This is biggest advance in crude oil since January 2009. The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice. Central Bank Digital Currencies and the Global Monetary Reset (part of “The Great Reset”), CV19 VACCINE : Medical Ethics , "Do no harm", “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova, Oil Is Key In Russia’s Rapprochement With Azerbaijan, The 'Biggest Ever' Flotilla Of Iranian Tankers Is En Route To Venezuela, Access to over 5000 premium energy and investment articles, Weekly updates from one of the world's top traders, An exclusive report on the next trillion dollar energy investment sector. . A fleet of around 20 tankers laden with U.S. crude oil is expected to leave for Asia this month as the region continues to outpace the rest of the world in its recovery from the Covid-19 pandemic. We will not share your email address.You can unsubscribe at any time. That is a matter of pride for Putin himself and a key aspect of his appeal to Russian elites…, When Vladimir Putin was given a dire forecast of the economy under the cloud of a crippling coronavirus pandemic and a sharp fall in global demand for petroleum,…, The United States says it has imposed sanctions against 20 companies based in Iran and Iraq, along with officials and other individuals there who are accused of supporting…, Saudi Arabia’s oil and gas giant, Aramco, has been given the go-ahead to launch the Jafurah shale gas field project, which will be the biggest shale gas development outside the…, The story of Russia turning off the gas to punish Ukraine for some perceived indignity will be familiar to most Eurasianet readers. Crude oil peaks at $49.25/barrel The Sun News, Nigeria 20:25 4-Dec-20 December 2020 week one fuel price – all prices up Paul Tan's Automotive News 20:19 4-Dec-20 This 20-minute egg roll in a bowl is perfect for busy weeknights Mashed 20:12 4-Dec-20 2020-12-02 08:23:00 Crude oil price slide on sharp uptick in coronavirus cases globally By Florence Tan SINGAPORE (Reuters) - Oil prices fell more than 3% on Monday on worries a swathe of coronavirus lockdowns across Europe will weaken fuel demand, while traders braced for turbulence during the U.S. presidential election week. Learn how to navigate energy markets. There was an explosion at South Africa's second-largest crude oil refinery in Durban on Friday morning, a local metropolitan police official told Reuters, adding it … Oil analysts see battle for Asian market ahead of peak demand | News. On Friday, Brent crude futures, the international benchmark, rose to just shy of $50 a barrel, a key level that could signal a sustainable return for oil companies. Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction. BUT . . According to the International Maritime Bureau (IMB), global pirate attacks plunged to a 25-year low, with…, Aug 07, 2020 at 13:43 | Global Risk Insights, May 25 marked the 39th anniversary of the founding of the Gulf Cooperation Council (GCC). Polymerupdate provides Real time, International News and Prices for all Polymers, Petrochemicals and Solvents on a Daily Basis Polymer Exchange. . Central Bank Digital Currencies and the Global Monetary Reset (part of “The Great Reset”), CV19 VACCINE : Medical Ethics , "Do no harm", “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova, UAE Oil Is A Vital Geopolitical Weapon Against China's Middle East Expansion, Why Biden’s Approach To Venezuela Is So Important For Oil Markets. Briefly Became Net Petroleum Importer This Year, New Study Links Texas Oil Refineries To Elevated Cancer Risk, Tesla To Join S&P 500 With Full Market Cap On December 21, U.S. Senate Approves Trump’s FERC Nominees, The World’s First Trial Of Green Hydrogen Heating, OPEC+ Forced To Reschedule Meeting As Disagreements Persist, Saudi Arabia Expected To Increase Oil Prices To Asia, U.S. To Blacklist Chinese Oil Giant Due To Military Ties, Islamic State Claims Attack On Iraqi Refinery, Saudi Arabia Bombs Houthi Rebels In Response To Aramco Attack, How China Is Racing To Expand Its Global Energy Influence, U.S. Presidential Elections Status - Electoral Votes, ICE Engines Hear to Stay Regardless of War Against. More reforms in offing to raise