On Monday, oil prices rose from seven-week lows. However, they remained under pressure after Japan announced it was considering releasing oil stockpiles and the COVID-19 situation in Europe worsened, heightening fears about excess and poor demand. As of 0725 GMT, Brent oil prices were down 26 cents, or 0.3 percent, to $78.63 a barrel, while …
Release of reserves oil pressures the current oil prices Read More »
Many sanctions were imposed on Iran and its export of oil during the Trump administration. Later on, Mike Pompeo, then US Secretary of State canceled the waivers. This was an attempt to increase the pressure on Iran and drive oil exports to near zero. While the sanctions on Iranian oil were strong and clear, in …
After years of sections, Iran is talking oil exports Read More »
The oil prices have settled near $85 per barrel on Tuesday. This price is close to a multi-year high. It is mainly supported by signals from OPEC and its allies, that the supply is falling short. However, the US inventories are still expected to be on a rise. The production of OPEC’s oil increased in …
The ongoing oil sell-off in Asia yesterday met a brick wall and dramatically reversed when Europe entered office. Oil received a little shove from a lower US dollar in the New York session, with both Brent crude and WTI recording tiny gains for the day. Brent crude finished 0.40 percent higher at USD 84.50 per …
Goldman Sachs predicts that oil prices could reach $100 a barrel by the end of the year. Many consumers are afraid of the costs of further inflationary pressures that have arisen in the commodity landscape this year. Global oil supplies are showing signs of danger as the winter season approaches. Summarizing the Reuters inventory dilemma, …
Goldman Sachs – Oil Prices Could Reach $100 a Barrel Read More »
Mohammad Sanusi Barkindo, Secretary-General of the Organization of Petroleum Exporting Countries, cautioned Tuesday that a lack of gas supply could deteriorate due to a lack of investment in the industry. He emphasized that the tightness we see in the gas market may grow more pronounced in the future. Especially because of given current efforts to …
Even though oil prices have recently reached their highest levels in several years, they still can soar further this winter. Analysts believe that the short-term market fundamentals support this view. As stocks deplete, inventories worldwide have plummeted to below the pre-pandemic five-year average, with demand rising back despite a poorer supply response from manufacturers. The energy …
After a four-day rise, oil prices remained above $80 per barrel as traders assessed the implications of a global energy crisis on-demand and industrial output. West Texas Intermediate fell a tad after reaching its best close since October 2014. According to the IEA’s flagship report, the world is failing to invest in energy on the …
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