OilPrice.com
@OilandEnergy
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https://t.co/kNhl04g5p6 offers extensive coverage of all energy sectors from crude oil and natural gas to solar energy and wind power. The #1 Source For Global Energy News
London
Joined November 2009
BREAKING: We have now launched our futures page. Your one-stop-shop for WTI, Brent, Natural Gas, Gasoline futures and news:.
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The U.S. just found a lithium goldmine—40M tons under the McDermitt Caldera. As global demand for lithium-ion batteries surges, the $2B Thacker Pass project could challenge China’s dominance and mark a shift toward domestic energy independence.
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JPMorgan top energy strategist:. "We won't see oil demand peak in our lifetime. That's because there is a huge hidden demand from emerging markets.". #OOTT #Cop28Dubai #oilandgas
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Exxon and OPEC are warning of a looming oil crisis. As global investments in new oil projects decline, the risk of severe supply shortages and skyrocketing prices becomes more real. Exxon predicts that without fresh investments, the world could face a 70 million barrel/day.
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Analysts are now beginning to doubt that Saudi Arabia even has the reserves it says it has.
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Record US air travel with Christmas expected. Oil tanker struck in Bab-el-Mandeb. Soft US dollar. And oil is down.
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So, those people got conned by a rich tech entrepreneur. Same sort of people who believe that Steve Jobs was radically changing their lives. no, he just wanted you to buy the newest iPhone every September.
"Tesla owners didn’t buy a car: We bought a set of beliefs Elon is trashing". OMG $TSLA . This Is So Spot On.
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No one ever proposes an oil company subsidy or negative windfall tax payment when energy company profitability is weak during an economic recession for example. Who wants to invest in a business in which you can keep large losses but are denied periodic big profits?.
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India's 🇮🇳 Oil Minister: “If we start buying more of the Middle Eastern oil, the oil price will not be at $75 or $76. It will be $150.”.
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“We aren’t getting this one right,” JP Morgan CEO Dimon defends the need for investment in fossil fuels to the U.S. Congress.
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Energy fund manager Eric Nutall: we may see the sharpest crude inventory draws in history in August. Inventories could fall by as much as 3 million bpd - "absolutely unseen". #OOTT #Oil #oilandgas.
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Isn't it ironic that proponents of the 'no-growth' model for the oil and gas industry are now claiming that oil and gas companies are not doing enough to pump more oil & gas?.
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Saudi Arabia's press agency: "the cuts can be extended or extended and deepened". Riyadh is punishing the shorts and is unwilling to risk another drop in oil prices.
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Now that's ballsy!.
We expect Brent crude #oilprices will return to above $80 per barrel this month and will average $82 per barrel in the fourth quarter of the year. #STEO. ▶️
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Goldman Sachs: We won't see demand destruction until U.S. gasoline prices average $6 ($160 WTI). #OOTT.
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A helpful tip for novice oil traders:.If Saudi Arabia cuts production then oil prices will either.1. Shoot up because there is now less supply on the market. 2. Fall dramatically because Saudi Arabia probably knows something you don't about demand. Is that clear?.
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Owners of electric vehicles are finally admitting that recharging away from home is a total "logistical nightmare," between finding charging stations, and the fact that in the best case scenarios it takes 30 to 40 minutes, and up to two hours, to recharge.
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#WTI crude futures fell below $80 after the EIA confirmed the largest draw in commercial crude inventories in the last 40 years. #OOTT #Oilandgas #dumbstruck
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Goldman Sachs says OPEC+ could push oil prices up to $107 📈.
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That's another $3 wiped out in under 2 hours. Saudi OSPs cuts to Asia were pretty much in line with expectations. #OOTT
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Perhaps he should admit that EU policies were part of the 'cost-of-living' crisis, and see what he can do to produce more hydrocarbons within the EU?.
The EU's climate chief urges energy firms to do more to ease a cost-of-living crisis that’s hurting some of the poorest consumers and undermining support for the green transition
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Shell plans to cut 15% of the 1,300 jobs in its Low Carbon Solutions business as it scales back some green energy ambitions and focuses on profitable projects including in the oil and gas sector.
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70% of Libyan oil production shut down and Brent is down more than 3% after Labor Day Weekend. #OOTT
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Energy illiterate.
Oil companies brought in $200 billion in profit last year. Yet the prices at the pump and on our utility bills remain high. “That, ladies and gentleman, is what we call the oil cartel.”
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WTI crude jumped 2.5% as Iran is said to be preparing a major retaliatory strike on Israel (from Iraqi territory). #OOTT
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US Henry Hub Natural Gas futures spiked to almost $4.20 per MMBtu on Monday morning as the US prepares for a major cold snap. #OOTT
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Despite tensions in the Middle East, the ongoing supply outage in Libya, and storm Francine in the Gulf of Mexico, Brent crude has fallen below $70 per barrel. #OOTT
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Crude oil is set to become the largest export item for the United States this year for the first time in history.
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Brent crude could hit an intra-quarter high of $100 per barrel in Q4 according to Standard Chartered.
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Oil prices are spiking (again) as reports suggest Israel's response against Iran will occur "soon". #OOTT
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According to @EnverusEnergy The steep drop in output from U.S. shale wells is turning out to be worse than expected. Production growth will be more difficult than it was in the past. #OOTT #Shale #oilandgas.
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If I owned a reserve of petroleum that had a certain strategic value, I'd probably be looking to fill it up right about now.
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WTI Jan-crude futures are now down 15% in one month. Headlines: crude falls on rising US inventories, China worries. Oil markets tend to overshoot/undershoot - prepare for a big turnaround rally in crude.
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WTI crude oil futures settle at -$37.63 per barrel - Down $55.90 on the day, some 305.97%. #OOTT #WTI #Crude #Oil #Coronavirus $USO.
