European Union member states are racing to reach an agreement on a plan to cap natural gas prices in time to deal with the cold winter months. After months of discussions, the bloc has been unable to reach an agreement.
In an effort to reach a consensus, energy ministers descended...
Oil prices continued to rise following news of another large decline in the volume of US crude inventories. The American Petroleum Institute reported a decline of 6.53 million barrels in crude stockpiles last week.
Following this news, West Texas Intermediate futures rose by approximately 2% to $89 per barrel. Aside...
Natural gas prices in the Permian Basin of West Texas are rushing toward zero following a production surge that is currently overwhelming pipeline networks and consequently creating a regional oversupply. Gas from the Waha area of the Permian basin traded at as little as 20 cents to 70 cents...
Big box retailer Target Corp announced on Thursday that it will be hiring 100,000 seasonal workers ahead of the busy holiday season in the final quarter of the year.
In the face of slowing economic activity, the US retailer made the decision to begin its festive deal earlier than usual,...
The United States will make an unprecedented release of oil from the Strategic Petroleum Reserve in an attempt to stop the recent surging of gas prices across the nation. The move was announced by U.S. President Joe Biden on Thursday in a speech from the White House.
According to Biden,...
Electricity and gas distributor Enel SpA has decided to accelerate its shift towards greener energy sources with an additional investment of $191 billion in the project. According to documents published on Wednesday, this indicates a 6% increase from the company's previous investment plan.
The Italian multinational gas manufacturer and distributor...
Saudi Arabia's state oil producer Aramco reported on Sunday its earnings for the third quarter. Fueled by rising crude oil prices and surging demand, Aramco's third-quarter net profit more than doubled, thereby earning the company its highest quarterly earnings since December 2019. This was also the strongest quarterly average...
Oil rose by 11% during the month of October, as consumption continues to outpace supply and fuel the sustained draining of global stockpiles.
As the ongoing worldwide shortage of natural gas continues to influence a boost in demand for oil products, there is a strong likelihood for the continued decline...
The Crown Prince of the Kingdom of Saudi Arabia announced on Saturday that the Gulf Arab nation will seek to eliminate carbon emissions by 2060. This will result in Saudi Arabia more than doubling its annual target for reducing net carbon emissions.
"The Kingdom of Saudi Arabia aims to reach...
With the global energy crisis triggering a spike in oil demand, Brent Oil reached a price of $85 per barrel for the first time since 2018. The demand for oil comes due to a mass shortage of gas and coal.
Brent futures in London rose by 1.3% to a price...