Oil
![Oil](/cache/08-22/price-00167.bf922295.jpg)
2022, August, 4, 10:45:00
RUSSIAN OIL WITHOUT LIMITS
While the U.S. and European Union have already moved to ban imports of Russian oil into their ports, officials are now scrambling to curb Russia’s revenue from its oil sales globally and also avoid soaring energy prices during a time of high inflation.
![Oil](/cache/08-22/price-00172.cbc83e3b.jpg)
2022, August, 4, 10:40:00
EUROPE WILL PAY MORE
Energy consumer prices are rising at an annual rate of nearly 40 per cent in the eurozone and 57 per cent in the UK, reflecting the surge in wholesale gas and oil prices after Russia’s invasion of Ukraine. That is drastically eating into households’ disposable income.
![Oil](/cache/08-22/price-00170.e81047c9.jpg)
2022, August, 4, 10:35:00
GERMAN ENERGY IS EXPENSIVE
The incentive to reduce gas consumption is huge after Putin reduced supplies to Germany via the Nord Steam 1 pipeline. The Dutch TTF gas contract, a European benchmark, is trading above 205 euros ($209) per megawatt hour, 10 times its average in the decade through 2020 and equivalent to about $350 per barrel of oil.
![Oil](/cache/08-22/europe-038.f165d4ba.jpg)
2022, August, 4, 10:30:00
EUROPE NEED OIL GAS INVESTMENT
TotalEnergies said it would boost spending on short-cycle projects this year to help ease Europe's growing energy supply crunch. It expects its full-year capital spending to hit $16 billion in 2022 as it hopes to increase its sources of European natural gas and produce more LNG in the coming months.
![Oil](/cache/08-22/usa-0159.4965c3a8.jpg)
2022, August, 4, 10:15:00
U.S. OIL INVENTORIES UP BY 4.5 MB TO 426.6 MB
U.S. commercial crude oil inventories increased by 4.5 million barrels to 426.6 million barrels.
![Oil](/cache/08-22/price-00169.762727f4.jpg)
2022, August, 3, 12:45:00
OIL PRICE: BRENT ABOVE $99, WTI ABOVE $93
Brent were down $1.34, or 1.3%, at $99.20 a barrel, WTI fell $1.28, or 1.4%, to $93.14 a barrel.
![Oil](/cache/08-22/price-00157.0564c66f.jpg)
2022, August, 3, 12:40:00
OPEC OIL PRICE: $106.80
The price of OPEC basket of thirteen crudes stood at $106.80 a barrel
![Oil](/cache/08-22/opec-025.99d9c1e5.jpg)
2022, August, 3, 12:35:00
NEW OPEC SECRETARY GENERAL
His Excellency Haitham Al Ghais of Kuwait took office as Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) at the Organization’s Secretariat in Vienna, Austria.
![Oil](/cache/08-22/opec-026.71848890.jpg)
2022, August, 3, 12:25:00
OPEC+ PRODUCTION IS STABLE
The Joint Technical Committee of OPEC+, which includes Russia, trimmed its forecast for a surplus in the oil market this year by 200,000 barrels per day to 800,000 bpd
![Oil](/cache/08-22/europe-036.84bcdee1.jpg)
2022, August, 3, 12:20:00
RUSSIAN DIESEL FOR EUROPE UP
The region imported almost 700,000 barrels a day of the fuel from Russia last month, higher than the previous month and a 22 per cent increase compared with July last year
![Oil](/cache/08-22/price-00168.d4dc4c59.jpg)
2022, August, 2, 12:40:00
OIL PRICE: BRENT NEAR $100, WTI ABOVE $93
Brent was down $1.40, or 1.4%, to $98.63 a barrel, WTI fell $1.00, or 1.1%, to $92.89.
![Oil](/cache/08-22/price-00162.ce845409.jpg)
2022, August, 2, 12:35:00
OPEC OIL PRICE: $110.9
The price of OPEC basket of thirteen crudes stood at $110.90 a barrel
![Oil](/cache/08-22/russia-0156.1d785a3c.jpg)
2022, August, 2, 12:25:00
RUSSIAN OIL EXPORTS UP
The boom in STS activity involving Russian crude came as Moscow's seaborne oil exports defied Western sanctions to hit post-pandemic highs of 4 million b/d in April 2022.
![Oil](/cache/08-22/price-00161.2a8d6fe3.jpg)
2022, August, 1, 11:15:00
OIL PRICE: BRENT ABOVE $103, WTI ABOVE $97
Brent were down 82 cents, or 0.8%, at $103.15 a barrel, WTI was at $97.44 a barrel, down $1.18, or 1.2%.
![Oil](/cache/08-22/price-00163.ce81ffb1.jpg)
2022, August, 1, 11:10:00
OPEC OIL PRICE: $110.84
The price of OPEC basket of thirteen crudes stood at $110.84 a barrel