Energy Bangla

Oil prices rose 1% on Wednesday, reversing early losses as the market took a bullish view on China’s stance on potential trade talks with the United States, though gains were capped by continuing fears that the trade war will curb energy demand. Brent crude futures rose 64 cents to $65.31 a barrel by 0937 GMT while U.S. West Texas Intermediate crude rose 62 cents to $61.95. The Reuters Power Up... »

Lower oil prices could reduce Colombian state-run oil firm Ecopetrol’s profits by up to 12 trillion pesos ($2.76 billion) this year, the company’s president warned on Friday. Ecopetrol (ECO.CN), opens new tab may also have to scrap production at some fields and focus on those with lower costs, president Ricardo Roa told journalists on the sidelines of an industry event. Crude oil prices were headed for their second-consecutive weekly loss... »

Brent and West Texas Intermediate crude climbed more than $1 on Friday after U.S. Energy Secretary Chris Wright said the United States could end Iran’s oil exports as part of an effort to bring the Islamic Republic to terms over its nuclear program. Brent crude futures settled at $64.76 a barrel, up $1.43, or 2.26%. U.S. West Texas Intermediate crude finished at $61.50 a barrel, up $1.43 or 2.38%. “Strict... »

HOUSTON, April 4 (Reuters): Oil prices plunged 7% on Friday to settle at their lowest in over three years as China ramped up tariffs on U.S. goods, escalating a trade war that has led investors to price in a higher probability of recession. China, the world’s top oil importer, announced it will impose additional tariffs of 34% on all U.S. goods from April 10. Nations around the world have readied... »

Oil prices edged higher on Wednesday as concerns about tighter global supply grew following the U.S. threat of tariffs on nations buying Venezuelan crude, along with a larger-than-expected drop in U.S. crude inventories. Brent crude futures gained 49 cents, or 0.67%, to $73.51 a barrel by 0950 GMT, while U.S. West Texas Intermediate crude futures rose 48 cents, or 0.70%, to $69.48 a barrel. The Reuters Power Up newsletter provides... »

Dhaka, December 31, 2024: The prices of diesel and kerosene have been reduced by Tk 1 per litre with effect from January 1. According to new prices, set by the Energy and Mineral Resources Division for the month of January, per litre of diesel and kerosene will be sold at Tk 104 instead of earlier price of Tk 105 while prices of octane and petrol will remain unchanged at Tk... »

The Bangladesh Petroleum Corporation (BPC) has said there is no likelihood of a fuel price increase in the country in January. BPC Chairman Md Amin Ul Ahsan confirmed this information on Saturday. Amin said: “According to the current dollar assessment in the international market, while we may not be able to reduce fuel prices in January, there is no possibility of an increase.” The BPC chairman explained the reason for... »

BSS: The first ever Dhaka-Chattogram fuel oil transportation pipeline is set to be commissioned towards the end of January 2025 aimed at beginning commercial operation from April, saving an amount of Tk. 236 crore in transport cost annually. “The pipeline would not only ensure the secure transportation of fuel oil but also eliminate costs and misuse of fuel,” chairman of Bangladesh Petroleum Corporation (BPC) Amin Ul Ahsan told BSS. He... »

DUBAI, Oct 10 (Reuters): Gulf states are lobbying Washington to stop Israel from attacking Iran’s oil sites because they are concerned their own oil facilities could come under fire from Tehran’s proxies if the conflict escalates, three Gulf sources told Reuters. As part of their attempts to avoid being caught in the crossfire, Gulf states including Saudi Arabia, the United Arab Emirates and Qatar are also refusing to let Israel... »

NEW YORK, Sept 5 (Reuters) – Oil prices held at a 14-month low on Thursday as worries about demand in the U.S. and China and a likely rise in supplies out of Libya offset a big withdrawal from U.S. inventories and a delay to output increases by OPEC+ producers. Brent futures were down 1 cent to settle at $72.69 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 5... »