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OPEC leader Saudi Arabia is extending its oil production cut for at least another month in a move that threatens to drive gasoline and other energy prices even higher.
U.S. gasoline prices rose on Tuesday as refineries across the country closed due to freezing temperatures
Commodity traders and banks are scrambling to assess the impact of swinging financial sanctions on Russia’s key exports but most assume the curbs will continue to allow trading of oil and gas with Moscow, albeit with additional transactional costs. US, Canada, and European allies announced sanctions on the Central Bank of Russia and the removal ...
The European Commission and Japan intensified their plans for Russia sanctions on Feb. 27 as the US and EU coordinated on details to implement the pending ban on Russian banks using the SWIFT international payment system that could impact the trading of Urals crude oil. Meanwhile, crude oil futures opened substantially higher Feb. 27 as ...
Oil companies, refiners, shippers and traders are all weighing their involvement and exposure to Russia after financial sanctions were imposed in response to the invasion of Ukraine. Dated Brent was assessed by S&P Global Platts at $103.20/b, up $3.70, while American GulfCoast Select was assessed at $97.75/b, up $3.14. “It [sanctions] will likely make many ...