gas

Several oil and gas facilities in Russia have caught fire in recent weeks following suspected drone attacks.Ukraine appears to be targeting energy infrastructure to hamper Russian supply lines.Russia's air defense systems have proven to be less effective against small drones. Thanks for signing up! Access your favorite topics in a personalized feed while you're on…

Former President Trump is working to ramp up his support among energy executives, WaPo reported.Trump is a climate crisis skeptic who pushed for more drilling while in office.Support from oil and gas executives would be crucial to his 2024 reelection campaign. Loading Something is loading. Thanks for signing up! Access your favorite topics in a…

Wholesale gas prices will fall in coming months as oil demand keeps weakening, energy analyst Paul Sankey said. That's partially as Saudi Arabia's production cuts pushed oil prices too high, he told CNBC. It's unlikely the kingdom will cut output further, as it risks losing oil market share. Loading Something is loading. Thanks for signing…

The US is seeing a "freight recession," meaning fewer trucks delivering goods across the country. The slowdown in deliveries comes as diesel prices have dropped by roughly half since last year. The American Trucking Association's truck tonnage index dropped to the lowest since August 2021. Loading Something is loading. Thanks for signing up! Access your…

The EU's stockpile of natural gas is at the highest level for April since 2011. That means some EU states could phase out imports of Russian LNG, the bloc's energy commissioner said. It would also entail increasing the share of renewables and further diversifying sources, Kadri Simson told the FT. Loading Something is loading. Thanks…

Gulf nations are snapping up cheap Russian oil products while exporting their own crude at market rates. Saudia Arabia and the UAE have emerged as key storage and trading hubs for Russian products, the Wall Street Journal reported. Russia is sending 100,000 barrels a day to Saudi Arabia, up from effectively zero pre-Ukraine war, Kpler…

Russia sold $47 million worth of Chinese yuan from foreign currency reserves on January 13 to buy rubles.  Falling oil and gas revenues due to Western sanctions have widened Russia's budget deficit.  The Kremlin plans to sell yuan everyday from January 13 to February 6 as part of Russia's budget rule. Loading Something is loading.…

Lawmakers appeared to be very passionate about their gas stoves after talks of a ban were floated this week. "COME AND TAKE IT!!" Rep. Ronny Jackson wrote, saying he'd "NEVER give up" his gas stove. Critics of gas stoves point to research that shows they could pose a health hazard. Loading Something is loading. Thanks…

The cap on Russian oil imposed by the West is hurting Moscow's export revenue, Finance Minister Anton Siluanov said.   The Kremlin's budget deficit also could grow beyond a planned 2% in 2023, he added.  His comments follow news last week that Russia could cut oil output by as much as 7%.  Loading Something is loading.…

Russia's isolation from the west is a disaster for the long-term health of its economy, experts told Insider.  Trade isolation limits what Russia can import, making production more expensive. Russia's situation will also greatly decrease its status as an energy superpower.  Loading Something is loading. Thanks for signing up! Access your favorite topics in a…