A discussion at the conservative Heritage Foundation gave rise to searching questions about President Joe Biden’s recent moves to ease restrictions on Cuba and Venezuela—including its actions to step up Venezuelan oil production. “At a time when the Biden administration is restricting domestic energy, he’s giving the [Venezuelan] dictator [Nicolas] Maduro the green light,” said…
Experts Criticize Biden’s Changing Policies For Cuba and Venezuela
June 1, 2022
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Oil Firms on EU’s Russian Oil Ban and End of Shanghai Lockdown
June 1, 2022
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LONDON—Oil prices firmed on Wednesday after European Union leaders agreed to a partial and phased ban on Russian oil and as China ended its COVID-19 lockdown in Shanghai. Brent crude was up $1.71, or 1.5 percent, at $117.31 a barrel by 0817 GMT. U.S. West Texas Intermediate (WTI) crude rose $1.67, or 1.5 percent, to…
Today’s Energy Crisis Worse Than Oil Shocks of 1970s, Could Last Longer: IEA Chief
Russia’s invasion of Ukraine has roiled energy markets, with long-term implications for global oil and gas supplies, and the head of the International Energy Agency (IEA) has cautioned that the current energy crisis is “much bigger” and could persist longer than the oil shocks of the 1970s. In the 1970s, there were two significant oil…
Oil Bull Run Continues as EU Agrees to Ban Most Russian Oil
May 31, 2022
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LONDON—Oil prices extended a bull run on Tuesday after the EU agreed to a partial and phased ban on Russian oil and China decided to lift some coronavirus restrictions amid rising demand ahead of the peak U.S. and European summer driving season. Brent crude for July, which expires on Tuesday, rose $2.11, or 1.7 percent,…
Murkowski ‘Chief Enabling Officer’ of Biden Agenda: Kelly Tshibaka
May 28, 2022
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Kelly Tshibaka, the Republican candidate for Sen. Lisa Murkowski’s (R-Alaska) seat endorsed by Trump, claimed Murkowski’s vote confirming Deb Haaland as Interior Secretary has weakened Alaska, contributing to skyrocketing gas prices and foreign dependence by impeding the production of oil, gas, rare earths, and other vital commodities. “Who’s directing this assault on us? Joe Biden….
Oil on Track for Weekly Rise Amid Global Supply Concerns
LONDON—Oil prices edged lower on Friday but were on track for weekly gains, supported by the prospect of a tight market due to rising gasoline consumption in the United States in summer, and also the possibility of an EU ban on Russian oil. Brent crude was down 20 cents, or 0.2 percent, at $117.20 at…
Oil Climbs on Tight Supply, Prospect of EU Ban on Russian Supply
LONDON—Oil prices rose on Thursday, extending a cautious rally this week on signs of tight supply while the European Union (EU) wrangles with Hungary over plans to ban imports from Russia, the world’s second-largest crude exporter, after it invaded Ukraine. Brent crude futures gained 87 cents, or 0.8 percent, to $114.90 a barrel at 1001…
Oil Edges Higher on Tight Supply and Expected Demand Uplift
LONDON—Oil prices rose on Wednesday, buoyed by tight supplies and the prospect of rising demand from the summer driving season in the United States, the world’s biggest crude consumer. Brent crude futures for July rose for a fifth session running, gaining $1.69, or 1.5 percent, to $115.25 a barrel by 0940 GMT. U.S. West Texas…
Biden: Rising Gas Prices an ‘Incredible Transition’
President Joe Biden appeared to try to put a positive spin on skyrocketing gas prices Monday while taking questions from reporters during his trip to Japan. When asked about the economy, inflation, and the record prices Americans continue to pay at the pump, Biden characterized the increased cost of gasoline as an “incredible transition.” “When…
Cargoes of Russia’s Flagship Crude Oil at Sea Climb to Record High
Some 62 million barrels of Russia’s flagship Urals crude oil, a record amount, are sitting in vessels at sea, data from energy analytics firm Vortexa showed, as traders struggled to find buyers for the crude. The United States and other countries have banned imports of Russian crude and oil products over its invasion of Ukraine,…
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