After world leaders such as Biden and French President Macron have called Putin and the Russians “war criminals” for their crimes in Ukraine, more sanctions are now on the way. Markets are reacting this morning by elevating slightly due to concerns that new United States and European sanctions will make supply even tighter, leading to […]
After pulling back heavily yesterday, oil prices are up slightly, with WTI crude hitting $98.59. With Russian and Ukrainian talks yesterday having no positive outcome, Russia seems to be under more pressure to end the invasion with a swift victory of Kyiv. However, the invasion has been anything but swift, and the sanctions imposed by […]
Russia and Ukraine looking for compromise in peace talks Russia and Ukraine both emphasised new-found scope for compromise on Wednesday as peace talks were set to resume three weeks into a Russian assault that has so far failed to topple the Ukrainian government. Ukraine’s President Volodymyr Zelenskiy said the talks were becoming “more realistic”, while […]
This morning oil prices are up as an imminent Russian invasion of Ukraine is becoming more likely. In the wake of tensions between Russia and NATO, President Biden and his administration have called for an in-person meeting with Putin to discuss diplomatic solutions to prevent war in Europe. Biden’s meeting is contingent on Russia not […]
Oil prices catapulted to new highs this morning before turning lower due to broader financial pressures and a rising US dollar. Last week, the world waited for an OPEC+ deal to increase production later this year – a deal that did not materialize. After three votes, the group cancelled its meeting for Monday, walking away […]
OPEC+ talks have stalled this week due to disagreements between member countries. Saudi Arabia and Russia agreed yesterday to increase production gradually by 2 MMbpd by the end of the year. The agreement would also extend the cuts, which are slated to end in April 2022, through the end of 2022. However, objections from the […]
Yesterday, oil prices eked out moderate gains, extending the streak of gains to four days. The US economy is on a hot-streak, and a strong jobs report maintained the upward momentum. While traders are primarily focused on the economy and vaccine rollouts, there’s also plenty of old school geopolitical risk to stoke concerns, too. Saudi […]
Crude closed down yesterday as OPEC+ met but could not agree on February production levels. The market is up in early trading this morning amid rising tension in the Strait of Hormuz after a South Korean tanker was seized by Iran on Monday. Middle East tensions are often a cause of rising crude prices, and […]
Crude closed higher yesterday and is continuing its gains in early trading this morning. News out of China of increased quotas for next year and OPEC+ chatter around continuing supply cuts into the first quarter are helping to lift markets this morning. China’s Ministry of Commerce announced a 20% increase in the quota for use […]
WTI crude and products are up somewhat this morning, trading sideways at times as markets consider a growing second wave of coronavirus cases around the world. The US has seen 30,000 to 35,000 new cases per day in September but is now back up to 50,000 daily new cases. These kinds of statistics are causing […]
