Oil Posts First Weekly Loss Since May on OPEC+ Volatility
Oil fell this week for the first time since May after days of volatile trading in the wake of OPEC+’s stalemate over a production increase in the near term. Futures Continue Reading
Oil Heads for Worst Week Since May as OPEC+ Feuds, Delta Spreads
Oil headed for the biggest weekly loss since May as a dispute between Saudi Arabia and the United Arab Emirates clouded the outlook for supply just as the spread of Continue Reading
2021 EIA Oil Price Forecast Jumps
The U.S. Energy Information Administration’s Brent spot average price forecast for 2021 has jumped to $68.78 per barrel. The U.S. Energy Information Administration’s (EIA) Brent spot average price forecast for Continue Reading
Crude steady as OPEC+, pandemic concerns negate bullish EIA data
Crude oil futures were steady during mid-morning trade in Asia July 9, as bullishness due to robust US Energy Information Administration data faded quickly amid concerns over a rise in Continue Reading
Oil Heads for Worst Week Since May as OPEC+ Feuds, Delta Spreads
Oil headed for the biggest weekly loss since May as a dispute between Saudi Arabia and the United Arab Emirates clouded the outlook for supply just as the spread of Continue Reading
Oil prices rise after big draw in U.S. crude, gasoline stocks
Oil prices rose on Thursday, rebounding from early losses after U.S. government data showed a much bigger drop than expected in crude and gasoline inventories. Still, Brent prices remained about Continue Reading
Oil Climbs as U.S. Supplies Dwindle and Demand Jumps to Record
Oil rebounded after a U.S. government report showed rapidly declining inventories and record-high fuel demand in the midst of the peak summer driving season. Futures edged higher after earlier falling Continue Reading
High Oil Prices Could Derail America’s Economic Recovery
Way back in March, a veritable eternity ago if you measure by the daily news cycle, Oilprice reported that high oil prices were coming down the pike, and while oil Continue Reading
Crude oil futures fall on fears of OPEC+ disunity, stronger dollar
Crude oil futures extended overnight losses during mid-morning Asian trade July 8 as the release of bullish American Petroleum Institute data failed to lift market sentiment, amid fears of a Continue Reading
Oil prices extend losses as OPEC+ uncertainty lingers
Oil prices fell for a third day on Thursday amid uncertainty oversupply after the collapse this week of talks among major producers which could potentially cause the current output agreement Continue Reading
Oil Prices Decline for Third Trading Day
Oil fell for a third straight session as the dollar rose and investors awaited further signals from the OPEC+ alliance on its production policy after a dispute upended talks. Futures Continue Reading
Oil Prices Still Have Room To Run
At mid-year 2021 we find that we are in an unsettled state with respect to crude supplies. Of the three largest contributors to global supply, the U.S.A., Russia, and OPEC+ Continue Reading
The Plastics Sector Is Suffering As Oil Prices Rise
Four years ago, the UN declared plastic pollution a global crisis , decades after the discovery of the Great Pacific Garbage Patch –a collection of marine debris 2x the size Continue Reading
Opec ‘gets a pass to lift oil prices’ as hedging losses hobble US shale
Some of America’s biggest oil groups are racking up tens of billions of dollars in hedging losses despite soaring crude prices, as contracts signed during last year’s crash left them Continue Reading
USA Pump Prices Return to 2014 Territory
U.S. gasoline consumption in the week leading up to the Independence Day holiday may have been the highest since September 2019, adding to signs of recovery from the pandemic travel Continue Reading
Oil rises to $75 after tumble but OPEC+ uncertainty clouds outlook
Oil rose to $75 a barrel on Wednesday with support coming from a tight market, after a steep drop from multi-year highs in the previous session amid uncertainty about OPEC+ Continue Reading
US Oil Prices Soar To 6-Year High In OPEC Standoff
The U.S. benchmark oil price WTI Crude hit its highest level since November 2014 early on Tuesday, after OPEC+ on Monday called off its third attempt to reach an agreement Continue Reading
Natural Gas Prices Fall Despite Bullish Outlook
U.S. natural gas prices fell early on Tuesday alongside a slide in crude oil prices, despite forecasts of high natural gas demand this week with expected high temperatures. The U.S. Continue Reading
Oil Slumps With Stronger Dollar Cooling OPEC-Fueled Rally
Oil surged to a six-year high as an OPEC+ supply increase was blocked by a dispute between Saudi Arabia and the UAE. Oil fell the most since late May as Continue Reading
Gas prices are expected to keep climbing through August.
