India’s Russian Coal Imports Set To Stutter

India’s imports of Russian thermal coal look set to fall for the first time in four months. A second consultancy, DBX Commodities, told Reuters that Indian shipments of power generation fuel should drop from 1.9 million tonnes in August to 1.5 million tons in September.
#DBXCommodities #Russian #Indian #India #News #Business #Economy

1 weeks ago

The Oil Market Isn’t Broken, It’s Just Responding To A Supply Surplus

Analysts at Standard Chartered say the market is “well-functioning” and the simple answer is a “sharp swing into surplus” the global oil market is currently in excess supply, with the U.S. Transferring an average 0.83 million barrels per day (mb/d) into commercial inventories in the third quarter.
#StandardChartered #News #Business #Markets

2 weeks ago

Europe’s Natural Gas Shortage Could Trigger A Food Crisis

Global governments are using every tool in their kits to curb rising inflation rates. Agricultural industry has been warning the rest of the world that food production is severely threatened. Commercial fertilizer plays an essential role in 40 to 60 percent of world's food production. Global agricultural soils are devastatingly depleted of nutrients, and with lower nutrient content.
#OilPrice #Europe #News #Business #Economy

3 weeks ago

Saudi Arabia Will Supply Full Oil Volumes To North Asian Refiners In October

Saudi Arabia will supply the full contractual volumes to at least three customers in North Asia. This was the first cut in Saudi official selling prices to its key export region, Asia, in four months. The second is the fear that demand would not be strong with concerns of economic slowdown and flash Covid lockdowns in China.
#OilPrice #Saudi #NorthAsian #SaudiArabia #News #Business #Economy

3 weeks ago

New UK Prime Minister Opposes Windfall Tax On Energy Companies

A 25% energy profits levy was announced at the end of may. The move has long been opposed by the industry, which argued that a windfall tax would add uncertainty to the UK tax regime.
#OilPrice #News #Business #Markets

3 weeks ago

Europe’s Reaction To The Energy Crisis Is Turning Into A ‘Ponzi Scheme’

The windfall tax and energy subsidies are only the beginning, it seems. But the final product might turn out to be much worse than a Ponzi scheme. The definition of a crisis is the prerogative of the same EU.
#OilPrice #Ponz #EnergyCrisis #Europe #News #Business #Economy

4 weeks ago

Bearish Sentiment Has Taken Hold Of Oil Markets

Despite this bearish sentiment, the looming embargo on Russian oil, the end of the U.S. SPR release, and strong winter demand could send oil higher. Oil dipped to the lowest level in six months, a level last seen before the Russian invasion of Ukraine. The balance of risk to the outlook now lies largely to the downside.
#OilPrice #Russian #Ukraine #News #Business #Markets

1 months ago

Saudi Minister Says OPEC+ Could Cut Production At Any Time

Saudi Energy Minister Prince Abdulaziz bin Salman dangled the threat of potential OPEC+ production cuts that could come at any time. The Prince described the markets as being in a state of “schizophrenia” and creating a “yo-yo” market that has lent a false sense of security.
#AbdulazizbinSalman #OilPrice #Saudi #News #Business #Economy

1 months ago

Germany Will Have Less Than 3 Months Of Gas If Russia Halts Supply

Germany will only have enough natural gas to cover two and a half months of consumption this winter if Russia suspends deliveries. Germany targets storage to be 85% full by the beginning of October and 95% full sites by the start of November. Germany reached in the middle of August target to have its natural gas storage 75% full, two weeks ahead of plans.
#OilPrice #Germany #News #Business #Economy

1 months ago