• 3 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 5 minutes Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 9 minutes This Battery Uses Up CO2 to Create Energy
  • 12 minutes Shale Oil Fiasco
  • 4 mins Historian Slams Greta. I Don't See Her in Beijing or Delhi.
  • 3 hours We're freezing! Isn't it great? The carbon tax must be working!
  • 18 hours Indonesia Stands Up to China. Will Japan Help?
  • 8 hours US (provocations and tech containment) and Chinese ( restraint and long game) strategies in hegemony conflict
  • 6 hours Beijing Must Face Reality That Taiwan is Independent
  • 19 hours Tesla Will ‘Disappear’ Or ‘Lose 80%’ Of Its Value
  • 23 hours Environmentalists demand oil and gas companies *IN THE USA AND CANADA* reduce emissions to address climate change
  • 10 hours Might be Time for NG Producers to Find New Career
  • 2 days Phase One trade deal, for China it is all about technology war
  • 6 hours Trump has changed into a World Leader
  • 1 day Anti-Macron Protesters Cut Power Lines, Oil Refineries Already Joined Transport Workers as France Anti-Macron Strikes Hit France Hard
  • 2 days Angela Merkel take notice. Russia cut off Belarus oil supply because they would not do as Russia demanded
Alt Text

How China Could Restart The U.S. Oil Export Boom

China may resume purchases of…

Alt Text

Oil Glut Overshadows Geopolitical Risk In 2020

In its latest report, the…

Alt Text

Bringing Transparency To China's Opaque Oil Market

Technological developments are improving market…

Jim Hyerczyk

Jim Hyerczyk

Fundamental and technical analyst with 30 years experience.

More Info

Premium Content

Oil Is Gaining Momentum As Bullish Forces Increase

U.S. West Texas Intermediate oil futures are trading higher early Friday and in a position to post a gain for the week despite the release of a second report calling for a supply glut in 2020. The price action suggests that supply worries are outweighing demand concerns.

Affecting the supply side are a tropical storm in the Gulf of Mexico and heightened tensions in the Middle East. Also helping to generate some upside momentum is another large drawdown in U.S. stockpiles.

Oil Rigs Evacuated Ahead of Storm

Fifteen production platforms and four rigs were evacuated in the north central Gulf of Mexico, according to a U.S. regulator.

According to the latest reports, oil companies in the Gulf of Mexico had cut more than 1 million barrels per day (bpd) of output, or 53% of the region’s production, due to Tropical Storm Barry which could make landfall Saturday on the Louisiana coast.

Iran Creates Disturbance with Britain

Three Iranian vessels tried to block the passage of a British ship run by BP through the Strait of Hormuz, the British government said. They withdrew after warnings from a British warship. Although prices rose in response to the news, apparently the event was anticipated after Iran warned Britain would face “consequences” over the seizure of an Iranian oil tanker.  

U.S. Government Reports Another Big Draw

On Wednesday, the U.S. Energy Information Administration (EIA) reported crude stocks fell…




Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play