Tag: oil markets

April 22, 2020

Sorry, Greta. Sorry, Extinction Rebellion. We haven’t seen the end of the fossil fuels industry yet. The dramatic slide in U.S. oil futures on Monday is over. Oil bears loved it. Oil haters celebrated “big oil’s” demise on Twitter (then […]

April 21, 2020

The date April 20, 2020 will forever be etched in oil trading history, for on that fateful Monday afternoon an expiring West Texas Intermediate contract for May initially slumped below $10, headed to zero, and at just past 2pm EDT […]

April 15, 2020

The headlines suggest a bold new era for the OPEC-plus cartel after members agreed to a historic supply cut deal of nearly 10 million barrels a day over the weekend to help offset colossal demand losses from the Covid-19 coronavirus. […]

April 8, 2020

Oil markets are facing their greatest moment of uncertainty in decades ahead of a virtual meeting of OPEC+ ⁠— the alliance of OPEC and non-OPEC producers ⁠— on Thursday, which was delayed from Monday over persistent disagreements and abrasiveness between […]

April 7, 2020

Exxon is slashing its 2020 capital spending plan as depressed oil prices hammer the energy sector, but CEO Darren Woods said that the company’s dividend is safe for the time being. “A lot of our shareholders are retail shareholders — […]

April 6, 2020

Recent commentaries have been quick to peg the unfolding coronavirus pandemic as the second, or perhaps third, ringing of oil’s death knell. To be sure, the lockdowns are destroying oil demand at an unprecedented scale. Yet trying times demand perspective. […]

March 31, 2020

Given the enormous funds currently being dedicated to support the economy during the COVID crisis, there has been a lot of talk of the need for ‘green’ stimulus, to ensure that economic recovery doesn’t tank the environment. Yet the fundamental […]

March 20, 2020

During his coronavirus Task Force press conference on Thursday, President Donald Trump said he was considering intervening in the situation with the global oil market “at the appropriate time”: “It’s very devastating to Russia because when you look at it, […]

January 10, 2020

Markets responded positively to President Donald Trump’s January 8 address in the wake of Iranian rocket attacks against Iraqi bases housing US troops, with traders interpreting his overtures for peace and cooperation with the Islamic Republic as a sign of […]

December 17, 2019

The price of the U.S. oil benchmark, WTI, hit nearly a 3-month high on Monday reaching $60.21 per barrel on news that China and the U.S. agreed to Phase One of a trade deal. For months, oil prices have hinged […]

September 10, 2019

A rise in U.S. shale oil output and lackluster global demand will create volatility for oil markets, according to Dan Yergin, IHS Markit’s vice chairman. “The pipeline bottlenecks are in the process of being resolved, so a lot more oil […]

August 9, 2019

A United Nations mandate on the shipping industry to remove up to 85% of the sulfur content from its fuel to cut 3% of global carbon dioxide emissions could throw the industry into massive disruption. Some analysts argue it could […]

July 12, 2019

The International Energy Agency (IEA) expects the return of an oversupplied oil market next year, despite the recent rollover of an OPEC-led pact designed to restrain any glut. The energy agency said the “main message” of its closely-watched report was […]

June 17, 2019

I have written about this topic before, but it deserves a review at this crucial point in time where the oil markets are concerned. Just half a year after they agreed to implement significant new cutbacks in their crude oil […]

May 2, 2019

Venezuela’s political and humanitarian crisis remains fluid with President Nicolas Maduro clinging to power amid protests led by opposition leader Juan Guaido. Street protests are expected to continue Thursday with Guaido telling thousands of supporters yesterday that “there’s no turning […]

February 4, 2019

The U.S. stock market, after plunging late in 2018, has largely recovered, yet thinking about the economy in coming months should include the possibility of a recession or at least significant economic slowing in the U.S. and the world more […]

January 24, 2019

Global oil markets are facing an uncertain year with slowing global growth driving less global demand for oil while the supply picture looks unclear with production cuts by OPEC and Russia potentially counteracted by the growth in U.S. shale oil […]

January 7, 2019

If you thought global oil markets were a rollercoaster ride in 2018, better buckle up. Last year was certainly chaotic with international benchmark Brent prices surging above $85 a barrel in October, only to plunge 40% in the final months […]

December 12, 2018

It’s been a very volatile year for oil prices. 2018 was marked with some of the highest prices that market has seen in almost four years, but also some of the largest single-day drops. Geopolitical concerns, financial moves and supply […]

November 16, 2018

How quickly things can change in oil markets. A month ago the industry was fixated on Iran sanctions, possible supply shortages and a lack of global spare production capacity — issues that drove benchmark Brent oil prices over $86 a […]