OPEC Is Costing Oil Tanker Owners Money
Times are getting tougher by the day for oil tanker owners. With too many vessels to haul fuel, losses for supertankers on a benchmark Middle East-to-China route deepened to $6,779 Continue Reading
Oil Prices Decline Again
Oil pulled back from recent multi-year highs after technical indicators showed crude rallied too far too fast. (Bloomberg) — Oil pulled back from recent multi-year highs after technical indicators showed Continue Reading
Oil Prices Slide On Yet Another Surprise Inventory Build
The American Petroleum Institute (API) reported on Tuesday a build in crude oil inventories of 12.792 million barrels for the week ending March 5. Analysts had predicted an inventory build Continue Reading
How Oil Could Go To $100 Per Barrel
In its February Short Term Energy Outlook (STEO), the EIA forecasts this month’s world oil consumption at 96.7 million barrels per day (mbpd). The oil supply, however, is much lower, Continue Reading
Oil slips below $68 as rally fizzles before U.S. supply report
Oil fell to around $68 a barrel on Tuesday in a choppy session, pressured as concerns faded of a supply disruption in Saudi Arabia, which countered a pause in the Continue Reading
Giant Oil Tankers Are Losing Almost $7,000 a Day Amid OPEC Cuts – Bloomberg
Times are getting tougher by the day for oil tanker owners. With too many vessels to haul fuel, losses for supertankers on a benchmark Middle East-to-China route deepened to $6,779 a Continue Reading
ANALYSIS: EIA revises Brent, WTI price outlooks higher amid tightened 2021 supply outlook
The US Energy Information Administration revised its crude price forecast higher in its monthly Short-Term Energy Outlook released March 9 amid tightened first quarter supply outlooks. Receive daily email alerts, Continue Reading
Crude oil futures rise on bullish fundamentals as dust from Saudi attacks settles
Crude oil futures rose during the mid-morning trade in Asia March 9, as expectations of higher oil demand amid an improved economic climate encouraged buying activity from investors, even as Continue Reading
$70 Oil May Cause Slowdown In Demand Recovery
While the unexpected rollover of the OPEC+ production cuts sent Brent Crude prices up to $70 a barrel, the highest oil prices in more than a year could dampen global Continue Reading
Oil Prices Fall as Greenback Bulks Up
Oil fell the most in a week as the dollar strengthened and investors shrugged off an attack on the world’s largest crude terminal in Saudi Arabia. Global benchmark Brent futures Continue Reading