05

May

EXPLAINER-What would be the impact of Russian oil sanctions in Europe?

LONDON, (Reuters) - The European Union has proposed a phased embargo of Russian oil, tightening its sanctions on Moscow for its invasion of Ukraine. What would the impact be of banning Russian…

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05

May

French energy minister expects EU consensus on Russian oil ban by end of week

May 5 (Reuters) - The French environment and energy minister, Barbara Pompili, on Thursday said she was confident European Union member states will reach a consensus on how to end…

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05

May

Oil climbs on supply jitters as EU lays out Russian oil ban

May 5, LONDON (Reuters) - Oil prices extended gains on Thursday on supply concerns after the European Union laid out plans for new sanctions against Russia, including an embargo on crude in six months, offsetting concerns over weaker…

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05

May

OPEC+ set to stick to existing deal despite demand concerns

LONDON (Reuters) - OPEC+ is set to agree another small increase in production targets for June, delegates from the group say, as expectations that sanctions will crimp Russian output further counter demand…

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04

May

UPDATED: Slovakia, seeking exemption, wants three-year transition for EU’s Russian oil embargo

May 4 (Reuters) - Slovakia wants a three-year transition period for it to phase in the European Union's proposed oil embargo on Russia, Economy Minister Richard Sulik said on Wednesday. Slovakia, highly…

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04

May

UPDATED: Oil jumps 3% as EU plans ban on Russian oil

LONDON, May 4 (Reuters) - Oil prices jumped on Wednesday as the European Union, the world's largest trading bloc, spelled out plans to phase out imports of Russian oil, offsetting demand worries…

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03

May

Oil price up as EU gets set to ban Russian crude

Oil prices rose on Tuesday, extending gains from the previous session, as the European Union firmed up plans to tighten sanctions on Russia this week, with Germany saying it was…

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02

May

EU may offer Hungary, Slovakia exemptions from Russian oil embargo

The European Commission may spare Hungary and Slovakia from an embargo on buying Russian oil, now under preparation, wary of how dependent the two countries are on Russian crude, two EU officials…

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01

May

Traders deploy costlier smaller tankers to move displaced Russian oil to China

SINGAPORE (Reuters) - Traders are deploying smaller, costlier vessels to ship displaced Russian oil from European ports to China, in a rare move as Western sanctions on Moscow force them to use…

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01

May

More of Europe’s crude supply is coming from deep in the heart of Texas

HOUSTON, (Reuters) - U.S. crude exports to Europe climbed in March and April as buyers across the Atlantic snapped up the country's light sweet grades to offset the expected loss of Russian…

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01

May

EU leans towards Russian oil ban by year-end

BRUSSELS, May 1 (Reuters) - The European Union is leaning towards a ban on imports of Russian oil by the end of the year, two EU diplomats said, after talks between the…

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30

Apr

Explainer: EU’s options to cut Russian oil imports – and their drawbacks

The European Union is considering options to cut imports of Russian oil as part of possible further sanctions against Moscow over its invasion of Ukraine, but none has been formally…

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29

Apr

Oil eases as China lockdowns weigh on demand outlook

SINGAPORE, April 29 (Reuters) - Oil prices were mixed on Friday as China's COVID-19 lockdowns weighed on the outlook for crude demand, although supply disruption fears as Western sanctions curb crude and products exports…

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27

Apr

Oil rises on Russia gas tension, China stimulus hopes

April 27 (Reuters) - Oil prices extended gains in early Asian trade on Wednesday amid simmering geopolitical tensions as Russia cut gas supplies to Poland, while hopes of Chinese economic stimulus buoyed…

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25

Apr

Borrell says no EU agreement on Russian energy embargo

BERLIN, April 25 (Reuters) - There is insufficient support from European Union member states for a complete embargo or punitive tariff on Russian oil and gas imports, the EU's top diplomat Josep…

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25

Apr

Abu Dhabi crude to head to Europe, replace Russian oil – sources

SINGAPORE, April 25 (Reuters) - A shipping unit of France's TotalEnergies TTEF.PA has provisionally chartered a tanker to load Abu Dhabi crude in early May for Europe, the first such shipment in two years,…

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22

Apr

Oil prices on track for near 4% weekly decline on demand concerns

April 22 (Reuters) - Oil prices extended losses on Friday, heading for a 4% weekly drop and burdened by the prospect of rate hikes, weaker global growth and COVID-19 lockdowns in China hurting demand, even…

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21

Apr

Oil firms as investors focus on supply drop from Russia, Libya

Oil prices rose on Thursday as concerns about supply due to a potential European Union (EU) ban on Russian oil came to the fore, days after diminished supplies from Libya rocked the…

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20

Apr

Oil prices rebound after sharp losses as supply concerns dominate

April 20 (Reuters) - Oil prices rebounded on Wednesday from sharp losses in the previous session as concerns about tighter supplies from Russia and Libya dominated, while industry data showed a drop…

