Crude oil rallies above $70 as another tropical storm menaces Texas  Houston Chronicle View Full coverage on Google News
The latest system, Nicholas, poses a threat to coastal refineries and petrochemical...The latest system, Nicholas, poses a threat to coastal refineries and petrochemical...

Crude oil rallies above $70 as another tropical storm menaces Texas

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Oil prices ended largely unchanged on Tuesday as tropical storm Nicholas brought heavy rain and power outages in Texas but caused less damage to U.S. energy infrastructure than Hurricane Ida caused earlier this month.Oil prices ended largely unchanged on Tuesday as tropical storm Nicholas brought heavy rain and power outages in Texas but caused less damage to U.S. energy infrastructure than Hurricane Ida caused earlier this month.

Oil settles unchanged as latest storm spares U.S. energy sector | Reuters

Crude oil markets have rallied again during the trading session on Tuesday as we continue to see a lot of noisy behavior. The market has been bullish over the last couple of days, and quite frankly this point I do not see that changing.Crude oil markets have rallied again during the trading session on Tuesday as we continue to see a lot of noisy behavior. The market has been bullish over the last couple of days, and quite frankly this point I do not see that changing.

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In the wake of Hurricane Ida, oil spills—including 1 over 10 miles long—were soon spotted in the Gulf of Mexico. The exact cause of those spills is not always known. But currently, there are about 26,600 miles of active and no-longer-used (decommissioned) offshore oil and gas pipelines along the seafloor in the Gulf alone. How well are they protected from events like Ida? Today’s WatchBlog post explores.  Hurricanes and pipelinesIn the wake of Hurricane Ida, oil spills—including 1 over 10 miles long—were soon spotted in the Gulf of Mexico. The exact cause of those spills is not always known. But currently, there are about 26,600 miles of active and no-longer-used (decommissioned) offshore oil and gas pipelines along the seafloor in the Gulf alone. How well are they protected from events like Ida? Today’s WatchBlog post explores.  Hurricanes and pipelines

Oil Spills in The Wake of Hurricane Ida Highlight Need for Better Federal Oversight of Offshore Oil and Gas Pipelines | U.S. GAO

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Royal Dutch Shell is gearing up to restart oil pipelines off the U.S. Gulf Coast, potentially moving the region’s top driller one step closer to restoring some production shut by Hurricane Ida.Royal Dutch Shell is gearing up to restart oil pipelines off the U.S. Gulf Coast, potentially moving the region’s top driller one step closer to restoring some production shut by Hurricane Ida.

Shell preps key Gulf of Mexico pipeline for restart after hurricane Ida

After three consecutive months of declines due to the Delta variant, global oil demand is set to rebound with a 1.6-million-bpd jump in October and continue rising through the end of the yearAfter three consecutive months of declines due to the Delta variant, global oil demand is set to rebound with a 1.6-million-bpd jump in October and continue rising through the end of the year

IEA Sees Robust Oil Demand In October | OilPrice.com

Hurricane Ida, which stormed through Louisiana at the end of August, has led to oil supply losses of 30 million barrels so farHurricane Ida, which stormed through Louisiana at the end of August, has led to oil supply losses of 30 million barrels so far

IEA: Oil Supply Losses From Hurricane Ida Reach 30 Million Barrels | OilPrice.com

(Bloomberg) -- Oil rose after the regular trading session closed Tuesday when an industry group reported that weekly crude inventories and fuel inventories had decreased. Futures in New York rose about 0.5% after the industry-funded American Petroleum Institute reported crude stockpiles fell 5.44 million barrels a day, while gasoline and diesel combined decreased by a similar volume, according to people familiar with the matter. Earlier, oil settled little changed as investors tracked U.S. dolla(Bloomberg) -- Oil rose after the regular trading session closed Tuesday when an industry group reported that weekly crude inventories and fuel inventories had decreased. Futures in New York rose about 0.5% after the industry-funded American Petroleum Institute reported crude stockpiles fell 5.44 million barrels a day, while gasoline and diesel combined decreased by a similar volume, according to people familiar with the matter. Earlier, oil settled little changed as investors tracked U.S. dolla

Crude Oil Rallies Above $70 as Another Hurricane Menaces Texas

OPEC trims global oil demand forecast for last quarter of 2021, expects delay in recoveryOPEC trims global oil demand forecast for last quarter of 2021, expects delay in recovery

Oil at one-week high as US supply concerns dominate

Just as the Gulf Coast begins to recover from the destruction caused by Hurricane Ida, tropical storm Nicholas has now made landfall and is pushing oil prices higher on fears of more outagesJust as the Gulf Coast begins to recover from the destruction caused by Hurricane Ida, tropical storm Nicholas has now made landfall and is pushing oil prices higher on fears of more outages

Oil Prices Climb As Another Storm Hits The Gulf Coast | OilPrice.com

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Crude oil reaches a 6-week high as Hurricane Nicholas compounds Gulf Coast production woes left by Hurricane Ida.Crude oil reaches a 6-week high as Hurricane Nicholas compounds Gulf Coast production woes left by Hurricane Ida.

