At least a dozen U.S. shale gas executives met on Wednesday with European energy officials to discuss expanding U.S. fuel supplies to Europe amid a scramble to replace Russian imports. The group met in Houston with foreign affairs and economic ministers and commercial buyers looking to reduce their imports of Russian oil, coal, and liquefied…
US Shale Gas, LNG Firms Meet With European Countries Over Supply Crisis
April 7, 2022
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Oil Slips as Kazakh Supply Concerns Ease
March 25, 2022
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LONDON—Oil prices slipped on Friday, with some supply concerns easing after a partial export resumption from Kazakhstan’s CPC crude terminal. Brent crude fell $1.29, or 1.1 percent, to $117.74 a barrel at 1049 GMT and U.S. West Texas Intermediate (WTI) crude slid $1.80, or 1.6 percent, to $110.54 after both had dropped more than 2…
Nutrien to Increase Potash Production Amid Eastern Europe Supply Worries
March 17, 2022
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Canada’s Nutrien Ltd, the world’s biggest fertilizer producer, said on Wednesday it plans to increase potash output by nearly 1 million tonnes this year to about 15 million tonnes in response to the uncertainty of supply from Eastern Europe. Potash is a key input required for producing nitrogen-containing fertilizers, and Russia and Belarus are the…
Oil Surges Amid Warnings of Supply Shortages
LONDON—Oil prices climbed 4 percent on Thursday after the International Energy Agency (IEA) said three million barrels a day (bpd) of Russian oil and products could be shut in from next month and despite the U.S. Federal Reserve’s decision to raise interest rates. The supply loss would be far greater than an expected drop in…
Russia to Spend $9 Billion to Rebuild Supply Chains, Prime Minister Says
March 15, 2022
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Russia plans to spend 1 trillion roubles ($9 billion) on so-called anti-crisis measures, Prime Minister Mikhail Mishustin said on Tuesday, as the government tries to partially offset the impact of fresh western sanctions. The plan includes more than 100 proposals and is to be updated, Mishustin said, to rebuild production and supply chains. ($1 =…
Oil Gains as Spectre of Sanctions on Russian Oil Spurs Supply Worry
March 8, 2022
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LONDON—Oil prices rose on Tuesday, with Brent surging past $127 a barrel, as the possibility of formal U.S. sanctions against Russian oil exports spurred concerns over supply. Benchmark Brent crude futures for May climbed $3.56, or 2.9 percent, to $126.77 a barrel at 11:03 GMT. U.S. West Texas Intermediate (WTI) crude futures for April delivery…
Alberta Oil Can Be a Solution to US Energy Supply Crunch—Minister
March 7, 2022
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HOUSTON—Alberta, Canada’s main oil-producing region, can help alleviate the global oil supply crunch caused by energy disruptions, Alberta energy minister, Sonya Savage, said on Sunday. Alberta has some spare pipeline and rail capacity and can move more oil to the United States, Savage said in Houston ahead of the CERAWeek energy conference by S&P Global….
Aluminium Hits Record Top; Oil, Wheat at Multi-Year Highs on Supply Woes
March 4, 2022
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SINGAPORE—Commodity markets extended their bull runs on Thursday, with aluminium, coal and palm oil all hitting new records while crude oil and wheat scaled multi-year highs as Russia’s invasion of Ukraine disrupted global raw material flows. Russia’s stature as a top supplier in oil, gas, metals, grain and shipping markets has meant that the harsh…
US Manufacturing Activity Regains Speed; Supply Disruptions Loom From Russia-Ukraine Conflict
WASHINGTON—U.S. manufacturing activity picked up more than expected in February as COVID-19 infections subsided, though hiring at factories slowed, contributing to keeping supply chains snarled and prices for inputs high. The Institute for Supply Management (ISM) said on Tuesday the outlook for manufacturing over the next two months was favorable, noting that backlog orders last…
Oil Prices Soar as Ukraine Conflict Stokes Supply Concerns
LONDON—Oil prices surged on Tuesday as concerns over supply disruptions after Russia’s invasion of Ukraine and related sanctions outweighed talks of a coordinated global crude stocks release. May Brent crude futures were up $5.14, or 5.25 percent, to $103.11 a barrel by 1145 GMT. The benchmark touched a seven-year high of $105.79 after the invasion…
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