Biofuel
SHORT-TERM ENERGY OUTLOOK
Forecast overview U.S. economy. Our forecast assumes U.S. GDP growth of 1.5% in 2023 and 1.3% in 2024, which is revised up from last month’s forecast of 1.3% in 2023 and 1.0% in 2024. The upward […]
WTI
Zero Edge
WTI Extends Losses After Biden Admin Drains SPR For 12th Straight Week
Oil pries are tumbling back to earth today after some early week exuberance as a cavalcade of hawkish central bank action and FedSpeak As Bloomberg reports, de-stocking is the main reason why the physical crude […]
Crude Oil News
WTI Drops Below Pre-Saudi-Cut Levels After API Signals Big Product Builds
Oil prices dipped lower today, back to basically unchanged since Saudi’s production cuts were announced as persistent economic uncertainty weighs on the outlook for demand. Saudi Arabia’s production cuts “will take some supply off the […]
Crude Oil News
WTI Extends Losses After Biden Admin Drains SPR By Most Since December
Oil prices are lower this morning, after a quick trip higher on weaker-than-expected CPI (less Fed tightening). However, this ‘dovish’ dip in CPI was not enough to quell concerns about a recession and implicitly weak […]
Crude Oil News
Oil Set For Sixth Straight Monthly Loss
With earnings season in full swing, big players like Exxon, Halliburton and Baker Hughes have posted strong results despite lower crude prices in Q1. Friday, April 28, 2023 Oil prices have stabilized around $78 per […]
Crude Oil News
Oil Falls as Outlook Concerns Build
Oil fell amid widespread losses on Wall Street as lackluster earnings and diminished consumer confidence prompted broad selling. West Texas Intermediate fell over 2% to erase the previous session’s gains, swayed by broader market movement […]
Crude Oil News
Houston In Focus as Corpus Christi Lines Fill
Oil flows in Texas are shifting, with Houston set to attract increasing volumes of both US and Canadian crude over the near and medium term. Several factors are likely to incentivize shipments to Houston going […]
Crude Oil News
Oil’s Rout Gathers Pace as WTI Sinks Below $65 Amid Bank Crisis
Oil prices sank, with West Texas Intermediate plunging below $65 a barrel, as escalating investor concerns about a global banking crisis eroded appetite for risk assets including commodities. Global benchmark Brent also dropped below $71 […]
Crude Oil News
Pioneer CEO: Oil Could Reach $100 a Barrel by Q4
Pioneer Natural Resources CEO Scott Sheffield says oil could reach $100 a barrel by q4. He also says oil output in the Permian Basin will peak in five to six years. He speaks to Bloomberg’s […]
Crude Oil News
Forget Peak Oil Demand: A Thirst for Barrels Puts $100 in View
As Covid-19 lockdowns gripped the world in 2020, Bernard Looney, chief executive officer of BP Plc, made a startling admission: He thought that oil demand might never return to its pre-pandemic peak. But recently, Looney has […]