Crude oil rose on Tuesday following the latest strike by Yemen’s Houthis on a container ship in the Red Sea and retained the gain when trade began today as well. Yesterday, crude oil booked its biggest gain in over a week, according to Bloomberg, following the news that the Houthis had struck a container vessel owned by.
Crude oil prices were trading slightly down on Friday afternoon, just hours before the weekend and the Christmas holiday, reasonably unaffected by Angola’s decision to quit OPEC. The price of a barrel of WTI was trading at $74.03, $0.07 down on the day, or a 0.09% dip. Last year, the Friday before Christmas saw WTI.
Potential contract cancellations for the construction of ice-class LNG carriers and U.S. sanctions on the latest Russian LNG export project could hamper Russia’s plans to boost LNG sales now that its pipeline route to Europe is largely cut off. There aren’t enough ice-class LNG tankers built to carry LNG from the Arctic LNG 2 project.
India will increase the size of its thermal power fleet, the country’s power minister said, to meet an increased demand for power. India said it would add another 88GW of new power capacity by early 2032—63% more than India’s plan that it published just seven months ago. And most of that will be coal-fired power,.
Several cargoes of LNG loaded in recent days at U.S. export facilities and bound for Asia have changed course shortly after departing to avoid crossing the Red Sea, which has become theater of daily attacks on commercial vessels by the Iran-aligned Houthis from Yemen. Several vessels have indicated they would not transit the Suez Canal.
Russia is planning to scale back oil exports from its sea ports next month by between 100,000 and 200,000 barrels per day compared to December levels, according to industry sources familiar with Russia’s export plans. The reason for the scaleback, the anonymous sources told Reuters, is increased throughput at its own refineries. Kpler pegged Russia’s.
Chinese lenders arranged three-fourths of all the $120 billion in global financing for coal projects last year, new research from BloombergNEF showed on Wednesday. Chinese banks accounted for a massive 76%, or $93 billion, of the arranged financing for coal projects last year, followed by U.S. banks, which were at a distant second with $10.
Russia has increased significantly its crude oil exports to China and India this year, with volumes to China hitting 100 million tons annually, or around 2 million barrels per day, Nikolay Tokarev, the head of Russian oil pipeline monopoly Transneft, told Russian media on Wednesday. “Export volumes to China and India have increased significantly; many.
Russian crude oil shipments continued to increase on a four-week average basis, despite maintenance work that reduced flows out of the port of Primorsk on the Baltic Sea last week, tanker-tracking data monitored by Bloomberg showed on Tuesday. Russian crude oil exports from its ports averaged around 3.28 million barrels per day (bpd) in the.
UAE’s Mubadala Energy announced a natural gas discovery in an offshore block in Indonesia. The discovery, analysts say, is the second-largest deepwater gas find this year, Reuters reported. In a statement, the company said the discovery was made in the South Andaman area, around 100 km offshore of North Sumatra. The exploration well Mubadala Energy.
