Latest Oil Market News and Analysis for Oct. 21
Oil steadied after a choppy session on Tuesday that saw traders parse conflicting headlines on efforts to end the US-Iran war.
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Oil steadied after a choppy session on Tuesday that saw traders parse conflicting headlines on efforts to end the US-Iran war.
President Macron's Gulf visit aims to address rising energy prices and strengthen ties amid regional security concerns.
Genie Godula is pleased to welcome Franรงois Gouyette, former French ambassador to the UAE and Saudi Arabia. Against a backdrop of violent unrest at home and escalating conflict in the Middle East, French President Emmanuel Macron's Gulf diplomacy underscores the increasingly blurred boundaries between domestic economic security and international strategic commitments. Ambassador Gouyette argues that the visit serves a dual purpose: alleviating France's energy pressures while reaffirming its longstanding defense partnerships with Gulf monarchies. Insisting that "France has to play its role as a key partner," Gouyette portrays French military assistance as an expression of strategic solidarity rather than direct participation in the war with Iran.ย
French President Emmanuel Macron has secured the delivery of an additional 200,000 tonnes of diesel per month from the United Arab Emirates and Bahrain, the French presidency said on Tuesday. Macron is undertaking a tour of key energy suppliers in the Gulf in an effort to secure oil and diesel and bring down prices in France, after a weekend of violent protests over soaring living costs. FRANCE 24'S Tarek Kaรฏ reports from Doha, Qatar.
Halliburton Co. is predicting years of growing demand for oil field services as nations in the Middle East rebuild energy assets and infrastructure damaged in the Iran war.
The โU.S. โSecretary of โState also said that India and U.S. are โvery very closeโ to finalising the trade deal
Mexicoโs president acknowledged that Trump raised US gas sales in their calls. US pipelines already send Mexico a record 6.6 billion cubic feet a day. The post Mexico Says Trump Wants More US Gas 19 Oct appeared first on The Rio Times.
The US will turn some "dark fleet" oil tankers into legitimate ships that can legally carry crude, says Energy Secretary Chris Wright. He says investors will refurbish some ships and have them carry non-sanctioned oil. He speaks to Bloomberg's Annmarie Hordern at a Citadel Securities event in New York. (Source: Bloomberg)
US natural gas futures increased slightly as forecasts shifted to show colder weather than previously expected across the eastern US, indicating higher demand for the furnace fuel as consumers crank up the heat. Gas flows to liquefied natural gas export terminals on the US Gulf Coast also rose, leaving less gas within the domestic market and adding upward pressure to prices.
Though stockpiles are currently ample, a mining slowdown threatens to erode the countryโs reserves.
Chinese coal production fell last month, as concerns build over supply ahead of the winter heating season when demand typically peaks.
Ukraineโs Volodymyr Zelensky spoke to US envoys Steve Witkoff and Jared Kushner in the midst of his spat with US President Donald Trump on Sunday, saying โa lot depends on Americaโ as he earlier warned Washington not to side with Moscow in Europeโs worst conflict since World War II. The wartime leader spoke to the US officials as both Russia and Ukraine hit each otherโs energy sites, with Moscow leaving thousands without power and Kyiv carrying out the largest drone attack on St Petersburg since...
The vessels, each carrying about two million barrels of crude oil, used an unauthorised route, the IRGC says.
From US threats to cut off intelligence support for Ukraine to a waiver of tariffs on Russian โ exports and a diesel deal that could help Russia fund its war, it has been a damaging week for ties between Kyiv and its most important ally, Washington. US President Donald Trump, frustrated by high energy costs he blames partly on Ukrainian strikes on Russian refineries, has repeatedly criticised Ukrainian President Volodymyr Zelensky. A disruption of US-provided satellite internet services raised...
Niger banned exports of diesel and premium petrol in a bid to address fuel supply challenges that the country has been facing in recent days, the ministry of trade and industry said in a statement on its Facebook page.
Brent oil hit $110 a barrel for the first time since May as prospects for imminent supply relief dwindle, prompting traders to ramp up bullish bets ahead of the weekend.