Brent Crude Outlook: Higher Oil Prices, Hurricane Nicholas & OPEC Revises Demand Forecast

Russia’s oil production is shrouded in mystery, with a lack of an official output report making its compliance with the OPEC+ agreement difficult to gaugeRussia’s oil production is shrouded in mystery, with a lack of an official output report making its compliance with the OPEC+ agreement difficult to gauge

How Much Oil Is Russia Really Pumping? | OilPrice.com

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OPEC+ producers have increased oil output but the cartel remains well below its agreed-upon quotasOPEC+ producers have increased oil output but the cartel remains well below its agreed-upon quotas

OPEC+ Raises Oil Production But Remains Compliant | OilPrice.com

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WTI crude oil settles up 73-cents to $70.45 WTI crude oil finished about 50-cents from the highs of the day but the settlement and intraday high were both the highest since August 2. By Adam ButtonWTI crude oil settles up 73-cents to $70.45 WTI crude oil finished about 50-cents from the highs of the day but the settlement and intraday high were both the highest since August 2.

Oil climbs 1%. Why Bank of America thinks it could hit $100 on cold weather

OPEC sprang a surprise even as natural gas prices soared, fueling high investor interest in oil and gas stocks.OPEC sprang a surprise even as natural gas prices soared, fueling high investor interest in oil and gas stocks.

Why Oil and Gas Stocks Sizzled Today | The Motley Fool

Rising demand for oil, especially in China and India, will outweigh the increasing appeal of electric cars and growth in renewable energy next year, the oil cartel said.Rising demand for oil, especially in China and India, will outweigh the increasing appeal of electric cars and growth in renewable energy next year, the oil cartel said.

www.nytimes.com

OPEC on Monday trimmed its world oil demand forecast for the last quarter of 2021 due to the Delta coronavirus variant.

OPEC expects Delta variant to delay oil demand growth - CGTN

As vaccination rates rise, the Covid-19 pandemic is expected to be better managed and economic activities and mobility will firmly return to pre-Covid-19 levels, the OPEC said in its monthly report on the oil marketAs vaccination rates rise, the Covid-19 pandemic is expected to be better managed and economic activities and mobility will firmly return to pre-Covid-19 levels, the OPEC said in its monthly report on the oil market

Oil demand to top pre-pandemic level next year: OPEC

Oil demand should bounce back sharply next month as vaccination rates rise, according to the International Energy Agency. Demand has fallen for three months runOil demand should bounce back sharply next month as vaccination rates rise, according to the International Energy Agency. Demand has fallen for three months run

www.thetimes.co.uk

The expectation that demand will recover as vaccine rollouts widen has also supported the marketThe expectation that demand will recover as vaccine rollouts widen has also supported the market

Oil rises after bigger than expected fall in US stocks

OPEC predicts demand for all fuel types to surpass pre-pandemic level in 2022OPEC predicts demand for all fuel types to surpass pre-pandemic level in 2022

OPEC predicts demand for all fuel types to surpass pre-pandemic level in 2022 — RT Business News

Oil rose after the regular trading session closed Tuesday when an industry group reported that weekly crude inventories and fuel inventories had decreased.

Oil rallies above US$70 as another hurricane menaces Texas - BNN Bloomberg

The Bureau of Safety and Environmental Enforcement publishes its latest production estimates following Ida.The Bureau of Safety and Environmental Enforcement publishes its latest production estimates following Ida.

How Much Gulf of Mexico Production is Still Offline?  | Rigzone

Nicholas is the second major storm to threaten the US Gulf region in recent weeks. Nicholas is the second major storm to threaten the US Gulf region in recent weeks.

Oil Scales Six-week High As Storm Nicholas Hits US Gulf

Nigeria’s capacity to improve its crude oil production despite a higher price regime, remains undermined by deteriorating production capacity and technical disruptions, even as the Organisation of Petroleum Exporting Countries ....Nigeria’s capacity to improve its crude oil production despite a higher price regime, remains undermined by deteriorating production capacity and technical disruptions, even as the Organisation of Petroleum Exporting Countries ....

Uncertainty trails Nigeria’s production despite OPEC projection | The Guardian Nigeria News - Nigeria and World News — Business — The Guardian Nigeria News – Nigeria and World News

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On the Multi Commodity Exchange, crude oil for the September delivery traded higher by Rs 46, or 0.89 per cent, at Rs 5,227 per barrel in 5,122 lots.On the Multi Commodity Exchange, crude oil for the September delivery traded higher by Rs 46, or 0.89 per cent, at Rs 5,227 per barrel in 5,122 lots.

