Traders store LNG on tankers betting on rise in winter demand

Traders store LNG on tankers betting on rise in winter demand

Traders are temporarily storing liquefied natural gas (LNG) on tankers as they bet for a rise in winter demand to boost prices. This, combined with U.S. sanctions on COSCO-linked ships, have doubled spot LNG freight rates in the past month and is causing a shortage in availability of vessels, several industry sources said.

Oil ticks up as rising crude stocks are offset by products demand

Oil ticks up as rising crude stocks are offset by products demand

Oil prices rose slightly on Friday as concern over an economic slowdown in China, the world’s biggest oil consumer, was countered by bullish signals from both the Chinese and US refining sectors. Erasing earlier losses, global benchmark Brent crude oil futures rose 10 cents to $60.01 a barrel by 0927 GMT.

Oil ticks up as rising crude stocks are offset by products demand

Oil ticks up as rising crude stocks are offset by products demand

Oil prices rose slightly on Friday as concern over an economic slowdown in China, the world’s biggest oil consumer, was countered by bullish signals from both the Chinese and US refining sectors. Erasing earlier losses, global benchmark Brent crude oil futures rose 10 cents to $60.01 a barrel by 0927 GMT.

New biogas initiative launched in Karnal to help Delhi breathe easy

New biogas initiative launched in Karnal to help Delhi breathe easy

A project with innovative financing plan has been launched at Karnal in Haryana, 100 Kms from Delhi, to help the National Capital breathe easy by turning 40,000 tonnes of paddy straw a year from 20,000 acres of farm land into bio-gas that can be used for running tractors and farm equipment at 40% lesser cost than diesel.

Bearish demand outlook offsets geopolitical risks

Bearish demand outlook offsets geopolitical risks

Economic uncertainty and a bearish oil demand outlook continue to offset heightened geopolitical risks and keep a lid on oil prices. S&P Global Platts Analytics, however, believes that prices are far from where fundamentals suggest, weighed down by bearish sentiment around the health of the global economy.

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