Oil prices rose on Tuesday as the United States and Europe planned new sanctions to punish Russia over alleged war crimes in Ukraine, raising concerns over tighter global supply, while Iran’s nuclear talks with world powers stalled.
Exxon Mobil Corp (XOM.N) on Monday signaled first quarter production results could top a seven-year quarterly record, with operating profits from pumping oil and gas of up to $9.3 billion.
Russia maintained gas flows through key pipeline routes into Europe on Monday, despite uncertainty over payment terms and as European leaders called for more sanctions against Moscow after war crimes allegations in Ukraine.
Oil prices fell at the start of Asian trade on Sunday, after the United Arab Emirates and the Iran-aligned Houthi group welcomed a truce that would halt military operations on the Saudi-Yemeni border, alleviating some concerns about potential supply issues.
President Vladimir Putin signed a decree on Thursday requiring foreign buyers to pay roubles for Russian gas from April 1 or see their contracts halted, a move described as “blackmail” by European states.
A Zimbabwean company that had been banking on Chinese financing to build a major coal-fired power plant says it is now looking for alternative backers as China pulls back on funding such projects overseas.
Russia’s demand that some buyers pay for its gas in roubles has raised concerns in Germany, which relies on Russian fuel, that the payment dispute could escalate and disrupt supplies.
Oil prices rose on Tuesday, recovering some of the previous session’s losses as Kazakhstan’s supplies continued to be disrupted and major producers showed no sign of being in a hurry to boost output significantly.
The energy ministers of Saudia Arabia and the United Arab Emirates, key members of OPEC+, said on Tuesday the producers’ group should not engage in politics as pressure mounted on them to take action against Russia over its invasion of Ukraine.
BP (BP.L) is seeking buyers for its shut-down Foinaven oilfield in the North Sea, hoping Britain’s renewed focus on domestic production will attract buyers interested in extracting the field’s remaining reserves, industry sources said.
Oil prices rose on Tuesday as the United States and Europe planned new sanctions to punish Russia over alleged war crimes in Ukraine, raising concerns over tighter global supply, while Iran’s nuclear talks with world powers stalled.
Exxon Mobil Corp (XOM.N) on Monday signaled first quarter production results could top a seven-year quarterly record, with operating profits from pumping oil and gas of up to $9.3 billion.
Russia maintained gas flows through key pipeline routes into Europe on Monday, despite uncertainty over payment terms and as European leaders called for more sanctions against Moscow after war crimes allegations in Ukraine.
Oil prices fell at the start of Asian trade on Sunday, after the United Arab Emirates and the Iran-aligned Houthi group welcomed a truce that would halt military operations on the Saudi-Yemeni border, alleviating some concerns about potential supply issues.
President Vladimir Putin signed a decree on Thursday requiring foreign buyers to pay roubles for Russian gas from April 1 or see their contracts halted, a move described as “blackmail” by European states.
A Zimbabwean company that had been banking on Chinese financing to build a major coal-fired power plant says it is now looking for alternative backers as China pulls back on funding such projects overseas.
Russia’s demand that some buyers pay for its gas in roubles has raised concerns in Germany, which relies on Russian fuel, that the payment dispute could escalate and disrupt supplies.
Oil prices rose on Tuesday, recovering some of the previous session’s losses as Kazakhstan’s supplies continued to be disrupted and major producers showed no sign of being in a hurry to boost output significantly.
The energy ministers of Saudia Arabia and the United Arab Emirates, key members of OPEC+, said on Tuesday the producers’ group should not engage in politics as pressure mounted on them to take action against Russia over its invasion of Ukraine.
BP (BP.L) is seeking buyers for its shut-down Foinaven oilfield in the North Sea, hoping Britain’s renewed focus on domestic production will attract buyers interested in extracting the field’s remaining reserves, industry sources said.
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