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Brent Crude Nears $85 As Global Energy Crisis Worsens

Brent Crude Nears $85 As Global Energy Crisis Worsens

Oil prices extended Friday’s rally…

Refining Billionaire: $100 Oil Is Likely

Refining Billionaire: $100 Oil Is Likely

With oil prices rallying in…

Energy / Oil Prices

Goldman Sees $80 Oil This Year Despite Pending Iran Deal

May 24, 2021 at 10:07 | Charles Kennedy

Goldman Sachs still expects crude oil to rise to $80 per barrel by the end of the year despite reports about progress on U.S.- Iranian talks about the lifting of…

Oil Prices Fall As Iran Claims Sanctions Will Be Lifted

May 20, 2021 at 10:16 | Tsvetana Paraskova

Oil prices dropped again early on Thursday after Iran’s president said that the world powers had accepted during the latest round of talks that sanctions against Iran would be lifted.…

Oil Under Pressure Despite Positive Demand Outlook

May 19, 2021 at 16:07 | Irina Slav

Brent crude briefly hit $70 per barrel and West Texas Intermediate rose above $66 this week as improving economic outlooks for some of the world’s biggest economies boosted optimism. Although…

Inflation Fears Send Oil Plunging

May 19, 2021 at 11:34 | Tsvetana Paraskova

Oil prices dropped for a second consecutive day early on Wednesday as the markets were spooked by concerns about above-target inflation and participants showed risk aversion to commodities. As of…

Oil Rebounds After BBC Spooks Market With News On Nuclear Deal

May 18, 2021 at 12:06 | ZeroHedge

Update (1245ET): Well that didn't last long. After oil prices plunged on Iran nuclear deal optimism, they have surged back higher again now after Russian Envoy Ulyanov clarified his earlier remarks, noting…

India’s Faltering Oil Demand Sets The Tone For Middle East Producers

May 14, 2021 at 17:04 | Gerald Jansen

India’s COVID travails have become the main talking point when it comes to Asian crude demand, once again pushing out the timeline of things finally settling down. China…

Oil Prices Set For Biggest Daily Drop Since Early April

May 13, 2021 at 10:06 | Tsvetana Paraskova

Oil prices dropped by almost 3 percent on Thursday morning and were set for the biggest percentage drop since early April, after the restart of Colonial Pipeline eased some of…

Airlines Pull Back From Oil Hedging After Losing Billions

May 12, 2021 at 11:30 | Alex Kimani

Commodity price hedging is a popular trading strategy frequently used by oil and gas producers as well as heavy consumers of energy commodities such as airlines to protect themselves against…

Oil Prices On Track For Another Weekly Gain Despite India’s COVID Crisis

May 07, 2021 at 09:05 | Tsvetana Paraskova

Oil prices fell early on Friday, yet they were still headed for a second consecutive weekly gain, for a first such back-to-back weekly gain in nearly two months. Bullish demand…

Hedge Funds Bet On Higher Oil Prices

May 05, 2021 at 17:57 | Tsvetana Paraskova

Money managers intimate a growing confidence that oil prices have room to run higher this year, thanks to expectations of a robust economic rebound and rising global demand…

Saudis Set To Cut Oil Prices To Asia For First Time This Year

May 05, 2021 at 11:03 | Tsvetana Paraskova

Saudi Arabia is likely to reduce the price of its crude oil for Asia in June in what will be the Kingdom’s first price cut this year amid signs of…

Oil Close To Hitting $70 As The U.S. And Europe Reopen

May 05, 2021 at 09:06 | Tsvetana Paraskova

Brent oil prices were less than 50 cents away from hitting $70 per barrel early on Wednesday amid market optimism that reopening the United States and Europe would accelerate the…

Will Oil Hit $80 This Summer?

May 04, 2021 at 17:55 | Julianne Geiger

India, the world’s third-largest oil importer, is the latest coronavirus hotspot. It has recently hit a record-breaking number of new daily coronavirus cases—a statistic that dented oil demand and pressured…

Could Oil Prices Hit $80 Per Barrel?

May 03, 2021 at 15:03 | Yousef Alshammari

Despite the significant rally in oil over the past couple of weeks, demand uncertainty continues to affect prices. The outbreak of the second wave of a new Covid-19 strain in India…

Oil Turns Higher As EU Looks To Welcome Vaccinated Tourists

May 03, 2021 at 11:01 | Tsvetana Paraskova

Oil prices recouped earlier losses and were rising by more than 1 percent on Monday morning, after the European Union unveiled a plan to open its borders to vaccinated tourists,…

Oil Slips On Profit Taking, Stronger U.S. Dollar

Apr 30, 2021 at 10:02 | Tsvetana Paraskova

Oil prices dropped early on Friday as profit-taking and a strengthening U.S. dollar put a stop to this week’s rally that saw prices hitting a six-week high on Thursday. As…

Oil Prices Rally Towards $70 As Demand Outlook Improves

Apr 29, 2021 at 17:01 | Irina Slav

Crude oil prices got a major boost this week thanks to optimistic expectations about demand from OPEC+ and rebalancing fuel inventories in the United States. Brent jumped…

Middle East Oil Economies Desperately Need Higher Oil Prices

Apr 28, 2021 at 14:17 | Irina Slav

Big Oil is reporting strong first-quarter results thanks to higher prices, maybe making some shareholders think twice about the whole energy transition thing. But not everyone is happy. Despite the…

Why Nigerian Oil Prices Are Falling

Apr 28, 2021 at 13:59 | Viktor Katona

Although it is a very rare occurrence to see Nigerian grades trade at levels stipulated by the Nigerian National Petroleum Company (NNPC) every month, the issuance of its official selling…

Cautious Hedging Costs U.S. Drillers Billions

Apr 27, 2021 at 17:53 | Irina Slav

A month ago, ConocoPhillips warned it would book a $600-million impairment to its first-quarter profits from its acquisition of Concho Resources and, as Reuters reported at the time, related…

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