Energy Transition Fad Will Send Oil Sky High
Ironically, the wave of ESG investing in global energy markets may lead to much higher oil prices as a serious lack of capital expenditure on new fossil fuels dries up Continue Reading
Oil Supercycle May Hinge on Drilling Lag, Saudi Prince Says
A new supercycle in global oil prices could be triggered by a lack of new investments in exploration, Saudi Arabia’s energy minister said. Prince Abdulaziz bin Salman, who’s been warning Continue Reading
Crude rises on large API crude draw, bullish demand outlook
Crude oil futures jumped during morning trade in Asia June 16, as data from the American Petroleum Institute showed a large draw in US crude inventories, and as the market Continue Reading
Oil Prices Climb On Huge Inventory Draw
The American Petroleum Institute (API) on Tuesday reported a draw in crude oil inventories of 8.537-million barrels for the week ending June 11. Analysts had predicted a much smaller draw Continue Reading
Brent Oil Marches Toward $75 as Market Tightens Up, Curbs Ease
Oil extended a powerful rally, with global benchmark Brent closing in on $75 a barrel, after industry data pointed to a substantial draw in U.S. crude stockpiles and top traders Continue Reading
Oil hits new high near $75 on demand rise, falling inventories
Oil extended its run of gains on Wednesday, climbing towards $75 a barrel to its highest since April 2019, supported by a recovery in demand from the pandemic and a Continue Reading
Oil Price Rally for 2021 Approaches 50%
Oil climbed as a chorus of prominent traders in the crude market said prices will continue to rise after a nearly 50% rally so far this year. Futures in New Continue Reading
$100 Oil Is Now A Distinct Possibility
Although oil may not be headed to a new supercycle, prices still have room to rise from current levels because of a strong demand rebound and expected tightness in supply, Continue Reading
Crude prices in Asia jump on robust demand, tight supply
China ramps up crude processing as margins improve Asian refiners back from maintenance Strong demand push Oman, Russian ESPO, Sokol to 11-mth high Supply tight as Europe, Africa, U.S. crude Continue Reading
Crude oil futures rise as JCPOA restoration seems unlikely in near term
Crude oil futures rose during morning trade in Asia June 15, as the restoration of the Joint Comprehensive Plan of Action seemed increasingly difficult, and as strong oil demand in Continue Reading