(Investing) – LONDON – The Strait of Hormuz’s closure and the resulting surge in global oil prices have handed financial windfalls to Iran, Oman and Saudi Arabia, while other states that lack alternative shipment routes have lost billions of dollars, a Reuters analysis found. Iran effectively shut the Strait – a route for about a fifth of global oil and LNG
(Investing) – HOUSTON- Global oil prices have not climbed enough to cause demand destruction, U.S. Energy Secretary Chris Wright said on Monday at the CERAWeek energy conference in Houston, Texas, even as markets continued to gyrate and global oil prices remained near $100 a barrel due to the U.S.-Israeli war on Iran. The world is enduring one of the worst energy
Source: Reuters NEW YORK (Reuters) – Oil prices fell more than 1% on Monday after comments from a U.S. official stymied hopes that a U.S.-China trade deal would be reached soon, prompting renewed concern that a slowing global economy would reduce demand for oil. Brent crude LCOc1 futures fell 89 cents, or 1.5%, to $58.53 a barrel by 10:35 a.m.
From Bloomberg Toshiba to pay ENN unit to take over its U.S. LNG business Toshiba soured on Freeport deal when energy prices crashed Buy high, sell low and guarantee a loss. It’s not exactly what Toshiba Corp. planned when it dipped its toes in liquefied natural gas trading. Yet that’s exactly how it turned out, as the Japanese industrial giant
EnerCom Analytics’ September Industry Trends Report Examines Oil Prices The current price of oil may feel low given the fading memories of $100 per barrel oil back in 2014. But in a longer term historical context, we are on the high end of the curve at today’s prices. EnerCom Analytics looked at historical monthly crude oil prices between 1974 and August 2016.
