Oil Prices ///

U.S. natural gas sees record spike as February contracts expire

U.S. natural gas futures suddenly spiked the most on record Thursday afternoon, a dramatic move that signaled bearish wagers being squeezed out of the market.

Brent hits $90 for first time since 2014 on supply jitters

Brent oil surged above $90 for the first time in seven years as investor appetite for risk assets returned and the market fretted over Russia-Ukraine tensions.

Oil markets run out of sellers in race to $90 per barrel

Whether it’s speculators, traders hedging their barrels in storage tanks or U.S. producers, some of the biggest drivers of bearish price movements have all retreated in recent months.

OPEC delegates expect to stick to plan for modest output hike

OPEC and its allies are expected by delegates to stick to their plan and ratify another modest production increase next week as they try to satisfy rebounding oil demand.

Four ways the Iranian nuclear talks could upend oil markets

The Iranian nuclear talks could hardly be more critical for oil traders. Crude prices have surged 10% this year to around $85 a barrel, with many analysts predicting it’s only a matter of time before they hit triple digits for the first time in eight years.

Oil and gas price rallies drive M&A activity to three-year high

Last year’s blistering rally in natural gas and oil prices pushed mergers and acquisitions in the sector to a three-year high with no slowdown in sight, according to consultant Rystad Energy AS.

Morgan Stanley sees Brent crude at $100 by Q3

The bank expects stockpiles to slide even lower by the end of the year, after falling substantially in 2021, according to a research note to clients. Spare supply capacity will shrink to 2 million barrels a day from the current 3.4 million.

UAE warns OPEC alone can’t solve global oil supply issues

OPEC and its allies are increasing oil production but can’t solve all the sector’s issues alone, the United Arab Emirates’ energy minister said.

Oil prices above $100 are more a matter of when, not if

Surging demand, fading omicron fears, and OPEC+’s inability to ramp up output have underpinned an eye-watering rally in oil prices.

Biden rattles his saber at oil producers as prices surge to 2014 high

“We continue to work with producer and consumer countries, and these steps have had real effects on prices and ultimately tools continue to remain on the table for us to address prices,” President Biden's National Security Council spokeswoman Emily Horne said in a statement on Tuesday.

Key jet fuel market metric surges as flight demand withstands Omicron

The jet fuel market is soaring in Europe as global air traffic withstands the impact of the omicron virus strain.

Brent North Sea crude trades near 2014 highs as oil demand grows

Brent oil traded near the highest intraday level since 2014 as the market tightened and concerns about the impact of omicron eased.

Russia denies responsibility for Europe’s winter energy crisis

Russia has nothing to do with the energy crisis in Europe, Deputy Prime Minister Alexander Novak said, rejecting allegations from the International Energy Agency that it’s holding back supplies and driving up prices of natural gas.

Vitol sees bullish oil price pattern continuing on tight global crude supply

The world’s biggest independent oil trader said crude prices, already up more than 10% this year, could rise even more because of tight supplies.

European gas prices lure U.S. LNG cargoes away from Asia

Higher natural gas prices and lower shipping rates are increasing the draw of U.S. liquefied natural gas cargoes to Europe over more traditional winter markets in Asia.

Markets for physical oil cargoes booms on upbeat Omicron projections

“The oil market is unbelievably resilient, and bulls are in full control,” said Tamas Varga, an analyst at PVM Oil Associates Ltd. “The physical crude market is way over the forward or futures contracts. It implies genuine prompt tightness.”

OPEC targeting oil prices below $100, Oman’s oil minister says

OPEC and its allies don’t want crude prices to climb to $100 a barrel, and are reviving production quickly enough to prevent global markets from “overheating,” Oman’s oil minister said.

Oil prices surge as Fed chief’s comments less hawkish than expected

Oil jumped by the most in month after Jerome Powell’s comments to the Senate Banking Committee appeared to be less hawkish than the Federal Reserve had recently telegraphed.

China buying hundreds of millions of barrels of sanctioned oil

China doubled down on imports of Iranian and Venezuelan crude in 2021, taking the most from the U.S.-sanctioned regimes in three years, as refiners brushed off the risk of penalties to scoop up cheap oil.

IEA says oil demand more resilient than expected in the face of Omicron

Global oil demand has proven stronger than expected as the latest coronavirus variant inflicts a softer hit to the economy than anticipated, the International Energy Agency said.

U.S. gasoline markets point to bad news for Biden this summer

The gasoline market is painting a picture of tight supplies this summer -- the last thing Joe Biden will want to see as he tries to contain high fuel prices.