The price of a WTI barrel soared to heights not seen since November as the market braces for an OPEC+ decision on oil production levels in April and beyond. WTI was trading at $80.04 per barrel at […]
A year and a half after a renowned Harvard professor described the pandemic of 2020 as “the mother of all shocks” to energy markets, oil and gas prices are still being rocked by supply and […]
Crude oil prices today inched higher after the Energy Information Administration reported an inventory draw of 9.2 million barrels for the week to January 19. This compared with a draw of 2.5 million barrels for the previous week, whose […]
In our January Short-Term Energy Outlook (STEO), we expect average U.S. retail gasoline prices to decrease in 2024 because of increased inventories related to increased refinery capacity. In 2025, we expect slightly reduced gasoline consumption to further […]
Traders are purchasing call option spreads on Brent Crude, betting that oil prices will hit $110 per barrel by the end of March and April, with bets equivalent to around 30 million barrels. Current market […]
January 2, 2024 Data source: Bloomberg, L.P. Note: Spot prices are in nominal terms and are not adjusted for inflation. The price of Brent crude oil averaged $83 per barrel (b) in 2023, down from […]
Iran sends destroyer to waterway as US navy sinks Houthi boats Brent declined 10% last year, its first annual drop since 2020 Oil rose after Iran sent a warship to the Red Sea in response to […]
Daily Standup Weekly Top Stories A Shale Oil CEO’s Second Act: Going Green December 17, 2023 Stu Turley For almost a decade, Tony Sanchez III was the epitome of a shale-boom CEO—furiously drilling oil wells, piling on debt […]
Exxon Mobil is set to acquire Pioneer Natural Resources, which will increase its oil and gas sales and make it the largest player in the Permian Basin. The oil market balance is expected to be […]
Nasdaq Goldman Sachs trimmed its price expectation for Brent crude in 2024 by $10 per barrel to between $70 and $90, saying strong production from the United States would moderate any upside in oil prices. […]
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