Plains All American Pipeline said on Aug. 2 it will tack on a fee for users of a new oil pipeline to pay for the cost of the Trump administration's tariffs on imported steel, with analysts and traders calling it the first U.S. energy pipeline operator to do so.
Saudi Arabia has cut its September price for its Arab Light grade for Asian customers by 75 cents/bbl versus August to a premium of $1.70/bbl to the Oman/Dubai average, state oil company Aramco said on Aug. 4.
U.S. West Texas Intermediate crude oil ended the session down $4.63 at $53.95, or 7.9%—the biggest percentage decline since February 2015.
According to a new report by Wood Mackenzie, Japan could lose its pole position as the world’s top LNG importer to China as early as 2022.
Political pressure and incidents of contaminated crude cut into Russia’s European dominance.
Despite lower supplies, crude oil prices have fallen from a six-month high above $75 a bbl in April to below $63 on July 5, pressured by concern about slowing economic growth
OPEC+ to extend cuts but Iran’s oil minister laments the growing influence of Russia and Saudi Arabia.