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Exclusive: Saudi’s Falih says oil stocks still building, but OPEC to act if needed

6 hours ago DieselGasoil Comments Off on Exclusive: Saudi’s Falih says oil stocks still building, but OPEC to act if needed
JEDDAH, Saudi Arabia (Reuters) – Saudi Arabia’s Energy Minister Khalid al-Falih said on Saturday that OPEC will be responsive to the oil market’s needs, but that he was not sure there is an oil shortage with data, particularly from the United States, still showing inventories building. Saudi Minister of Energy Khalid al-Falih speaks during financial Read More

Exclusive: Saudi’s Falih says not sure there is oil shortage, OPEC will act

7 hours ago DieselGasoil Comments Off on Exclusive: Saudi’s Falih says not sure there is oil shortage, OPEC will act
Saudi Minister of Energy Khalid al-Falih speaks during financial sector conference in Riyadh, Saudi Arabia April 24, 2019. REUTERS/Stringer. JEDDAH, Saudi Arabia (Reuters) – Saudi Arabia’s Energy Minister Khalid al-Falih said on Saturday that OPEC will be responsive to the oil market’s needs, but that he was not sure there is an oil shortage with Read More

U.S. natural gas and oil industry turns in strong April performance

20 hours ago DieselGasoil Comments Off on U.S. natural gas and oil industry turns in strong April performance
5/17/2019 WASHINGTON — The American Petroleum Institute’s latest Monthly Statistical Report (MSR) shows U.S. crude oil production sustained a record-tying 12.1 MMbopd in April 2019 while total petroleum demand was the highest for the month since 2007 at 20.2 MMbpd. Other April highlights include: U.S. petroleum demand grew 1.2% year to year (y/y) in April. Read More

Oil prices rise more than 1% as Middle East conflict persists

2 days ago DieselGasoil Comments Off on Oil prices rise more than 1% as Middle East conflict persists
NEW YORK (Reuters) – Oil futures were up more than 1% on Thursday as tensions in the Middle East grew, with a Saudi-led coalition launching air strikes in retaliation for recent attacks on its crude infrastructure. FILE PHOTO: Pump jacks operate at sunset in an oilfield in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford/File Read More

Walmart says higher China tariffs will increase prices for U.S. shoppers

2 days ago DieselGasoil Comments Off on Walmart says higher China tariffs will increase prices for U.S. shoppers
(Reuters) – Walmart Inc said on Thursday that prices for shoppers will go up due to higher tariffs on goods from China as the world’s largest retailer reported its best comparable sales growth for the first quarter in nine years. Walmart shares, which have gained 7% so far this year, jumped nearly 4% to $103.84 Read More

Brent oil moves toward $73 on Middle East tensions

2 days ago DieselGasoil Comments Off on Brent oil moves toward $73 on Middle East tensions
LONDON (Reuters) – Oil prices rose on Thursday for a third day running as fears of supply disruption amid heightened tensions in the Middle East overshadowed swelling U.S. crude inventories. FILE PHOTO: Pump jacks operate at sunset in an oilfield in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford/File Photo Brent crude futures were up $1.03 Read More

Walmart says higher tariffs on China goods will increase prices for U.S. shoppers

2 days ago DieselGasoil Comments Off on Walmart says higher tariffs on China goods will increase prices for U.S. shoppers
(Reuters) – Walmart Inc said on Thursday that prices for shoppers will go up due to higher tariffs on imports from China as the world’s largest retailer reported its best comparable sales growth for the first quarter in nine years. FILE PHOTO: A Walmart logo is displayed above the floor of the New York Stock Read More

Huawei’s $105 billion business at stake after U.S. broadside

2 days ago DieselGasoil Comments Off on Huawei’s $105 billion business at stake after U.S. broadside
HONG KONG/BEIJING (Reuters) – The latest U.S. broadside against Huawei that puts the Chinese firm on an exports blacklist threatens to rattle the global tech supply chain, linked closely to the $105 billion business of the world’s top supplier of telecoms network equipment. The Trump administration has said it would add Huawei Technologies and 70 Read More

Oil edges up for third session on Mideast tensions

2 days ago DieselGasoil Comments Off on Oil edges up for third session on Mideast tensions
TOKYO (Reuters) – Oil prices pushed higher on Thursday for a third day in a row, as fears of supply disruptions amid heightened tensions in the Middle East overshadowed an unexpected rise in U.S. inventories. FILE PHOTO: Pump jacks operate at sunset in an oilfield in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford/File Photo Read More

Asia shares slip as U.S. sanctions on Huawei threaten fresh tensions with China

2 days ago DieselGasoil Comments Off on Asia shares slip as U.S. sanctions on Huawei threaten fresh tensions with China
TOKYO (Reuters) – Asian shares struggled to find their footing on Thursday as confidence was shaken after the U.S. government hit Chinese telecoms giant Huawei with severe sanctions, threatening to further strain Sino-U.S. trade ties. FILE PHOTO: Market prices are reflected in a glass window at the Tokyo Stock Exchange (TSE) in Tokyo, Japan, February Read More