(BOE Report) – President Donald Trump has accused U.S. oil refiners of gouging Americans, called for a Justice Department investigation and urged companies to use their bumper earnings to bring down gasoline prices that spiked amid the ongoing conflict with Iran. On Tuesday, he is expected to host many of those companies at the White House to celebrate efforts to
(By Oil & Gas 360) – Global energy markets are entering a more coordinated phase of response as governments move from watching volatility to actively preparing for intervention. The Group of Seven has signaled it is ready to take “all necessary measures” to stabilize oil markets as the Iran conflict continues to disrupt supply and push prices higher. The message
(Oil Price) – Oil producers in the Arab Gulf have already lost at least $15.1 billion in oil and gas revenues since the start of the Middle East war, per estimates by commodities analytics firm Kpler cited by the Financial Times. The de facto closure of the Strait of Hormuz has choked off since March 1, millions of barrels per day of
(Investing) – The war between Iran and the United States could last far longer than policymakers anticipated, raising the likelihood of oil prices breaking past previous crisis peaks, according to RBC Capital. Helima Croft, RBC’s head of global commodity strategy, wrote that conversations in Washington have prompted the bank to revise its expectations for both the duration of the conflict
( Investing) – Oil prices jumped more than 3% on Thursday, extending a rally as the escalating U.S.-Israeli war with Iran disrupted supplies and shipping, driving some major producers in the Middle East to reduce output. Brent crude was up $2.92, or 3.59%, at $84.32 per barrel by 11:43 a.m. EST (1643GMT), a fifth session of gains. U.S. West Texas Intermediate crude rose $4.40,
