Connection

popular articles

Redelio Renewables LLC: 2.4 GW Energy Storage Ambition in the U.S.
Mexico: falling oil production threatens energy independence
RWE launches 8.5 MW solar power plant in Poland
Sceye validates solar-powered stratospheric flight
Eni obtains crucial approvals for gas projects in Indonesia

Rising oil prices in the face of earthquakes and the Chinese recovery

The oil market reacted to increased demand in Turkey due to earthquakes and a recovery in Chinese demand. Brent and WTI prices rose by 2.30% and 2.46% respectively. This situation allows the oil industry to envisage a recovery that favors sustainable development.

Please share:

Oil prices rose Tuesday as a major export terminal in Turkey was shut down following earthquakes in Turkey and Syria. Analysts also point to the recovery in Chinese demand as an additional factor in the price increase.

 

Evolution of oil prices

A barrel of North Sea Brent crude for April delivery rose 2.30 percent to $82.85, while its U.S. counterpart, a barrel of West Texas Intermediate (WTI) for March delivery, gained 2.46 percent to $75.93.

 

Closure of the oil terminal

The Ceyhan oil terminal in Turkey has been closed due to earthquake damage and is expected to remain closed for about a week for evaluation. This major export terminal used to handle one million barrels of crude per day, so its closure has exacerbated supply pressures and contributed to the rise in oil prices.

 

Factors supporting demand

Oil prices were also supported by the reopening of the Chinese economy, which is expected to lead to a significant increase in demand for crude oil this year. In addition, Saudi Aramco, the Saudi oil group, decided to raise selling prices for its customers in Asia, Europe and the United States for March, indicating increased confidence in crude demand.

Register free of charge for uninterrupted access.

Publicite

Latest news

The United States Grants Two Subsidies for Nuclear Projects in Bulgaria
Flamanville’s EPR: 20 Years of Challenges for a New Energy Hope
The EU Introduces a CO2 Label for Air Travel
Westinghouse signs a 20 billion CAD agreement for nuclear projects in Canada
National Grid: a record £35 billion investment to modernize the UK’s electricity grid

Recently published in

Romania supports Moldova in facing the winter energy crisis

Amid uncertainty over Russian gas deliveries to Transnistria, Romania commits to ensuring Moldova's energy security this winter, with emergency measures for electricity and gas supplies.
Norwegian Oil and Gas Investments: 4% Increase Expected in 2025
The Norwegian industry anticipates a 4% increase in offshore investments in 2025, reaching NOK 275 billion, with enhanced exploration to slow the natural production decline.
en_1140923540
Norwegian Oil and Gas Investments: 4% Increase Expected in 2025
The Norwegian industry anticipates a 4% increase in offshore investments in 2025, reaching NOK 275 billion, with enhanced exploration to slow the natural production decline.
en_1140923540
The EU Targets Rosneft and 52 Russian Ships to Counter Sanctions Evasion
The European Union strengthens its sanctions against Russia by blacklisting additional ships and entities linked to Rosneft to combat evasion of the G7 price caps on Russian oil exports.
en_1140921540
The EU Targets Rosneft and 52 Russian Ships to Counter Sanctions Evasion
The European Union strengthens its sanctions against Russia by blacklisting additional ships and entities linked to Rosneft to combat evasion of the G7 price caps on Russian oil exports.
en_1140921540
The OPEC Fund approves nearly one billion dollars for strategic global projects
The OPEC Fund has validated a financing portfolio totaling nearly one billion dollars in the fourth quarter of 2024, distributed across structuring projects in governance, infrastructure, and trade in several strategic regions.
en_1140899540
The OPEC Fund approves nearly one billion dollars for strategic global projects
The OPEC Fund has validated a financing portfolio totaling nearly one billion dollars in the fourth quarter of 2024, distributed across structuring projects in governance, infrastructure, and trade in several strategic regions.
en_1140899540

The depreciation of the won worsens South Korean refiners’ losses amidst political turmoil

