Panama Canal cuts ship numbers further

The Panama Canal will make more cuts to the number of ships using the waterway due to the worst drought in over 70 years, authorities say.

Inflation in Argentina rises by 30% in 4 Months, one of the highest inflation rates in the world

Inflation in Argentina has continued to rise, showing a 30% increase over the four months of 2023, the Argentine National Institute of Statistics and Censuses announced on Friday.

Germany yet to ensure reliable Energy Supplies, high prices in the coming months due to the nuclear phaseout

Germany has not yet ensured reliable energy supplies in the short- and long-term, despite decreasing gas prices, President of the Association of German Chambers of Commerce and Industry (DIHK) Peter Adrian said on Tuesday.

Oil Prices Rise as Russia Announces Hefty Output Reduction

 World oil prices soared following Russia’s announcement of its planned hefty output cuts in February.

Fuel Prices in Italy Surge Dramatically As Tax Discount Expires

Gasoline and diesel prices in Italy have skyrocketed after a rebate on fuel-related excise levies expired.

Shipping costs for Russian oil skyrocket ahead of new sanctions — Bloomberg

 

The costs of chartering vessels to ship Russian oil are skyrocketing as more tanker owners refuse to ship it on the eve of new EU sanctions, Bloomberg reported. Owners who are still willing to load Russian crude are attempting to charge more for the risk, the publication says.

National Grid Chief Warns UK Households Face ‘Very, Very Hard’ Winter | Farsnews Agency

The head of National Grid warned that many British households would find this winter “financially very, very hard”, despite government support to limit the rise in gas and electricity bills.

European Gas Prices jump 10% plus as Gazprom to curb Nord Stream Flows

European natural gas prices jumped more than 10% on Wednesday after Gazprom PJSC said it will halt another turbine and reduce flows through the Nord Stream pipeline.

Germany moves closer to rationing gas as Gazprom cuts supply

 

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Gas prices rise after Russian flows via Ukraine drop by quarter as via Sokhranovka suspended

 

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Japan to sell 7.5 mln barrels of oil from national reserve - TASS | EL ETOS UT

Japan’s authorities decided in accordance with the arrangement among IEA member-states to sell 7.5 mln barrels of oil from the national reserve in order to reduce oil prices, Minister of Economy, Trade and Industry Koichi Hagiuda told reporters.

Oil prices hit 7-year high on security jitters

 

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OPEC approves output rise of about 1 Mn barrels

OPEC members have agreed on a combined increase in crude oil output of one million barrels per day, the oil minister of the cartel's kingpin Saudi Arabia said Friday.

Oil prices spike sharply after OPEC fails to deliver

Crude oil prices were soaring in early Friday trading after OPEC apparently disappointed with the terms of a consensus agreement on production.

New Shipping Regulations to Push Oil Prices to $90 by 2020 : Morgan Stanley

International efforts to reduce air pollution has lifted the hopes of oil traders, as new shipping regulations are expected to boost demand for lower sulfur fuels, raising demand for crude, as the bank’s analysts report. The current growth in oil prices already exceeds earlier predictions amid OPEC supply cuts and US sanctions against Iran.

Russia's Rosneft reaps rewards from higher oil prices

Russian oil company Rosneft said Monday its revenue increased more than 20 percent from last year, even as its production levels declined.

Alaska state poised to sell natural gas to China

The Alaska Gas Development Corp. (AGDC), a major energy developer in the US northwestern state of Alaska, is moving steadily toward a December deadline for agreements to sell liquefied natural gas (LNG) to Chinese buyers, an Alaska news outlet reported Friday.

Oil Prices Rise Amid Lower US Stockpiles, Rising Global Tensions

International oil prices are posting steady increases due to higher energy consumption in the US, Saudi Arabia's continued commitment to production cuts and rising global political uncertainty.

Ukraine is overpaying for European gas & wants Russia to foot the bill

Kiev was forced to buy expensive gas in Europe after Russia’s state-run company Gazprom severed contracts with Ukraine and refused to deliver the fuel in March. Now, Ukraine is demanding that Russia pays the price difference.

Norway to review oil and gas pension investments

Following advice from its central bank, the Norwegian Ministry of Finance said it would consider whether oil and gas stocks should be in a pension fund.