Tag Archives: crude

One of the world’s key crude routes, the Caspian Pipeline Consortium (CPC), suspended oil loading at its Black Sea marine terminal near Novorossiysk on Wednesday due to “critical” storm-caused damage to the equipment. Crude pumping has been reduced, with operations potentially fully halting in a day. “To date, loading at …

Global prices for crude oil saw a sharp increase on Thursday, extending the gains recorded during the previous session, as bloody unrest continues to sweep Kazakhstan, an OPEC+ oil producer. The global benchmark Brent crude futures rose 0.38% to $82.30 per barrel, while US West Texas Intermediate crude futures also …

The volume of crude sold reportedly amounted to about 1.1 million barrels. The returns would reportedly be sent to the US Victims of State Sponsored Terrorism Fund. “The US government sold the seized petroleum products pursuant to a court order. The net proceeds of that sale, $26,681,397.67 before interest, may …

As the Biden Administration considers ways to lower the price of gasoline in the United States, which is now at a seven-year high, it faces calls from Democrats to weigh all possibilities, including the “nuclear option” to reimpose a ban on US crude oil exports.    Analysts and industry professionals don’t …

In particular, Aramco increased pricing for its key Arab Light grade of crude for Asian customers in December to $2.70, up from $1.40. The world’s biggest oil producer set the Arab Light official selling price (OSP) to the United States at plus $1.75 per barrel over Argus Sour Crude Index, …

The cargo from the Liberian-flagged tanker MT Achilleas was unloaded in Houston, Texas and sold at around $55 a barrel, the Associated Press reported, citing court documents. The money went to an escrow fund, similar to proceeds from previous operations. The national statistics, published by the US Energy Information Agency, …

According to the latest data released by the US Energy Information Administration (EIA), the US’ daily imports of crude from Russia totaled nearly 23,000 million barrels, nearly doubling compared to the previous month. The surge in exports made Russia the country’s second biggest oil supplier after Canada, which shipped 139,869 …

That would be almost half the amount Saudi Arabia exports to China. An earlier report by Reuters from the beginning of the month said that China was buying record-high volumes of Iranian crude in anticipation of the Biden Administration lifting sanctions on Tehran. Even India, the report said, started planning …

“Americans and their allies are targeting the Syrian oil wealth and its tankers just like pirates,” Petroleum and Mineral Resources Minister Bassam Tomeh told state TV this week, adding that the move is designed to cripple Syria’s economy, which depends on oil revenues.  While US officials maintain the military presence …

China has never halted imports of Iranian crude completely, despite the US sanctions, with most shipments reportedly being indirect, officially identified as oil from the other Gulf states. The Islamic republic has shipped some 17.8 million tons of crude to Chinese ports over the past 14 months, with volumes hitting …