4 h. ago Oil Steadies With Global Surplus and Russian Sanctions in Focus

Oil steadied as investors weighed the impact from an emerging surplus against US sanctions on Russia that have upended some crude flows.

Events

3 d. ago Bulgaria Seizes Refinery Before US Sanctions Hit Russia’s Lukoil

Bulgaria seized control of Lukoil PJSC’s local refinery to head off a potential fuel crisis from US sanctions on the Russian oil firm.

Events

3 d. ago Oil Jumps as Russian Port Attack and Sanctions Offset Glut Angst

Oil advanced as risks to Russian flows from Ukrainian strikes and tougher US sanctions countered signs the market faces a punishing glut.

Events

7 d. ago Mol Rises After Hungary Wins US Exemption on Russian Sanctions

Shares of Hungarian refiner Mol Nyrt. rose after Prime Minister Viktor Orban secured an exemption from US sanctions on Russian oil — which is key to the company’s operations.

Events

9 d. ago Bulgaria moves to prevent shutdown of its only oil refinery ahead of US sanctions

SOFIA, Bulgaria (AP) — Bulgaria is racing to prevent the shutdown of its only oil refinery before U.S. sanctions on the Russian owner take effect later this month. Parliament in Sofia approved legal changes that grant additional state authority to a government-appointed manager of the Lukoil-owned Burgas refinery on the Black Sea coast. The move […]

Events

1 week ago Mol Floats Shift Away From Russian Oil Before Orban Meets Trump

Hungary’s sole refiner said it can procure most of its crude from non-Russian sources, marking a shift in tone ahead of a high-stakes meeting between US President Donald Trump and Prime Minister Viktor Orban on Russian oil sanctions.

Other

1 week ago Gunvor Scraps Lukoil Deal After US Calls It Kremlin ‘Puppet’

Commodity trader Gunvor Group has withdrawn its offer for the international assets of sanctioned Russian oil producer Lukoil PJSC after the US Treasury Department called it “the Kremlin’s puppet” and said the oil and gas trader would never get a license.

Events

2 w. ago Turkey Lowers Oil Purchases From Russia as US Tightens Sanctions

Turkey’s oil refiners have started cutting their purchases of Russian crude after the US sanctioned Moscow’s top two oil producers and are instead seeking extra barrels from nations including Iraq, Libya, Saudi Arabia and Kazakhstan.

Events

2 w. ago Russian Oil Finds Fewer Takers in China After Hit From Sanctions

Chinese oil refiners are shunning Russian shipments after the US and others blacklisted Moscow’s top producers and some of its customers.

Events

2 w. ago Orban to press Trump for Hungary’s exemption from new US sanctions on Russian oil

BUDAPEST, Hungary (AP) — Hungarian Prime Minister Viktor Orban said Friday that he would try to persuade U.S. President Donald Trump to grant Hungary exemptions from Washington’s newly announced sanctions targeting Russian oil when he meets with the president next week. The Trump administration unveiled sanctions against Russia’s major state-affiliated oil firms Rosneft and Lukoil […]

Events

2 w. ago Hungary Prepares Bill For Fuel Emergencies After Refinery Fire

Hungary has drafted legislation on steps to be taken in case of a fuel-supply emergency, just days after a major fire at the country’s sole oil refinery and following a US decision to impose sanctions on Russian energy companies.

Events

2 w. ago Orban Seeks Russian Oil Sanction Waiver, Deals in Trump Meeting

Prime Minister Viktor Orban is looking for an economic boost from his meeting with President Donald Trump next week, as well as assurances that Hungary can be shielded from the impact of US sanctions on Russian oil, according to a senior minister.

Events

3 w. ago Key Russian Oil Grade Slumps as US Sanctions Hamper China Buying

The price of a key Russian oil grade has plunged after Western sanctions prompted Chinese refiners to cancel some purchases.

Events

3 w. ago India’s Reliance Snaps Up Middle East Oil After Russia Sanctions

India’s Reliance Industries Ltd. has bought millions of barrels of crude from the Middle East and US after Washington sanctioned two Russian producers, raising concerns about a disruption to oil flows.

Events

3 w. ago Chinese State Buyers Step Back From Russian Oil on Sanctions

Chinese state-owned companies including Sinopec canceled some purchases of seaborne Russian crude after the US blacklisted Rosneft PJSC and Lukoil PJSC, adding to signs of disruption in the oil market.

Events

3 w. ago Oil prices spike after US, EU hit Russian oil companies with new sanctions

Oil prices spiked on Thursday after the U.S. announced massive new sanctions on Russia's oil industry in an attempt to pressure Russia to negotiate an end to the war in Ukraine.

Economics

3 w. ago Asian shares retreat and crude prices soar $2 after Trump sanctions Russian oil giants

MANILA, Philippines (AP) — Shares were mostly lower in Asia on Thursday following a retreat on Wall Street, while crude prices jumped more than $2 after U.S. President Donald Trump announced sanctions on Russian oil giants. The sanctions against Rosneft and Lukoil are intended to drive Russian President Vladimir Putin to the negotiating table and […]

Economics

3 w. ago US Sanctions on Russian Oil Giants Send Shockwaves Across China

US sanctions on Russia’s energy giants are sending shockwaves deep into the heart of China’s oil industry, where both state and private refiners face heightened pressure to keep up supplies while steering clear of penalties.

Sport

3 w. ago U.S. hits two largest Russian oil companies with sanctions after Putin meeting nixed

It marks yet another shift for the White House, which has veered back and forth between threats to Russia and a more accommodating stance

Politics