Brent crude tops $113 per barrel at the start of the week. Crude prices have recovered to levels before the March 31st SPR release announcement. Libyan outages tipped the mood to slightly bullish early on […]
Oil prices slid Monday, accelerating two straight weeks of declines as lockdowns in China sparked demand fears. International benchmark Brent crude declined 3.8%, or $3.85, to trade at $98.91 per barrel. West Texas Intermediate crude futures, the U.S. […]
Oil prices inched higher on Monday as worries about tight supply persisted even as investors eyed the release of supplies from strategic reserves from consuming nations and a truce in Yemen sparked hopes that supply […]
(Bloomberg) — Oil extended its rally as the U.S. and U.K. said they plan to ban Russian oil imports while oil giant Shell Plc announced it will also halt purchases from the country. Brent crude […]
Crude oil’s rally continued unabated today even after the United States and several of its international allies said they may release oil from their reserves in response to the high prices. Reuters reported that the United States […]
U.S. shale drillers will be eager to boost production as oil prices near $100 per barrel, but a looming frac sand shortage may stop them. Combined with rising labor costs, a potential trucker shortage, and […]
Oil drillers set to increase U.S. production in the coming years face considerable headwinds from labor shortages in America’s most prolific shale patch, according to industry consultants Evercore ISI. The Permian Basin straddling Texas and […]
Source: U.S. Energy Information Administration, Short-Term Energy Outlook (STEO), February 2022 In our February 2022 Short-Term Energy Outlook (STEO), we forecast that crude oil prices will remain high enough to drive U.S. crude oil production […]
Oil prices surged in late-day trading Thursday, sending the U.S. crude benchmark through $90 a barrel for the first time since 2014 due to ongoing supply worries and as frigid weather cascades across the United […]
The world’s biggest independent oil trader said crude prices, already up more than 10% this year, could rise even more because of tight supplies. “These prices are justified,” Mike Muller, head of Asia for Vitol Group, […]
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