The decline of the won against the dollar exposes South Korean refiners to significant losses on crude import costs, while the political crisis surrounding martial law undermines investor confidence.
The United Kingdom and Norway announce a strategic energy partnership
London and Oslo announce a future industrial partnership focused on renewable energy and carbon capture, aiming to secure their energy and economic interests.
en_1140911540
The United Kingdom and Norway announce a strategic energy partnership
London and Oslo announce a future industrial partnership focused on renewable energy and carbon capture, aiming to secure their energy and economic interests.
en_1140911540
Les « shadow tankers » : un réseau clandestin qui alimente les revenus pétroliers russes et iraniens
Les « shadow tankers » : un réseau clandestin qui alimente les revenus pétroliers russes et iraniens
en_1140874540
Les « shadow tankers » : un réseau clandestin qui alimente les revenus pétroliers russes et iraniens
Les « shadow tankers » : un réseau clandestin qui alimente les revenus pétroliers russes et iraniens
en_1140874540
Canada and the United States Join Forces to Secure Critical Minerals in Yukon
A joint investment between Canada and the United States aims to develop Yukon’s infrastructure and accelerate the exploitation of critical minerals essential for North American security and clean energy.
en_1140887540
Canada and the United States Join Forces to Secure Critical Minerals in Yukon
A joint investment between Canada and the United States aims to develop Yukon’s infrastructure and accelerate the exploitation of critical minerals essential for North American security and clean energy.
en_1140887540

The United States Prepares to Sanction the Serbian Oil Industry Controlled by Russia

Serbian President Aleksandar Vucic warns of imminent US sanctions against NIS, majority-owned by Gazprom Neft and Gazprom. A decision that could escalate geopolitical tensions in Europe.
Ontario threatens to cut electricity exports to the U.S. in response to Trump’s plans
Faced with Donald Trump’s proposed tariffs, Ontario’s Premier considers suspending electricity exports to several U.S. states, jeopardizing the supply of 12 billion kWh annually.
en_1140856540
Ontario threatens to cut electricity exports to the U.S. in response to Trump’s plans
Faced with Donald Trump’s proposed tariffs, Ontario’s Premier considers suspending electricity exports to several U.S. states, jeopardizing the supply of 12 billion kWh annually.
en_1140856540
Germany and Nigeria Strengthen Cooperation in Energy Diplomacy
During a visit to Abuja, German President Frank-Walter Steinmeier and his Nigerian counterpart Bola Ahmed Tinubu discussed their energy partnership, focusing on renewable energy and hydrogen.
en_1140852540
Germany and Nigeria Strengthen Cooperation in Energy Diplomacy
During a visit to Abuja, German President Frank-Walter Steinmeier and his Nigerian counterpart Bola Ahmed Tinubu discussed their energy partnership, focusing on renewable energy and hydrogen.
en_1140852540
EU Adopts 15th Sanctions Package: Russian Tankers Under Pressure
The European Union strengthens sanctions against Russia by targeting new tankers involved in the transport of Russian oil and expanding its blacklist of entities supporting Moscow's military effort.
en_1140864540
EU Adopts 15th Sanctions Package: Russian Tankers Under Pressure
The European Union strengthens sanctions against Russia by targeting new tankers involved in the transport of Russian oil and expanding its blacklist of entities supporting Moscow's military effort.
en_1140864540

Ecuador’s Imports of Refined Products Surge Amid Refinery Challenges

Ecuador is experiencing a marked increase in diesel and gasoline imports due to ongoing challenges in its refineries, exacerbated by extended maintenance periods.
The collapse of the Syrian regime halts Iran’s oil exports
The overthrow of the Syrian regime disrupts Iranian oil deliveries, crucial for local energy supply. The cessation of this source highlights the growing energy challenges in the region.
en_1140849540
The collapse of the Syrian regime halts Iran’s oil exports
The overthrow of the Syrian regime disrupts Iranian oil deliveries, crucial for local energy supply. The cessation of this source highlights the growing energy challenges in the region.
en_1140849540
Europe Faces Competitiveness Challenge to Secure LNG Supplies
Global demand for liquefied natural gas (LNG) is rising rapidly. Europe must strengthen its competitiveness to secure supply amidst growing competition from Asian and American markets.
en_1140850540
Europe Faces Competitiveness Challenge to Secure LNG Supplies
Global demand for liquefied natural gas (LNG) is rising rapidly. Europe must strengthen its competitiveness to secure supply amidst growing competition from Asian and American markets.
en_1140850540
The Arctic Oil Lease Sale: A Controversial Decision Revived in the United States
The U.S. government plans a new oil lease sale in the Arctic National Wildlife Refuge, a Congress-mandated initiative sharply criticized for its environmental impacts.
en_1140810540
The Arctic Oil Lease Sale: A Controversial Decision Revived in the United States
The U.S. government plans a new oil lease sale in the Arctic National Wildlife Refuge, a Congress-mandated initiative sharply criticized for its environmental impacts.
en_1140810540

