Today, West Texas Intermediate crude futures traded as high as $76.98, the highest price per barrel since November 2014. On Monday, news of OPEC+ not increasing oil production hit the news. OPEC+ cut production by nearly 10 million barrels a day, in April 2020 to support lower demand from the pandemic. OPEC+ has been meeting […]
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Delta is defined by Merriam-Webster as “an increment of a variable.” The Delta variant of Covid is (ironically) causing a massive number of variables through global economies. Oil prices today remain stable as Covid cases push Japan into an extended state of emergency, Asian demand remains weak, New Zealand implements a new lockdown after one […]
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On Tuesday, December 3rd, Trans Mountain pipeline expansion project began at Acheson, Alberta. The controversial expansion started two weeks before a federal court of appeal is set to hold hearings on challenges to the project. The expansion would more than double the oil flow from oil-rich Alberta to British Columbia, and potentially from there to […]
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Oil prices edged lower on Tuesday after a key U.S. manufacturing report dimmed the outlook on the manufacturing industry and invoked lingering fears of a global recession.
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Oil markets have been trading lower all day today even after yesterday’s sell off on continued fears of a global economic slowdown exasperated by the trade war and unrest in Hong Kong.
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Although prices are well off their highs, the complex trades higher today after OPEC+ looks to extend production cuts, the U.S. and Chinese declare a truce on the trade war, and Iran reported having higher levels of uranium than the 2015 signed nuclear deal allows.
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It has been a wild Monday for traders after President Trump tweeted yesterday that the United States will increase tariffs on $200 billion of Chinese imports, which, is casting doubt on the likelihood of a successful U.S. and Chinese trade deal.
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China and India have had considered on creating a “club” which will negotiate better prices with oil exporting countries and will be looking to import more U.S. crude oil in order to reduce OPEC’s sway. Two of the world’s largest oil importers, second and third respectfully, have exchanged senior level visits several times to discuss […]
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Oil prices are taking a breather today after Wednesday’s strong rally due in large part to the gasoline inventory draw and low production levels in Venezuela.
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