Oil prices are down sharply today following headlines last night that the Biden administration is considering another, bigger release from the Strategic Petroleum Reserve. The administration is trying to get prices under control as we head into the summer months when demand typically rises by 1-2 million barrels per day. Whether or not supply can […]
Prices are up this morning following the continued bombing of Ukrainian cities, despite Russia’s pledge this week to pull back from the city of Kyiv and increase mutual trust between itself and Ukraine. Russia continues facing economic hardship due to strict sanctions imposed by NATO countries. Now, in an attempt to make business painful for […]
Putin should think about the consequences of asking for energy payments in rubles, Germany says Germany has some advice for Russian President Vladimir Putin: think about the consequences of asking for energy payments in rubles. Russia’s Putin said last week that “unfriendly” nations would be asked to pay for their natural gas in rubles — […]
Oil prices are down significantly this morning, reaching as low as $100.68. As Russian oil supply continues to be disrupted by sanctions, the effects are spreading, as evidenced by the Kazakhstan supply issues. Russia’s invasion of Ukraine set off a domino effect throughout the oil supply chain, and now those dominos are falling for producers […]
This morning crude prices are down dramatically over Chinese demand concerns as Shanghai initiates a lockdown to reverse the spread of COVID-19. WTI crude was as low as $106.57 and continued to fall slightly. This lockdown proves that COVID-19 is not over and that there is still a significant threat to oil markets. Shanghai, China’s […]
The Russia-Ukraine conflict is entering its second month, and global powers are gearing up for a prolonged conflict. NATO has approved plans to move troops to its eastern countries to deter Russian aggression on NATO territory. Along with increased military aid to Ukraine, the US committed to accepting 100,000 Ukrainian refugees. President Biden also hinted […]
Headlines this week included the European Union considering a Russian oil ban, possible gas price stimulus checks on the way for Americans, the potential for a global diesel shortage, and western leaders meeting over the Ukraine crisis. In an attempt to further isolate Russia from the world, President Biden and EU nation leaders met this […]
NATURAL GAS NEWS – March 25, 2022 U.S. LNG exports set a new record high 2021 U.S. exports of liquefied natural gas (LNG) set another record high in 2021, averaging 9.7 billion cubic feet per day (Bcf/d)—an increase of 3.2 Bcf/d (50%) compared with the prior year, according to recent data from the U.S. Energy […]
Today, oil prices are stable following an international summit of western leaders meeting on the Ukraine crisis to determine next steps. Three separate meetings of NATO, the EU, and the G7 revolved heavily around Russian sanctions, military aid, and additional pressure that could be applied. So far, markets aren’t perceiving much change for oil markets […]
Oil prices are rising on reported damage to the Caspian Pipeline Consortium (CPC), impacting Russian and Kazakh oil exports. Stormy weather in the Caspian Sea damaged the pipeline, which pumps out 1.2 million barrels per day (bpd) to the Black Sea for global distribution. Repairs are expected to take over a month. Approximately 85% of […]
