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Breaking News:

SPR Tender Attracts Two Foreign Bidders

Oil Prices Rise After Six-Week Losing Streak

Oil Prices Rise After Six-Week Losing Streak

Crude oil has recorded six…

Energy / Oil Prices

Rising Demand Closes The Gap Between WTI And Brent Prices

Jun 18, 2021 at 10:21 | Tsvetana Paraskova

Rising oil demand in the United States and flat domestic production in recent months have boosted the price of the U.S. oil benchmark WTI Crude, which has significantly narrowed the…

Oil Prices Fall As The Fed Changes Its Tune

Jun 17, 2021 at 15:58 | Julianne Geiger

Oil prices sank on Thursday as the Fed’s hawkish comments sent the dollar higher. Crude oil is down more than 1% on Thursday afternoon, with WTI falling 1.32% at $71.20…

Energy Transition Fad Will Send Oil Sky High

Jun 16, 2021 at 13:50 | Irina Slav

Ironically, the wave of ESG investing in global energy markets may lead to much higher oil prices as a serious lack of capital expenditure on new fossil fuels…

Bullish Fundamentals Drive Oil Prices Higher

Jun 16, 2021 at 11:05 | Tsvetana Paraskova

Oil prices have rallied in recent days, as global demand continues to recover while OPEC+ keeps a tight rein on supply and speculators buy the oil complex, seeing few downside…

Solving Nigeria’s Gasoline Crisis

Jun 11, 2021 at 17:52 | Gerald Jansen

The world of Nigerian refining is an enigma shrouded in a mystery. Although the story of Nigeria’s refining has been a friction point for some years already, it…

A Scorching Hot Middle East Summer Could Send Oil Prices Soaring

Jun 10, 2021 at 15:44 | Irina Slav

Economies reopening after lockdowns and a consequent surge in travel have pushed crude oil prices to levels last seen years ago. Now, something else can push them even…

NNPC: Lack Of Investment Could Push Oil To $200

Jun 10, 2021 at 08:53 | Irina Slav

Crude oil prices could rise to $200 per barrel as international oil companies curb their investments in new exploration and production, the Nigerian National Oil Corporation said this week.…

EIA: Brent Oil To Average $68 In Q3 2021

Jun 09, 2021 at 13:07 | Tsvetana Paraskova

Brent Crude prices are expected to average $68 a barrel in the third quarter this year, the U.S. Energy Information Administration (EIA) said in its latest monthly outlook, raising…

WTI Price Breaks $70 For First Time Since 2018

Jun 07, 2021 at 07:52 | Irina Slav

West Texas Intermediate hit the highest since 2018 at the end of last week amid an increasingly favorable demand outlook. The U.S. benchmark topped $70 a barrel on Friday…

Oil Prices Poised For A Breakout As WTI Nears $70

Jun 04, 2021 at 09:01 | Tsvetana Paraskova

Oil prices were rising early on Friday and headed to a second consecutive week of gains after the U.S. signaled that there may not be an imminent announcement of an…

''We'll See $200 Oil": Russia & OPEC Ministers Blast IEA's Net Zero Plan

Jun 03, 2021 at 11:08 | ZeroHedge

After in recent months crude oil prices have clearly recovered from their COVID-19 slump on steadily increasing demand, Russian Deputy Prime Minister Alexander Novak addressed the much-anticipated decision-making at the…

Oil Rises On OPEC Optimism

Jun 02, 2021 at 09:02 | Irina Slav

Crude oil prices strengthened further this week after OPEC+ signaled its growing optimism about the balance between demand and supply, and confirmed that it planned to continue increasing production. Bloomberg…

Oil Tops $71 As OPEC+ Keeps Output Plans Unchanged

Jun 01, 2021 at 09:08 | Tsvetana Paraskova

Oil prices rallied ahead of and during the monthly meeting of OPEC+ early on Tuesday after the alliance’s Joint Ministerial Monitoring Committee (JMMC) signaled there would be no changes in…

New Iran Nuclear Deal May Completely Derail Oil Price Rally

May 31, 2021 at 18:08 | Simon Watkins

According to senior political and economic sources who work closely with the current Iranian government exclusively spoken to by OilPrice.com last week, the U.S. has agreed to a tentative removal…

Oil Prices Rise At The Start Of Driving Season

May 31, 2021 at 10:13 | Tsvetana Paraskova

Oil prices rose by 1 percent early on Monday, driven by expectations that recovering demand with summer travel and reopening economies will easily accommodate the gradual increase in OPEC+ production.…

A Rare Moment Of Stability For Oil Prices

May 25, 2021 at 11:01 | Irina Slav

Oil prices have generally been trending higher over the past few months as the demand outlook for the commodity improved amid mass vaccination efforts. This week, however, benchmarks have experienced…

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…

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