Hamas on Thursday recommitted to the ceasefire with Israel and said it would free another three hostages as planned on Saturday, easing concerns that the truce was close to collapse.
The ceasefire, which was signed a day before the inauguration of President Donald Trump, was threatened to unravel earlier this week, after both sides accused the other of violating the terms of the truce.
The Biden Administration on January 10 imposed the most severe sanctions on Russia’s oil yet, designating two major Russian oil companies, Gazprom Neft and Surgutneftegas, as well as 183 vessels, dozens of oil traders, oilfield service providers, insurance companies, and energy officials.
“We have not received any new offers for the March window (delivery). Traders are asking us to wait. We are waiting to get offers,” Vetsa Ramakrishna Gupta told Reuters. “We are not expecting the similar number of cargoes that we used to get in the months of December and January,” he added.
Crude oil prices were on course to end the week with a gain, snapping a three-week string of losses as Trump signaled reciprocal tariffs for U.S. trade partners will not come into effect until at least April.
“The surge is primarily driven by robust growing use of electricity for industrial production, increased demand for air conditioning, accelerating electrification, led by the transport sector, and the rapid expansion of data centres,” the International Energy Agency said.
President John Mahama has reassigned the former Member of Parliament for Bongo, Edward Abambire Bawa as the Group Chief Executive Officer of GOIL.
The move higher was driven by a rapid tightening in inventories due to colder weather, lower wind power generation due to low wind speeds and the termination of Russian gas imports via Ukraine.
Europe has been driving global LNG trade since the start of the year, buying every cargo it can to secure energy supply during the coldest months of the year. Once spring comes, however, it will need to begin to refill its fast-emptying storage to prepare for next winter—and its fondness for overregulation may turn suicidal.
Crude oil inventories in the United States saw a build of 4.1 million barrels during the week ending February 7, according to the U.S. Energy Information Administration.
A new US Department of Energy survey provides updated data on oil & natural gas production in the CaspianBasin. It shows that four regional states – Azerbaijan, Kazakhstan, Turkmenistan and Uzbekistan – collectively account for 3 percent of global energy production.