Crude oil
Oil steady as U.S. default risk offsets demand outlook
Oil prices were steady as caution relating to U.S. debt ceiling talks dragged on optimism over demand later in the year and offset support from lower supplies from Canada and OPEC+ producers.
Nigeria commissions Dangote refinery, seeks to end fuel imports
Nigeria commissioned Dangote Refinery amid hopes of transforming the country into a net exporter of petroleum products, but analysts said securing crude supplies could affect it achieving full production this year.
Bangladesh struggling to pay for fuel due to dollar shortage, letters show
Bangladesh is struggling to pay for imported fuel because of a dollar shortage, letters from the state petroleum firm show, with it warning of an "alarming decrease" in fuel reserves.
Indian Oil Corp: Middle East deals squeezed out by Russian crude
The chairman of Indian Oil Corporation, the country's top refiner by capacity, said he remained committed to term contracts with the Middle East but spot purchases from the region have fallen as more Russian crude has been imported.
Asia to drive oil demand growth in second half, says Vitol
Asia will lead oil demand growth of around 2 million bpd in the second half of the year, a senior executive at Vitol said, an increase that could potentially lead to a shortage of supply and drive up prices.
Rare shipment of U.S. oil heads to South Africa for Glencore refinery
A shipment of U.S. oil is headed to South Africa for the first time in two years and destined for a Glencore-owned refinery in Cape Town that has restarted operations after an explosion shuttered it in 2020, according to ship tracking data and a source.
Berkshire Hathaway boosts stake in Occidental Petroleum to 24.4%
Berkshire Hathaway Inc said it had acquired more shares of Occidental Petroleum Corp, boosting its stake in the oil company to 24.4%.
Oil rebounds on fading risk of U.S. debt default
Oil prices rebounded from losses of more than 1% the previous day as investors turned cautiously optimistic over the fading risk of a U.S. debt default.
Oil prices slide 2% as strong US economic data boosts dollar
Oil prices slid about 2% after solid U.S. economic data spurred the dollar to a two-month high on growing expectations the U.S. Federal Reserve could raise interest rates again in June.
India plans to fill Mangalore SPR with 5.5 MM barrels of oil after Oct
India plans to import about 5.5 million barrels of crude oil after October to fill part of its Mangalore strategic petroleum reserve in southern Karnataka state and may change the crude grade at another facility.
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