LIMA, Peru—Unusually high waves attributed to the eruption of an undersea volcano in Tonga caused an oil spill on the Peruvian coast, but authorities said Monday the spill was controlled within hours and there’s an ongoing process to clean the area. The Peruvian Civil Defense Institute said in a press release that a ship was…
AT&T, Verizon to Delay Some 5G Deployment; Microsoft to Acquire Activision Blizzard | NTD Business
Microsoft is announcing plans to buy a major video game studio that would make it one of the biggest gaming companies in the world. AT&T and Verizon again agree to delay turning on 5G services at some airports, amid a standoff with the airline industry, which has warned about a “catastrophic” impact on thousands of flights. Oil…
Oil Prices Hit 7-year Highs as Tight Supply Bites
LONDON—Benchmark oil prices climbed to their highest level since 2014 on Tuesday as possible supply disruption after attacks in the Mideast Gulf added to an already tight supply outlook. Brent crude futures rose $1.02, or 1.2 percent, to $87.50 a barrel by 0924 GMT, while U.S. West Texas Intermediate (WTI) crude futures jumped $1.36, or…
West Australian Govt Grants Gas Projects Big Tax Breaks: Think Tank
A think tank has revealed that residents in Western Australia (WA) paid two times more for registering their motor vehicles than the royalties of all gas export projects combined in 2020-21. A report by the Australia Institute thinktank, titled “Gas-fired Robbery,” has outlined that two-thirds of gas export projects paid virtually no tax or royalties…
Oil Edges Higher on Tight Supply, Limited Omicron Impact
Oil prices edged up on Monday as investors bet supply will remain tight amid restrained output by major producers with global demand unperturbed by the Omicron coronavirus variant. Brent crude futures gained 9 cents, or 0.1 percent, to $86.15 a barrel by 0539 GMT. Earlier in the session, the contract touched its highest since Oct….
Begging the Bad Guy for Help
Commentary This is what happens when you don’t understand how the economy works. Or how businesses run. Early this year, at the beginning of the Biden administration’s reign of terror, the president signed several executive orders that reshaped the landscape of the energy industry. Designed to redirect the economy toward a green/renewable energy path (one…
Oil Futures Rise for a Fourth Weekly Gain on a Weaker Dollar
LONDON—Oil futures rose on Friday on course for a fourth weekly gain boosted by supply constraints and a weaker dollar. Brent crude futures rose $1.16, or 1.4 percent, to a two-and-a-half-month high of $85.63 a barrel at 1125 GMT. U.S. West Texas Intermediate crude gained $1.06, or 1.3 percent, to $83.18. Crude prices turned positive…
Oil Holds Near $85/bbl on Stronger Demand Prospects
LONDON—Oil prices steadied near 2-month highs on Thursday, with Brent crude trading near $85 a barrel buoyed by expectations that a strong economic recovery will boost demand, but rising U.S. inventories and high inflation capped gains. Brent crude futures gained 15 cents, or 0.2 percent, to $84.82 a barrel, by 1024 GMT. U.S. West Texas…
Sanction China’s Oil Trade
January 12, 2022
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News Analysis Small refiners in China are evading U.S. sanctions on Iranian and Venezuelan oil exports by using false flags, old tankers, turning off ship transponders, and transferring oil mid-ocean between vessels to hide the origin of illegally-exported oil. Iran’s crude oil sales, which jumped 40 percent in 2021, are primarily purchased by China—Iran’s biggest…
Oil Prices Shrug Off Omicron Slump, Soar to 2-month Highs
LONDON—Oil prices hit two-month highs on Wednesday on tight supply and easing concerns about the potential hit to demand from the Omicron coronavirus variant. Federal Reserve Chairman Jerome Powell said on Tuesday the economy of the United States, the world’s biggest oil consumer, should weather the current COVID-19 surge with only “short-lived” impacts and was…
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