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Oil Tanker Rates Retreat as Middle East Tensions Cool

OilPrice

Charterers that had paused bookings or rerouted vessels in mid-June amid fears of an Iranian blockade have begun re-entering the market, easing pressure on freight. According to tanker brokers cited by gCaptain, VLCC rates for Gulf-to-China routes have dropped to approximately $63,000 per day, down from nearly $100,000 just…

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Oil-Rich Alberta Forecasts Unexpected Budget Surplus

OilPrice

Alberta expects to have booked a budget surplus of about US$4.2 billion (C$5.8 billion) for the fiscal year 2024-2025 that ended in March, as Nate Horner, the finance minister of Canada’s oil-producing province, prepares to deliver the year-end fiscal update later on Friday.

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Shell Expects Weaker Trading and Lower Natural Gas Output in Q2

OilPrice

Shell expects to have booked “significantly lower” trading and optimization results for the second quarter compared to the prior quarter, while it also slightly reduced the range of its natural gas and LNG production for the April-June period.

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Super Tanker Charter Rates Soar on Persian Gulf Route

OilPrice

Since Friday, when Israel launched a coordinated attack on Iranian nuclear sites, there have been few offers for producers and traders that want to book tankers to ship crude from the Gulf, anonymous shipbrokers and charterers told Bloomberg on Monday. The start of the conflict caused freight rates to jump and vessel owners to be hesitant…

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Revolutionizing ERCOT Power Grid Forecasting with Enverus New Model

Enverus

Our comprehensive E-book is the tool you need for the insights and strategies to capitalize on market opportunities and manage risks effectively across all the ISOs. Are you ready to take your power trading skills to the next level?

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April price crash dragged Saudi Arabia’s oil revenues to 4-year low

Oil & Gas 360º

The Kingdom already booked a hefty budget deficit for the first quarter, even before the oil prices plunged in April. The oil price slump in April and the subsequent volatility in prices in May and June amid economic concerns and geopolitical flare-ups are challenging the Saudi budget and expenditure planning. billion (58.7

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BP sees lower oil prices denting Q2 profit

Oil & Gas 360º

Shell, for example, expects to have booked “significantly lower” trading and optimization results for the second quarter compared to the prior quarter, while it also slightly reduced the range of its natural gas and LNG production for the April-June period.

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