Last week, Saudi Aramco surpassed Apple as the world’s most valuable company in the world. Aramco’s market valuation was just under $2.43 trillion when they surpassed Apple, which dropped 5% during trading last week and now has an evaluation of $2.37 trillion. Apple topped Aramco for title of world’s most valuable publicly traded company in […]
Read More
There is an endless supply of breaking news events that are impacting the oil market daily. China, India, OPEC, inflation, South America, and of course, the Russia/Ukraine war are all big item headlines that have gotten us to a market where both WTI and Brent have climbed above $114/BBL. Let’s explore some of these headlines […]
Read More
Most Americans have by now felt the impact of the ever-rising gas prices at the station. The national average is $4.305/gallon. With record-high levels in recent days, Americans are eager for relief. Given all the rhetoric surrounding gas prices, when can we expect to realistically see relief at the pump? Media is highlighting the Russian […]
Read More
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 […]
Read More
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 More
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 […]
Read More
With oil prices hitting 7-year highs just a month ago, world leaders including U.S. President Joe Biden are considering a strategic release of petroleum reserves as a reprieve to high prices and inflationary pressures. Does this really mean oil prices have topped?
Read More
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.
Read More
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 […]
Read More
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 […]
Read More
