Commodity Pricing

Source: Reuters

COLUMN-How high are oil prices really? Kemp

Nasdaq


How high are oil prices really and what signal are they currently sending to producers and consumers about the need for more output and lower fuel use?

The strength of a price signal depends on both the real level …

Source: World Oil

Oil prices reach seven-year high as OPEC keeps crude supply tight

World Oil


SINGAPORE (Bloomberg) –Oil rose to a new seven-year high after OPEC+ chose to keep supplies fairly tight even as the world grapples with an energy crunch.

Futures climbed above $78 a barrel in New York after surging 2.3% …

Source: Reuters

European natural gas prices hit new records as supply concerns grow

World Oil


(Bloomberg) –European natural gas and power soared to fresh records amid worsening fears over supply.

 

Global fuel shortages are resulting in surging energy prices, disrupting markets from the UK to China, as economies emerge from the pandemic. …

Source: CNBC

Oil analysts predict a prolonged rally as OPEC resists calls to ramp up supply

CNBC


LONDON — Oil prices climbed to multi-year highs shortly after a group of some of the world’s most powerful oil producers opted against a big supply boost.

Now energy analysts believe crude prices could be poised to rally toward …

Source: Reuters

Column-Hedge funds flock to oil as energy shortages worsen: Kemp

Reuters


LONDON – Rising oil prices and the spreading global shortage of coal, gas and electricity have drawn fresh buying interest from hedge funds and other money managers in oil-related derivatives contracts.

Portfolio managers purchased the equivalent of 42 million …

Source: Reuters

Fossil fuel demand shakes off pandemic in blow to climate fight

Reuters


LONDON – Demand for coal and natural gas has exceeded pre-COVID-19 highs with oil not far behind, dealing a setback to hopes the pandemic would spur a faster transition to clean energy from fossil fuels.

Global natural gas shortages, …

Source: CNBC

OPEC+ sticks to plan for gradual oil output hike, price roars higher

CNBC


OPEC+ agreed on Monday to stick to an existing pact to hike oil output by 400,000 barrels per day (bpd) in November, despite consumer calls for more crude and surging prices that threaten an economic recovery from the pandemic.…

Source: Reuters

EXCLUSIVE Commodity traders face big margin calls as gas prices soar

Nasdaq


LONDON – The world’s top commodity trading houses are being told by brokers and exchanges to deposit hundreds of millions of dollars in extra funds to cover their exposure to soaring gas prices, seven sources with direct knowledge of …

Source: Reuters

Oil prices may hit $100 this winter, spurring economic crisis, warns Bank of America

World Oil


SINGAPORE (Bloomberg) –The global energy crunch could help propel oil prices above $100 a barrel for the first time since 2014 and spur a global economic crisis, according to Bank of America.

Natural gas prices have already surged …

Source: Reuters

European gas prices hit all-time highs as Russian flows slump

Nasdaq


MOSCOW – European gas prices surged to all-time highs on Friday as Russia kept a tight lid on supply, signalling further price pressures on European consumers heading into the winter heating season.

Russian gas supplies via the Yamal-Europe pipeline …

Source: Reuters

Oil rises above $78 as OPEC+ meeting looms

Reuters


LONDON – Oil rose above $78 a barrel on Friday, within sight of this week’s three-year high, supported by tight supplies due to OPEC+ supply curbs, recovering demand and a weaker U.S. dollar.

The Organization of the Petroleum Exporting …

Source: World Oil

OPEC and major oil companies each see a different path to energy transition

World Oil


WASHINGTON (Bloomberg) – Two of Big Oil’s biggest players dropped their long-term energy outlooks this week: French energy company TotalEnergies and the Organization of the Petroleum Exporting Countries. They offer quite different visions of the world 25 years …

Source: Reuters

Column-Hurricane Ida’s lingering effects tighten global oil market: Kemp

Reuters


LONDON – Hurricane Ida’s extensive and unexpectedly lingering disruption to output in the Gulf of Mexico has been the single most important factor contributing to the surge in oil prices over the last month.

Damage to offshore installations has …

Source: Reuters

OPEC+ seen sticking to November output plans, despite $80 oil, sources say

Reuters


LONDON/MOSCOW (Reuters) – OPEC+ is likely to stick to an existing deal to add 400,000 barrels per day (bpd) to its output for November when it meets next week, sources said, despite oil hitting a three-year high above $80 …

Source: Reuters

Oil prices firm on OPEC’s go-it-slow approach to adding supply

Reuters


NEW YORK/LONDON -Oil prices rebounded from losses on Wednesday after U.S. crude inventories rose by more than anticipated, and as OPEC plans to maintain its deliberate approach to adding supply to the market despite strong worldwide demand.

