Crude oil futures rose, extending the tug of war between possible Russia-Ukraine peace deal that could end sanctions on Russian energy and potential Fed rate cut that could boost fuel demand
Crude oil futures fell for the fourth time in five sessions following reports that Ukraine had agreed to the core terms in the revised US proposal to end the Russia-Ukraine war.
Brent crude is forecast to average of $57/bbl-$58/bbl in 2026 and 2027 before potentially plunging into the $30s unless production cuts are implemented, JP Morgan analysts said.
Equinor plans to drill 250 oil and gas exploration wells in Norwegian waters over the next 10 years to fulfill a goal of sustaining production at 2020 levels in 2035, CEO Anders Opdahl said.
American Petroleum Institute reportedly shows a draw of 1.9 million barrels of oil in US commercial stockpiles for the week ending November 14, compared to previous week's 4.4M-barrel build.
The US Export-Import Bank will spend $100 billion to secure US supply chains for critical minerals, nuclear energy and liquefied natural gas, new chair John Jovanovic told Financial Times.
Barrick Mining and Mali's government have reached a verbal agreement in principle to resolve their dispute over the Loulo-Gounkoto gold mining complex, Reuters reported.
TotalEnergies CEO Patrick Pouyanne pushed back against accusations that the company has responsibilities in alleged killing of civilians four years ago at its Mozambique LNG project site.
Connecticut's Public Utilities Regulatory Authority voted to deny Eversource Energy's proposed $2.4 billion sale of its Aquarion Water subsidiary to a newly created quasi-public entity.
The American Petroleum Institute reportedly shows a larger than expected build of 4.4 million barrels of oil in US commercial stockpiles for the week ending November 14.