Investing.com – US stocks possibly rose by nearly 13 million barrels last week in what could be the highest build since February, petroleum trade group API reported Tuesday.   A huge build was also seen in gasoline inventories for a second week in a row,  the weekly inventory report from the…

Investing.com – Government estimates on production matter, oil bulls are beginning to realize. Oil rallied hard in New York’s morning session on Thursday before US crude closed down for a third day in a row as the government reported a record high production for last week. Brent crude finished just…

By Julie Ingwersen CHICAGO (Reuters) – U.S. farmers are about halfway done planting winter wheat for harvest in 2024, but acreage is expected to remain stable or decrease from last year because of lower prices and farmers’ disenchantment with the crop after three years of drought. A smaller acreage base…

In a significant strategic move, Poland’s state energy company Orlen has acquired Gazprom (MCX:)’s stake in the Yamal pipeline, spanning 684 km across Poland. The acquisition, valued at 787 million zloty ($184 million), was approved by the Office of Competition and Consumer Protection (UOKiK) on Thursday. This development is part…

By Alex Lawler and Natalie Grover LONDON (Reuters) – The gap between two leading oil forecasters’ views on 2024 demand growth widened on Thursday, with the International Energy Agency (IEA) predicting a sharper slowdown while producer group OPEC stuck to expectations for buoyant China-led growth. The Organization of the Petroleum-Exporting…

By Isla Binnie (Reuters) – California’s new emissions laws could force companies to reveal more about their carbon footprint to the U.S. Securities and Exchange Commission (SEC), raising the risk of legal challenges to their climate claims, regulatory lawyers say. California Governor Gavin Newsom signed rules into law this month…

By Stephanie Kelly NEW YORK (Reuters) -Oil prices reversed early gains on Thursday in a volatile session, after a large build in stockpiles outweighed expectations that U.S. interest rates had peaked. futures settled up 18 cents to $86.00 per barrel. U.S. West Texas Intermediate crude fell 58 cents to $82.91…

Investing.com – US crude stockpiles jumped more than 10 million barrels last week, their most in eight months, as exports tumbled and refineries slowed processing of oil amid maintenance, while output from the world’s largest producer of the commodity hit a new record high of 13.2 million barrels per day,…

By Timothy Gardner and Daphne Psaledakis WASHINGTON (Reuters) – The U.S. on Thursday imposed the first sanctions on owners of tankers carrying Russian oil above the G7 price cap of $60 a barrel, one based in Turkey and one in the United Arab Emirates, in an effort to close loopholes…

By Nidal al-Mughrabi and Jonathan Saul GAZA/JERUSALEM (Reuters) – An Israeli invasion of Gaza will face an enemy that has built a formidable armoury with Iran’s help, dug a vast tunnel network to evade attackers and has shown in past ground wars it can exact a heavier toll on Israeli…