Syria: Assad’s Fall Shakes Oil Markets Without Major Disruptions

The collapse of Bashar al-Assad's regime has prompted reactions in oil markets, with a moderate rise in prices. The geopolitical implications for the region and their effects on energy supplies remain uncertain.
Aramco reduces prices for Asia: Arab Light crude reaches a four-year low
Faced with weakened demand, Saudi Aramco lowers its official selling prices for Arab Light crude destined for Asia, reaching levels not seen since January 2021. A decision influenced by global dynamics and uncertain market prospects.
en_1140789540
Aramco reduces prices for Asia: Arab Light crude reaches a four-year low
Faced with weakened demand, Saudi Aramco lowers its official selling prices for Arab Light crude destined for Asia, reaching levels not seen since January 2021. A decision influenced by global dynamics and uncertain market prospects.
en_1140789540
Russian Gas: Putin Expands Payment Options Amid US Sanctions
Russian Gas: Putin Expands Payment Options Amid US Sanctions
en_1140775540
Russian Gas: Putin Expands Payment Options Amid US Sanctions
Russian Gas: Putin Expands Payment Options Amid US Sanctions
en_1140775540
The United States Calls for an International Coalition Against Houthi Attacks in the Red Sea
The U.S. administration urges international partners to unite against Iran-backed Houthis responsible for massive attacks on ships in the strategic Red Sea region. Military, economic, and diplomatic stakes are intensifying.
en_1140782540
The United States Calls for an International Coalition Against Houthi Attacks in the Red Sea
The U.S. administration urges international partners to unite against Iran-backed Houthis responsible for massive attacks on ships in the strategic Red Sea region. Military, economic, and diplomatic stakes are intensifying.
en_1140782540

OPEC+ Virtual Meetings: Strengthened Control for Riyadh

OPEC+ adopts online meetings, centralizing the decision-making process. This transition raises questions about transparency and tensions among producers facing increasing pressure in the oil market.
Orano loses control of its subsidiary in Niger: 1,150 tons of uranium blocked
Orano loses control of its subsidiary in Niger: 1,150 tons of uranium blocked
en_1140715540
Orano loses control of its subsidiary in Niger: 1,150 tons of uranium blocked
Orano loses control of its subsidiary in Niger: 1,150 tons of uranium blocked
en_1140715540
France Strengthens Strategic Energy Partnerships with Saudi Arabia
Several agreements have been concluded between French and Saudi companies in renewable energy, waste management, and technological innovations, consolidating diplomatic and economic relations between the two nations.
en_1140717540
France Strengthens Strategic Energy Partnerships with Saudi Arabia
Several agreements have been concluded between French and Saudi companies in renewable energy, waste management, and technological innovations, consolidating diplomatic and economic relations between the two nations.
en_1140717540
United Kingdom / Qatar: One Billion for Climate Technologies
Qatar will invest one billion pounds in climate technologies in the United Kingdom, an agreement hailed by Prime Minister Keir Starmer as a "significant step forward" during the official visit of Emir Al-Thani.
en_1140749540
United Kingdom / Qatar: One Billion for Climate Technologies
Qatar will invest one billion pounds in climate technologies in the United Kingdom, an agreement hailed by Prime Minister Keir Starmer as a "significant step forward" during the official visit of Emir Al-Thani.
en_1140749540

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS