Is It Too Late To Invest In The Oil Price Rally?

Is It Too Late To Invest In The Oil Price Rally?

The oil market is currently going through one of the most turbulent periods since the infamous March 2020 collapse, as investors continue to grapple with recessionary fears. Oil prices have continued sliding in the wake of the central bank deciding to hike the interest rate by a record-high 75 basis points, with WTI futures for … Read more

Crude Prices Unmoved By Small Crude Build As Gasoline Inventories Drop

Crude Prices Unmoved By Small Crude Build As Gasoline Inventories Drop

Crude oil prices moved little today after the US Energy Information Administration reported a crude oil inventory build of 2 million barrels for the week to June 10. This compared with a build of 2 million barrels for the previous week. In fuels, the EIA estimated a mixed picture. Gasoline inventories, according to the EIA, … Read more

Are Oil Stocks Due For A Correction?

Are Oil Stocks Due For A Correction?

Crude oil prices have eased past $120/bbl to their highest levels in three months after Saudi Arabia raised the official selling price of its Arab light crude to Asia. Energy traders remain largely bullish that supplies will remain tight and continue supporting high oil prices given short-term supply outlooks. Citing tighter market balances, several analysts … Read more

Citi And Barclays Raise Oil Price Forecasts

Citi And Barclays Raise Oil Price Forecasts

By Julianne Geiger – Jun 06, 2022, 11:00 AM CDT Citi and Barclays raise oil price forecasts. Sanctions on Russia and Iran nuclear deal delays are primary reason for more bullish forecast. Citi’s second-quarter 2022 Brent forecast is now seen at $113 per barrel. Barclays now sees Brent prices averaging $111 this year and next. … Read more

Oil Jumps After EIA Confirms Large Crude Inventory Draw

Oil Jumps After EIA Confirms Large Crude Inventory Draw

Crude oil prices rose further after the Energy Information Administration reported today an inventory draw of 5.1 million barrels for the week to May 27. This compared with a draw of 1 million barrels for the previous week. At 414.7 million barrels, US crude oil inventories are some 15 percent below the five-year average for … Read more

Oil Prices Drop On Unexpected Crude Inventory Build

Oil Prices Drop On Unexpected Crude Inventory Build

Crude oil prices fell slightly today after the US Energy Information Administration estimated oil inventories had added 1.3 million barrels during the week to April 29. At 415.7 barrels, the EIA said, inventories were 15 percent below the five-year average for this time of the year. Last week’s build compared with a modest build of … Read more

Brent Crude Falls Below $100 On China Lockdown Fears

Brent Crude Falls Below 0 On China Lockdown Fears

Oil prices have fallen to a two-week low, dipping below $100 on fears of the further demand consequences of a COVID-19 lockdown in China that has sparked bearish sentiments in markets, despite a Russian oil decline and declining US inventories. Brent was at $99.89–down some 5%–on Monday at 11:50am EST, while WTI was trading at … Read more

IEA Reveals Details Of 182.7 Million Barrel Oil Stocks Release

IEA Reveals Details Of 182.7 Million Barrel Oil Stocks Release

Member countries of the International Energy Agency will be releasing a total of 182.7 million barrels of oil from emergency stocks over six months, of which 74 percent will come from public stocks and the remaining 26 percent from lowering of national stockholding obligations set on industry, the IEA said on Friday in an update … Read more

Oil Prices Slip On Huge Crude Inventory Build

Oil Prices Slip On Huge Crude Inventory Build

Crude oil prices moved lower today after the US Energy Information Administration reported that crude oil inventories had added 9.4 million barrels in the week to April 8. At 421.8 million barrels, oil inventories are about 13 percent below the five-year average for this time of the year. Last week’s build compared with an inventory … Read more

Tight Oil Markets Are Sending Fuel Margins Through The Roof

Tight Oil Markets Are Sending Fuel Margins Through The Roof

The oil price rally has really cooled down over the past two weeks, with oil prices declining to levels last seen prior to Russia’s invasion of Ukraine. Brent oil (CO1:COM) prices fell ~2% Thursday to trade below $100/b, while the price for a barrel of Brent for June 2022 delivery has fallen from $127/b one … Read more