Oil in London moved back above $40 a barrel, as markets broadly rebounded from Tuesday’s sharp selloff. Futures rose 1.1% after a precipitous slump a day earlier that saw prices settle Continue Reading
Along with WTI and Brent crude prices, natural gas prices fell precipitously on Tuesday, but the regional differences in gas prices during the last couple of months are shrinking according Continue Reading
Faltering demand and weaker equities are undermining market sentiment. (Bloomberg) — Crude in London tumbled below $40 a barrel for the first time since late June and futures in New Continue Reading
Oil prices crashed at the start of the week, with fears about global oil demand and a weak stock market being the main catalysts. Chart of the Week – U.S. Continue Reading
Fitch Ratings has lowered its long-term price assumption for West Texas Intermediate to $50 from $52 a barrel expected earlier, to reflect fragile market balances, inventory overhangs, lower breakevens, and Continue Reading
Oil fell to its lowest intraday level since July as signs of faltering demand continue to depress prices. Futures in London traded below $42 a barrel after dropping 1.5% on Continue Reading
Oil extended its retreat below $40 a barrel after Saudi Arabia cut pricing for October crude sales as the summer driving season winds down with many countries still struggling to Continue Reading
Oil extended its retreat below $40 a barrel after Saudi Arabia cut pricing for October crude sales as demand stuck below pre-Covid levels. Futures in New York dropped after Saudi Continue Reading
Oil prices have been locked in the current price range for months now, with price volatility dropping drastically. It seemed that only inventory reports, OPEC’s compliance rate, and the re-opening Continue Reading
Crude oil bears increased their selling pressures as oil traders reacted to Saudi’s massive price cuts for supply to Asia. The Saudis made their biggest discounts on their crude grades Continue Reading
Oil extended its retreat below $40 a barrel after Saudi Arabia cut pricing for October crude sales, as demand struggles to fully recover from the coronavirus outbreak. Futures in New York Continue Reading
Crude oil futures prices fell further Sept. 4, with front-month contracts settling near two-month lows as global demand outlooks dimmed following a mixed US jobs report. NYMEX October WTI settled Continue Reading
Oil in New York is poised for the biggest weekly decline since early June. (Bloomberg) — Oil in New York is poised for the biggest weekly decline since early June Continue Reading
Oil in New York closed below $40 a barrel for the first time in a month as a selloff in broader markets exacerbated concerns over weakening demand following a sluggish Continue Reading
Okay, I finally get to say it! It has been a big, interesting week for crude oil! After months of essentially range trading, with the main WTI futures contract, CL, Continue Reading
Oil prices fell below $40 for the first time since June as demand concerns grow and stock markets crash. For Global Energy Alert members there are now two new free Continue Reading
Oil prices fell more than 3% on Friday and posted their biggest weekly decline since June as fears of a slow economic recovery from the COVID-19 pandemic compounded worries about Continue Reading
U.S. drivers can look forward to cheap gasoline heading into Labor Day Weekend, spelling hard times ahead for an oil industry that’s already been clobbered by the coronavirus. Gasoline prices on Continue Reading
Oil erased earlier losses as the dollar’s decline makes commodities more attractive, but crude was still headed for a weekly drop over demand concerns. Futures in New York rose 0.8% while Continue Reading
Oil dipped to its lowest level in nearly a month with a stronger dollar, looming extra supplies from Iraq and depressed demand all contributing to the bearish sentiment. U.S. benchmark crude Continue Reading
Oil prices dropped on Thursday morning, extending losses from Wednesday’s close to the lowest levels in more than a month, after U.S. data showed gasoline demand is faltering despite major Continue Reading
Crude oil futures were rangebound during mid-morning trade Sept. 3 as the market clawed back some overnight losses, led by waning sentiment in a highly uncertain macroeconomic environment amid a Continue Reading
Oil prices extended losses on Thursday, falling to their lowest point since early August, as worries about weaker U.S. gasoline demand and a sluggish economic recovery from the COVID-19 pandemic Continue Reading
Oil prices took a tumble on Wednesday post-EIA report, despite a favorable crude inventory report that showed oil inventories in the United States had shrunk by nearly ten million barrels. Continue Reading
Crude oil futures were higher during mid-morning Asian trade Sept. 2 as the US’ manufacturing data for August was stronger-than-expected and a private inventory report released late Sept. 1 showed Continue Reading
