(By Oil & Gas 360) – The oil market has spent the past several weeks trading optimism. Prices have retreated from their crisis highs as investors bet that diplomacy, ceasefire extensions, and negotiations between Washington and Tehran will eventually restore flows through the Strait of Hormuz. Yet a growing number of traders, analysts, and industry executives are warning that markets may
(Oil Price) – The Middle East crisis and the still closed Strait of Hormuz have created a “super-squeeze” in oil markets, which could lead to sharp price spikes, analysts at HSBC say. Prices have rallied in recent months not because of some “super-cycle” but because of the massive supply disruption and an actual squeeze in physical supply, the UK-based bank said
(BOE Report) – U.S. President Donald Trump’s military forays in Venezuela and Iran have weakened OPEC more than anyone thought possible just months ago. The White House may view this as a major win, but it may ultimately leave both the U.S. and energy markets worse off. For decades, the Organization of the Petroleum Exporting Countries, under its de facto
(Investing) – WASHINGTON – U.S. Treasury Secretary Scott Bessent said on Wednesday that crude oil markets are well supplied amid the U.S.-Israeli war in Iran, and that the U.S. plans to make a series of additional announcements on the issue. “The crude markets are very well supplied. There are hundreds of millions of barrels on the water away from the Gulf. But
(Investing)– Oil prices edged up on Thursday after falling in the previous session, boosted by a bigger than expected draw in U.S. crude stockpiles and a broader equities rally. Brent crude futures were up 43 cents, or 0.7%, at $63.94 a barrel by 1400 GMT. U.S. West Texas Intermediate crude futures gained 42 cents, or 0.7%, to $59.86. Both benchmarks rebounded
(Oil Price)– The prospect of a contango is casting a shadow over oil markets, with the entire 2026 WTI futures curve now trading below $60 per barrel—beneath breakeven levels for most new shale wells. TotalEnergies CEO Patrick Pouyanné and Vitol’s Russel Hardy warn that prices this low could cut U.S. shale output by 200,000 to 300,000 barrels per day next
(BOE Report) – Growing blind spots in the oil market driven by geopolitics are making it harder to determine the true supply-demand balance in the world’s largest and most important commodity market. That’s a recipe for volatility. Little is known about two of the major drivers of today’s global oil market: the flow of sanctioned oil and Chinese stockpiling. Add
Oil Price Wall Street analysts at Citi have predicted that a deficit in the oil markets driven by OPEC’s recent decision to delay tapering in oil production cuts as well as the ongoing suspension of Libyan oil exports will temporarily offer support for Brent prices in the $70-$75/barrel range in Q4 2024, as reported by Reuters. However, Citi has warned of “renewed price
World Oil (Bloomberg) – Oil will need to be closely watched in the coming months to ensure “a sound and sustainable market balance” during an expected surge in demand, OPEC said in its monthly oil market report. The producers group maintained its bullish forecasts for global oil demand growth this year, predicting an annual increase of as much as 2.7
Nasdaq NEW YORK – Concern about the global economy dampened the oil market’s reaction to Saudi Arabia’s pledge to cut supplies and has capped prices this year, a Chevron CVX.N executive told Reuters on Thursday. Benchmark Brent LCOc1 crude prices were just below $76 a barrel on Thursday, little changed from where they were before Saudi Arabia announced on Sunday it would cut
Nasdaq LONDON – Portfolio investors continued heavy buying of crude oil futures and options for a second week after OPEC+ cut its production target more than expected. Hedge funds and other money managers purchased the equivalent of 47 million barrels of petroleum-related futures and options in the week to Oct. 11. Purchases came after OPEC+ announced on Oct. 5
Nasdaq LONDON – OPEC+ sees this year’s oil market as slightly less supplied than previously thought, a day ahead of a meeting at which the producer group is set to decide on its production policy for next month. New data showed that the OPEC+ Joint Technical Committee (JTC), meeting on Tuesday, trimmed its forecast for a surplus in the
