Russia Moves In On European Gas Markets As Oil Prices Crash
Russia sees a silver lining in the oil price collapse—it now believes that the oil price war will help it win the war for natural gas market share in Europe. Continue Reading
Refiners Race To Reduce Rates As Fuel Demand Falls Off A Cliff
Refining operations in Europe and elsewhere in the world are being curtailed as gasoline and jet fuel demand is falling off a cliff due to the enormous demand destruction in Continue Reading
OIL FUTURES: Oil settles sharply lower as COVID-19 containment efforts spread
Oil prices finished the week lower amid stepped-up US COVID-19 containment efforts, and a lack of clarity regarding US efforts to bail out domestic oil producers. April WTI settled down Continue Reading
Oil Prices Retreat After Massive Rally
Following a rally early on Friday supported by U.S. President Donald Trump suggesting he could intervene in the ongoing Saudi-Russia oil price war and by a flow of stimulus from Continue Reading
Oil Suffers Biggest Weekly Loss Since 1991 With Demand in Focus
Oil capped its biggest weekly decline in almost three decades as concern that the collapse of global fuel demand will deepen outweighed talks between OPEC and Texas’s energy regulator. Futures in Continue Reading
The Very Real Prospect Of $5 Oil
The rebound in oil prices on Thursday didn’t last long as bearish sentiment once again took hold on Friday morning, with some analysts contemplating the possibility of $5 WTI. Oil Continue Reading
Oil Glut Could Grow To 1 Billion Barrels
Crude oil futures are set to finish the week sharply lower despite a two-day counter-trend rally on Thursday and Friday. The price action suggests that even tremendous levels of monetary Continue Reading
World’s Top Oil Trader: Global Demand To Plunge More Than 10%
Global oil demand is set to plunge by more than 10 percent from the typical 100-million-bpd consumption, as the raging coronavirus pandemic forces countries into lockdown, according to the world’s Continue Reading
Oil News: Demand Catastrophe Means the Price War is a Sideshow
Imagine U.S. President Donald Trump makes a deal with Saudi Arabia and Russia to cut oil production. Envisage Washington, Moscow and Riyadh going big, each cutting by one million barrels Continue Reading
We’re Barreling Toward An Epic Glut Of Oil
The world’s crude oil supply is rising even as demand is cratering. Some parts of the economy are grappling with pandemic-driven shortages. The oil industry has the opposite problem: so Continue Reading