LONDON—Oil rose in volatile trade on Friday but was still heading for a weekly decline as concern over a potential recession-driven demand downturn outweighed tight global supplies. Central banks are raising interest rates to tame inflation, spurring fears that rising borrowing costs could stifle growth, while mass COVID-19 testing in Shanghai this week stoked fears…
Brent Holds Above $100 in Tussle Between Supply, Recession Fears
LONDON— Oil prices were steady on Thursday after steep losses in the previous two sessions, as investors returned their focus to tight supply even as fears of a global recession persisted. Brent crude futures rose 14 cents, or 0.1 percent, to $100.83 a barrel by 0900 GMT. WTI crude futures climbed 21 cents, or 0.2…
Nigeria’s Barkindo, Who Led OPEC in Turbulent Times, Dies at 63
ABUJA—The secretary general of oil producers group OPEC, Mohammad Barkindo, has died, the boss of Nigerian National Petroleum Corp (NNPC) announced on Wednesday. Barkindo, 63, a veteran of the oil industry, was due to step down at the end of this month after six years in the top job at the Organization of the Petroleum…
Oil Prices Bounce Back From Tuesday Tumble as Supply Concerns Return
KUALA LUMPUR—Oil prices rose as much as nearly 3 percent on Wednesday before paring some gains as investors piled back into the market after a heavy rout in the previous session, with supply concerns returning to the fore even as worries about a global recession linger. Brent crude futures rose as much as $3.08, or…
Biden’s Green New Deal Is Increasing Greenhouse Gases
July 5, 2022
admin
Analysisclimate changefossil fuelsglobal warminggreenhouse gas emissionsgreenhouse gasesNatural gasOilOpinionRenewable Energy
0 Comment
News analysis Here’s an amazing but true statistic. After more than a decade of declining carbon emissions here in the United States, in 2021, President Joe Biden’s first year in office, emissions rose. In other words, not only have Biden’s energy policies been a disaster for our economy and national security as we have become…
Norwegian Oil and Gas Output Falls as Workers Begin Strike
OSLO—Norwegian offshore oil and gas workers went on strike over pay on Tuesday, the first day of planned industrial action that could cut the country’s gas exports by almost 60 percent and exacerbate supply shortages in the wake of the Ukraine war. By Saturday, daily gas exports would be cut by 1,117,000 barrels of oil…
Oil Falls as Recession Fears Boost Demand Concerns
LONDON—Oil prices slipped on Tuesday, reversing earlier gains, as concerns of a possible global recession curtailing fuel demand outweighed supply disruption fears, highlighted by an expected production cut in Norway. Brent crude fell $1.49, or 1.3 percent, to $112.01 a barrel by 1020 GMT. U.S. West Texas Intermediate (WTI) crude fell 15 cents, or 0.1…
Others May Reject Japan Proposal on Oil Price Cap, Kremlin Says
July 4, 2022
admin
Asia & PacificBusiness & Marketscapcommoditieseconomic policiesEuropeJapanMarketsOilpriceRussiaRussia-Ukraine WarUkraineWorld
0 Comment
MOSCOW—Russia needs to wait and see how proposals on capping the price of Russian oil exports are finalized, Kremlin spokesman Dmitry Peskov told reporters on Monday. Commenting on reports that Japan’s Prime Minister Fumio Kishida had proposed a cap at around half the current price, Peskov said that other countries may disagree with that. “This…
Expert: Green Agenda Causing US Power Grid to Be ‘Incredibly Vulnerable’
Every U.S. region could be in danger of having significant power outages this summer as companies try to convert to non-fossil fuel and non-nuclear energy sources, one analyst said. “I think the entire country is incredibly vulnerable, because the entire country is facing a huge energy shortage and I don’t think there is any place…
Oil Steadies as Recession Fears Balance Tight Supply
LONDON—Oil was little changed on Monday as fears of a global recession that would hit demand were balanced by concerns of tight supply amid lower OPEC output, unrest in Libya, and sanctions on Russia. Figures on Friday showed eurozone inflation hit yet another record high in June, firming the case for rapid European Central Bank…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`