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Texas refineries cut output as petrochemical spill curbs shipping

20 hours ago DieselGasoil Comments Off on Texas refineries cut output as petrochemical spill curbs shipping
HOUSTON (Reuters) – A petrochemical disaster outside Houston that has disrupted ship traffic for days at a major U.S. oil port led two major refineries on Monday to reduce fuel production, according to people familiar with the matter. Smoke covers the Houston area from a fire burning at the Intercontinental Terminals Company in Deer Park, Read More

Oil prices little changed as economic slowdown fears tempered

21 hours ago DieselGasoil Comments Off on Oil prices little changed as economic slowdown fears tempered
NEW YORK (Reuters) – Oil prices held steady on Monday as investors weighed concerns of a slowdown in global economic growth against the prospect of tighter crude supply and lower U.S. inventories. FILE PHOTO: FILE PHOTO: An oil pump jack pumps oil in a field near Calgary, Alberta, Canada on July 21, 2014. REUTERS/Todd Korol/File Read More

Ivory Coast to conclude licensing of six oil blocks by midyear

1 day ago DieselGasoil Comments Off on Ivory Coast to conclude licensing of six oil blocks by midyear
By Leanne de Bassompierre and Paul Burkhardt on 3/25/2019 ABIDJAN and JOHANNESBURG (Bloomberg) — Ivory Coast plans to conclude the licensing of six oil blocks by June as the country seeks to increase crude output amid rising interest from supermajors to explore in West Africa. The government is in talks with French and Italian majors Read More

China plans to invest in mature fields to boost production

1 day ago DieselGasoil Comments Off on China plans to invest in mature fields to boost production
By Aibing Guo on 3/25/2019 HONG KONG (Bloomberg) — China’s oil giants aim to spend the most in five years in pursuit of higher energy output. But unlike global rivals investing in top-tier assets, the state-owned producers are trying to boost supply from fields that are either old and high-cost or new and challenging. China’s Read More

'Flashing amber': Global stocks tumble, bonds rally on U.S. recession risk

1 day ago DieselGasoil Comments Off on 'Flashing amber': Global stocks tumble, bonds rally on U.S. recession risk
SYDNEY (Reuters) – Investors ditched shares on Monday and fled to the safety of bonds as risk assets fell out of favor on growing fears of a U.S. recession, sending global yields plunging. FILE PHOTO: A man is reflected on an electronic board showing a graph analyzing recent change of Nikkei stock index outside a Read More

Oil prices drop almost 1 percent on concerns recession may be looming

1 day ago DieselGasoil Comments Off on Oil prices drop almost 1 percent on concerns recession may be looming
SINGAPORE (Reuters) – Oil prices dropped by almost 1 percent on Monday, with concerns recession could be looming outweighing supply disruptions from OPEC’s production cutbacks and from U.S. sanctions on Iran and Venezuela. FILE PHOTO: FILE PHOTO: An oil pump jack pumps oil in a field near Calgary, Alberta, Canada on July 21, 2014. REUTERS/Todd Read More

U.S. buyers of Venezuelan oil sub in Shell, BP offshore crude

1 day ago DieselGasoil Comments Off on U.S. buyers of Venezuelan oil sub in Shell, BP offshore crude
NEW YORK (Reuters) – U.S. sanctions on Venezuela’s oil industry have made winners out of Royal Dutch Shell Plc and BP Plc, Gulf of Mexico offshore heavyweights, as refiners in need of substitutes are scooping up oil produced in the region. FILE PHOTO: An oil pumpjack painted with the colors of the Venezuelan flag is Read More

Global stocks tumble as bond markets sound U.S. recession warning

1 day ago DieselGasoil Comments Off on Global stocks tumble as bond markets sound U.S. recession warning
SYDNEY (Reuters) – Investors ditched shares on Monday and fled to the safety of bonds while the Japanese yen hovered near a six-week high as risk assets fell out of favor on growing fears about a U.S. recession, sending global yields plunging. FILE PHOTO: A man is reflected on an electronic board showing a graph Read More

Stocks tumble, bonds rally as U.S. recession risk flashes 'amber'

2 days ago DieselGasoil Comments Off on Stocks tumble, bonds rally as U.S. recession risk flashes 'amber'
SYDNEY (Reuters) – Investors dumped shares on Monday and fled to the safety of bonds while the Japanese yen hovered near a six-week high as risk assets fell out of favour on growing worries about an impending U.S. recession, sending global yields plunging. Women, dressed in ceremonial kimonos, look at an electronic board showing the Read More

Oil prices fall as markets brace for potential U.S. recession

2 days ago DieselGasoil Comments Off on Oil prices fall as markets brace for potential U.S. recession
SINGAPORE (Reuters) – Oil prices dropped on Monday as concerns of a sharp economic slowdown outweighed supply disruptions from OPEC’s production cutbacks and U.S. sanctions on Iran and Venezuela. FILE PHOTO: FILE PHOTO: An oil pump jack pumps oil in a field near Calgary, Alberta, Canada on July 21, 2014. REUTERS/Todd Korol/File Photo/File Photo Brent Read More