Oil and Gas Prices
News
September 12, 2024
At the Asia Pacific Petroleum Conference in Singapore this week, traders were generally bearish, with many predicting oil prices could drop to $60 per barrel, despite Brent crude falling below $70, according to Rystad Energy.
News
August 16, 2024
Saudi Arabia is expected to put less money into the oil industry than initially predicted in its goal to invest $1 trillion in strategic sectors by the end of the decade.
News
August 15, 2024
The American Petroleum Institute (API) released a new poll conducted by Morning Consult that reveals strong support among swing state voters for policies that promote domestic oil and natural gas production, while limiting reliance on foreign energy sources.
News
July 29, 2024
European energy companies have been grappling with competing forces — the negative impact of low natural gas prices and falling refining margins due to weak fuel demand, against the positive effect of higher crude prices amid OPEC+ supply cuts. For Eni, the upside outweighed the downside.
News
July 29, 2024
The Biden administration wants more money to purchase oil as it seeks to expand its efforts to refill the depleted U.S. emergency cache.
News
May 16, 2024
Brazil President Luiz Inacio Lula da Silva will push the new head of Petrobras to speed the pace of investments into refineries and expand its natural gas supplies after ousting the state-run oil company’s chief executive officer, people familiar with his plans said.
News
May 03, 2024
Energy companies in the United States have reduced the number of operating oil and natural gas rigs for the second consecutive week, reaching the lowest count since January 2022, according to Baker Hughes' latest report.
News
May 02, 2024
Commissioner Christian denounced President Biden's actions as election year politics, asserting that the pause on LNG exports would neither reduce emissions nor benefit allies, instead making energy more expensive and less accessible.
News
April 16, 2024
Oil traders piled into more than 3 MMbbl worth of options contracts in a bet that prices would spike to $250 a bbl by June as geopolitical risks remain elevated.
News
April 14, 2024
Trading resumed at 6pm New York time on Sunday. The risk of a direct Iranian attack on Israel was already at least partly priced in — benchmark Brent crude, up 17% so far this year, passed $90 a bbl after the strike on Iran’s embassy.
News
April 08, 2024
Crude futures topped $90 a bbl last week for the first time since October as a combination of robust consumption, output disruptions and geopolitical risks pushed prices higher.
News
April 07, 2024
Brent crude rallied more than 2% to climb above $90 a barrel on Thursday after Israeli Prime Minister Benjamin Netanyahu vowed to retaliate to any attack from Iran, despite the United States urging Israel to protect civilians.
News
January 14, 2024
Cold weather can cause freeze-offs, a condition when equipment related to natural gas production or pipelines can malfunction, curbing supply. Rising spot gas prices can be an indicator that traders are worried about high demand and freeze-offs lowering supply.
News
January 12, 2024
Oil jumped as the U.S. and its allies launched airstrikes against Houthi rebels in Yemen, retaliating for attacks on ships in the Red Sea that have imperiled flows of fuel and goods through the vital waterway.
News
December 04, 2023
ExxonMobil Corp. CEO Darren Woods said the Texas energy giant is focusing on producing oil in Guyana as efficiently as possible to help the South American country in its border dispute with Venezuela.
News
November 27, 2023
With futures well down from September highs, widely watched timespreads for global benchmark Brent and U.S. counterpart West Texas Intermediate have softened, signaling ample supply, while U.S. stockpiles have jumped.
News
November 22, 2023
The decision by OPEC+ to move its meeting from the weekend to next week is likely to affect millions of barrels worth of oil options and potentially send prices swinging more widely.
News
November 20, 2023
Brazil’s state-controlled oil giant Petroleo Brasileiro SA will continue with its current price policy, making adjustments only when technical guidelines suggest the need for them.
News
November 15, 2023
The US will enforce oil sanctions against Iran amid the renewed conflict in the Middle East, a White House Energy adviser said Wednesday.
News
October 29, 2023
Crude was trading on Friday when Israel stepped up ground operations, and West Texas Intermediate surged as much as 3.2% to trade above $85 a bbl.
News
October 24, 2023
As inventories decline in the coming months, “the market will have to beg for more supply at some point,” the founder of Andurand Capital Management LLP said during a question-and-answer session at Saudi Arabia’s Future Investment Initiative in Riyadh.
