With COVID-19 still dominating the headlines, this time with vaccination news, it is easy to lose sight of other note worthy incidents that would typically make headlines surrounding the crude industry. According to the Wall Street Journal, Iranian oil tankers have been struck by the Israeli Army, which were headed towards Syria over the last […]
Read MoreU.S. Blacklists More Chinese Firms
As President Trump’s term comes to an end, the administration continues to tighten restrictions on Chinese companies as the U.S. Department of Commerce blacklisted CNOOC (China National Offshore Oil Corporation) on Thursday. CNOOC was blacklisted for helping China intimidate neighbors in the South China Sea which threatened U.S. national security. The Department of Commerce stated, […]
Read MoreA Future for Offshore Drilling
During the last quarter of 2020, everyone can agree that economically, we have seen better days. Especially in the energy industry, spending cuts, revised budgets, and slashed investments have played an impact. However, we are starting to see hope for offshore drilling stated by Rystad Energy, a global oil and gas analytics firm. Their analysts […]
Read MoreVaccine Concerns
Earlier this month both China and Russia reported that they have developed a Covid-19 vaccine that has been clouded by doubt throughout the world since Phase III testing had not been performed. The vaccines have been developed by CanSino Biologic from China and the Gamaleya Institute in Moscow and are a modification of adenovirus type […]
Read MoreU.S. and China Relations at a New Low?
United States and Chinese trade relations appear to have hit a new low after White House trade adviser Peter Navarro said that the trade deal was “over” on Fox News last night. Navarro later walked back his comments and said that his comments were taken out of context and, “was simply speaking to the lack […]
Read MoreWill the Oil Rally Lose its Luster?
As we near the end of May, we will put behind us one of the most bullish rallies for the WTI crude oil contract in history with crude jumping almost 75% this month alone. Of course, with WTI prices currently trading at $33.33/barrel, that’s not saying much, as it is widely perceived the breakeven price […]
Read MoreEffects on Liquefied Natural Gas (LNG)
As we enter the end of our winter season in the Northeast, the mild winter combined with global oversupply fears has caused liquefied natural gas (LNG) prices to plummet and the worst may not be over.
Read MoreOil Freefall Continues
On the morning of Monday, January 6, 2020, WTI crude oil was nearing $64/bbl. As of 10:31 a.m. EST on Thursday, February 27, 2020, WTI crude oil was trading at $46.36/bbl. The shocking effects of the coronavirus fear continue to decimate global markets, particularly oil markets. Fortune.com aptly points out that the coronavirus has done […]
Read MoreTanker Ship Parking Lot
The sharp decline in oil demand from China due to the coronavirus is causing oil cargoes to be stranded off the country’s coast and across Asia. Last week, OPEC lowered its forecast for global oil demand by nearly a quarter million barrels per day as the pandemic of the coronavirus has crippled fuel consumption in […]
Read MoreCoronavirus Disrupts Latin American Oil Going to China
China has seen a large decrease in the demand of gasoline and Jet fuel stemming from the deadly outbreak of the Coronavirus and the subsequent travel restrictions. Chinese refineries have been responsible for taking a third of all Latin American produced crude. Brazil is the largest exporter of crude into China and mainly supply the […]
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