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Tag Archives: oil price
Oil Prices Rebound As U.S. Walks Back Plan To Tap Strategic Petroleum Reserve
Oil Prices Rebound As U.S. Walks Back Plan To Tap Strategic Petroleum Reserve The U.S. Department of Energy is walking back previous comments that it was considering a release of the Strategic Petroleum Reserve and a ban on crude oil exports The DoE isn’t considering tapping the SPR “at this time” Goldman Sachs: SPR release […]
One Of Wall Street’s Biggest Oil Bears Sees Higher Crude Prices On The Horizon
One Of Wall Street’s Biggest Oil Bears Sees Higher Crude Prices On The Horizon Standard Chartered Global Research has maintained its somewhat bearish oil price outlook during the last couple of months, but last week, the investment bank suddenly turned bullish Standard Chartered raised its 2021 average Brent price forecast by USD 6/bbl to USD […]
Someone is betting that oil will soar to a record US$200 per barrel
Someone is betting that oil will soar to a record US$200 per barrel Crude oil prices are falling after inventories revealed a build in stockpiles for the first time in eight weeks after natural disasters knocked several U.S. refineries offline. Could the energy crunch get so bad that oil prices hit US$200 a barrel? One […]
Chevron CEO Warns “New Dynamics” To Boost Energy Prices Amid Global Supply Crunch
Chevron CEO Warns “New Dynamics” To Boost Energy Prices Amid Global Supply Crunch Soaring energy prices are stoking new concerns about a stagflationary environment of high prices and waning economic growth. Natural gas prices in Europe and the US are through the roof, and WTI futures are over $70 per barrel. Chevron Corp.’s CEO Mike […]
Oil Spreads Trading at Historically Unrealizable Levels
Oil Spreads Trading at Historically Unrealizable Levels Outright oil prices have continued to rally this year as economies recover from impaired pandemic levels, however calendar spreads have been unable to realize their bullish intent. In fact, calendar spread structures have continued to disappoint into expiration. In some respects this is less about a failure of […]
Unstoppable Oil Could Be Nail In Coffin For Stocks
Unstoppable Oil Could Be Nail In Coffin For Stocks Stock investors worried about inflation should pay close attention to the rising price of oil. It could be the final kick needed to derail the consumer-spending spree behind the U.S.’s surging growth. From groceries to housing materials to gasoline, life is getting expensive for the average […]
Brace For Shock At The Pump: WTI Surges Above $75 As OPEC+ Raises Output Less Than Expected
Brace For Shock At The Pump: WTI Surges Above $75 As OPEC+ Raises Output Less Than Expected Brace for shock at the pump. WTI crude prices surged by over $2, rising more than 3% to $75.8/bbl… … the highest since 2018… … amid reports that ahead of the conclusion of today’s OPEC, JMMC and OPEC+ […]
Oil Prices Set To Head Even Higher As Market Tightens
Oil Prices Set To Head Even Higher As Market Tightens Solid oil demand is driving up the spot crude prices in every part of the world. This is a clear indication that the physical oil market is finally catching up with the recent rally in the paper market. The strengthening appetite for crude in Asia […]
Decade Of Chaos Could Send Oil To $130 Per Barrel
Decade Of Chaos Could Send Oil To $130 Per Barrel From $35 per barrel to $130 per barrel—this is the range for oil prices in the next few years that we could see, according to a commodity trading group. And it will all depend on what peaks first: demand or investment in new production. “You could […]
ESG = Energy Stops Growing
ESG = Energy Stops Growing For most of my career, oil demand has grown each year and supply has roughly kept up. Sure, it’s overshot in both directions. We’ve seen shortages and we’ve seen gluts. We’ve even seen oil go negative. Throughout this time, we’ve always intuitively known that the cure for high prices is […]
The Ugly Truth About Renewable Power
The Ugly Truth About Renewable Power When Texas literally froze this February, some blamed the blackouts that left millions of Texans in the dark on the wind turbines. Others blamed them on the gas-fired power plants. The truth isn’t so politically simple. In truth, both wind turbines and gas plants froze because of the abnormal weather. And […]
U.S. Oil Bankruptcies Shoot Up In Q1 2021
U.S. Oil Bankruptcies Shoot Up In Q1 2021 The number of North American producers that filed for bankruptcy protection in the first quarter of 2021 reached the highest number for a first quarter since 2016, yet the wave of bankruptcies has significantly slowed since the peaks in the second and third quarter of 2020, law […]
What To Expect From Today’s OPEC+ Meeting: Another Saudi Surprise?
What To Expect From Today’s OPEC+ Meeting: Another Saudi Surprise? After Wednesday’s JMMC meeting ended without reaching a recommendation (as is customary and expected), the key decision-making OPEC+ meeting – where ministers will hammer out May’s output quotas – begins at 1pm London Time. As Newsquawk notes, market expectations are skewed towards an extension of current cuts, […]
Shale Giants Proving OPEC Right
Shale Giants Proving OPEC Right Saudi Arabia’s bet that the golden age of U.S. shale is over appears to be a safe one – for now, at least. (Bloomberg) — Saudi Arabia’s bet that the golden age of U.S. shale is over appears to be a safe one — for now, at least. A round-up […]
Happy Days At The Gas Pump Are Over As Prices Soar
Happy Days At The Gas Pump Are Over As Prices Soar When the virus pandemic first hit early last year, Americans were locked down in their homes as gasoline demand plunged and prices crashed. Last April, the nationwide average for gasoline was around $2. According to AAA, prices are surging nationwide, up 32 cents in the previous […]