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19

Apr

Oil rises as Libya outage adds to supply woes, Shanghai prepares to reopen

Oil prices rose on Tuesday as investors fretted over tight global supply after Libya was forced to halt some exports and as factories in Shanghai prepared to reopen post a…

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18

Apr

Oil rises as Libya outages add to Russia supply fears

Oil prices rose on Monday in choppy trade, with Brent crude topping $112 a barrel, as outages in Libya deepened concern over tight global supply and the Ukraine crisis dragged…

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13

Apr

Russian oil supply drop to double in May, says IEA

LONDON, April 13 (Reuters) - The impact of sanctions and buyer aversion on Russian oil will take full effect from May onwards, the International Energy Agency said on Wednesday. Countering that, expected…

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13

Apr

Oil prices ease on weaker economic data from China, Japan

April 13 (Reuters) - Oil prices eased on Wednesday, giving up earlier gains, after China and Japan reported weak economic data, fuelling concerns about growth and oil demand in the world's top consumers.…

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12

Apr

OPEC cuts 2022 world oil demand forecast due to Ukraine conflict

OPEC on Tuesday cut its forecast for growth in world oil demand in 2022 citing the impact of Russia's invasion of Ukraine, rising inflation as crude prices soar and the…

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12

Apr

Oil rises on OPEC warning and easing of Shanghai COVID curbs

Oil prices climbed on Tuesday as Shanghai's relaxation of some COVID-19 restrictions eased concerns about Chinese demand and as OPEC warned it would be impossible to replace potential supply losses…

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12

Apr

OPEC tells EU it’s not possible to replace potential Russian oil supply loss

OPEC told the European Union on Monday that current and future sanctions on Russia could create one of the worst ever oil supply shocks and it would be impossible to replace those volumes,…

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08

Apr

Barclays raises oil price forecasts, says strategic release effect temporary

April 8 (Reuters) - Barclays increased its oil price forecasts by $7 to $8 a barrel on Friday, saying the recently announced releases from Strategic Petroleum Reserves (SPRs) cannot be a sustainable…

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08

Apr

IEA details plan to release 120 mln barrels of oil over 6 months to cool prices

 (Reuters) - The International Energy Agency (IEA) listed members' contributions to a 120-million-barrel release of crude and oil products from emergency stockpiles aimed at cooling global oil prices following Russia's…

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08

Apr

Oil headed for 3% weekly fall on emergency stocks release

MELBOURNE/BEIJING, April 8 (Reuters) - Oil prices drifted lower on Friday and were set to drop around 3% for the week as consuming countries' planned release of 240 million barrels from emergency…

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07

Apr

Brent oil six-month spread falls to lowest since Jan as supply fears ease

LONDON, April 7 (Reuters) - The Brent crude six-month spread has fallen to its lowest since January, Refinitiv Eikon data showed, as a release of strategic oil reserves by the United States…

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06

Apr

Oil mixed as new Russia sanctions, U.S. dollar rises towards 2-year high

TOKYO, April 6 (Reuters) - Oil futures were mixed on Wednesday, recovering from early losses, as the threat of new sanctions on Russia raised supply concerns, countering fears of weaker demand following…

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05

Apr

Oil extends rally on prospect of fresh Russia sanctions

Oil prices rose on Tuesday as the United States and Europe planned new sanctions to punish Russia over alleged war crimes in Ukraine, raising concerns of tighter global supply, while Iran's…

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02

Apr

FACTBOX-Who is buying Russian crude oil and who has stopped

 (Reuters) - Australia, Britain, Canada and the United States have imposed outright bans on Russian oil purchases following Moscow's invasion of Ukraine, but the European Union remains divided. The bloc's 27 members…

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01

Apr

Oil down slightly before consumer nations’ meeting on stocks release

SINGAPORE, April 1 (Reuters) - Oil prices fell slightly on Friday as they traded in a narrow range ahead of a meeting of consuming nations to discuss a new release of emergency oil reserves alongside a…

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31

Mar

Oil prices dive as Biden weighs massive reserves release

SINGAPORE, March 31 (Reuters) - Oil prices dived more than $5 a barrel on Thursday as the United States is considering the release of up to 180 million barrels from its strategic petroleum reserve (SPR) over several months…

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30

Mar

Oil rebounds on tight supply, prospects of new Russia sanctions

MELBOURNE/BEIJING, March 30 (Reuters) - Oil prices clawed back heavy losses on Wednesday, amid tight supply and growing prospects of new Western sanctions against Russia even as signs of progress emerged from…

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29

Mar

Analysis: Why the cost of living will continue to increase

via The Conversation by Veronika Dolar, Assistant Professor of Economics, SUNY Old Westbury The price of oil has been spiking in recent weeks in response to concerns that the war…

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29

Mar

China’s COVID lockdowns dent oil demand, independent refiners resell crude

Anti-COVID lockdowns have dampened consumption of transportation fuels in China to a point where some independent refiners have resorted to trying to resell crude purchased for delivery over the next…

