Data source: Bloomberg, L.P. Note: A front-month contract is a futures contract that is the closest to expiration. Benchmark Brent crude oil futures prices averaged $80 per barrel (b) in 2024, $2/b less than in 2023. Intraday prices stayed within a $24/b range, between $68/b and $93/b (after rounding), which was the narrowest trading range since 2019. […]
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Daily Standup Top Stories Chevron Targets $6-8 bln In Free Cash Flow Growth By 2026 January 8, 2025 Clark Savage Chevron Corp.(NYSE:CVX) is well positioned to grow its free cash flow by $6 billion to $8 billion by next year, and lower expenses by “a couple billion dollars,” Chevron CEO Michael Wirth announced on Wednesday. America’s second […] Salt […]
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Crude oil prices were flat on the day, after the U.S. Energy Information Administration reported an estimated inventory draw of 1 million barrels for the first week of 2025. The authority also estimated builds in fuel inventories but both gasoline and diesel stocks remain below the five-year average. The crude inventory draw compared with another modest of 1.2 million […]
Continue ReadingDaily Standup Top Stories German purchases of Russian uranium surge January 4, 2025 Clark Savage ENB Pub Note: I have been talking about Germany’s call for more Russian natural gas, which falls in line with the energy crisis in Germany due to the failed Green Energy policies. Not only did […] German MP calls for NordStream to […]
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ENB Pub Note: Michael and I will cover this report from Oilprice.com and other items for a New Year\’s Look into the Energy Markets on Monday\’s Podcast. Oil markets have started the year with a renewed sense of optimism, driven by stock draws in the U.S. and China\’s attempts to stimulate its economy. The gradual […]
Continue ReadingWeekly Daily Standup Top Stories Biden’s DoD Doubles Down On Climate Action As Trump Promises Military Reset December 14, 2024 Andy Del Prado The DoD’s focus on climate change over national security reflects Biden’s top policies. Trump pledges to refocus on defense priorities. Given the state of affairs in Ukraine and the Middle East and […]
Continue ReadingDaily Standup Top Stories In protest against LNG export permits, Climate Defiance blocks unused entrance to DOE garage December 16, 2024 Clark Savage The group didn’t provide any information on why they were blocking an unused entrance to the agency’s garage. Radical anti-fossil fuel activist group Climate Defiance on Thursday protested at Energy Department’s Washington, D.C., […]
Continue ReadingWeekly Daily Standup Top Stories EV Sales Slump: A Global Reality Check December 8, 2024 Clark Savage Global EV sales are slowing down due to high prices, concerns about charging infrastructure, and reduced government subsidies. Major automakers are scaling back production plans and announcing job cuts in response to the weaker demand. […] Revolutionary! Mercedes-Benz solar paint […]
Continue ReadingDaily Standup Top Stories Job One for Doug Burgum at Interior – David Blackmon December 11, 2024 Clark Savage Anticipating a potential Donald Trump win over first Joe Biden and then Kamala Harris in the presidential race, officials and bureaucrats have spent the last 12 months pushing out as many new regulations as they […] Oil Wobbles […]
Continue ReadingDaily Standup Top Stories 10 Can’t-Miss Election Predictions November 2, 2024 Clark Savage ENB Pub Note: This is an excellent article from Robert Bryce’s Substack. I am reaching out to him and will try to record a podcast post on this topic next week. I highly recommend subscribing […] Joe Biden and Kamala’s Iran Oil Sanctions Failure […]
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