (Reuters) – U.S. fund managers are barreling into the energy sector by making broad bets on anything connected with oil, finally convinced that gains in crude prices – on track for their fourth consecutive quarterly gain, the longest such stretch for ... More »
SINGAPORE (Reuters) – U.S. oil prices rose above $70 a barrel on Monday for the first time since November 2014 and Brent crude climbed to fresh highs, buoyed as a deepening economic crisis in Venezuela threatened the country’s already tumbling oil supply. The ... More »
HOUSTON/CARACAS (Reuters) – U.S. oil firm ConocoPhillips has moved to take Caribbean assets of Venezuela’s state-run PDVSA to enforce a $2 billion arbitration award over a decade-oil nationalization of its projects in the South American country, according to t... More »
(Reuters) – Marathon Petroleum Corp said on Monday it would buy rival Andeavor for more than $23 billion to form a company that would leapfrog Valero Energy Corp as the largest U.S. refiner by capacity. The cash-and-stock deal values Andeavor at about $152 per... More »
SINGAPORE (Reuters) – Oil prices dipped on Monday after a rising rig count in the United States pointed to higher production there, but markets held near their highest in over three years and remained set for a second straight month of gains. Oil prices were s... More »
SINGAPORE/HONG KONG (Reuters) – Asia’s most externally vulnerable economies – India, Indonesia and the Philippines – have just taken a one-two punch. U.S. 10-year Treasury bond yields US10YT=RR hit 3 percent this week, a level long touted as one to watch for p... More »
(Reuters) – Carmakers have big plans for their next generation of factories: smarter designs, artificial intelligence and collaborative robots building a wide range of vehicles on the same line. The plants will also feature a component they say is the secret i... More »
YEREVAN (Reuters) – Police in Armenia detained three opposition leaders and nearly 200 protesters on Sunday, drawing a rebuke from the European Union after demonstrators demanded newly appointed Prime Minister Serzh Sarksyan quit. Protesters accuse Sarksyan, 6... More »
LONDON (Reuters) – Oil eased on Monday on rising U.S. borrowing costs and the prospect of further output rises after another increase in the weekly rig count, although the overall picture for crude remained bullish. Brent crude futures were down 49 cents at $7... More »
NEW YORK (Reuters) – Investors stormed back into the market for the riskiest corporate debt during the latest week, Lipper data showed on Thursday, pumping the most cash into U.S.-based, high-yield bond funds in over 16 months. The resurgence in demand for hig... More »
LONDON, April 18 (Reuters) – Gene-editing technologies that alter mosquitoes’ DNA could prove critical in the fight against malaria, Bill Gates said on Wednesday, and ethical concerns should not block progress in such gene-modifying research. Speaking at the M... More »
LONDON (Reuters) – Oil recovered some ground on Monday, but prices were still down on the day as investor concern waned about escalating tensions in the Middle East following air strikes on Syria over the weekend. The United States, France and Britain launched... More »
TOKYO (Reuters) – Japanese Prime Minister Shinzo Abe could find his oft-touted close ties with Donald Trump sorely tested at a summit this week in which Tokyo fears the U.S. leader will to try to link vital security matters with touchy trade topics. It is a fr... More »
NANTES, France (Reuters) – Researchers have unveiled what they billed as the world’s first 3D-printed house to serve as a home in the French city of Nantes, with the first tenants due to move in by June. Academics at the University of Nantes who led the projec... More »
