‘Bazooka’ of oil preventing Brent Crude price from hitting $200
A “bazooka” of oil from the US reserve, lockdowns in China and a “surprising durability” of production in Russia are preventing Brent Crude oil from hitting $200 a barrel.
Brent crude
Russia-driven crisis exposes UK’s energy madhouse
With gas prices now more than five times the cost of a barrel of North Sea benchmark Brent Blend, the outlook for energy across Europe including the UK, is shocking.
Oil suffers deep weekly loss as concerns over demand intensify
Oil headed for a punishing weekly loss on increasing evidence that a global economic slowdown is spurring demand destruction, with prices collapsing to the lowest level in six months as key time spreads contract.
Brent crude falls below $100 for first time since late April
Oil extended its drop below $100 a barrel as fears of a global slowdown outweighed continued supply disruptions and market tightness.
Oil opens week on front foot as products, dollar buttress gains
Oil climbed at the start of the week’s trading as investors weighed tight product markets including gasoline, and a weaker dollar.
Oil extends slump as Europe softens Russian sanction proposals
Oil extended its biggest drop in more than five weeks after the European Union softened its proposed sanctions on Russian crude exports and as economic growth concerns weighed on sentiment.
Oil fluctuates as traders assess China’s vow, unrest in Libya
Oil fluctuated as China vowed to repair the economic damage caused by a spate of lockdowns, and crude supplies from Libya were disrupted.
Oil gains as week opens on Libyan Disruption, Russia’s Warning
Oil climbed as supplies from Libya were interrupted and Russia warned of the potential for record prices if more nations ban its energy.
Oil snaps back after sliding on back of IEA reserve release plan
Oil rebounded after a steep slump that was triggered by prospects for further crude releases from strategic reserves, the outlook for tighter U.S. monetary policy and weaker demand in virus-hit China.
Boris Johnson wants ‘climate pass’ for gas industry to wean West off Russian supply
Boris Johnson wants a “climate change pass” for the gas industry to wean western countries off supplies from Russia.
Brent Crude oil price hits $117 as Russia invasion upends market
Oil soared to the highest price level since 2008 as buyers continued to shun crude from Russia following its invasion of Ukraine, while OPEC+ is doing its best to ignore the war started by one of its key members.
$100 oil may be coming within months, Chevron CEO says
$100 oil prices are possible in the next few months as geopolitical risks and “struggling” supply hit global crude markets, said the chief executive of Chevron.
The day-to-day market for physical oil cargoes is booming
The world’s physical oil market is running hot, offering a boost to bulls.
Oil fluctuates near $76 ahead of OPEC+ meeting on supply policy
Oil fluctuated before an OPEC+ meeting that’s expected to see the alliance agree to another output boost next month.
Oil holds near one-month high on signs US stockpiles falling
Oil held near a one-month high after industry data pointed to another drop in US crude inventories and traders bet the fast-spreading omicron virus variant would prove to be less severe than earlier waves.
Oil edges lower as investors weigh demand risk from omicron
Oil edged lower amid nervousness around the rapid spread of the omicron virus variant and strength in the dollar.
Decom North Sea readying for ‘upsurge’ in decommissioning campaigns
As strange as it may seem, the North Sea, in its current form anyway, is slowly but steadily entering its twilight years.
OPEC+ choice to drip-feed oil supply sends price to 7-year high
Oil steadied in Asian trading after rallying to the highest level since 2014 following a decision by OPEC+ to maintain its planned gradual increase of supply, despite the market facing an energy crunch.
Someone is betting that oil will soar to a record $200 a barrel
Could the energy crunch get so bad that oil prices hit $200 a barrel? One options trader thinks so.
Top petroeconomist tips Brent to continue surge after crude oil hits three year high
Brent oil has been tipped to continue its upward trajectory after the crude benchmark hit its highest level in around three years.
Brent oil soars above $80 as global energy crunch shakes markets
Brent oil roared above $80 a barrel, the latest milestone in a global energy crisis, on signs that demand is running ahead of supply and depleting inventories.
Oil climbs as US supplies slow to return after Ida’s battering
Oil climbed toward $70 a barrel after a run of three weekly gains as investors tracked the slow restoration of supplies in the Gulf of Mexico and the outlook for demand and inventories over the fourth quarter.
Oil tumbles to 11-week low as virus spread menaces outlook
Oil plunged to an 11-week low, extending losses after the worst week since October, as new waves of Covid-19 threatened fuel demand.
UK govt oil revenues fall 70% as price crash and decommissioning take effect
UK government revenues from oil and gas taxes have plummeted by more than 70% due to effects of the recent price crash and decommissioning repayments.
Oil sinks amid dollar strength with Iran nuclear deal looming
Oil slumped as a rising dollar pushed financial investors, who had piled into commodities to guard against inflation, toward the exits for other sectors.