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Is An Oil Price Spike Imminent?
Is An Oil Price Spike Imminent? As the U.S. market begins its recovery from the double whammy served up by hurricanes Harvey and Irma, my earlier projections of where crude oil prices are headed have come true. Just a little quicker than anticipated. As I am writing this, WTI (West Texas Intermediate, the benchmark crude rate for […]
Is The Sun Setting On The Solar Boom?
Is The Sun Setting On The Solar Boom? The U.S. solar industry is expected to see its expansion significantly curtailed this year after installing record capacity in 2016, marking the first annual decline in installations for the industry. A new report from GTM Research and the Solar Energy Industries Association (SEIA) raises some question marks […]
“Super Critical” Coal Shortage Sends India Scrambling For NatGas
“Super Critical” Coal Shortage Sends India Scrambling For NatGas Big disappointment in the global natural gas industry this week, with majors Total and Eni coming up largely dry in a much-anticipated well offshore Cyprus. But elsewhere things are turning extremely bullish for natgas. With one of the world’s fastest-emerging energy consumers scrambling to get all […]
OPEC’s No. 2 Faces Civil War Threat
OPEC’s No. 2 Faces Civil War Threat Tribal violence in the southern regions of Iraq is erupting on sectarian lines, threatening safety and security at oil facilities, officials told Kurdistan24. A majority of Iraq’s law enforcement network has congregated in the northern and western portions of the country to contain the efforts of the Islamic […]
Hurricane Irma’s Wrath Weighs On Natural Gas
Hurricane Irma’s Wrath Weighs On Natural Gas Hurricane Irma has left millions of people without power in Florida, a critical situation that could take a painfully long period of time to sort out. Estimates vary, but some 9 million people lost power during Hurricane Irma, according to the CEO of Florida Power & Light, the […]
Unknown Oil & Gas Deal Just Changed The Global Energy Balance
Unknown Oil & Gas Deal Just Changed The Global Energy Balance One of the biggest energy stories this year has been Russia’s Rosneft buying India’s Essar Oil — giving the Russian company a firm grip on one of the world’s biggest emerging oil and gas markets. And this past week, that story got more complex. With […]
Refiners Boost Output, But Irma Could Dent Demand
Refiners Boost Output, But Irma Could Dent Demand Texas continues to recover from Hurricane Harvey, and many of the disrupted refineries are ramping up production once again. But the ripple effects from the outages are still being felt, and some Midwestern refineries are benefitting from surging margins stemming from the havoc. Bakken Midwest refining margins […]
Hurricane Irma Prompts Oil Storage, Port Shutdowns
Hurricane Irma Prompts Oil Storage, Port Shutdowns Hurricane Irma has prompted the shutdown of at least two oil storage complexes in the Caribbean, with a combined capacity of 18.6 million barrels, S&P Platts reports. One of these, a 14-million-barrel terminal on the island of St Eustatius operated by NuStar Energy sustained damages to some of […]
The North Sea Oil Recovery Is Dead In The Water
The North Sea Oil Recovery Is Dead In The Water The oil majors issued a vote of confidence for the North Sea in recent days, citing precipitous declines in the cost of production, which they say will revive the region’s oil and gas production. At an oil industry conference in the North Sea’s oil capital, […]
How Vulnerable Are Oil Markets To Extreme Weather?
How Vulnerable Are Oil Markets To Extreme Weather? Last week, Hurricane Harvey made landfall in the United States and for days disrupted the national energy industry. Refineries were closed, pipelines shut down, tankers held out to sea. The price of fuel shot up as gas stations went dry across the country, while crude slumped with […]
Hurricane Irma Could Destroy Oil Demand
Hurricane Irma Could Destroy Oil Demand About half of the shuttered refining capacity along the Gulf Coast could be back up and running by Thursday, assuaging concerns about the possibility of acute gasoline shortages in much of the U.S. The disruptions of more than 4 million barrels per day of refining capacity have been cut […]
A War With North Korea Could Send Oil Prices Skyrocketing
A War With North Korea Could Send Oil Prices Skyrocketing An open military conflict in Northern Asia would disrupt more than a third of global seaborne crude oil trade, Wood Mackenzie warned last week amid yet another escalation between North Korea, its neighbors, and the U.S. Such a conflict would cripple North Asia’s production and […]
How EIA Guestimates Keep Oil Prices Subdued
How EIA Guestimates Keep Oil Prices Subdued The EIA has once again undercut its previous estimates for U.S. oil production, offering further evidence that the U.S. shale industry is not producing as much as everyone thinks. The monthly EIA oil production figures tend to be more accurate than the weekly estimates, although they are published […]
China Readies Yuan-Priced Crude Oil Benchmark Backed By Gold
China Readies Yuan-Priced Crude Oil Benchmark Backed By Gold The world’s top oil importer, China, is preparing to launch a crude oil futures contract denominated in Chinese yuan and convertible into gold, potentially creating the most important Asian oil benchmark and allowing oil exporters to bypass U.S.-dollar denominated benchmarks by trading in yuan, Nikkei Asian […]
Looming Gas Shortage: “Imports Can’t Make Up For This”
Looming Gas Shortage: “Imports Can’t Make Up For This” The East Coast will start feeling the effects of Hurricane Harvey as the gasoline supplied from the Gulf Coast starts to dry up. One of the most important pipelines that ships refined products to the Eastern Seaboard shut down on Thursday, which means that the U.S. […]
