ENERGY

Authored by Charles Kennedy via OilPrice.com,

Oil and gas companies could be a source of additional funding for a UN climate financing to help developing economies cope with the consequences of climate change, according to a draft EU document seen by Reuters.

After failing so far to establish a clear-cut framework of how much wealthy developed nations should contribute to a fund to help developing economies, the next COP summit in Azerbaijan at the end of this year is seen (more…)

Oil prices are rising this morning after Saudi Arabia unexpectedly increased prices of its main grade to buyers in Asia and broader financial markets rebounded from Monday’s losses.

Traders will be closely watching Powell's testimony before the House Financial Services Committee for more detail on the possible timing of interest rate cuts that the market is expecting this year.

Crude was supported technically (at its 200DMA) and by last night's smaller than expected crude (more…)

Four months after India's government rejected demands from Russian oil companies to pay for Russia's crude exports in Chinese yuan, it appears India is now hoping for a similar arrangement with Gulf crude exporters.

Bloomberg reports that the Reserve Bank of India (RBI) has asked the country’s major state-owned refiners to press Persian Gulf suppliers to accept at least 10% of oil payments in rupees in the next financial year, three executives at the processors said.

The (more…)