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Large Crude Inventory Build Rocks Oil Prices

Large Crude Inventory Build Rocks Oil Prices

Crude oil prices went lower…

Israel Claims to Have Dealt a Serious Blow to Hezbollah

Israel Claims to Have Dealt a Serious Blow to Hezbollah

Israeli authorities claimed to have…

Energy / Oil Prices

Why There’s Still Room For Oil To Go Higher

Dec 17, 2020 at 17:29 | Irina Slav

Crude oil prices are on the rise again after a short reversal of fortunes prompted by a huge crude oil inventory build reported by the U.S. EIA last…

Goldman Turns Bullish On Oil: Sees $65 Brent In 2021

Dec 15, 2020 at 08:46 | Irina Slav

Structural underinvestment in oil and gas will put upward pressure on oil prices, Goldman Sachs’ commodities chief Jeffrey Currie told CNBC this week, commenting on commodity markets. All markets…

Oil Prices Rise As U.S. Vaccinations Begin

Dec 14, 2020 at 08:44 | Tsvetana Paraskova

Oil prices rose early on Monday after the U.S. FDA approved the Pfizer-BioNTech vaccine for emergency use and shipments of batches of vaccine vials began this weekend, with first vaccinations…

Qatar Set To Significantly Boost Energy Investments In India

Dec 08, 2020 at 09:58 | Tsvetana Paraskova

Major energy importer India and one of the world’s top liquefied natural gas (LNG) exporters, Qatar, agreed on Tuesday to create a special task force to explore and facilitate Qatari…

Oil Prices Sink As OPEC+ Hype Wears Off

Dec 07, 2020 at 14:59 | Julianne Geiger

Oil prices sank over 1% on Monday, erasing the positive sentiment that the market boasted last week after OPEC+ agreed on a plan for January production. While…

The Worrying Truth About The New OPEC+ Agreement

Dec 04, 2020 at 16:25 | Cyril Widdershoven

OPEC+ has finally managed to reach a production cut agreement after several days of increased internal dissent. In its statement, the group reiterated a continued commitment to a…

Aramco CEO Sees Meaningful Oil Price Recovery In 2021

Dec 04, 2020 at 10:03 | Tsvetana Paraskova

Oil prices are set to see a meaningful recovery in the second half of next year as the worst for producers, and the market is behind us, Amin Nasser, the…

Oil Prices Inch Towards $50 On OPEC+ Agreement

Dec 04, 2020 at 09:03 | Tsvetana Paraskova

Oil prices rose early on Friday, headed for a fifth week of gains, after OPEC+ managed to seal a compromise deal over its oil production policy early next year, presenting…

Why An Air Travel Recovery Won’t Spark An Oil Rally

Dec 01, 2020 at 16:56 | Julianne Geiger

Oil demand isn’t going to see a bump from air travel demand anytime soon, or so the International Air Transport Association (IATA) said in a recent press release.  And when…

Why The Vaccine Oil Rally Won't Last

Nov 24, 2020 at 14:42 | Irina Slav

Oil is on the rise after a third company developing a vaccine for Covid-19 announced positive efficacy results this week. They may well continue to rise for a…

The Real Reason Oil Prices Went Negative In April

Nov 24, 2020 at 09:17 | Charles Kennedy

Unusually high open interest in West Texas Intermediate was one of the two causes for the benchmark plunging into negative territory in late April, according to a report…

Oil Prices Leap Higher On Fresh Vaccine Hopes

Nov 16, 2020 at 08:43 | Tsvetana Paraskova

Oil prices jumped by 4 percent early on Monday, bolstered by another potential vaccine breakthrough, as well as bullish economic data from China. As of 9:14 a.m. ET on Monday,…

An Oil Market Recovery Is On The Horizon

Nov 10, 2020 at 17:39 | Cyril Widdershoven

The major participants at ADIPEC 2020’s ADNOC Trading Forum expressed a wide range of sentiment, but the general message was one of caution or even outright pessimism when…

Vitol CEO: Oil Prices Could Hit $50 In Near Future

Nov 10, 2020 at 08:26 | Irina Slav

Oil may hit $50 over the next few months thanks to a moderate decline in global inventories that will accelerate by mid-2021, the chief executive of Vitol, Russell Hardy said…

Citibank Forecasts $49 WTI For 2021

Nov 09, 2020 at 12:47 | Tsvetana Paraskova

Citi revised down on Monday its outlook for the WTI Crude price for next year by $5 to $49 a barrel, citing the global spike in coronavirus cases that…

Oil Prices Surge 10% On COVID Vaccine Hope

Nov 09, 2020 at 09:03 | Tsvetana Paraskova

Oil prices soared by 10 percent and WTI Crude topped $40 a barrel on Monday morning, after vaccine developers announced 90-percent efficacy of a COVID-19 vaccine candidate, instilling hopes on…

This Could Become The World’s Most Expensive Crude Oil

Nov 06, 2020 at 17:48 | Matthew Smith

This year has been turbulent for global energy markets. The COVID-19 pandemic and March 2020 price crash sent markets into a tailspin, which saw the North American oil…

Oil Hasn't Been This Bearish Is Nearly A Century

Nov 05, 2020 at 14:45 | Alex Kimani

The energy sector has emerged as the worst-performing of the United States' 11 market sectors in the current year, dropping to its lowest point relative to the S&P…

Oil Prices Drop As Markets Await U.S. Election Result

Nov 05, 2020 at 11:02 | Tsvetana Paraskova

Oil prices dropped on Thursday morning as a highly contested presidential election continued to be too close to call as of 11 a.m. ET, although Democratic candidate Joe Biden was…

Saudi Arabia Cuts Oil Prices To Asian Market

Nov 05, 2020 at 09:15 | Tsvetana Paraskova

The world’s top oil exporter, Saudi Arabia, appears unconvinced that near-term demand has much room to grow as it reduced its official selling price for its flagship crude grade to…

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