When we talk of the Israeli-Palestinian conflict, we tend to focus on the latter’s political, social and humanitarian dimensions. But often this comes at the expense of considering an important economic dimension — one which recent events in Gaza have brought into stark relief.
SINGAPORE, Dec 5 (Reuters) – Oil prices held steady on Tuesday amid uncertainty over voluntary output cuts by OPEC+ and as continued tension in the Middle East spurred supply concern.
Brent crude futures LCOc1 edged up 13 cents to $78.16 a barrel by 0106 GMT, while U.S. West Texas Intermediate crude futures CLc1 were up 18 cents at $73.22 a barrel.
Division and dissent within OPEC+ over deeper production cuts led to an unconvincing announcement last week which pushed prices lower.
Brent crude futures were down 0.9%, or 73 cents, to US$78.15 a barrel by 0735 GMT, while U.S. West Texas Intermediate crude futures were at US$73.43 a barrel, down 0.8%, or 64 cents
Russia will be ramping up its diesel exports from its Black Sea and Baltic Sea ports by 28% in December from November, as Moscow relaxed further its fuel export curbs and Black Sea storms delayed some November loadings into this month, industry data seen by Bloomberg showed on Friday.
Middle East oil and gas operators will need to be vigilant about the risk of cyberattacks as the Israel-Gaza conflict continues, security experts warn, or else risk energy supply disruption globally.
LONDON: Oil prices tanked 4 percent on Wednesday as OPEC+ producers unexpectedly delayed a meeting on output planned for Sunday, raising questions about the future course of crude production cuts.
Newly released data from the Texas Workforce Commission (TWC) indicates that upstream oil and natural gas employment grew by an additional 2,200 jobs in October, the Texas Oil & Gas Association (TXOGA) noted in a statement sent to Rigzone recently.
Polish oil and gas firm Orlen has provisionally chartered a supertanker to load Venezuelan oil for China, according to a shipbroker and tracking data, following a temporary easing of US sanctions on the South American country.
OPEC+ members are set to meet on Sunday to discuss production policy, and unnamed sources have claimed that the group will be discussing further production cuts.