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Strong global oil demand, particularly from China, coupled with reports of decreasing crude oil inventories worldwide, suggest that oil prices could reach $100 per barrel before year's end.
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Citadel's head of commodities Barrack: “We are on track to have an extremely tight global oil market,” “OPEC has definitely regained control.”
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#WTI crude oil hit $90 this morning while some Middle Eastern crude grades are approaching $100 per barrel.
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Oil is nosediving after a bearish EIA inventory report. Geopolitical risk alone is not enough to keep oil afloat. #OOTT
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Traders are purchasing call option spreads on Brent Crude, betting that oil prices will hit $110 per barrel by the end of March and April, with bets equivalent to around 30 million barrels.
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From Chevron's Q3 Conference Call: "I think what you'll see this year is probably going to be the peak in Permian CapEx". #OOTT.
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WTI crude is now approaching June lows. Sliding deeper into oversold territory. #OOTT #OPEC #oilandgas
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Global oil demand continues to defy expectations, hitting a record 103.79 mb/d in August and maintaining highs through September. Non-OPEC supply growth is slowing faster than demand. #OilDemand #EnergyMarkets.
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WTI crude nears $80 per barrel after a small hiccup following the publication of weekly crude inventory data. #OOTT
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Prepare for the next spike in crude prices - this Friday ain't over yet.
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Oil shoots higher as Biden is said to be discussing an Israeli strike on Iranian oil facilities: Bloomberg. #OOTT #IsraelIranWar
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"Hedge funds, who were heavily short on energy, are now scrambling to cover their positions, further fueling the rally." . Here's what happens if the largest net short positions in several oil contracts starts to unwind:. #OOTT.
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It’s becoming increasingly clear that Saudi Arabia is no longer interested in staying in Washington’s good books, and the OPEC+ cartel will do anything in its power to keep oil prices high.
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Brent crude rallies 3% at the start of the week amid a supply outage at Norway's giant Johan Sverdrup field. #OOTT #Oilprices #Oilandgas
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Standard Chartered on August crude oil demand: We assess demand at an all-time high of 103.79 million barrels per day (mb/d), an upwards surprise of about 450 thousand barrels per day (kb/d) above our (pre-JODI data release) forecast. "August is the third successive month in.
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Brent oil futures jump 3% on renewed fears of an Israeli strike on key energy infrastructure in Iran. Brent is just one buck away from $80 per barrel now. #OOTT
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It's been a while since 'demand worries' were the leading narrative.
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This time around, Saudi Oil Minister Prince Adbulaziz didn't warn the short sellers like he did back in 2020:. “We will never leave this market unattended. I want the guys in the trading floors to be as jumpy as possible. I’m going to make sure whoever gambles on this market will.
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WTI soars to $80, its highest level since August 2024, fueled by a lower inflation print, more robust demand forecasts, and sanctions on Russian oil. Brent topped $82. #OOTT
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“We have never consumed more oil in history than we have today”.
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America’s Shortage Of This Metal Keeps Trump Awake At Night. Trump’s first 100 days in office are crucial to reestablish the U.S. as a military superpower. But there’s one issue the Pentagon says must be tackled immediately and without delay. Full Story Here:.
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Oil hitting $100 per barrel is “entirely possible,” Bob McNally, President at Rapidan Energy .
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WTI front month futures are falling despite bullish EIA inventory data, and ongoing tensions in the Middle East. WTI is now down 7.2% over the last 30 days. #OOTT
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Front-month Henry Hub natural gas is up almost 10%. Bullish factors? . Unexpected supply outage at Norway's Sleipner field. Russia-Ukraine transit deal coming to an end and forecasts for cooler weather in the U.S. #OOTT
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Traders needed an excuse to take profits, and the U.S. debt downgrade was the catalyst. Macro sentiment once again trumps (bullish) fundamentals. When markets are done digesting this news, we'll see $90 Brent.
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Smead: Crude oil prices could be on track to hit $100 and even $120 per barrel.
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WTI futures plunge below $70, the lowest level since May 4th as debt ceiling talks continue to overshadow the bullish narrative of record air travel during Memorial Day. #OOTT #Oilandgas #Oilprices
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OPEC claims the world's oil industry will need $14 trillion worth of investment by 2045.
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American investors have been taken for a trillion-dollar ride by naked short sellers, in what could turn out to be the biggest financial regulatory scandal in North American history.
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Oil prices are still $104 higher than they were in April 2020. Perspective is important.
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Down on no real news, and back up again on no real news.
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WTI crude futures have fallen into the $73-handle as traders continue to sell in the absence of Israeli strikes on Iran. Note that Libyan production has increased to 1.13 million bpd. #OOTT #Oilprices #Libya #Israel
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🎶Oil markets know something you don't know, do da, do da🎶.
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Strange. WTI futures flipped back into backwardation, but I haven't seen a Bloomberg article on it. 🤔. #OOTT.
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Oil markets clearly forgot to have their morning coffee ☕️.
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Another sell off based purely on fear, not fundamentals. Wouldn't surprise me if we end the day in the green.
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Brent crude rises back to $75 per barrel following the large Fed rate cut:. #OOTT #Oilprices
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Front month WTI crude oil futures are now trading in the $65 handle. Hedge funds and other money managers have turned the most bearish on crude ever since the CFTC started to publish information on market positioning. #OOTT
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Wow. Impressive given the continued decline in rig count.
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A very volatile start of the week for oil. Amid bearish reports from investment banks, there's bullish news that China is buying cheap crude for its SPR @Sino_Market
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Crude oil inventories in the United States fell by a staggering 7.4 million barrels for the week ending August 30, according to The American Petroleum Institute (API). Analysts had expected a far smaller 900,000-barrel dip.
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