$100 Per Barrel?

The latest data from the Energy Information Administration (EIA) from January 14th showed a small crude inventory build of 500,000 barrels.  This has been coupled with a large increase of gasoline which added 5.9 million barrels.  Even with this inventory build, United States commercial petroleum stocks have declined most of the past eighteen months.  The […]

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How 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 […]

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Oil – Up, Up and Away?

As I mentioned in my Blue Skies Ahead for Crude Oil? – Guttman Energy blog post on December 22nd, WTI was trading around $71.80//barrel, above its $71.38/barrel moving average. If it settled above that level for a few days, we thought that the temporary lows were put in and we were on the way higher […]

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Schumer asks Biden to Tap into Oil Reserve

Oil prices went below $80 a barrel today, with speculation that President Biden could release oil from the U.S. Strategic Petroleum Reserves.  On Sunday, Senate Majority Leader, Charles Schumer asked the Biden administration to tap into the reserve before the holiday season.  “We’re here today because we need immediate relief at the gas pumps and the […]

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Pre-Pandemic Oil Output

Crude oil production has picked up again as we approach pre-pandemic levels. Refineries continue to see an increase in demand across Asia, Europe and the US. Unfortunately, natural gas prices simultaneously continue to increase leaving some concern for Q4 and how much it will affect supply.

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Fossil Fuels v. Renewables- The Truth, the Whole Truth, and Nothing but the Truth

In 2021, fossil fuels is a phrase that carries negative connotations. In the push for renewable energy, electric cars, ESG, and Green New Deals, the public has indulged themselves with feel-good initiatives, buzz words, and click-bait talking points without taking into consideration the real-world ramifications these plans have. There will always be a strong need […]

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Ida’s Destruction

The destruction caused by Hurricane Ida when it made landfall August 29 has led to the largest ever initial loss of crude oil production in the Gulf of Mexico.  Hurricane Ida has been responsible for the loss of 16.8 million barrels per day (bpd) of output in the near two weeks since the first production […]

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CRUDE SLIDES AMID DEMAND AND SUPPLY CONCERNS

China’s economic outlook and the Delta variant tanker were the most recent forces that led to crudes slip to open the month of August. Brent crude at writing was lower by 2.02% at $73.89/bbl while WTI slipped 2.31% and fell to $72.24/bbl. In mid-July OPEC+ met to discuss growing demand and supply increases. After some […]

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