private participation in oil, gas fields, says Oil Secy West Texas Intermediate crude was up 1.82 percent quoting at $46.47 per barrel, while Brent crude, the London-based international benchmark soared 1.81 percent to $49.59 per barrel. . A bipartisan group of US senators has expressed its intent to put another spoke…, May 29, 2020 at 17:13 | Vanand Meliksetian, In the world of energy geopolitics and economics are closely linked to each other. . OPEC Members Are Being Forced To Compensate For Missed Targets, The cargoes of Iranian gasoline that the United States seized more than a month ago continue to idle off the U.S. Gulf Coast amid a court battle over…, Iraq is debating whether to ask to be exempted from the oil production cuts OPEC+ agreed on this April. Ship’s AIS is off during last 43 hours, as of 1440 UTC Nov 25. Oil - US Crude IG Client Sentiment: Our data shows traders are now net-long Oil - US Crude for the first time since Nov 17, 2020 when Oil - US Crude traded near 4,158.50. Brent crude, the international gauge for oil prices, may be overhauled to reflect the growing importance of U.S. exports in global energy markets. Polymerupdate provides Real time, International News and Prices for all Polymers , Petrochemicals and Solvents on a Daily Basis Intraday Trade : Crude Oil Crude oil prices & gas price charts. Merchant of Record: A Media Solutions trading as Oilprice.com, Tesla Cashes In On Stock Price Explosion With Another $5B Share Sale, Asia Free Trade Deal Widens Oil Supply Channels To China, California Is The Top U.S. Net Importer Of Electricity, The UK Now Has Its First EV-Only Charging Station, Next OPEC+ Ministerial Meeting Reportedly Set For January 4, Iraq’s Oil Minister Sees Oil Breaking $50 In Early 2021, New Activist Investor Wants Exxon To Invest More In Clean Energy, Strike Could Shut Down All Ports In OPEC Producer Nigeria, France’s Total Looks To Sell Its Stake In Kurdistan Oilfield, Share Of EV Registrations In UK Jumps To 9.1% In November, IEA: Pandemic Slows Energy Efficiency Race, Iran's Foreign Minister: "No Renegotiations On Nuclear Deal With Biden Period", Alaska’s Oil Exports Double Amid Strong Chinese Demand, Oil Major Chevron Slashes Spending Plans Following COVID Crisis, Lithuanians Urged To Stockpile Food Amid Reports Of Nuclear Power Incident, Saudi Oil Exports To U.S. Slump To 35-Year Low, Venezuela’s Gasoline Shortage Is Worsening, Venezuela’s Oil Exports Double in November As Mysterious New Buyers Emerge, U.S. Coal Output Capacity Has Plunged 28% Since 2009 Peak, Construction Of Line 3 Oil Pipeline Begins In Minnesota, Libya Moves Closer To Resolving Quarrel Over Oil Revenues, Mexico Leaves OPEC Behind, Pockets Billions From Oil Hedge, Oil Price Rally Reverses As Inventories Balloon, Turkey Halts Mediterranean Oil, Gas Survey On EU Sanctions Threat, U.S. 5 Dec, 2020, 06.07 PM. Geopolitics and world news analysis. The biggest thing moving the market this week continues to be the China-originating coronavirus as flight cancellations pick up momentum, cutting down massively on jet fuel demand, while…, Washington’s move to ban Iranians from U.S. trade and investment visas has generated plenty of headlines, but the move is largely meaningless and…, Global miners will have to get ready to deal with the increasing threat from civil unrest, following last year’s succession of dramatic — and in several cases unforeseen — social…, Jan 17, 2020 at 15:55 | Vanand Meliksetian, Russia under President Putin has regained some of the global importance that it lost after the breakup of the Soviet Union. Biden said he won't make CV19 vaccine mandatory . Saudi Arabian state oil giant Aramco has raised the January price for its Arab light crude to Asia to $0.30 a barrel over Oman/Dubai crude, up $0.80 from December, a company document showed. Then they put their foot down: start…, It is difficult to surprise anyone in today’s world with another set of sanction-slapping. China’s crude oil output edged up 1.4 percent year-on-year to 16.41 million metric tons in October, retreating from an increase of 2.4 percent registered in September, official data showed. Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction. . Learn how energy insiders think. Across the Gulf, the occasion was welcomed as an opportunity to reflect on…, It’s been a wild and bumpy ride for OPEC+ this year. The consortium, consisting of the traditional members of the Organization of the Petroleum Exporting Countries plus oil…, First, they said it nicely: play along and cut to your quotas, or we’ll all suffer low oil prices for longer. Since then, the Chang’e 4 probe and the Yutu-2 rover it carried onboard have been…, Market Movers Our International geopolitical news section looks at global events and the impact they have on various regions. It's the first time in history an oil futures contract has traded at a negative price. Oil price charts for Brent Crude, WTI & oil futures. Receive our cutting-edge 3-part investor education series for FREE. This was almost disbelievingly acknowledged by some…, As much as Russia’s dealings with its neighbors are predominantly perceived as an exercise in brandishing the good old “energy weapon”, Moscow has been having a hard time…, Russian President Vladimir Putin refuses to yield under pressure. Initially set at 9.7 million bpd, the cuts have now been…, The year 2019 marked a crucial milestone in the fight against global maritime piracy. . Saudi Arabia raises official January crude oil price Jerusalem Post 10:27 Saudis Raise Crude Pricing to Asia as Vaccines Buoy Oil Market BNN Bloomberg 10:06 WTI Crude Oil Speculators Edged Bullish Bets Lower After Strong Run Investing.com 08:33 Crew are safe. Briefly Became Net Petroleum Importer This Year, New Study Links Texas Oil Refineries To Elevated Cancer Risk, Tesla To Join S&P 500 With Full Market Cap On December 21, U.S. Senate Approves Trump’s FERC Nominees, The World’s First Trial Of Green Hydrogen Heating, OPEC+ Forced To Reschedule Meeting As Disagreements Persist, Saudi Arabia Expected To Increase Oil Prices To Asia, U.S. To Blacklist Chinese Oil Giant Due To Military Ties, Islamic State Claims Attack On Iraqi Refinery, Saudi Arabia Bombs Houthi Rebels In Response To Aramco Attack, How China Is Racing To Expand Its Global Energy Influence, U.S. Presidential Elections Status - Electoral Votes, ICE Engines Hear to Stay Regardless of War Against. OPEC Members Are Being Forced To Compensate For Missed Targets. In the US, crude oil sellers are paying buyers to take the 'black gold' off their hands. During the Cold War, Moscow had a significant presence…, The Real Reason Why Tesla Is Heading Towards A Trillion-Dollar Valuation, The Next Generation Of Energy Giants Aren’t Pumping Oil, How China Took Control Of Exxon’s Supergiant Iraqi Oilfield, OPEC+ Finally Reaches Deal On 2021 Oil Output Cuts, The Worrying Truth About The New OPEC+ Agreement, The EV Revolution Could Create 20 Million New Jobs, Why The Oil Industry Is Set To Thrive For Decades To Come, The True Cost Of The Global Energy Transition. Energy news covering oil, petroleum, natural gas and investment advice The international benchmark for oil prices, Brent Crude futures, were up 0.1% to $46.09 a barrel on Tuesday after closing 2% higher on the previous day and 5% in the previous week. Start your risk free trial today to receive: A couple of recent developments indicate that the energy paths of Russia and Azerbaijan, erstwhile direct competitors, are indeed converging, Iraq will draft its budget based on an average oil price of $42 per barrel for next year, oil minister Ihsan Abdul Jabbar Ismail said this weekend at an event in Baghdad, The daily American military newspaper Stars & Stripes alongside Bloomberg reports this weekend that Iran "is sending its biggest fleet yet of tankers to Venezuela in defiance of U.S. sanctions. . The international crude oil price of the Indian basket, computed by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas, fell to USD 46.97 per barrel on Wednesday, compared to USD 49.22 per barrel on the previous publishing day. After rallying in the last few weeks, oil prices were down for a second consecutive day early on Tuesday as…, Major energy importer India and one of the world’s top liquefied natural gas (LNG) exporters, Qatar, agreed on Tuesday to…, China’s record-high imports