• 2 minutes California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 6 minutes China and India are both needing more coal and prices are now extremely high. They need maximum fossil fuel.
  • 11 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 11 hours NordStream2
  • 1 day Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 3 days The Climate Scare Stories Began With Far Left Ideology Per GreenPeace Co-Founder
  • 1 min US intel warns China could dominate advanced technologies By NOMAAN MERCHANT October 22, 2021
  • 1 day Biden Sets Target Of 50% EV Share In U.S. Car Sales In 2030
  • 3 hours Putin and Xi have decided not to attend the Climate Summit in Glasgow
  • 3 days Storage of gas cylinders
  • 3 days "The Hidden Story About California's Container Ship Backlog" via Corbett Report
Oil Prices Will Remain High For Years To Come

Oil Prices Will Remain High For Years To Come

Massive underinvestment and multi-year supply…

Does Divestment From Fossil Fuels Really Work?

Does Divestment From Fossil Fuels Really Work?

As more and more investment…

Editorial Dept

Editorial Dept

More Info

Premium Content

Why $40 Oil Is A Real Possibility

U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are in a position to finish the week sharply lower as well as natural gas futures which pierced the psychological $2.00 level earlier in the week, seemingly on its way to the multi-year low of $1.60.

The catalyst behind the selling pressure is the concern that a virus in China may spread, hurting travel and fuel demand. China is the world’s second-largest oil consumer so any slowdown in travel would show up on its demand forecasts.

This news is overshadowing OPEC and its allies’ cuts in supply and an unexpected drop in U.S. weekly inventories.

Threat of Coronavirus Spreading

The deadly pneumonia-like coronavirus was first identified on December 31 in the Chinese city of Wuhan in Hubei province. It has since spread beyond Wuhan, which has a population of 11 million, to other major cities such as Beijing, Shanghai, Macao, and Hong Kong.

Multiple cases of the virus has been confirmed in Thailand, Vietnam, South Korea and Japan, while the United States, Taiwan and Singapore have each reported one case

Multiple Lockdowns Should Pressure Demand

As of Friday, 10 cities were put under lockdown measures with a total of about 33 million people. Transportation services in Wuhan, the epicenter of the virus, were shut down on January 23 and people were asked to not leave. The airport and train station in the city were also temporarily closed.

Other…





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News