Oil prices steady as Omicron caution lingers Oil prices were steady on Wednesday as fears of tight supply were offset by COVID-19 concerns after Singapore suspended quarantine-free travel and Australia renewed its vaccination push due to a surge in Omicron variant cases. U.S. West Texas Intermediate (WTI) crude futures were unchanged at $71.12 a barrel […]
Pretty soon, we may need more oil than we can produce The oil industry has always been a boom-and-bust business, and 2020 will go down as the biggest bust in the industry’s history thanks to the double whammy of the coronavirus pandemic and the spring price war between Saudi Arabia and Russia. Click here to […]
On Tuesday, WTI Crude was supported by the market’s growing confidence in OPEC+’s ability to bring the market into balance. Markets closed yesterday with gains near 2% after data showed an uptick in demand as more cars get back on the road. In early trading this morning, the market is giving back some of yesterday’s […]
Coming off a long weekend, oil is climbing to fresh highs this morning as positive sentiment endures. The market continues with the mantra “no news is good news” – another day without a major uptick in COVID-19 cases and no unexpectedly low economic data constitutes a win. The IEA’s Executive Director commented this weekend that low oil prices could drive demand […]
After significant bickering and drama last week, the OPEC+ group agreed on a historic production deal, cutting world output by 9.7 million barrels per day. But following a long holiday weekend, markets don’t seem too enthusiastic about the deal. Who Made the Cuts? As a reference, the OPEC+ group contains 10 members of OPEC as […]
Crude prices are relatively flat this morning. WTI Crude is trading at $58.22, a loss of one cent. Fuel is flat and mixed in early trading this morning. Diesel is trading at $1.9066, a loss of 0.4 cents. Gasoline is trading at $1.6580, a gain of 0.4 cents. President Trump and Chinese Vice Premier Liu […]
In light of the holidays, FUELSNews will resume normal publications on January 2. Happy Holidays and thank you for reading! After hitting multi-month highs last week, the oil rally fizzled out on Friday, with prices falling almost a dollar after gaining roughly $6/bbl since Dec 1. With holidays keeping trading volume low, any major long-term […]
Markets are cooling quickly this morning after a wild ride yesterday. Prices soared in yesterday’s early morning trading, but settled more than a dollar below the day’s highs. Today, markets are sinking, unable to garner strength to re-approach $60/bbl. Crude oil is currently trading at $57.50, down $1.59 from Monday’s close. Fuel prices are also […]
Natural Gas News – April 3, 2019 Natural Gas Pipeline In Germany Holds “Green” Methane; Austria Has Similar Plans ARS Technica reported: A Düsseldorf, Germany- based energy company called Uniper announced last week that it sent methane made from renewable hydrogen into the local natural gas pipeline. The methanation plant in Falkenhagen that made the […]
Natural Gas News – March 29, 2019 China To Cut City-Gate Natural Gas Prices And Pipeline Fees From April 1 S & P Global reported: uietly for much of the country, coal legend Pennsylvania has become the second most vital natural gas state. At over 18 Bcf/ d, Pennsylvania now yields over 20% of all […]