AAA said on Tuesday that gas prices were expected to increase another 10 to 20 cents through the end of August. The average price of a gallon of regular in Continue Reading
Crude oil futures rise on fears of tightening supply after OPEC+ cancels meeting
Crude oil futures extended overnight gains during mid-morning trade in Asia July 6 on fears that oil demand will soon outstrip supply after the OPEC+ coalition, consisting of OPEC members Continue Reading
Oil prices extend gains after OPEC+ talks called off
Oil prices extended gains to hit some of their highest levels since 2018 after OPEC+ discussions were called off, heightening expectations that supplies will tighten further just as global fuel Continue Reading
Analyst Says Market Too Optimistic About Demand
Oil market participants may have focused too much on the surging U.S. fuel demand with states re-opening, possibly ignoring the still lurking COVID threats to demand elsewhere, energy analyst Vandana Continue Reading
Oil hits three-year high after Opec+ abandons meeting
Oil prices jumped to the highest level in three years after Opec and its allies abandoned a decision over increasing oil production, as Saudi Arabia, Russia, and the UAE struggled Continue Reading
Oil Markets Will Tighten Regardless Of OPEC’s Decision
The oil market is tightening and will continue to draw down inventories for the rest of the year. This drawdown is largely due to OPEC+ offering less supply than the Continue Reading
Oil edges up as OPEC+ seeks to break impasse over supply
Oil prices were slightly up on Monday with investors and traders awaiting crucial talks by OPEC+ following disagreement over output within the group that could lead to major producers pumping Continue Reading
Brent Oil Steady With Tension Building Before OPEC+ Talks Resume
Saudi Arabia Energy Minister Prince Abdulaziz bin Salman insists that OPEC+ must extend its production agreement to the end of next year. Brent oil was steady near $76 a barrel Continue Reading
Crude oil futures steady as OPEC+ discord keeps August production plan in limbo
Crude oil futures were steady during mid-morning trade in Asia July 5 as the market continued to await guidance on the OPEC+ alliance’s production plan for August onwards after the Continue Reading
Why Oil Prices Won’t Hit $100
A remarkable oil rally has seen oil prices climb almost 34 percent so far this year. Bullish sentiment is now driving speculation of $100 oil in 2021 as collective confidence Continue Reading
Oil Prices Settle for Week Amid Lingering OPEC+ Dispute
Oil posted its sixth straight weekly gain, the longest winning streak since December, as the standoff between OPEC+ ministers over output dragged on at the alliance’s full meeting on Friday. Continue Reading
OIL FUTURES: Crude prices hold steady amid OPEC+ cautious optimism
Crude oil futures largely held steady July 2 amid optimism that the OPEC+ group would agree to smaller production hikes below market expectations through the end of 2021, although oil Continue Reading
Oil Holds Near $75 as Brinkmanship at OPEC+ Threatens Deal
Oil held Thursday’s gain after infighting within OPEC+ delayed a much-anticipated decision on raising output levels, risking an inflationary spike in prices if the group can’t come to an agreement. Continue Reading
Oil Holds Near $75 as Brinkmanship at OPEC+ Threatens Deal
OPEC+ Oil Deal Hangs in the Balance Oil held Thursday’s gain after infighting within OPEC+ delayed a much-anticipated decision on raising output levels, risking an inflationary spike in prices if Continue Reading
Oil dips after OPEC+ extends supply talks
Oil prices edged lower on Friday after OPEC+ ministers delayed their output policy meeting, with sources saying the United Arab Emirates had balked at plans to return 2 million barrels Continue Reading
OIL FUTURES: Crude rallies after smaller-than-expected OPEC+ output increase
