Oil Tumbles Towards $20 As Glut Grows
The brief rebound in oil prices was never going to last in the current environment, and as the global crude glut nears historic highs, prices are heading towards $20 Markets Continue Reading
One Corner of U.S. Oil Market Has Already Seen Negative Prices
In an obscure corner of the American physical oil market, crude prices have turned negative — producers are actually paying consumers to take away the black stuff. The first crude Continue Reading
Here’s What Oil Traders Are Doing To Profit From Ultra-Low Oil Prices
Some of the world’s major oil traders are looking to take advantage of the abnormally low oil prices, Reuters reported on Friday, citing shipping sources, as WTI falls below $22 Continue Reading
World Is Totally Unprepared For What’s Ahead
There’s more evidence finally surfacing in the media of the dire energy predicament the world is now facing. The negative ramifications of peak oil and the falling EROI were going Continue Reading
American Pump Prices Fall Below $2 in First Time in Four Years
U.S. retail gasoline dropped below $2 a gallon for the first time since March 2016, before President Trump was elected. The average pump price fell to $1.99 per gallon Friday, retail tracker GasBuddy said. Continue Reading
The Cheapest Way For Trump To Save U.S. Oil
The President of the United States has the power, at his sole discretion without any other authority, to place a fee on imported oil or products. It becomes variable when Continue Reading
With oil prices down, some federal, state efforts to aid producers stumble
The collapse in oil prices has left many US oil and gas producers teetering on financial ruin, moving federal and state policymakers to take actions aimed at blunting the impact Continue Reading
Oil Set to Eke Out Weekly Gain on Risk Rally Despite Demand Woes
Oil was buoyed by a wider risk rally driven by monetary and fiscal responses to the coronavirus to head for its first weekly gain in five, despite a continued deterioration in Continue Reading
Oil sheds more than $1 as weakening demand outweighs stimulus hopes
Oil prices dropped more than $1 a barrel on Thursday as a growing number of virus-related restrictions on travel slashed global fuel demand, overshadowing expectations that a $2 trillion U.S. Continue Reading
Oil Rally Falters With Demand Dread Countering Stimulus Progress
Oil resumed its decline after the head of the International Energy Agency warned global demand was in ‘free fall’ as coronavirus lockdowns wreak havoc on consumption while major producers pump Continue Reading