The United States is continuing to look for creative ways to reduce Russia’s oil revenue and lower global demand for oil creates an opportunity for more sanctions, Treasury Secretary Janet Yellen said on Wednesday. The United States has been constantly tightening...

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Crude Oil Price Movements In November, the OPEC Reference Basket (ORB) value dropped by $1.47, or 2.0%, month-on-month (m-o-m), to average $72.98/b. The ICE Brent front-month contract dropped by $1.98, or 2.6%, m-o-m, to average $73.40/b, while NYMEX WTI dropped by...

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Norwegian shipping technology company CryoVac has received an Approval in Principle (AiP) from classification society DNV for its vacuum insulation system for liquid hydrogen (LH2) – thereby bringing shipping of LH2 one step closer to realization. “The AiP is an...

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Asia’s spot fuel oil benchmarks steadied on Wednesday after the market’s recent downtrend, while overall trading momentum was largely thin. Spot premium for very low sulphur fuel oil (VLSFO) inched slightly higher on Wednesday, after slumping to near parity levels to...

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