Platts to track Vancouver-West Coast oil freight rates
S&P Global's Platts commodities unit will introduce a daily freight...
S&P Global's Platts commodities unit will introduce a daily freight assessment in October for Aframax tankers transporting crude oil from Vancouver to the US West Coast. The move responds to surging crude shipments on that route following the startup of the Trans Mountain oil pipeline expansion.
Oil companies like Occidental Petroleum and Chevron are integrating AI...
Oil companies like Occidental Petroleum and Chevron are integrating AI and machine learning into their artificial lift systems to boost production and predict equipment failures, yet human expertise remains crucial for managing the complexities of well operations. Cost constraints, particularly with marginal wells, drive the industry to focus automation efforts on areas with the greatest impact, ensuring a strategic balance between technology investment and economic viability.
There’s still plenty of tension and concerns about regional warfare...
There’s still plenty of tension and concerns about regional warfare in the Middle East but for now, Israel and Hezbollah seem to have stepped back from the brink after exchanging attacks over the weekend. On Sunday, Israel sent 100 warplanes to take out thousands of Hezbollah rocket launchers in Lebanon that were pointed at Israel for an attack the militia said was retaliation for Israel killing one of its top commanders last month. Though both sides have said the conflict is ongoing, things remained quiet after the incident. Meanwhile, negotiators continue to try to help Israel and Hamas reach a deal for a cease-fire in Gaza, and Iran has vowed to retaliate for Israel’s killing of a Hamas leader in Tehran.
France’s president says Telegram founder’s arrest was not...
France’s president says Telegram founder’s arrest was not political. French President Emmanuel Macron defended the arrest of Telegram’s Russian-born CEO, Pavel Durov, at a French airport, saying France is committed to free speech and it was “in no way a political decision.” Prosecutors say the arrest was part of a wide-ranging investigation, opened in July, that touched on the messaging app’s role in crimes including child pornography, drug trafficking, and fraud. Under French law, they can detain Durov, who has not been named as the investigation’s target, for questioning until tomorrow. Telegram said Durov has nothing to hide.
Special Counsel Jack Smith asked an appeals court to revive the classified documents case against Donald Trump, saying Judge Aileen Cannon’s decision to dismiss the suit jeopardizes a longstanding government practice for appointing prosecutors.
Apple has announced “it’s glowtime” for a Sept. 9 event during which the company is expected to debut the iPhone 16.
Uber was fined 290 million euros ($347 million) by Dutch regulators for transferring driver data from the EU to the US. It’s one of the biggest fines ever issued under the EU’s data privacy law.
Edgar Bronfman withdrew his bid for Paramount, paving the way for the company to merge with Skydance as planned.
Ikea is piloting its own secondhand online marketplace to rival eBay and other resale sites, with the first tests taking place now in Oslo and Madrid.
Red Lobster will be led by a former P.F. Chang’s CEO if a court approves the seafood chain’s exit from bankruptcy.
U.S. Crude Oil Jumps More Than 3% on Libya Production Halt for Best Day in Two Weeks
U.S. crude oil futures gained 3% on Monday for the best day in two weeks,...
U.S. crude oil futures gained 3% on Monday for the best day in two weeks, amid reports of a production halt in Libya and after Israel and Hezbollah traded a barrage of strikes across the Lebanon border.
Libya’s eastern government in Benghazi said Monday that oil production and exports in the North African country would shut down, amid a dispute with the internationally recognized western government in Tripoli over who should lead the central bank.
The U.S. benchmark hit a session high of $77.60 per barrel, the highest level since Aug. 16.
Here are Monday’s closing energy prices:
West Texas Intermediate October contract: $77.42 per barrel, up $2.59, or 3.46%. Year to date, U.S. crude oil has gained 8.05%.
Brent October contract: $81.43 per barrel, up $2.41, or 3.05%. Year to date, the global benchmark has advanced 5.7%.
RBOB Gasoline September contract: $2.28 per gallon, little changed. Year to date, gasoline is ahead 8.4%.
Natural Gas September contract: $1.95 per thousand cubic feet, down more than 6 cents, or 3.26%. Year to date, gas is down 22.2%
