The recent increase in gasoline prices in the U.S. is causing inflation to rise higher than expected, which poses challenges for both the Federal Reserve's monetary policy and President Joe Biden's efforts to convince voters that the economy is performing well.
Japan is seeking help from Western allies to secure LNG contracts beyond 2030, as the risks of relying on Russia for supplies have become apparent since the Ukraine invasion.
Investments in new oil production have been slowing down since around 2014, leading many to predict that higher prices are likely to persist, supported by energy policies in key jurisdictions that are against the oil industry.
This week, Total Energies and Qatar Energy announced plans to expand their exploration efforts in the Orange Basin offshore Namibia.
While China's crude oil imports increased in the first two months of 2024, it's premature to gauge their impact on global oil demand and prices for the year.
Despite the currently low natural gas prices in the United States and the abundance of shale gas resources, the futures market has experienced significant fluctuations in recent months.