In recent times, fears of a spillover in the conflict between Israel and Hamas, which could embroil Iran and its allies in the region, have offered considerable support to oil prices. Unfortunately for the bulls, the oil price momentum has fizzled out with the war risk premium that helped fuel an oil price rally in the early days of the Israel-Hamas war all but gone thanks to Israel’s ground incursion into Gaza proving to be less extensive than some investors expected.
The energy giant reported earnings of US$6.2 billion between July and September, up sharply on the previous quarter
BP has set a deadline for completion of the Greater Tortue Ahmeyim (GTA) natural gas project offshore Mauritania and Senegal to Q1 2024, the British energy giant announced on Tuesday during a conference call.
Total Energies has signed an amendment to extend its partnership with Oman LNG for 10 years, the French energy giant announced on Thursday.
Oil prices have been a rollercoaster over the past couple of months as negative catalysts frequently outshine the positive ones and vice-versa. In recent times, fears of a spillover in the conflict between Israel and Hamas, which could embroil Iran and its allies in the region, have offered considerable support to oil prices.
Crude oil prices remained largely unchanged today after the Energy Information Administration reported an inventory build of a modest 800,000 barrels for the week to October 27.
Oil prices slipped more than 1% on Monday as investors adopted caution ahead of a U.S. Federal Reserve policy meeting and China’s manufacturing data due this week, offsetting support from tension in the Middle East.
The war in the Middle East could push crude oil prices to $150 per barrel if it spreads across the region, the World Bank warned this week.
Energy giant BP has reported lower than expected profits despite global oil prices rising again.
If there was any doubt left in your mind whether or not the oil and gas industry is literally running like greased lightning nowadays, it has been reported that ExxonMobil is still seeking out new M&A opportunities – even after the firm’s massive $60 billion acquisition of Pioneer.