Site with benefits

Oil prices rose above $75 in international markets on Friday, boosted by signs of a strengthening US economy and a sharp drop in inventories ahead of further supply cuts from Saudi Arabia.  On the London market, the price of a barrel for delivery in September was 82 cents higher in the afternoon than at the close of trading yesterday and amounted to $75.33. Barrels for August delivery traded 52 cents higher at $74.86. On the American market, the price of a barrel increased by 86 cents, to 70.72 dollars.  Traders were encouraged by slightly increased estimates of US economic growth in the first quarter and a sharp fall in inventories last week, by as much as 9.6 million barrels.  The US economy grew by 1.8% in the first quarter, according to the Commerce Department, compared to the same period last year, 0.2 percentage points stronger than previous estimates showed. At the end of 2022, it increased by 0.9 percent.  Prices were also supported by Saudi Arabia's an...

According to Maria Rita Gali, CEO of the nation's gas network operator DESFA, Greece is emerging as Europe's gas corridor and could virtually treble its gas export capacity to neighboring nations in the years to come.  At the height of the Ukrainian conflict, Greece reduced its reliance on Russian gas by more than half this year, increasing its supply of liquefied natural gas (LNG), primarily from the United States and Egypt, to its sole LNG terminal in the Athens neighborhood of Revitusa.  The terminal, which the government referred to as "indispensable," also assisted in exporting gas to nearby nations, such as Bulgaria, which earlier this year lost access to Russian supplies because it would not accept payments in rubles. Greece is counting on the construction of at least two more floating storage and regasification units (FSRUs), which might be operational by 2024, to further lessen its reliance on Russian gas. Recently, it likewise dispatched another...