Brent-WTI Spread Widens To Over $8 As U.S. Gasoline Demand Slows
The spread between Brent crude oil prices and West Texas Intermediate (WTI) hit its widest level in over three years on Monday, with WTI down more than $8 compared to Continue Reading
Stuck in Reverse? Gas Prices Slide Lower
Lackluster demand for gas and lower oil prices led to pump prices falling again, down 17 cents since last week to $4.35. The steady decline is due to low domestic Continue Reading
USA EIA Lowers Oil Price Forecasts
The U.S. Energy Information Administration lowered its Brent crude oil price forecasts. The U.S. Energy Information Administration (EIA) lowered its Brent crude oil price forecasts for 2022 and 2023 in Continue Reading
European gas prices soar after Russia deepens supply cuts
European gas prices hit a five-month high after Russia deepened supply cuts to the continent in Moscow’s latest attempt to weaponize energy supplies. Futures contracts for delivery next month tied Continue Reading
Oil steady as market juggles Fed hike with supply fears
Oil prices were relatively steady on Monday as the market balanced supply fears with expectations that rise in U.S. interest rates would weaken fuel demand. Brent crude futures for September Continue Reading
Oil Swings as Tight Crude Market Competes With Economy Fears
Oil fluctuated as concerns about weakness in the global economy jostled with signs of tight physical crude supply. West Texas Intermediate reversed declines as the dollar wiped out an earlier Continue Reading
Global gasoline cracks collapse, blow to refiners’ profits
A sudden crash in global gasoline prices in the past two weeks has dented refiners’ profits, pushing up inventories in key trading hubs around the world while looming exports from Continue Reading
Russian Gas Supply Uncertainty Sends Asia LNG Prices Surging
Asian natural gas prices are rallying on fears that Russia will slash supply again and worsen a global fuel shortage. The North Asia liquefied natural gas benchmark jumped 12% Friday, Continue Reading
European Gas Prices Advance on Russian Pipeline Uncertainty
European natural gas prices rose for a fourth consecutive session, with little clarity on future volumes via a major Russian pipeline. While the Nord Stream pipeline is sending gas to Continue Reading
Crude Fluctuates Amid Soft European Economic Data
Oil swung between gains and losses after European economic data missed estimates, fanning concerns of an economic slowdown. Global benchmark Brent fell as much as 0.6%, to trade near $103 Continue Reading