• 4 mintues Texas forced to have rolling brown outs. Not from downed power line , but because the wind energy turbines are frozen.
  • 7 minutes Forecasts for oil stocks.
  • 9 minutes Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 13 minutes European gas market to 2040 according to Platts Analitics
  • 2 days Simple question: What is the expected impact in electricity Demand when EV deployment exceeds 10%
  • 2 hours America's pandemic dead deserve accountability after Birx disclosure
  • 7 hours Biden about to face first real test. Russia building up military on Ukraine border.
  • 3 days Trump punches back at Fauci and Birx's revisionist history (aka lies)
  • 9 mins Fukushima
  • 23 mins CO2 Mitigation on Earth and Magnesium Civilization on Mars – Just Add Water
  • 2 days U.S. and Chinese investors to buy Saudi pipelines , $10 Billion deal.
  • 3 days Create a new law "Postericide" to prosecute and imprison Climate Change "Deniers"
  • 13 hours New Chinese Coal Plants Equal All those in U.S.A
  • 21 hours Does .001 of Atmosphere Control Earth's Climate?!
  • 4 days Goldman Betting on Cryptocurrencies
  • 9 hours The coming Cyber Attack
  • 2 days NG spot prices hit triple digits for weekend delivery
Investors Rush To Oil Stocks Despite ESG Push

Investors Rush To Oil Stocks Despite ESG Push

ESG investing may be all…

Tesla’s Biggest Competitor Is Ditching Nickel And Cobalt

Tesla’s Biggest Competitor Is Ditching Nickel And Cobalt

The world’s second-largest electric vehicle…

Biden’s Gold Boom: Why the Yellow Metal Could Fly in 2021

Biden’s Gold Boom: Why the Yellow Metal Could Fly in 2021

As the Biden Administration prepares…

Editorial Dept

Editorial Dept

More Info

Premium Content

Will Oil Prices Break Out Of Their Range?

U.S. West Texas Intermediate is trading lower on Friday after giving back earlier gains. Some traders are saying the markets are taking a breather from the nearly 10% run-up this week, but we could be looking at profit-taking related to an easing of concerns over Hurricane Delta as it makes its way toward oil production facilities near the Louisiana coast. Additionally, there are reports that the strike could end later today.

Week-Long Price Surge Driven by Norwegian Strike

Oil prices are easing early Friday in a breather at the end of a week of big gains propelled by a strike in Norway that raised the prospect of supply from the major producer being slashed by up to 25%.

“This could see almost one million barrels a day of crude oil impacted,” ANZ Research said in a note.

Norwegian oil company and labor officials said they will meet a state-appointed mediator on Friday in an attempt both sides hope will bring an end to a strike that threatens to strip out about a quarter of the country’s oil and gas output.

Output Halted by Hurricane Delta

Traders are also bracing for the impact on U.S. production of Hurricane Delta, forecast to strike the Gulf Coast within hours. Nearly 1.5 million barrels of daily output has been halted so far.

This has now become a short-term event. Traders will be watching closely for any damage that could knock the platforms out for several days or weeks. Otherwise, companies will start implementing…





Leave a comment

Leave a comment




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