While oil markets remain incredibly tight, it is natural gas markets that are making headlines in energy markets this week. Russia is sending less natural gas to European countries and Northeast Asian nations are seeing power demand surge amid intense heatwaves. Chart of the Week – Russian pipeline gas supplies have dropped to their lowest … Read more
Earlier this month, Tesla made headlines yet again, but this time the news wasn’t good: the company was raising the price of most of its cars, with CEO Elon Musk citing raw material inflation as one of the reasons for the hike. Tesla is not the only one. The prices of copper, cobalt, lithium, aluminum—pretty … Read more
The Russian invasion of Ukraine sent oil prices to the highest levels since 2014, but prices were already heading higher before the invasion as producers and refiners were slow to meet the post-COVID jump in demand. Soaring energy prices and inflation are prompting central banks to tighten monetary policy and raise interest rates, which will … Read more
As US average gasoline prices hit $5 a gallon, the Biden Administration is scrambling to lower the highest fuel prices on record and the greatest inflation in 40 years. The Administration is considering all possible tools to affect a decline in gasoline prices, but all those tools would either do very little to reduce prices … Read more
Reader Update: Whether you are new to the oil and gas industry or an energy market veteran, you will regret not signing up for Global Energy Alert. Oilprice.com’s premium newsletter provides everything from geopolitical analysis to trading analysis, all for less than a cup of coffee per week. Chart of the Week – As national … Read more
The US national average for gasoline hit $5 per gallon last week, the highest ever. Brent crude is trading at $120 per barrel and is unlikely to subsidize much further as China comes back in full force. And according to the UAE’s Energy Minister, we haven’t even reached the peak—or anywhere near it. “I’ve never … Read more
Alaska has the potential to provide the US with more oil, but it all boils down to one question: what’s more important, energy security or the environment? This issue is currently being canvassed over by Biden’s administration and the Alaskan state government. As oil firms are committed to continuing major oil and gas operations in … Read more
Last week, Bloomberg reportedciting anonymous sources, that the Biden administration was looking into the possibility of restarting idled refineries in order to boost fuel production and tame prices. Meanwhile, operating refineries are running at utilization rates of over 90 percent, which, according to industry insiders, is an unsustainable rate. And come hurricane season, if there … Read more
These are rocky times for most investments. Tea S&P500 and Nasdaq have each fallen for seven consecutive weeks while the Dow Jones Industrial Average has fared even worse, dropping for eight weeks straight, the longest losing streak for the index since the Great Depression, in 1932. The S&P 500 is now down 13.9% in the … Read more
While Germany inks a $10-billion-plus energy deal with India, India is negotiating another crude oil deal with Russia. As energy alliances shift as a result of Russia’s war on Ukraine, India is cutting deals on both sides of the divide. On Monday, Germany and India signed $10.5 trillion in bilateral agreements to boost green energy, … Read more
