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It’s one of the first maxims that oil traders learn, but over the last couple of weeks, that platitude has not played out as expected. Despite the ongoing conflict between Israel and Gaza (highlighted by Israeli forces recently moving into Rafah, a key city on the Gaza strip), oil prices have been in retreat since early April. In essence, markets are ...
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Norway is expanding the acreage in the Barents Sea and the Norwegian Sea, for which companies vying for licenses in mature areas can bid this year, the energy ministry of Western Europe’s largest oil and gas producer said on Wednesday. Following the ministry’s announcement, the annual rounds of awards in predefined areas (APA), which give oil companies the ...