Oil was trading near $43 a barrel in New York on signs U.S. crude stockpiles extended declines for a sixth week, easing a glut. The American Petroleum Institute reported crude inventories dropped by Continue Reading
Goldman Sachs expects Brent crude to reach $65 a barrel in the third quarter of 2021, although it could end the year lower, at $58 a barrel, according to Goldman Continue Reading
The American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 6.360 million barrels for the week ending August 28. Analysts had predicted an inventory draw Continue Reading
One of the themes that is emerging as we review investment candidates is the era of oil growth, which is at least going to take a substantial pause, if it Continue Reading
Crude oil futures were higher in mid-morning trade on Sept. 1 as a weaker dollar and robust Chinese economic data lifted the global crude complex despite the rising coronavirus case Continue Reading
Oil rose to trade near $43 a barrel in New York, with support from a weaker dollar and expectations of a further decline in U.S. stockpiles. Futures added 1.1% after the Continue Reading
Oil prices gained on Tuesday, reversing overnight losses, as investors moved into risk assets and stayed away from the safe-haven U.S. dollar which hit multi-year lows. Brent crude LCOc1 futures Continue Reading
Oil dipped as a surge in coronavirus infections hitting the world’s major economies weighed on the prospect for a demand recovery even as China’s economic activity improves. While a gauge Continue Reading
Natural gas prices sank early on Monday on expectations of lower demand due to cooler weather and lower liquefied natural gas (LNG) feed in the aftermath of Hurricane Laura passing Continue Reading
Oil rose above $43 a barrel in New York to its highest closing level since early March amid a broader rally in equities and as China’s economic recovery continued. West Texas Continue Reading
Crude oil prices were higher in mid-morning trade in Asia Aug. 31 on expectations of continuing supply disruptions in the US Gulf Coast in the wake of Hurricane Laura. At Continue Reading
Oil rose for a fourth week in a row as U.S. Gulf Coast refineries began restarting though gains were capped as investors shifted their focus from the storm toward the Continue Reading
Oil flipped between gains and losses on Friday with the market weighing renewed appetite from U.S. Gulf Coast plants restarting after Hurricane Laura against a pandemic dimming the prospects for Continue Reading
Oil prices retreated on Friday morning as it became clear that the damage caused by hurricane Laura was not as bad as markets had expected For Global Energy Alert members Continue Reading
The Henry Hub 12-month forward curve has increased by more than 40 cents over the last month to $2.88/MMBtu, propelling multiple gas plays to boast internal rates of return per Continue Reading
U.S. West Texas Intermediate crude oil futures are trading slightly better on Friday as Hurricane Laura moved beyond the heart of the U.S. oil industry in Louisiana and Texas without Continue Reading
1. Oil volatility collapses – For two months, the oil market has been incredibly boring. Brent futures have not moved more than $1 per barrel in either direction over a Continue Reading
Looking at the oil market over the past week, it would be hard to tell that the strongest hurricane in more than a century tore through the Gulf of Mexico Continue Reading
New Jersey’s gasoline tax will rise 22%, to 50.7 cents per gallon, to maintain a revenue stream for road and rail projects amid a massive drop in fuel consumption. Diesel Continue Reading
Crude oil futures were lower in midmorning trade in Asia on Aug. 28 as they gave up previous gains on a possible supply disruption risk from Hurricane Laura, after most Continue Reading
Oil stayed in its recent tight range after Hurricane Laura swept the U.S. energy heartland without appearing to inflict major damage on key infrastructure. Futures in New York were steady Continue Reading
Oil held at a five-month high as Hurricane Laura bore down on key refining facilities on the U.S. Gulf Coast and an industry report added to optimism that American energy Continue Reading
Oil prices steadied on Wednesday, pressured by worries about the demand outlook during the coronavirus pandemic but buoyed as U.S. producers shut output in the Gulf of Mexico ahead of Continue Reading
Crude oil price rallied further today after the Energy Information Administration reported a crude oil inventory draw of 4.7 million barrels for the week to August 21. At 507.8 million Continue Reading
The American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 4.524 million barrels for the week ending August 21. Analysts had predicted an inventory draw Continue Reading