from earlier this year continued to slow down last month along with other commodity imports, as demand…, OPEC+ appears to have played its role perfectly in the market, with oil prices steadily climbing as the industry appears…. Aframax crude oil tanker AGRARI on Nov 25 was reportedly hit by a blast and suffered hull breach above waterline in Red sea at Al Shuqaiq, Saudi Arabia, while being at anchor or moored at terminal. International Business News: Oil jumped by almost 10% on Monday for its biggest daily gain in almost six months after news of a highly effective Pfizer vaccine against Covid-19 a Who Will Foot The $40-Trillion Energy Transition Bill? The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice. As the pandemic brought about a historic slump in crude demand, a string of oil majors earlier this year predicted peak oil demand happening within the decade. Merchant of Record: A Media Solutions trading as Oilprice.com, Tesla Cashes In On Stock Price Explosion With Another $5B Share Sale, Asia Free Trade Deal Widens Oil Supply Channels To China, California Is The Top U.S. Net Importer Of Electricity, The UK Now Has Its First EV-Only Charging Station, Next OPEC+ Ministerial Meeting Reportedly Set For January 4, Iraq’s Oil Minister Sees Oil Breaking $50 In Early 2021, New Activist Investor Wants Exxon To Invest More In Clean Energy, Strike Could Shut Down All Ports In OPEC Producer Nigeria, France’s Total Looks To Sell Its Stake In Kurdistan Oilfield, Share Of EV Registrations In UK Jumps To 9.1% In November, IEA: Pandemic Slows Energy Efficiency Race, Iran's Foreign Minister: "No Renegotiations On Nuclear Deal With Biden Period", Alaska’s Oil Exports Double Amid Strong Chinese Demand, Oil Major Chevron Slashes Spending Plans Following COVID Crisis, Lithuanians Urged To Stockpile Food Amid Reports Of Nuclear Power Incident, Saudi Oil Exports To U.S. Slump To 35-Year Low, Venezuela’s Gasoline Shortage Is Worsening, Venezuela’s Oil Exports Double in November As Mysterious New Buyers Emerge, U.S. Coal Output Capacity Has Plunged 28% Since 2009 Peak, Construction Of Line 3 Oil Pipeline Begins In Minnesota, Libya Moves Closer To Resolving Quarrel Over Oil Revenues, Mexico Leaves OPEC Behind, Pockets Billions From Oil Hedge, Oil Price Rally Reverses As Inventories Balloon, Turkey Halts Mediterranean Oil, Gas Survey On EU Sanctions Threat, U.S. Biden said he won't make CV19 vaccine mandatory . Who Will Foot The $40-Trillion Energy Transition Bill? Home / HEADLINES / Purchase of Crude Oil from International Market Purchase of Crude Oil from International Market Taking advantage of the low crude oil prices in international market, India purchased 16.71 million barrels (mbbl) of crude in April – May, 2020 and filled all the three Strategic Petroleum Reserves created at Vishakhapatnam, Mangalore and Padur. The Strait of Hormuz, the world's no.1 oil chokepoint, has been at the centre of a geopolitical game of chess for a long time, but which alternatives are there to this bottleneck? Somewhat less known is the story of…, One year ago in January, a Chinese robot landed on the dark side of the moon. International crude oil prices have risen 19 per cent in the last four trading session as weakness in dollar helped commodities. Reports say it was allegedly, a mine blast. BUT . The exploitation of oil and gas reserves is a major source of income for…, May 25, 2020 at 16:58 | Gregory R. Copley, Mid-2020 saw the world at war, actual strategic war as far as the Forbidden Palace in Beijing was concerned. Global crude oil price of Indian basket drops to $46.97/barrel . International Crude Oil Brokerage Group (ICOB Group) provides highly credible and committed global crude oil, refined and related products buyers and seller brokers and facilitators. Prime / Virgin ... Crude oil prices firm up on Friday. Geopolitical news section looks at global events and the impact they have on various crude oil international news... Biggest advance in crude oil sellers are paying buyers to take the gold! Have on various regions advance in crude oil sellers are paying buyers to take the 'black gold off. 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