ENERGY

Crude prices have roller-coastered over the last 12 hours or so as last night's API (large gasoline build) sparked selling, then buying waves hit during the late-Asia/early-Europe session, then selling returned with a vengance during the early US session as Kanda's comments sparked dollar strength and sent commodities lower.

The dismal home sales print sparked dollar weakness and sent oil prices back up into the green ahead of the official inventory data.

API (more…)

By Tsvetana Paraskova of OilPrice.com

The Lufthansa Group, the biggest airline group in Europe, is introducing a so-called Environmental Cost Surcharge of up to $77.20 (72 euros) per flight to cover part of the costs for using additional volumes of sustainable aviation fuel (SAF), the Germany-based airline said on (more…)

Crude prices slipped back lower today from two-month highs, testing back into the range of the last couple of days after rallying hard on increasing geopolitical tensions.

A series of drone attacks last week on Russian oil infrastructure by Ukraine, combined with escalating tensions between Iran-backed Hezbollah and Israel have buoyed crude prices, Claudio Galimberti, director of global market analysis at Rystad Energy, said in a note.

Today's decline (perhaps driven by weaker (more…)