🔥From Twitter: Spring is here and it's the first day of the Masters (our favorite sport event)
Was perhaps best @TheMasters...
Was perhaps best @TheMasters Club Dinner I recall. Great company & conversation. Food was sensational! Best part was when Hideki Matsuyama, who doesn’t speak English well, gave a 3-min speech in English—without a single note. @GaryPlayer then responded. In Japanese. With notes.😉 pic.twitter.com/AShWaaZzvk
Oil futures rise early Thursday, bouncing after ending the previous session at three-week...
Oil futures rise early Thursday, bouncing after ending the previous session at three-week lows following the announcement of a coordinated release of crude from strategic reserves by member countries of the International Energy Agency.
West Texas Intermediate crude for May delivery CL.1, 2.00%CL00, 2.01%CLK22, 2.01% rose $2.37, or 2.5%, to $98.60 a barrel on the New York Mercantile Exchange.
June Brent crude BRN00, 1.68%BRNM22, 1.68%, the global benchmark, was up $2.23, or 2.2%, at $103.30 a barrel on ICE Futures Europe. Both WTI and Brent on Wednesday logged their lowest finishes since March 16.
Shell Raises Russia Write-down to as Much as $5 Billion
Shell Plc will write down up to $5 billion following its decision to exit Russia, more...
Shell Plc will write down up to $5 billion following its decision to exit Russia, more than previously disclosed while soaring oil and gas prices boosted trading activities in the first quarter, the company said on April 7.
The post-tax impairments of between $4 billion and $5 billion in the first quarter will not impact the company’s earnings, Shell said in an update ahead of its earnings announcement on May 5.
Shell, whose market capitalization is around $210 billion, had previously said the Russia write-downs would reach around $3.4 billion. The increase was due to additional potential impacts around contracts, write-downs of receivables, and credit losses in Russia, a Shell spokesperson said.
Energy Information Administration data show utilization...
Energy Information Administration data show utilization of US refining capacity has reached 92%, which threatens to complicate US efforts to bring more supplies to the global market to make up for the loss of Russian refined products as fuel demand continues to improve. The world lost 3 million barrels per day of refining capacity since January 2020 due to refinery closures, including 1 million bpd in the US, according to American Fuel & Petrochemical Manufacturers.
API: Biden's policies hindering oil, gas investment
American Petroleum Institute Vice President Frank Macchiarola said the Biden administration's recent...
American Petroleum Institute Vice President Frank Macchiarola said the Biden administration's recent change in attitude toward oil and natural gas development must be accompanied by policy changes that incentivize investment in American oil and gas, and dismissed accusations of industry price gouging as "false" and "unfair.
In a congressional hearing yesterday, US oil execs were grilled microwaved (propane’s too expensive) by Democrats, who accused them of jacking up gas prices for consumers while pocketing higher profits. Leaders from Exxon, Chevron, Shell, and other energy firms said they had little control over oil prices, which have surged nearly 70% since last year.
