ENERGY

Via The CradlePakistan is mulling over completing a much-delayed pipeline project with Iran, which has been stalled for years and has failed to move forward due to US sanctions. Islamabad is considering…

By Charles Kennedy of OilPrice.com

A day after a New York court ruling that Venezuelan law would determine the validity of bonds issued by state-run PDVSA oil company, Bloomberg reports that bonds have “collapsed”, slumping on questions over their validity. At stake is $2 billion in PDVSA bonds, and PDVSA notes dropped 17 cents following Tuesday’s ruling, according to Bloomberg. 

On Tuesday, the New York State Court of Appeals ruled on the matter after Venezuelan (more…)

Oil prices ended higher today as traders weighed tightening physical supplies against financial markets that have remained under pressure.

Higher for longer rates weighed on the demand side of traders' minds while physical markets continue to show signs of strength amid refined-product shortages with Brent’s prompt spread strengthening to 95 cents in backwardation, hovering at three month highs.

Additionally, the ongoing tensions in the middle east are supporting prices. (more…)