Oil prices hit a high this morning of $105 a barrel for the first time since 2014. This comes after Russia launched their invasion against Ukraine by land, air, and sea in the biggest attack in Europe since World War Two. With Russia being one of the world’s largest energy producers, the prospect of war […]
Read MoreHow U.S. Oil Companies are Hedging for 2022
With growing oil demand still outweighing supply, the price of crude has officially reached eight-year highs. Last week, WTI broke the $85/barrel threshold, while Brent traded at $87/barrel. As major investment banks warn that crude may climb to $100/barrel, questions have been raised about how U.S. oil producers might be hedging the forward curve and […]
Read MoreBombs over Baghdad, The Big Chill (Texas Edition), and NEW YORK, NEW YORK!!
Sour Vs Sweet
A few days ago, the Maran Apollo, a 1,100-feet long oil tanker, left the U.S Gulf of Mexico for the Chinese port of Rizhao hauling a cargo of two million barrels of U.S. crude. Sitting for almost two months, the supertanker held demand-less crude during the coronavirus outbreak. This crude sitting on the tanker is […]
Read MoreCrude ‘Coaster Adrenaline
Much like some of the most daunting roller coasters in the world, crude oil has provided adrenaline building hill climbs, steep drops, twists, and turns. Historically, you will be hard pressed to find a more erratic fuel market than the one we have witnessed over the past few months. COVID-19 has sparked drastic demand destruction, […]
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 MoreIs the U.S. a Net Oil Exporter?
The United States has significantly ramped up oil production over the past decade, but just how far have they come? Depending on how you view oil production, the U.S. has just become a net oil exporter for the first time in 70 years. Bloomberg describes the U.S. as a net petroleum exporter, but Forbes is […]
Read MoreOil Output Falls in November
A recent survey conducted by Reuters found that OPEC oil output has dropped during the month of November from October by 110,000 barrels per day (bpd). The cause is from Angola Production fell due to maintenance, along with Saudi Arabia halted supply output before the initial public offering of state-owned Saudi Aramco.
Read MoreOil Complex Rises on Geopolitical Tension
Breaking the Price Surge
Today, oil prices dropped to $83 a barrel after the United States said it is actively considering waivers on the oil sanctions against Iran, potentially easing the current strain on supply and allowing Iranian oil exports to keep flowing.
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