Why the U.S. oil market is more 'vulnerable’ now than it was in 2005 with Hurricane Katrina

Since Katrina, one of the most devastating hurricanes in U.was in the third decade of a ban on exports of U.

Iran tensions boost oil prices for the week, but Tropical Storm Barry provides little support

navy quashes Iranian attempt to block tanker Meanwhile, global demand for OPEC oil looks likely to fall to its lowest in over 16 years as the U.The IEA said demand from the Organization of the Petroleum Exporting Countries in the first quarter of 2020 will fall to 28 million barrels a day.

Oil struggles for direction as worrisome demand picture persists

6% for last week, according to Dow Jones Market data.8% for last week.

U.S. Blacklists Cuban State-Run Oil Company Over Venezuela

The U.imposed sanctions on the Cuban state oil import and export company, alleging they continue to import oil from Venezuela.

OPEC, allies waging a battle to keep oil prices supported amid trade tensions

The output cuts will help stabilize the market and support prices as trade uncertainties persist.Given the demand concerns, “the only way to firm and stabilize oil is with cuts to production,” says Marc Bruner, CEO of natural-resource firm Fortem Resources.

Gibraltar Seizes Syria-Bound Tanker Thought to Be Carrying Iranian Oil

Middle East|Gibraltar Seizes Syria-Bound Tanker Thought to Be Carrying Iranian OilImageThe Grace 1, a Panama-registered supertanker, on Thursday near Gibraltar.CreditCreditReutersLONDON — The authorities in Gibraltar on Thursday detained a supertanker that they said was carrying crude oil to Syria, a violation of European Union sanctions against Syria.

Oil Edges Higher, as OPEC and Allies Agree to Extend Cuts

As part of President Trump’s efforts to rebalance trade relationships, he has imposed tariffs on almost every country around the world.WSJ’s Josh Zumbrun explains where we stand with our largest trading partners.

Indian oil companies’ output from foreign assets up

17 AM ISTReutersA participating interest in foreign oilfields gives Indian companies the ownership of the oil and gas produced from such fields in proportion to their stakes.New Delhi: Oil and gas output from Indian assets overseas is roaring while domestic production is on a decline.

OPEC to Keep Propping Up Oil Prices by Extending Production Cuts Into ’20

Business|OPEC to Keep Propping Up Oil Prices by Extending Production Cuts Into ’20ImageA natural gas refinery at the South Pars gas field in Asaluyeh, Iran.Without these measures, “you would have seen a collapse in prices,” said Joseph McMonigle, a senior policy analyst at the market research firm Hedgeye.

PM Narendra Modi seeks steady oil supplies from Saudi Arabia amid Gulf tensions

During his visit, India strongly raised the issue of Pakistan-sponsored terrorism and discussed deepening cooperation in counter-terrorism.58 AM ISTAgenciesModi, who is in Japan for the G20 Summit, met with the Saudi Prince on the margins of the summit after the informal BRICS leaders' meeting.

China snubs US sanctions on Iranian oil exports

17 PM ISTAP"For us energy security is important and the importation of oil is important to Chinese energy security and also to the livelihood of the people," said a Chinese minister.Vienna: China said Friday it would import Iranian oil in defiance of US sanctions on Tehran, a day before US and Chinese leaders are to meet to try to resolve thorny trade disputes.

Iran oil imports to be guided by India’s energy interests

43 AM ISTAgenciesIndian oil companies have already taken the decision not to import more oil from Iran after the US waivers ran out on May 2.The Iranian situation will be a key discussion item on the agenda during talks between US secretary of state Mike Pompeo and his Indian counterpart, S Jaishankar, in New Delhi on Wednesday.

U.S. Oil Exports Rising Amid Middle Eastern Turmoil

President Trump signed an executive order imposing new sanctions on Iran, including against its supreme leader, saying they would deny Iran and its allies “access to key financial resources and support." Photo: GettyU.

Rising Iran-US tension revives India’s oil worry

But this can change with an extended period of oil market volatility and high prices.Reports by rating agencies reckon every $10 per barrel increase in crude prices shaves off 0.

Vedanta shortlists Lloyd’s Register for managing oil and gas blocks

Jun 20, 2019, 07.17 PM ISTGetty ImagesVedanta has already received Petroleum Exploration Licenses (PEL) for 11 of the 41 blocksNEW DELHI: Vedanta has shortlisted Lloyd’s Register for integrated project management of the 41 oil and gas blocks it was awarded under Open Acreage License Policy (OALP), the company said in a statement.

The Oil Market Shows It Can Take a Punch

The Persian Gulf crisis has not ignited a major price spike, thanks to growing oil production in the U.Analysts say this could stem from profound changes that have occurred in oil markets in recent years.

On Ethanol, Big Corn Beats Big Oil

They are meant to come up with a plan that could make further changes to ethanol policies that would benefit farmers.gasoline contains 10% ethanol thanks to the Renewable Fuel Standard, updated during President George W.

Oil prices retreat after their recent rally, even as U.S. crude supplies post first decline in 3 weeks

“The biggest catalyst for crude oil prices will be driven by fiscal policy—not monetary policy.” Providing an earlier, but temporary boost to oil prices, the Energy Information Administration reported Wednesday that U.

The Week in Business: Oil Tankers Are Under Attack, and the Grocery-Delivery Battle Heats Up

On to the top business news!Dangerous WatersOil prices ticked up after two tankers were attacked in the Gulf of Oman, a shipping gateway for much of the world’s petroleum.

Oil climbs as Strait of Hormuz stays in focus, but weaker demand prospects push prices lower for the week

In a report Friday, the International Energy Agency cut its global oil demand growth forecast and said there’s “plentiful’ supply to meet that growth.In closely watched oil-market report out Friday, the IEA downgraded its 2019 forecast for global oil demand for a second straight month, citing, in part, a global economic slowdown.