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Energy / Oil Prices

Saudi Arabia Hikes Oil Prices For The Third Consecutive Month

Jul 06, 2020 at 09:27 | Tsvetana Paraskova

Brent oil prices rose early on Monday after Saudi Arabia raised its oil price for a third consecutive month, signaling recovering demand. As of 9:26 a.m. EDT on Monday, Brent…

Second Covid Wave Could Send Oil Prices Into “Tailspin”

Jul 03, 2020 at 16:58 | Nick Cunningham

Oil prices hit a four-month high on Thursday, pushed higher by supply restrictions and a global rebound in demand. However, the accelerating spread of the coronavirus across the…

Oil Prices Fall As Demand Outlook Worsens In U.S.

Jul 03, 2020 at 11:59 | Tsvetana Paraskova

Oil prices fell early on Friday amid surging new coronavirus infections in the United States, which had market participants worried about the U.S. oil demand recovery trend. As of 9:20…

Goldman Sachs Expects Crude Prices To Rise In 2021

Jul 02, 2020 at 09:47 | Irina Slav

Goldman Sachs’ commodity analysts remain guarded about oil’s potential to rise over the near term, but in 2021, prices may start to improve, commodity chief Jeffrey Currie told Bloomberg’s Alix Steel.…

Citigroup: Oil Will Never Return To $100

Jul 02, 2020 at 09:00 | Irina Slav

Crude oil prices are unlikely to return to three-digit levels ever again, Citigroup commodity analysts said in a note, as quoted by Bloomberg. The idea of oil at $100 or higher,…

Aramco CEO Says The Worst Is Over For Oil

Jun 30, 2020 at 12:27 | Tsvetana Paraskova

The worst in the oil market is over, Amin Nasser, president and CEO of the world’s biggest oil company, Saudi Aramco, says, adding that he is “very optimistic” for the…

Chinese Oil Majors Could Form A Powerful Buyers Club

Jun 29, 2020 at 10:00 | Irina Slav

China’s state-owned oil companies—Sinopec, CNOOC, PetroChina, and Sinochem—are discussing an arrangement to buy crude oil together instead of individually, to avoid bidding wars and gain more bargaining power, unnamed sources…

Oil May Never Hit $100 Again

Jun 24, 2020 at 17:37 | Alex Kimani

For more than a week now, oil prices have consolidated around the psychologically important $40/barrel level as the worst of the recent oil price crash appears to be…

WTI Jumps To $40 On Demand Recovery

Jun 19, 2020 at 11:02 | Tsvetana Paraskova

The U.S. benchmark WTI Crude jumped to $40 a barrel early on Friday with oil prices heading for a strong weekly gain, after the OPEC+ group had laggards pledge full…

Oil Prices Remain Excessively Vulnerable To Shocks

Jun 16, 2020 at 15:57 | Irina Slav

Crude oil price started the week on the seesaw, with headwinds and tailwinds battling for control in a persistently unstable market situation. A spike in Covid-19 infections on the one…

UAE: Output Cuts Will Send Oil Prices To ‘Normal’ Levels

Jun 16, 2020 at 10:19 | Tom Kool

The ongoing record production cuts from the OPEC+ group are set to push oil prices up to ‘normal’ levels soon, Suhail Al Mazrouei, energy minister of the United Arab Emirates…

Will America’s Pipeline Operators Survive The Oil Crisis?

Jun 12, 2020 at 15:07 | Irina Slav

When shale drillers in the world’s largest oil producer started shutting in oil wells that had suddenly become uneconomical, many in the industry breathed a sigh of relief.…

Oil Set For First Weekly Loss In Seven Weeks

Jun 12, 2020 at 10:51 | Tsvetana Paraskova

Despite the fact that oil posted mixed results on Friday morning, prices were set for their first weekly loss in seven weeks after a spike in coronavirus infections across the…

Barclays Expects Higher Oil Prices But Slow Recovery

Jun 12, 2020 at 10:04 | Irina Slav

Barclays raised its oil price forecast for crude oil by $4 a barrel but noted that the price improvements will be slow. Reuters reports the bank now expects Brent…

The Tiny Island Nation That Can’t Get It’s Natural Gas Boom Going

Jun 11, 2020 at 11:06 | Viktor Katona

The Eastern Mediterranean was one of Europe’s most closely followed drilling regions – for many years leading European politicians have espoused the idea of connecting the offshore bounties…

Oil Prices Crash On Second Wave Of COVID-19

Jun 11, 2020 at 08:51 | Michael Kern

Oil has had a turbulent year. Crude prices went negative for the first time in history, followed by one of the biggest rallies the industry has ever seen. And now,…

The Most Dramatic Year In The History Of Oil

Jun 10, 2020 at 11:43 | Charles Kennedy

There are very few industries in the world that have been hit as hard or are set to face as many consequences as the oil and gas industry…

Goldman Sachs Banked A Billion Dollars On The Oil Price Crash

Jun 10, 2020 at 11:39 | ZeroHedge

Back in late March, Goldman stunned commodity traders when its energy strategist Jeffrey Currie predicted that landlocked oil (such as WTI, and unlike…

$35 Brent: Goldman Sachs Turns Bearish On Oil

Jun 08, 2020 at 13:27 | Tsvetana Paraskova

The relief rally in oil may be coming to an end as oil market fundamentals are turning bearish once again and pointing to Brent Crude slipping back to $35 in…

Morgan Stanley: This Oil Rally Won’t Last

Jun 08, 2020 at 11:05 | Tsvetana Paraskova

Oil prices have likely risen too fast too soon with the market focusing on supply cuts, while global oil demand may not return to pre-COVID-19 levels before the…

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