Highlights OPEC+ August output could rise just 400,000 b/d Monitoring committee adjourns without recommendation Brent-WTI spread narrowest since Oct 2020 Crude futures settled higher July 1 after a smaller-than-expected bump Continue Reading
Oil prices rise ahead of OPEC+ decision on supply cuts
Oil prices rose on Thursday, supported by lower U.S. inventories and the prospect of strengthening demand, while investors awaited a decision from OPEC+ producers on whether they would maintain or Continue Reading
Oil Climbs to Highest Since 2018 as Market Eyes OPEC+ Meeting
Amrita Sen says OPEC+ is likely to raise output by “anything up to 500,000 barrels per day.” Oil rose above $74 a barrel as the market waited for a meeting Continue Reading
Get Ready For $6 Gas
Iranian President Mahmoud Ahmadinejad has announced plans for discussions with Arab nations about plans to enrich uranium in a neutral country outside of the the Middle-Eastern region, such as Switzerland Continue Reading
Global gas prices rally on hot summer, storage demand
Global prices for natural gas are at multi-year highs, with high temperatures driving up demand for power generation in the northern hemisphere for air conditioning and as traders in some Continue Reading
What’s Behind The Massive Fluctuation In Natural Gas Prices?
The Texas Freeze was one of those unprecedented events that have the potential to upend the way things are done, in this case, in power utilities. The crisis, which saw Continue Reading
This Norwegian Flagship Crude Could Save The Brent Benchmark
Deliberations on which benchmark presents the best opportunities to trade just never seem to stop. The gradual decline of all erstwhile champions of North Sea output champions has compelled pricing Continue Reading
Oil Set for Best Half Since 2009 as Demand Recovery Accelerates
Oil is heading for its best half since 2009 as the rebound from the pandemic boosts fuel consumption and tightens the market ahead of a key OPEC+ meeting that’s expected Continue Reading
Oil rises a second day as stockpiles fall, supply tightens
Oil prices on Wednesday extended the previous day’s small gains after an industry report showed U.S. crude stockpiles fell last week, overriding trader and investor concerns about transportation curbs in Continue Reading
Oil Prices Advance As OPEC+ Deals with Setback
Oil closed higher with OPEC+ ministers divided ahead of a key meeting later this week on production policy. Futures in New York managed to eke out a small advance after Continue Reading
Crude oil futures extend overnight losses on renewed pandemic concerns
0255 GMT: Crude oil futures ticked lower during mid-morning trade in Asia June 29, extending the overnight downtrend, as the spread of the delta variant of the coronavirus raised concerns Continue Reading
Oil Slides With Covid Concerns Resurfacing Ahead of OPEC+ Meet
Oil fell as a coronavirus resurgence raised concerns about demand ahead of an OPEC+ meeting this week that could see the alliance boost some halted output. Futures in New York Continue Reading
Oil drops as COVID-19 surges threaten fuel demand outlook
Oil prices dropped for a second day on Tuesday on worries about slower fuel demand growth as outbreaks of the highly contagious Delta variant of coronavirus sparked new mobility restrictions Continue Reading
Oil drifts near 2018 highs ahead of OPEC+ meeting
Oil prices hit and then recoiled from highs last seen in October 2018 on Monday as investors eyed the outcome of this week’s OPEC+ meeting as the United States and Continue Reading
Crude oil futures flat as market eyes OPEC+ meeting
Crude oil futures were flat during the mid-morning trade in Asia June 28, as the market awaited the upcoming OPEC+ meeting later in the week for pricing cues. At 10:18 Continue Reading
Oil drifts near 2018 highs ahead of OPEC+ meeting
Oil prices hit and then recoiled from highs last seen in October 2018 on Monday as investors eyed the outcome of this week’s OPEC+ meeting as the United States and Continue Reading