ENFF

Oil slides over 3% on Russian price cap talks, US gasoline build

EIA US gasoline stocks data shows higher-than-expected build G7 price cap on Russian oil could be above current trading level Chinese demand concerns weigh as COVID-19 cases surge Majority of Fed officials see rate hikes slowing soon HOUSTON, Nov 23 (Reuters) – Oil prices fell more than 3% on Wednesday, continuing a streak of volatile …

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Oil rises 1% as OPEC+ focus on supply cuts outweighs recession concerns

EU softens Russian oil price-cap plan -Bloomberg Saudi Arabia, other OPEC producers deny output hike talks Beijing shuts parks and museums as China’s COVID cases rise Coming up: API supply report at 4:30 pm EST (2130 GMT) NEW YORK, Nov 22 (Reuters) – Oil prices rose about 1% on Tuesday after top exporter Saudi Arabia …

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Qatar signs 27-year deal with China as LNG competition heats up

Kaabi says talks with other Chinese, European buyers ongoing Says buyers may take up to a 5% stake in expansion Says deal signals importance of secure long-term supply DOHA, Nov 21 (Reuters) – QatarEnergy has signed a 27-year deal to supply China’s Sinopec with liquefied natural gas (LNG), the longest such LNG agreement so far …

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Oil flows on Druzhba pipeline suspended in parts of Eastern Europe

BUDAPEST/PRAGUE, Nov 15 (Reuters) – Oil supply to parts of Eastern and Central Europe via a section of the Druzhba pipeline has been temporarily suspended, according to oil pipeline operators in Hungary and Slovakia. The extent of the disruption was not immediately clear, and came concurrent with an explosion in a village in eastern Poland …

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Buffett’s Berkshire discloses big Taiwan Semi stake

Nov 14 (Reuters) – Berkshire Hathaway Inc (BRKa.N) said it bought more than $4.1 billion of stock in Taiwan Semiconductor Manufacturing Co (2330.TW) , a rare significant foray into the technology sector by billionaire Warren Buffett’s conglomerate. In a Monday regulatory filing describing its US-listed equity investments as of Sept. 30, Berkshire said it owned …

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Oil stable below $100/bbl as market balances Chinese data

LONDON, Nov 7 (Reuters) – Oil prices were stable on Monday, hovering close to $100 a barrel as support from a weaker dollar and recovering Chinese crude imports met renewed demand concerns linked to China’s stringent COVID containment approach. Brent crude futures rose by 6 cents, or 0.06% to $98.63 a barrel at 1026 GMT. …

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Buffett’s Berkshire loses money as stocks, Hurricane Ian offset rising demand

Nov 5 (Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) on Saturday posted a $2.69 billion third-quarter loss as rising inflation, falling stock investments and a big loss from Hurricane Ian offset improvement in many of the conglomerate’s businesses. Operating profit nevertheless rose by 20%, topping analysts forecasts. Berkshire benefited from increased demand and prices …

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‘Massive scars’: Germany’s Uniper posts record 40 bln euro net loss

Includes 31 billion euros in expected gas losses Uniper has drawn 14 bln euros of KfW credit lines Russian unit draws possible buyers’ interest Shares down 3% FRANKFURT/DUESSELDORF, Nov 3 (Reuters) – Soon-to-be-nationalised gas importer Uniper (UN01.DE) reported a record 40 billion euro ($39.3 billion) net loss in the first nine months of this year, …

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BP joins rivals with bumper $8.2 bln profit

Natural gas trading boosts profit BP to buy back another $2.5 bln in shares US President Biden has urged sector to stop “war profiteering” LONDON, Nov 1 (Reuters) – BP (BP.L) more than doubled its third-quarter profit from a year earlier to $8.15 billion and expanded its share buybacks by $2.5 billion, joining rivals in …

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Biden calls on oil, gas companies to stop ‘war profiteering,’ threatens windfall tax

WASHINGTON, Oct 31 (Reuters) – US President Joe Biden on Monday called on oil and gas companies to use their record profits to lower costs for Americans and increase production, or pay a higher tax rate, as he battles high pump prices with elections coming in a week. In remarks, Biden at the White House, …

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