Energy News

Oil Prices Unmoved as Unexpected U.S. Inventory Build Raises Concerns

Oil Prices Unmoved as Unexpected U.S. Inventory Build Raises Concerns

Unexpected Inventory Build: U.S. crude inventories unexpectedly grew, sparking concerns about weakening fuel demand and troubling the oil market. Global…

January 11, 2024

U.S. Department of Energy Seeks Domestic Production of Higher-Enriched Uranium Fuel for Next-Gen Reactors

Seeking bids for HALEU production to meet demand for next-gen reactors, aiming for energy security. $500 million funding allocated; potential…

January 10, 2024

Oil Prices Steady Amidst Middle East Tensions and OPEC Supply Concerns

Market Volatility: Brent and WTI futures stabilize after a 3-4% drop, driven by Saudi cuts and rising OPEC output. Geopolitical…

January 9, 2024

Red Sea Revival: Shipping Giants Signal Return, Easing Oil Supply Fears

Shipping Resumes Through Red Sea: Major companies like Maersk and CMA CGM signal a return, easing concerns and boosting market…

December 28, 2023

Berkshire’s Billion-Dollar Bet: Warren Buffett’s Power Move Boosts Occidental Petroleum Stake, Sparks Market Buzz

Berkshire's Move: Berkshire Hathaway acquires 10.5 million Occidental Petroleum shares, totaling $588.7 million, strengthening its ownership to 27%. Strategic Origin:…

December 14, 2023

Oil Surge: Strategic Reserves Boost Prices Amid OPEC Skepticism and Market Volatility

Oil Prices Surge: Brent crude rises 0.6% to $76.32, WTI climbs 0.5% to $71.61, supported by U.S. Strategic Petroleum Reserve…

December 11, 2023

Oil Plunge: Global Market Turbulence Continues Amid Weak Demand, OPEC+ Skepticism, and Economic Uncertainties

Prices near six-month low due to weak production cuts, high U.S. supplies, and fears of weakening demand. Underwhelming Chinese import…

December 8, 2023

Oil Rollercoaster: Markets Reel from U.S. Output Surge, Global Collaboration, and China’s Economic Quandary

Oil Price Volatility: Prices, at their lowest since June, experienced a slight rebound in Asian trading, signaling market uncertainty. U.S.…

December 7, 2023

Oil Markets Dance with Geopolitics and OPEC Drama: Can Crude Prices Weather the Storm?

Geopolitical Tensions Drive Oil Prices: Renewed concerns over the Israel-Hamas conflict fuel oil price uptick in Asian trade. OPEC+ Disappoints…

December 5, 2023

OPEC+ Shakes Oil Markets: 2.2M BPD Cuts, Market Skepticism, and Brazil’s Invite in Global Energy Pivot

OPEC+ agrees to voluntary 2.2 million bpd output cuts, led by Saudi Arabia, reflecting cohesion but met with market skepticism.…

December 1, 2023