Tag: crude oil

May 8, 2020

It is said that Asia’s voracious appetite for crude oil in general, and China’s in particular, fuels much of the global demand that’s been so badly stunted by the spread of the global coronavirus or Covid-19 pandemic. However, there are […]

April 15, 2020

Crude Oil futures just broke below their March 2020 lows and are plunging even after President Trump brokered a deal for OPEC to cut production. There’s a growing consensus that oil prices will be trading in the low single digits […]

March 18, 2020

With the threat of a worldwide pandemic, the Trump administration would be advised to quickly ease trade tensions with China. The coronavirus is disrupting global supply chains — a phenomenon that will likely continue for several months. China has promised […]

February 24, 2020

Oil slid more than 4% on Monday, falling into bear market territory as the number of coronavirus cases outside of China surged, worrying investors that a subsequent slowdown in the global economy could dent the demand for crude. U.S. West […]

November 26, 2019

Hundreds of thousands of protesters have filled the streets of Colombia this week, proclaiming their desire to upend the way things are done. Could unrest impact Colombia’s economic relationship with the U.S.? Crude oil is Colombia’s biggest export. And despite […]

November 18, 2019

Based on preliminary data and model estimates, EIA (US Energy Information Agency) estimates that the United States exported 140,000 b/d more total crude oil and petroleum products in September than it imported; total exports exceeded imports by 550,000 b/d in […]

November 11, 2019

U.S. shale oil production has shown some signs of moderation in recent months and production growth could be slowing, but experts told CNBC at Abu Dhabi’s influential oil & gas summit that the U.S. shale revolution won’t be stopped any […]

September 17, 2019

I have been showing a potential breakout in Nymex crude oil for the last few weeks. The breakout for oil is on the daily and weekly charts, not at the gasoline pump. Last week the price per gallon for regular […]

September 16, 2019

Here are a dozen things everyone should know about the past weekend’s drone attacks on a major Saudi oil refinery, and the likely fallout from them: The Houthis, a rebel army aligned with Iran, claimed responsibility for the drone attacks […]

August 28, 2019

President Donald Trump said he was not willing to sacrifice the abundant fossil energy wealth of the U.S. on “dreams” such as renewable power. “We’re the No. 1 energy producer in the world,” Trump said Monday in France. “I’m not […]

August 12, 2019

Oil prices rose on Monday despite worries about a global economic slowdown and the ongoing U.S.-China trade war, which has reduced demand for commodities such as crude. International benchmark Brent crude futures were at $58.65 a barrel, up 10 cents […]

July 2, 2019

The success, or failure, of trade talks between the U.S. and China will be a decisive factor in the oil price outlook this year, despite OPEC’s decision to extend production cuts, oil market expert Amrita Sen told CNBC on Tuesday. […]

April 8, 2019

DUBAI — Oil won’t be returning to the peak levels it saw last year when global benchmark Brent crude hit $86 a barrel, Goldman Sachs’ top commodities analyst said Monday. “We’ve had a really bad fourth quarter, so the question […]

March 19, 2019

Several continuing trends pushed crude oil exports higher and imports lower and resulted in the Gulf Coast (defined as Petroleum Administration for Defense District, or PADD, 3) becoming a net crude oil exporter in the last two months of 2018. […]

February 15, 2019

Analysts say oil prices are approaching breakout levels, and the final day of trading this week will offer clues about whether crude futures can keep rallying. Brent crude on Friday topped $65 a barrel for the first time this year, […]

February 14, 2019

Officially, Venezuela has the world’s largest crude oil reserves with 303 billion barrels of proved reserves. In reality, a lot of this oil is extra-heavy crude oil, and may not be economical to produce at prevailing prices. Thus, some portion […]

October 31, 2018

Energy expert John Kilduff sees an unusual phenomenon affecting crude oil and beaten-down stocks. According to the Again Capital founding partner, oil and stocks have embarked on the closest trading relationship since early 2016 and during the financial crisis sell-off. […]

October 11, 2018

The question resurfaced this week as news of increased crude oil transportation by rail crossed the border from Canada. Oil and gas is moving around our country, around pristine wilderness, around our cities and towns. Oil is going to keep […]

August 30, 2018

The summer driving season will end much like it began, with American motorists paying the highest price at the gasoline pump in four years. Gas prices have barely budged this summer, with the national average for regular gasoline hovering around […]

August 6, 2018

U.S. sanctions on Iranian crude could soon push oil prices above $90 a barrel, one oil analyst told CNBC Monday, amid heightened energy market fears of a looming supply shock. “As we go more towards (the fourth quarter) … that’s […]