Crude oil futures rise on spot demand - The Economic Times

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•Cartel’s data confirms Nigeria unable to meet August production quota •Group says country’s economic recovery constrained by inflation, illiquidity Emmanuel Addeh in Abuja and Peter Uzoho in Lagos…

OPEC Increases 2022 Global Oil Demand Forecast By 1mbpd | THISDAYLIVE

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Oil prices rose for a second session on Monday as concerns over U.S. output following damage from Hurricane Ida supported the market, along with expectations for higher demand. U.S. West Texas Intermediate (WTI) crude rose $1.16, or 1.567%, to $70.74. Brent crude rose 88 cents, or 1.18% to $73.74 a barrel. Both markets were at [Read more]Oil prices rose for a second session on Monday as concerns over U.S. output following damage from Hurricane Ida supported the market, along with expectations for higher demand. U.S. West Texas Intermediate (WTI) crude rose $1.16, or 1.567%, to $70.74. Brent crude rose 88 cents, or 1.18% to $73.74 a barrel. Both markets were at [Read more]

Oil rises for a second day as U.S. supply concerns dominate | BOE Report

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Oil prices could top $100 per barrel in the event of a significantly colder-than-usual winter, Bank of America analysts said in a note cited by Reuters.Oil prices could top $100 per barrel in the event of a significantly colder-than-usual winter, Bank of America analysts said in a note cited by Reuters.

Bank of America Predicts Oil Could Hit $100 per Barrel in Case of Severe Winter Cold Snap

By Liz Hampton Sept 13 (Reuters) – Royal Dutch Shell on Monday began evacuating staff from a U.S. Gulf of Mexico oil platform, and other energy companies began preparing for...

U.S. Energy Hub Faces Another Storm Hit

Oil futures climb Monday, with U.S. benchmark prices settling above $70 a barrel at their highest in nearly six weeks, and natural-gas futures rallies by...Oil futures climb Monday, with U.S. benchmark prices settling above $70 a barrel at their highest in nearly six weeks, and natural-gas futures rallies by...

U.S. oil benchmark tops $70 a barrel, natural-gas futures jump nearly 6% as U.S. production worries linger - MarketWatch

Most of the nine Louisiana refineries shut by Hurricane Ida have restarted or were restarting on Friday, nearly two weeks after the powerful storm came ashore, a Reuters survey shows. Refiners are coming back faster than oil production, a reverse of past storm recoveries. Just three of the nine refineries were completely idled, accounting for […]

Most Louisiana refineries have restarted but oil production lagging

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The investment bank said that crude was likely to lead an upward movement in commodities due to a strong demand and growing scarcity of supply.The investment bank said that crude was likely to lead an upward movement in commodities due to a strong demand and growing scarcity of supply.

Oil prices climb as crude rally predicted for autumn

COVID-19 clouding world oil demand prospects –OPEC - Punch Newspapers

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By Sharon Cho (Bloomberg) Oil rose to hits highest level in just under six weeks as investors tracked the slow restoration of supplies in the Gulf of Mexico and the...

Gulf Of Mexico Oil Still Hurting From Hurricane Ida

The Organization of the Petroleum Exporting Countries (OPEC) noted in its monthly report that it forecasts the world oil demand to exceed pre-pandemicThe Organization of the Petroleum Exporting Countries (OPEC) noted in its monthly report that it forecasts the world oil demand to exceed pre-pandemic

OPEC: World oil demand to exceed pre-pandemic levels in 2022

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(Bloomberg) -- Oil climbed above $70 a barrel after a run of three weekly gains as investors tracked the slow restoration of supplies in the Gulf of Mexico and the outlook for demand in the fourth quarter. West Texas Intermediate added 0.6% in early Asian trading after rallying 2.Oil climbed above $70 a barrel after a run of three weekly gains as investors tracked the slow restoration of supplies in the U.S.

Oil Extends Advance as U.S. Supply Is Slow to Return After Ida

After a three-month slide in global oil demand due to the spread of the Delta variant of COVID-19 and pandemic restrictions especially in Asia, vaccine roll-outs are set to power a rebound, the International Energy Agency (IEA) said on Tuesday. “Already signs are emerging of COVID cases abating with demand now expected to rebound by [Read more]After a three-month slide in global oil demand due to the spread of the Delta variant of COVID-19 and pandemic restrictions especially in Asia, vaccine roll-outs are set to power a rebound, the International Energy Agency (IEA) said on Tuesday. “Already signs are emerging of COVID cases abating with demand now expected to rebound by [Read more]

Vaccines set to unleash pent-up oil demand – IEA | BOE Report