Rebounding U.S. oil demand, a slow recovery of domestic production, and extreme weather-related events have drawn many barrels this year out of the key U.S. crude hub at Cushing, Oklahoma. Crude oil stocks at Cushing—the delivery hub for the WTI Crude futures contract—have more than halved since April 2020, when the market was fretting about […]
Read MoreImage by Nikola Johnny Mirkovic on Unsplash Natural gas prices have risen to seasonal record highs as global gas demand is expanding and supply is not able to keep up. Bullish fundamentals combined with weather-related events have acted as tailwinds to propel prices. The extreme supply tightness of the global gas market is now spilling […]
Read MoreLet’s imagine that a few years ago in early 2014 that Vladimir Putin had tossed a coin in a wishing well and asked for a more supportive market for Russian oil and gas, their chief source of foreign currency. A mere seven years ago, after the Russian invasion and takeover of Crimea, the country was […]
Read More(Bloomberg) — The global energy crisis is bleeding into the oil market. Brent crude surged as high as $85.10 a barrel on Friday, a price that would have seemed unthinkable just 18 months ago, when when Covid halted global mobility and trashed demand. An underlying recovery in consumption — driven by road-fuel, freight activity, and […]
Read MoreOil prices appear to have found much-needed support and holding above the psychologically important level of $80/barrel just days after a surprise crude build threatened to derail the bull camp. On Tuesday, the American Petroleum Institute (API) reported another week of large crude oil inventory build at 5.213 million barrels for the week ending October […]
Read More(Bloomberg) — The largest U.S. natural gas driller is using the global energy crisis to renew his call for more investment in domestic infrastructure such as pipelines, which he says will enable increased exports and ease shortages. U.S. gas drillers could increase supplies by about 20% if not for pipeline and export constraints, EQT Corp. […]
Read MorePrices of fossil fuels around the globe are surging, leading some commodity pros to refer to the current condition as an “energy crisis” that could have far-reaching implications for American consumers. It also carries implications for energy policy as the U.S. — and the rest of the world — attempts to wean itself off crude […]
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