Page 26 - Dated Brent News Today

Crude closed on a seventh weekly gain; however, the latest inflation report from May weighed heavily against bullish fundamentals.

High oil prices and soaring inflation are tempering but not derailing the global oil demand outlook this year, though markets should be more focused on supply-side constraints in the near term, speakers at the Global Executive Petroleum & Energy Conference from S&P Global said June 7. Although record pump prices and spiraling living costs were ...

Oil demand is already being hit by elevated crude prices but there are positive signals that consumption will hold up for now, the head of the International Energy Agency’s oil market division Toril Bosoni told S&P Global Commodity Insights in an interview. We believe that current prices are already impacting economic growth and oil demand,” ...

Brazilian crude flows to China’s independent refineries in May fell to zero for the first time since January 2016 as buyers turned to attractively-priced barrels from Russia and Iran, a move that would potentially help the refiners to boost their refining margins, S&P Global Commodity Insights’ data showed June 8. Once a strong favorite of ...

Oil prices could rise above current levels of around $120/b in coming years as supply-side constraints more than offset the impact of a potential global recession triggered by spiraling inflation, according to Mark Dunand, the head of commodity trading group Mercuria. With growing uncertainty over the future of long-term oil demand, producers have been dialing ...

/PRNewswire/ -- Platts, part of S&P Global Commodity Insights, today announced that it will reflect cargoes of WTI Midland crude oil in its Dated Brent, Cash...

Kazakhstan is rebranding the crude oil it exports via Russia’s Transneft system as it conducts an “explanatory” campaign offering assurances its crude is not subject to sanctions against Moscow, state company KazMunaiGaz said June 7. The rebranding of the crude under the name KEBCO (Kazakhstan Export Blend Crude Oil) comes as sanctions against Russia throw ...

Russia expects to get around the EU ban on insuring and financing seaborne deliveries of Russian oil to third countries by using state guarantees, Dmitry Medvedev, deputy chairman of the Russian security council said June 6, in a post on his official Telegram channel. “This problem can be solved — insuring supplies can be secured ...

India’s demand for cheap Russian crude is insatiable as some of the largest Indian refiners are looking to negotiate six-month supply deals with Russia’s oil giant Rosneft at a time when Western buyers avoid dealing with Moscow’s crude

A new report from Bloomberg shows that while Russian seaborne crude oil shipments have increased, Moscow is earning far less on exports