Following the imposition of the price cap and related curbs, a backlog of tankers waiting to haul oil through Turkey’s vital shipping straits built up amid a dispute over insurance cover. That now appears to be clearing, with a port agent tally on Sunday showing 19 tankers waiting to pass through the Bosphorus and Dardanelles … Read more
Meanwhile, Europe isn’t scrambling for crude. Russia’s invasion of Ukraine, which has stoked inflation, including for food and energy, has undermined European economies to the point where, as I suggested back in early November, the world can easily handle the loss of Russian barrels, at least for now.
Press play to listen to this article Voiced by artificial intelligence. On March 22 of 2021, several of the world’s most dangerous men descended on Beirut’s historic seaside Summerland Hotel — not to swim in the Mediterranean or explore the sumptuous resort’s “Le Beach Pop Up,” but to talk Turkey. The meeting was a secret … Read more
Chocolate and peanut butter go together; falling oil prices and Brazilian political uncertainty most certainly do not. Yet Petrobras stock may still be worth buying. Yes, that sounds like a terrible idea, at least at first glance. Petróleo Brasileiro, or Petrobras (ticker: PBR), as it is more commonly known, is the Brazilian national oil company, … Read more
“Energy security is number one, price is number two, sustainability is number three,” said Russell Hardy, chief executive officer at Vitol Group, the world’s top oil trader by volume. “That’s the short-term set of priorities. The long set of priorities haven’t changed, they’re the other way around.”
Sabotage cannot be ruled out as the cause of three leaks detected on two Russia-to-Germany Nord Stream gas pipelines, Danish Prime Minister Mette Frederiksen said on Tuesday. “We certainly cannot rule it out,” she said while on a visit to Poland to open the new Baltic Pipe linking Poland and Denmark with Norway’s offshore gas … Read more