Rigzone Oil & Gas Headlines
- Oil rose this week amid signs of a tightening physical market while traders continue to assess lingering Middle East risks.
- India has granted marine insurance approval to four Russian firms.
- Oil erased earlier losses to top $83 a barrel as a weaker dollar boosted commodities priced in the currency.
- Crude oil stocks in the U.S., not including the SPR, stood at 453.6 million barrels on April 19, according to the EIA.
- Traders are getting agitated again.
- 'Following last year's blockbuster $192 billion in U.S. upstream consolidation, 1Q24 would be on track to surpass that record with $51 billion in announced deals,' EIR noted.
- 'We are all aware of the human and economic cost of war, but … there is also price to pay for the climate,' Xeneta said.
- Oil fluctuated as traders weighed a larger-than-anticipated drop in US crude stockpiles against broader risk-off sentiment.
- 'Iran is likely to intensify its operations in more easily controlled territory, such as the Strait of Hormuz,' Dryad said.
- The merger is expected to potentially give Eni a leading position in the UK continental shelf.