The Biden administration is considering following Canada in barring Russian ships from U.S. ports,...
The Biden administration is considering following Canada in barring Russian ships from U.S. ports, a government official said this week. A White House spokeswoman said no decision has been made.
Biden administration officials pressured some Democratic senators not to support bipartisan legislation by Sens. Joe Manchin (D-W.Va.) and Lisa Murkowski (R-Alaska) that would ban oil and gas imports from Russia, Senate Democratic aides told Axios.
Refugees Fleeing Ukraine Now Represent Biggest Movement of People in Europe Since World War II
RZESZOW, Poland—More than 1.45 million people have left Ukraine since ...
RZESZOW, Poland—More than 1.45 million people have left Ukraine since Russia invaded the country 10 days ago, the International Organization for Migration said on Saturday, sparking what the United Nations agency described as the fastest and largest displacement of people in Europe since World War II.
U.S. oil futures jump more than 7% to the highest level in more than 10 years
Oil futures climbed on Friday, with U.S. prices ending at their highest in more than 13 years, as Russia's...
Oil futures climbed on Friday, with U.S. prices ending at their highest in more than 13 years, as Russia's invasion of Ukraine, and Western nations' sanctions on Moscow in retaliation, threaten to disrupt global crude supplies. Oil prices have been "a one-way market, but the potential return of Iranian crude supplies could provide much relief to this very tight market," said Edward Moya, senior market analyst at OANDA. News reports said Iran and world powers were close to an agreement to restore the 2015 nuclear deal, which is expected to lead the U.S. to lift sanctions on Tehran, allowing more oil to flow into the global market.
West Texas Intermediate crude for April delivery CLJ22, +6.81% rose $8.01, or 7.4%, to settle at $115.68 a barrel on the New York Mercantile Exchange. That was the highest front-month finish since September 2008, according to Dow Jones Market Data. For the week, prices rose 26.3%, the largest percentage climb since the week ending April 3, 2020.
Oil rig count suffers first weekly decline since January
U.S. energy firms this week cut the number of oil rigs even as Russia's invasion of Ukraine drove crude prices to their highest since 2008.
U.S. oil rigs fell three to 519 in the week to March 4, their first weekly decline since January, while gas rigs rose three to 130, their highest since December 2019, energy services firm Baker Hughes Co said in its closely followed report on Friday.
Most of the decline in oil rigs was in the Woodford shale in Oklahoma, which offset an increase in the largest U.S. oilfield in the Permian Basin, the data showed. The Ardmore Woodford fell to no activity with the loss of its only rig while the Arkoma Woodford declined by one, leaving two active rigs. The Cana Woodford was unchanged at 28 rigs.
