Oil and Gas Prices
News
August 11, 2021
Futures tumbled 1.2% in New York Wednesday as CNBC reported that the White House contacted OPEC leader Saudi Arabia to help stabilize U.S. gasoline prices.
News
August 09, 2021
“Oil is seeing a continued loss of momentum, with sentiment taking a knock,” said Ole Hansen, head of commodities research at Saxo Bank A/S. “Most importantly, worries about the short-term demand outlook as governments respond to a surging delta variant” are weighing on the market.
News
August 06, 2021
While there are several one-off factors that have pushed gas prices higher, such as supply disruptions, the global economic rebound and a lull in new LNG export plants, there is a growing consensus that the world is facing a structural shift, driven by the energy transition.
News
August 06, 2021
Saudi Arabia’s move to push up the cost of its oil in Asia may backfire as an outbreak of the delta virus variant in China damps demand, while the U.S. and Russia offer more competitively priced alternatives.
News
August 05, 2021
Russia is supplying more oil to the U.S. than any other foreign producer aside from Canada as American refiners scour the globe for gasoline-rich feedstocks to feed surging motor-fuel demand.
News
August 05, 2021
Delta’s spread is challenging the global recovery, which had driven prices of commodities to multiyear highs late last month. The impact of the latest Chinese outbreaks can already be seen, with traffic thinning on some of the country’s typically busy city roads and raising concerns about near-term fuel demand.
News
August 04, 2021
China is renewing restrictions and canceling flights as a Covid-19 resurgence in Asia’s top oil consumer sends jitters across the crude market.
News
August 04, 2021
West Texas Intermediate futures tumbled 3.4% to close at the lowest in more than two weeks. The delta variant of Covid-19 has been detected in almost half of China’s 32 provinces in two weeks, and at least 46 cities have advised residents against non-essential travel.
News
August 03, 2021
“One of the negatives of this quarter has been some horrible hedging; guys locked in at $42 a barrel,” Paul Sankey, the veteran oil-industry analyst and founder of Sankey Research LLC.
News
August 03, 2021
Benchmark U.S. oil futures have advanced 45% this year and at that pace are on track for the biggest annual increase since 2016. In returning so much cash to shareholders, shale drillers are showing they will pass on gains from higher crude prices rather than use them to increase production.
News
August 02, 2021
The virus is clouding the outlook for consumption as China faces a fresh outbreak, Thailand expands its quasi-lockdown measures and infections in Sydney matched a record. Meanwhile, data indicated China’s economic activity eased in July and U.S. manufacturing data also showed some weakness.
News
July 30, 2021
Devon Energy and ConocoPhillips are among potential suitors studying Royal Dutch Shell's portfolio of Permian Basin oil fields, which could be worth as much as $10 billion in a sale, people familiar with the matter said. Chevron is also among companies considering bids for the assets, which are largely located in West Texas, the people said.
News
July 29, 2021
Europe’s largest oil and gas companies are showing confidence that the era of big profits is back by significantly boosting returns to shareholders.
News
July 23, 2021
Oil squeezed out its first weekly gain in three on signs that global demand is holding up despite concerns that the renewed spread of the virus could stall the recovery.
News
July 23, 2021
Natural gas futures soared to $4 per million British thermal units in the U.S. for the first time since December 2018 as summer heat intensified concerns about tight supplies later this year.
News
July 21, 2021
Oil jumped the most since mid-April amid broader market gains and after a U.S. government report showed declining fuel and distillate stockpiles during the high-demand summer driving season.
News
July 20, 2021
Despite volatility in global oil markets, U.S. crude oil exports reached a record high in 2020, maintaining momentum in 2021 with crude oil exports reaching 3.00 million barrels per day (bpd).
News
July 19, 2021
Futures in New York lost as much as 8.3% on Monday as OPEC and its allies pledge to increase oil production from August until all halted output is revived. A jump in virus cases from Asia to the U.S. drove down equities, with stocks in Europe hitting a seven-week low.
News
July 16, 2021
OPEC's deal will will ease a looming crude supply squeeze and reduce the risk of an inflationary oil price spike by increasing output each month beginning in August.
News
July 16, 2021
OPEC and its allies will meet on Sunday, the latest sign that a bitter standoff between Saudi Arabia and the United Arab Emirates has been resolved.