U.S. crude …

Source: Reuters

Factbox: Pandemic brings forward predictions for peak oil demand

Reuters


The COVID-19 pandemic this year has dented oil consumption and brought forward forecasts by energy majors, producers and analysts for when the world’s demand for oil may peak.

 

Demand was about 100 million barrels per day (bpd) in …

Lack of investment, more demand to drive oil price volatility – industry execs

Lack of investment, more demand to drive oil price volatility – industry execs

Reuters


SINGAPORE – A lack of investment in new oil and gas supplies, amid a shift in focus to cleaner fuels, is likely to drive price volatility in the next decade as demand for traditional energy sources grows, senior industry …

September 28, 2021 - 12:48 pm Closing Bell Story‎, Commodity Pricing, Crude Oil News, Energy News
Source: CNBC

Brent oil jumps to nearly 3-year high above $80 before turning negative

CNBC


International oil benchmark Brent crude jumped during early trading on Tuesday morning, topping $80 per barrel for the first time since October 2018 before reversing those gains and dipping into negative territory. The breather comes after five straight positive …

Oil will climb to $90 by year-end: Goldman Sachs

Oil will climb to $90 by year-end: Goldman Sachs

Fox Business


Goldman Sachs Group Inc. raised its forecast for global crude oil prices to reach $90 per barrel by the end of this year, up from $80, due to supply disruptions in the Gulf of Mexico and signs of …

Source: Reuters

Column-Oil prices climb with little help from hedge funds: Kemp

Reuters


LONDON – Prolonged disruption to oil production in the Gulf of Mexico and multiplying signs of a worldwide energy shortage have not been enough to encourage significant new petroleum buying from portfolio investors.

Hedge funds and other money managers …

Source: Reuters

APPEC-Global oil demand seen reaching pre-pandemic levels by early 2022

Reuters


SINGAPORE – World gas demand is anticipated to achieve pre-pandemic ranges by early subsequent year because the financial system shrugs off pandemic woes, however spare refining capability is more likely to weigh on outlook, oil producers and merchants stated …

Source: Reuters

Oil heads for third week of gains as supply tightens

Reuters


LONDON  -Oil prices declined on Friday to $77 a barrel, holding near a three-year high as they headed for a third straight week of gains, supported by global output disruptions and inventory draws.

The rally was slightly dampened by …

Source: World Oil

Citigroup sees gas at $100/MMBtu, if winter is cold enough

World Oil


SINGAPORE (Bloomberg) –Citigroup Inc. more than doubled its Asian and European natural gas forecasts for next quarter and said prices could surge to as high as $100 per million British thermal units in the event of a particularly …

Source: Reuters

Oil prices at two-month highs on tight supplies

Reuters


LONDON – Oil prices rose on Thursday, supported by growing fuel demand and a draw in U.S. crude inventories as production remained hampered in the Gulf of Mexico after two hurricanes.

Brent crude was up 28 cents, or 0.4%, …

Source: Reuters

OPEC warns natural gas crisis may create oil market turbulence

World Oil


(Bloomberg) –As the global natural gas crunch hits suppliers and consumers alike, OPEC nations are warning of the knock-on impact for oil markets.

Iraq expects higher demand for crude as the shortfall of gas forces consumers to look …

Source: CNBC

Baker Hughes CEO lays out ‘hard truths’ behind the energy transition as gas prices surge

CNBC


The CEO of energy technology firm Baker Hughes has outlined what he feels are key points related to the energy transition amid deepening concern about rising gas prices and the knock-on effects this could have in the months ahead.…

Source: Reuters

Soaring gas prices ripple through heavy industry, supply chains

Reuters


LONDON  – Global record high natural gas prices are pushing some energy-intensive companies to curtail production in a trend that is adding to disruptions to global supply chains in some sectors such as food and could result in higher …

Source: Reuters

Oil prices rise on falling U.S. crude inventories

World Oil


(Bloomberg) –Oil rallied after a U.S. industry report showed another big draw in crude inventories, pointing to a tightening market, and China’s central bank added liquidity to quell concern about a major developer’s debt woes.

West Texas Intermediate …

Source: Reuters

Oil rallies on tight supplies in aftermath of U.S. storm

Reuters


LONDON – Oil prices rose on Tuesday as tighter U.S. supplies helped to reverse days of losses triggered by concerns across global markets about the impact on China’s economy of a crisis at heavily-indebted property group China Evergrande.

Brent …

September 21, 2021 - 11:00 am Closing Bell Story‎, Commodity Pricing, Crude Oil News, Energy News
Source: CNBC

British energy firms fear collapse as Europe’s gas crisis sees prices surge 250%

CNBC


LONDON — Britain’s energy industry could be headed for a significant shakeup, industry insiders have warned, as countries all over Europe grapple with an unprecedented crisis in the power sector.

Wholesale gas prices have spiked across the region, with