Oil prices climbed on Friday, driven by the International Energy Agency’s predictions of unparalleled global demand and shrinking supplies. This surge marked the seventh consecutive week of price gains, the
Record oil demand drives prices up following Saudi reductions.
Amid strong consumption in China and other regions, global oil demand has reached an unprecedented level, potentially driving up prices, as per the International Energy Agency (IEA).
Oil prices reach a nine-month peak due to tensions in the Black Sea.
Amid concerns about oil supplies navigating the Black Sea, oil prices soared to their peak in almost nine months.
Gas prices decline as European storage hits an all-time high.
European natural gas prices are seeing a reduction due to the continually growing fuel reserves.
Goldman Sachs predicts that the US is likely to dodge a recession.
Goldman Sachs (NYSE: GS) has updated its analysis, reducing the odds of a US recession happening in the next year from 25% to 20%. This figure is still a bit
Germany secures additional US natural gas, distancing itself from Russian resources.
Germany has inked another extended agreement to import a larger quantity of US liquefied natural gas (LNG), shifting away from Russian energy amidst the ongoing Ukrainian conflict.
Gas prices decline as Goldman Sachs forecasts a decrease in demand.
Prices of natural gas in Europe have dipped once more following Tuesday’s surge, with Goldman Sachs asserting that a fall in demand will neutralize any effects from the disruption of
European gas prices indicates that the battle for LNG supply is far from concluded.
Futures prices experienced a week-long surge for the first time in 10 weeks, amid worries that Europe may have to import more gas.
Oil supported by supply threats yet still set for a second weekly drop
Friday’s oil price rise was supported by supply cuts and real threats. However, crude saw the second week of declines as China’s COVID-19 curbs and aggressive interest rate increases weighed
China Is Aggressively Buying Up Cheap Russian LNG at a 50% discount
Bloomberg reported that Russia is still selling liquefied natural gases from Sakhalin-2 in the Far East to China at half the price and still making profits, citing unnamed traders.