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29

Mar

58% of energy consumed in EU is imported, agency finds

In 2020, the EU imported 58% of the energy it consumed, as its own production satisfied only 42% of its needs. The EU’s energy mix in 2020 consisted of 35%…

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25

Mar

Oil edges lower as supply crunch fears ease, trading costs rise

SINGAPORE, March 25 (Reuters) - Oil prices inched lower on Friday as supply concerns eased as countries in the European Union remained split on imposing an oil embargo on Russia while the…

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24

Mar

Oil prices see-saw amid hopes of Iran deal, supply woes linger

NEW DELHI, March 24 - Crude prices declined in volatile trading on Thursday as investors assessed the potential for new supply in the tight markets amid prospects of a new Iran deal.…

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23

Mar

Oil prices rise as U.S. stockpiles decline amid tight market

NEW DELHI, March 23 (Reuters) - Oil prices rose on Wednesday as a reported drop in U.S. crude inventories increased concerns about tight global supplies amid the hit to Russian exports from economic sanctions. Brent crude LCOc1 futures climbed $1.77,…

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22

Mar

Oil prices surge again as EU considers embargo on Russia

Oil prices extended gains on Tuesday as some European Union members discussed a potential oil embargo on Russia and attacks by Yemen's Iran-aligned Houthi group on Saudi energy and water desalination facilities sent…

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22

Mar

Factbox: Who is still buying Russian crude oil

Australia, Britain, Canada and the United States have imposed outright bans on Russian oil purchases, and the European Union plans to discuss such a ban this week, sending global oil…

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21

Mar

Novak says oil may hit $300 a barrel if Russian crude shunned, TASS reports

March 21 (Reuters) - Russian Deputy Prime Minister Alexander Novak said on Monday that oil prices could reach $300 a barrel if Russian crude was shunned by the West, although he said…

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21

Mar

Oil jumps as EU mulls Russian ban, Saudi refinery output hit

March 21 (Reuters) - Oil prices jumped $3 on Monday, with Brent above $110 a barrel, as European Union nations consider joining the United States in a Russian oil embargo, while a…

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20

Mar

Algeria’s Sonatrach says it has made important oil find with Eni

March 20 (Reuters) - Algerian state-energy company Sonatrach said on Sunday it has made an important oil discovery in partnership with Italy's ENI , according to a company statement. The reservoir discovered in…

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20

Mar

Saudi Arabia hikes oil investments as it profits from price surge

Saudi Arabia's state oil company Aramco, under pressure from the West to boost output amid soaring prices, pledged on Sunday to hike investments by around 50% this year as it…

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18

Mar

IEA urges reduced transport to cut oil use amid supply crunch

LONDON, March 18 (Reuters) - The International Energy Agency (IEA) on Friday urged consumers to travel less, share transport and drive more slowly, part of a 10-point plan to cut oil use…

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18

Mar

Oil jumps as Russia-Ukraine talks stall

MELBOURNE, March 18 (Reuters) - Oil prices extended their rally on Friday at the end of a third volatile week of trade after slim progress in peace talks between Russia and Ukraine…

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17

Mar

Oil rises after IEA supply shortfall warning

March 17 - Oil prices climbed on Thursday after the International Energy Agency (IEA) said markets could lose three million barrels per day (bpd) of Russian crude and refined products from April.…

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16

Mar

Oil prices climb as Russia-Ukraine ceasefire talks stoke volatility

BEIJING, March 16 (Reuters) - Oil prices rose over $1 on Wednesday, bouncing back after earlier declines, as Russia's invasion of Ukraine continues to stoke volatile trading with ceasefire talks the latest…

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15

Mar

Oil price drops to two-week low as ceasefire talks continue

Oil prices extended losses on Tuesday, sliding to a two-week low as ceasefire talks between Russia and Ukraine eased fears of further supply disruptions and surging COVID-19 cases in China fuelled…

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14

Mar

Oil prices extend losses

BEIJING, March 14 (Reuters) - Oil prices shed as much as $4 a barrel on Monday, extending last week's decline as diplomatic efforts to end the war in Ukraine were stepped up…

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13

Mar

Why Russia still has Europe over a barrel when it comes to oil supply

by Slawomir Raszewski - Oil and war have been inextricably linked for decades, and Ukraine is no exception. And as the west seeks to put ever greater economic pressure on…

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11

Mar

French government reassures over supplies at petrol stations amid concerns over prices

PARIS, March 11 (Reuters) - France has enough supplies of petrol at the country's petrol stations, said the French energy and environment ministry on Friday, as concerns mount over tensions in world…

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11

Mar

FACTBOX-Airline hedging and surcharges offset some oil price pain

March 11 (Reuters) - The price of oil this week surged to its highest point since 2008 after Russia's invasion of Ukraine, adding to airline costs at a time when carriers have been…

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