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Energy / Oil Prices

$70 Oil Won't Keep OPEC Happy

Nov 29, 2021 at 10:52 | Irina Slav

One day—that was all it took oil prices to plunge by more than a tenth after health authorities announced the identification of the latest potentially dangerous coronavirus variant…

JPMorgan: $80 Oil Is 'Remarkably Cheap'

Nov 23, 2021 at 11:35 | Charles Kennedy

Oil prices are cheap compared to record highs of other assets including stocks and other commodities, JPMorgan Chase says. Brent Crude was trading at around $81.50 on Tuesday afternoon, and…

Oil Prices Rally After U.S. Announces Strategic Reserve Release

Nov 23, 2021 at 08:45 | Tsvetana Paraskova

Oil prices erased losses and jumped on Tuesday morning following the announcement from the U.S. Administration that it would make available 50 million barrels of oil from the Strategic Petroleum…

President Biden’s Nuclear Option Against OPEC+

Nov 22, 2021 at 16:58 | Irina Slav

It began amicably, with a request from President Biden to OPEC countries to consider boosting their crude oil production because U.S. retail fuel prices were rising fast. Things…

Americans Blame High Gas Prices For “Bad Economy”

Nov 22, 2021 at 12:24 | Charles Kennedy

Some 64 percent of respondents in a CBS News poll believe the U.S. economy is in bad shape. Of these, 74 percent are blaming the bad economy on high prices…

Goldman Sachs: Oil Price Plunge Is Not Justified By Fundamentals

Nov 22, 2021 at 09:01 | Tsvetana Paraskova

The recent oil price decline is not justified by fundamentals, Goldman Sachs says, keeping its estimate of Brent averaging $85 per barrel in Q4. The move lower in oil prices…

Oil Prices Tank On Renewed COVID Panic

Nov 19, 2021 at 08:52 | Tsvetana Paraskova

Oil prices plunged by 3% early on Friday as Europe contends with rising COVID cases and is returning lockdowns and other restrictions, which the market fears would weigh on economies…

Goldman: Concerted Release Of Petroleum Reserve Won’t Move Oil Prices Much

Nov 19, 2021 at 08:39 | Charles Kennedy

The oil market has already priced in the concerted release of crude oil from national reserves, Goldman Sachs has said, adding that the U.S. was expected to release between 20…

How A Biden SPR Release Will Send Oil Prices Even Higher In 2022

Nov 18, 2021 at 18:50 | ZeroHedge

Bloomberg is out with a surprisingly objective article ("surprising" because it goes against the very "green" ideology espoused by both the media company's billionaire owner and the Biden administration) titled…

Oil Dips As Consuming Nations Mull Strategic Reserve Releases

Nov 18, 2021 at 09:48 | Tsvetana Paraskova

Oil prices ignored a bullish EIA inventory report and dipped on Wednesday amid expectations that the U.S. could soon announce a release from its Strategic Petroleum Reserve (SPR) and other…

Aggressive Middle East Oil Price Hikes Hint At Strong Demand In Asia

Nov 17, 2021 at 12:50 | Gerald Jansen

Panic-driven market narratives can play a huge role in aggravating seemingly usual situations. Take, for instance, arguably the biggest story of the past weeks. Namely, that the US…

IEA Hikes 2022 Brent Oil Price Outlook To $79

Nov 16, 2021 at 11:04 | Tsvetana Paraskova

Brent Crude prices are expected to average $79.40 next year, according to the International Energy Agency, which raised its oil price assumptions for 2021 and 2022. This year, Brent…

Oil Set For Third Consecutive Week Of Losses

Nov 12, 2021 at 09:51 | Tsvetana Paraskova

Oil prices fell early on Friday and were headed for a third consecutive week of losses, as the U.S. dollar strengthened and the market continues to guess whether the Biden…

The Double Irony Of Biden's Plea To OPEC

Nov 10, 2021 at 10:25 | Robert Rapier

As I wrote in February of this year in The Inherent Risks In President Biden’s Energy Plan: “If we prematurely discourage investment in fossil fuels…

The Oil Price Rally Is Far From Over

Nov 09, 2021 at 11:57 | Irina Slav

How much higher could oil prices go? This is the question that the U.S., China, India, and other big consumers have come to dread as benchmarks continue to…

Biden Threatens OPEC+ With Undisclosed "Tools"

Nov 08, 2021 at 09:13 | Irina Slav

"There are other tools in the arsenal that we have to deal with other countries at an appropriate time," President Biden said this weekend, referring to OPEC+ and its refusal…

Citi: Oil Will Continue Rising This Quarter

Nov 05, 2021 at 09:56 | Irina Slav

Crude oil prices will continue rising this quarter as global oil inventories drawdowns continue and OPEC sticks to its limited addition output policy, Citi’s head of commodity research Ed Morse…

Oil Rally Reverses On Signs Of Cooling Demand

Nov 03, 2021 at 18:41 | Alex Kimani

After a nine-week winning streak, oil prices have gone into reverse gear as worrying signs of cooling demand have begun to appear. WTI climbed 11% and Brent rose 7.5% in…

Oil Prices Slide On Fears Of Tighter Fed Policy

Nov 03, 2021 at 09:15 | Tsvetana Paraskova

Oil prices fell by 2% early on Wednesday as the market frets about the potential tapering of the Fed's asset purchases that could slow growth and reduce appetite for riskier…

Why Oil Prices Will Rise In The Short Term

Nov 01, 2021 at 13:59 | Tsvetana Paraskova

The rally in crude oil and other energy prices has sent U.S. gasoline prices to a seven-year high and raised inflation in all major economies. Economists and analysts…

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