• 4 minutes Is The Three Gorges Dam on the Brink of Collapse?
  • 8 minutes The Coal Industry May Never Recover From The Pandemic
  • 11 minutes China Raids Bank and Investor Accounts
  • 3 hours Why Wind is pitiful for most regions on earth
  • 32 mins Is OilPrice a cover for Green Propganda
  • 18 mins During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 4 hours Sources confirm Trump to sign two new Executive orders.
  • 17 hours In a Nutshell...
  • 2 days Joe Biden to black radio host, " If you don't vote for me you ain't black". That's our Democratic Party nominee ?
  • 3 days Happy 4th of July!
  • 2 days Putin Paid Militants to Kill US Troops
  • 2 days Putin Forever: Russians Given Money As Vote That Could Extend Putin's Rule Draws To A Close
  • 3 days Tesla Model 3 police cars pay for themselves faster than expected, says police chief
  • 9 hours Coronavirus hype biggest political hoax in history
  • 2 days Apology Accepted!
  • 3 days Victor Davis Hansen on Biden's mental acuity " . . unfit to serve". With 1 out of 5 Democrats admitting it. How many Dem's believe it but will not admit it?
Is The UK Doing Enough To Stimulate EV Sales?

Is The UK Doing Enough To Stimulate EV Sales?

Electric vehicle sales in the…

Satellite Data Exposes A Massive Methane Problem

Satellite Data Exposes A Massive Methane Problem

A satellite monitoring company has…

Jim Hyerczyk

Jim Hyerczyk

Fundamental and technical analyst with 30 years experience.

More Info

Premium Content

Can The Bull Run In Oil Markets Continue?

U.S. West Texas Intermediate and international benchmark Brent crude oil futures are on track for their first weekly gains this month, while moving into a position to challenge their highs for the year. Fears of supply disruptions, fueled by rising tensions in the Middle East, are the catalysts behind the strong gains.

The bullish theme this week is being driven by worries about supply. Early in the week, prices rose after attacks on Saudi Arabian operations, but those gains were wiped out by renewed concerns over U.S.-China trade relations. However, as the week wore on, crude oil traders put less emphasis on this issue and shifted their focus on potential supply disruptions due to heightened concerns over possible military activity in the Middle East.

Throughout the week, buyers slowly clawed back earlier losses as the headlines continued to indicate tensions were brewing between Iran, the United States and Saudi Arabia. A few isolated incidences drove the price action during the week, but collectively, they pointed toward a potential military conflict in the region. These events include:

Escalation of Middle East Military Activity

According to CNBC, “A Saudi-led military coalition in Yemen carried out several air strikes on the Houthi-held capital Sanaa on Thursday after the Iranian-aligned movement claimed responsibility for drone attacks on two Saudi oil pumping stations earlier in the week.”

U.S. Middle East Activity This Week

Citing…





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News