Energy & Commodities
Beijing rejects Sinopec’s request to tap commercial reserve: sources
Sinopec relies on the Middle East for nearly 60% of its total crude oil imports
Shell board proposes raising CEO Wael Sawan’s pay package to £13.8 million
Shareholder distributions over a three-year remuneration cycle underpin Sawan’s level of pay
China orders immediate ban on March fuel exports: sources
The halt applies to cargoes that had yet to clear customs as at Mar 11
Asia’s LNG buyers hunker down for Middle East war lasting months
While prices have pulled back from a week earlier, they are still 80% higher than before the conflict began
US to release 172 million barrels of oil for IEA relief plan
Crude, petrol, diesel and jet fuel prices have climbed dramatically since the US and Israel began their military campaign against Iran on Feb 28
Oil surges above US$100 again as Iraq halts ports, IEA release fails to quell rally
The IEA has recommended the release of 400 million barrels of oil, the largest such move in its history
Gold falls as traders weigh fading rate-cut bets and rising oil
Now entering its 13th day, the US-Israeli war with Iran continues to disrupt oil production and refining across the Middle East
Japan to release 80 million barrels of oil from reserves
Governments are seeking to contain a surge in energy prices driven by the Middle East war
Trump signals US will tap oil reserve to ease price shock
The Strategic Petroleum Reserve currently contains about 415 million barrels
Trump to invoke emergency law for offshore oil producer Sable
California relies heavily on foreign crude, which made up about 61% of the oil used by its refineries last year
