As COVID-19 vaccines are rolled out across the globe, trade will move back towards pre-pandemic levels and have an impact on the oil and shipping markets.
Oil prices fell in early trade on Wednesday after industry data showed U.S. crude inventories unexpectedly rose last week as a deep freeze in the southern states curbed demand from refineries that were forced to shut.
The deep freeze that forced widespread petrochemical shutdowns and force majeures the week of Feb. 15 was gone Feb. 22, but Texas Coast producers face lengthy inspections of plants before resuming production.
Oil and gas conglomerate China Petrochemical Corp. is doubling down on hydrogen with plans to build a network of fuel-cell refueling stations, despite low demand.
European shares trimmed early losses on Monday as comments from the ECB brought down treasury yields, though inflation expectations and profit-taking in technology stocks dragged the benchmark index lower.
Vakhtang Bochorishvili, the head of the ARMA’s asset management department, announced this to the Ukrainian News Agency.
Oil & Gas Sector Update: Gross Rent Multiplier Up As Freeze Hits Refineries; May Take Weeks To Restart: ICICI Securities
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FOB Arab Gulf 95 RON gasoline has strengthened as the market digested news of partial works at Saudi Aramco Total Refining and Petrochemical Co., or Satorp.
Global equities rose on Monday, but the mood among investors was cautious, as surging commodity prices and government bond yields continued to fan fears of a damaging rise in inflation.
Sraeli authorities are trying to locate the source of a suspected oil spill that has been described as one of the most severe ecological disasters to hit the country, threatening wildlife, forcing beaches to close and prompting a mass cleanup.