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Energy / Oil Prices

Middle East Producers Cautious To Hike Oil Prices At Start Of 2023

Dec 26, 2022 at 13:20 | Gerald Jansen

Middle Eastern OSPs – December 2022 The oil markets have come full circle. In a year that saw the Russia-Ukraine war disrupt crude flows across the globe, oil…

$100 Oil To Return In 2023

Dec 21, 2022 at 10:22 | Alex Kimani

Eric Nuttall, partner and senior portfolio manager at Ninepoint Partners LP, has told the Financial Post that oil prices will return to $100 per barrel in 2023. According to…

Oil Prices Tank 3% As Contract Rollover Nears

Dec 16, 2022 at 08:46 | Tsvetana Paraskova

Oil prices slid by 3% early on Friday, erasing the gains from earlier this week, as the contracts are set for rollover and central banks say much needs to be…

What Iron Ore Prices Tell Us About Where Crude Oil Is Headed

Dec 14, 2022 at 15:37 | Alex Kimani

Historically, the prices of two of the world’s biggest commodities, crude oil and iron ore, are strongly correlated, which is hardly surprising given that they are the lifeblood…

High Oil Prices Are Fueling Economic Growth In The Middle East

Dec 06, 2022 at 09:20 | Oxford Business Group

In a year of global economic uncertainty fuelled by inflation, geopolitical crises and supply chain insecurity, the Middle East witnessed a second consecutive year of economic growth, with…

Why 2023 Is Likely To See Much Higher Oil Prices

Nov 30, 2022 at 12:45 | Alex Kimani

Earlier this week, oil prices plunged to 2022 lows as energy markets panicked about demand amid COVID chaos in China that has resulted in an unexpected and extraordinary…

No Deal On Russian Oil Price Cap As Deadline Looms

Nov 29, 2022 at 06:55 | Irina Slav

The European Union has failed to agree on the price cap for Russian oil proposed by the G7 as Poland refused to accept the suggested price level, which…

Middle East Oil Producers Under Pressure To Cut Prices Again

Nov 28, 2022 at 08:48 | Gerald Jansen

The Middle East has been steadily reaping the benefits of its oil bounty throughout 2022, arguably one of the most successful years for the region at large in…

Goldman Sachs Slashes Oil Price Forecast By $10

Nov 21, 2022 at 07:38 | Irina Slav

Goldman Sachs has cut its oil price forecast by $10 to $100 per barrel, citing lockdowns in China that would dampen demand for the commodity. The…

WTI Drops To $80 As Bearish Momentum Grows

Nov 18, 2022 at 07:57 | Editorial Dept

U.S. West Texas Intermediate crude oil traded lower on Thursday as the U.S. Dollar soared on hawkish comments from a widely followed Federal Reserve member. Prices were already trading lower…

Oil Falls More Than 4% As Traders Ditch The China Reopening Play

Nov 17, 2022 at 11:46 | Julianne Geiger

Oil prices plummeted on Thursday on a series of bearish market forces, led by thin liquidity and easing geopolitical tensions between Russia and the West when it became clear that…

Fitch: This Is The Biggest Downward Risk For Oil Markets In 2023

Nov 17, 2022 at 08:44 | Charles Kennedy

Short-term oil price forecasts have been persistently bullish this year, with most forecasters expecting benchmarks to top $100 sometime next year. Over the longer term, however, things change.…

Oil Prices Fall As Druzbha Pipeline Resumes Flows

Nov 16, 2022 at 11:11 | Alex Kimani

Oil prices have been falling in Wednesday’s session after oil flows on the Druzhba pipeline from Russia to Eastern Europe resumed after having…

Oil Prices Rise After Stray Rockets Land In Poland, Killing Two

Nov 15, 2022 at 13:13 | Julianne Geiger

Poland is holding an emergency meeting of the National Security Committee after a report surfaced that a suspected missile has struck a village in Poland, killing two. Tensions were heightened…

How The Price Cap On Russian Oil Could Cripple India’s Crude Imports

Nov 15, 2022 at 07:48 | ZeroHedge

India would be one of the countries most exposed if Russia refuses to sell crude oil at the capped price under proposed sanctions to be imposed by the United States…

Oil Prices Jump As U.S. Inflation Comes Below Expectations

Nov 10, 2022 at 08:07 | Julianne Geiger

Oil prices erased earlier losses and moved higher on Thursday just after the U.S. Bureau of Labor Statistics released data for October showing that inflation in the United States last…

Russia’s Shipping Crude Oil Like Mad Ahead Of Sanctions

Nov 07, 2022 at 11:17 | Julianne Geiger

Russia’s seaborne crude oil exports spiked to a five-month high last week as buyers scrambled to get their hands on as much cheap Russian crude oil as they could ahead…

WTI Crude Spikes Almost 5% On Fears Of Tight Supply

Nov 04, 2022 at 10:06 | Julianne Geiger

Crude oil prices were on the rise early on Friday morning on continuing fears that the oil markets remain tight with the G7 agreeing on a fixed price capping mechanism…

U.S. Refineries Profit From Cheap Sour Crude

Nov 03, 2022 at 10:06 | Tsvetana Paraskova

Despite a decline in refining margins in recent months, the biggest American refiners continue to post bumper profits, helped by cheaper sour crude grades and lower costs for…

Oil Shortage Forecasts Clash With Grim Economic Projections

Nov 01, 2022 at 15:17 | Irina Slav

For about two months now, signals from the oil market have pushed traders from one extreme to another, as headwinds clash with tailwinds, with the global economic slowdown…

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