Petrol

Chevron beat first-quarter expectations as higher oil prices lifted upstream earnings, offsetting a sharp swing to losses in refining. Adjusted earnings came in at $1.41 per share, well above expectations. Upstream delivered $3.9 billion, up 4% year-on-year, as crude prices surged during the quarter

West Texas Intermediate (WTI) crude Oil eases on Friday, trimming part of the strong gains registered earlier this week as renewed diplomatic efforts to end the US-Iran war lift market sentiment.

Defying some analysts’ expectations, Kazakhstan has opted not to follow the United Arab Emirates in abandoning OPEC’s oil production quotas. The Kazakh Energy Ministry announced April 29 that “the issue of changing the format of the country’s participation in the alliance is not on the agenda.” Kaza

Russia remains Syria’s top oil supplier and has even boosted its sales so far this year despite the fact that the Middle Eastern country emerged from a 14-year-long civil war leaning West and deposing Russia-backed leader Bashar al-Assad. Syria’s imports of oil from Russia have jumped by about 75% s

BNY’s Bob Savage highlights that suspected FX intervention has driven a sharp Japanese Yen rebound, with the Ministry of Finance signaling readiness to act in both currency and crude oil futures. The focus is now on key USD/JPY levels around 155–158 as authorities seek to counter Yen weakness.

Higher oil prices drove the first-quarter adjusted earnings at ExxonMobil (NYSE: XOM) above the analyst estimates as the jump in prices more than offset lower oil and gas production in the Middle East and Kazakhstan. Exxon on Friday reported adjusted earnings excluding identified items of $4.9 billi

June WTI crude oil futures surged this week, with the contract trading at $105.88 Thursday night, up $11.48 or 12.16%. The weekly high is $110.93, while the low is $94.59. With Friday still ahead, the market has not closed the week yet, but the move has already been one of the strongest rallies in m

West Texas Intermediate (WTI), futures on NYMEX, trades calmly around $102.25 during the European trading session on Friday. The Oil price has turned flat after an almost two-week-long rally hit a pause near $107.35 on Thursday.

ING’s Chris Turner describes Sterling price action as confusing after the Bank of England’s latest communication. While he sees the BoE laying groundwork for a June hike, some investors interpreted the message as dovish, possibly due to oil-driven declines in GBP rates.

The USD/CAD pair extends its sideways consolidative price move through the first half of the European session and currently trades around the 1.3575-1.3570 region, or its lowest level since March 11.

Crude oil prices may have retreated from the highs reached on Thursday, but they are still set for a strong weekly gain. At the time of writing, Brent crude was trading at 112.10 per barrel, and West Texas Intermediate was trading at 106.30, with the gap between the two benchmarks shrinking once aga

Australia’s Woodside Energy is having trouble finding buyers for the liquefied natural gas it produces at its Louisiana LNG plant, Reuters has reported, citing unnamed sources. The reason is that Woodside is asking for higher liquefaction fees than other LNG exporters in the United States. Citing it

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $102.40 during the early European trading hours on Friday. The WTI price edges lower amid a stronger US Dollar (USD).

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Indian Oil Co. has hiked the price of liquefied petroleum gas for local industrial users and the price of jet fuel, but only for foreign airlines, Reuters has reported, citing a company statement. LPG prices for household consumers were kept unchanged. For industrial consumers, however, LPG will be