Trump scrapping Iran deal will cause gas, oil price spikes
Gas prices might get to $3 per gallon and the current rally in oil prices will kick into overdrive if Trump denies a waiver on Iranian sanctions, experts said. U.S. Continue Reading
Gasoline in the US Still a Good Deal
Average gasoline price in US is still low compared to other OECD countries. Although it doesn’t expect gasoline prices to set any records in 2018, GasBuddy predicts that the U.S. Continue Reading
Oil dips away from three-year highs on signs of overheated market
Oil dipped away from three-year highs on Thursday on signs that a 13-percent rally since early December may have run its course, although a surprise drop in U.S. production and Continue Reading
3 Million Barrels Per Day Could Go Offline In 2018
Late last year, Venezuela’s government defaulted on millions of dollars’ worth of debt , with larger and more significant payments maturing this year. The ability to service billions in debt Continue Reading
Oil rally takes Brent crude closer to 3-year high
Brent crude has risen to its highest price level in almost three years as Opec-led production cuts take effect, global oil stockpiles fall and geopolitical tensions rise, overriding concerns about Continue Reading
Whispers of $80 Oil Are Growing Louder
On Wednesday, U.S. crude futures rose 0.97% to $63.57 a barrel and Brent, the global benchmark, was up 0.55% at $69.20 a barrel. Byron Wien, vice chairman of the Private Continue Reading
Goldman: OPEC Will Talk Oil Prices Down If Brent Tops $70
OPEC doesn’t want central banks around the world the start responding to inflationary pressure from oil prices above $70 a barrel, nor do they want U.S. shale investments to rise, Continue Reading
Is The Current Oil Price Rally A “Head Fake?”
With oil prices at their highest level since 2015, the next stop along the way seems to be $70 per barrel. However, some analysts see the more likely scenario as Continue Reading
U.S. oil hits highest since 2014, worries grow of overheated market
U.S. oil prices hit their highest since 2014 on Wednesday as OPEC-led production cuts and healthy demand helped to balance the market, but analysts warned of possible overheating. A broad, Continue Reading
Oil Prices Rise After API Reports Staggering Crude Oil Draw
The American Petroleum Institute (API) reported a staggeringly large draw of 11.19 million barrels of United States crude oil inventories for the week ending January 5, marking six large draws Continue Reading