FIRST QUARTER HIGHLIGHTS
(Bloomberg) – U.S. oil is already having a profound impact on the world’s most important oil benchmark, effectively setting the price just after its inclusion in the measure.
WTI Midland — produced in the West Texas shales …
Oil prices rose slightly in Asian morning trade on Friday, but were set for a third straight week of losses after markets witnessed dramatic drops on fears of a weakening U.S. economy and slowing Chinese demand.
Brent crude LCOc1…
LONDON -Oil prices sank to their lowest since late March on Tuesday on weak economic data from China, expectations of interest rate hikes by the U.S. Federal Reserve and European Central Bank (ECB) this week, and concerns about …
TOKYO – Oil prices fell on Monday as jitters over the prospect of the U.S. Federal Reserve raising interest rates, which could slow growth and hit fuel demand, and worries about weaker Chinese manufacturing data combined to erase earlier …
(Bloomberg) – Claudio Descalzi, Chief Executive Officer of Italian oil and gas giant Eni Spa, said he sees no significant jolts to the energy market this year.
“For this year, I don’t expect further big shocks …
WASHINGTON – When OPEC+ made a surprise decision earlier this month to cut oil production, President Joe Biden responded with the political equivalent of a shrug – a far cry from his declaration that there would be “consequences” for …
Oil prices retreated on Thursday after rising for two sessions, with investors still showing lingering concern over a possible U.S. recession and weaker oil demand.
U.S. West Texas Intermediate slid 14 cents, or 0.17%, to $83.09.
Brent …
Money managers boosted their net bullish bets on Brent Crude by the second-largest amount on record following the surprise announcement from major OPEC+ producers that they would remove more than 1 million barrels per day (bpd) from the …
Oil prices slightly rose on Wednesday as the market waited for U.S. inflation data later in the day that will likely influence the Federal Reserve’s policy on future interest rate hikes.
U.S. West Texas Intermediate rose 77 …
SINGAPORE – Oil prices rose on Tuesday on expectations that inventories in the U.S., the world’s biggest crude consumer, are expected to fall and on signs that demand in emerging markets remains healthy.
Crude futures likely received a boost …
(Bloomberg) — One oil exchange-traded fund saw its largest one-day outflow in more than three years, a possible sign that some investors remain concerned about the outlook after OPEC+ delivered an unexpected supply cut.
WisdomTree’s Brent Crude Oil …
Oil prices were roughly unchanged on Monday as investors weighed the prospect of tighter supplies from OPEC+ producers from May against concerns about weakening global growth that may dampen fuel demand.
U.S. West Texas Intermediate crude was at …
Oil was steady on Thursday but weak U.S. economic data raised concerns over a potential global recession and demand reduction, but benchmark prices were headed for a weekly advance after OPEC+ announced further output cuts and U.S. oil …
LONDON – Oil prices held broadly stable on Wednesday, as the market weighed worsening economic prospects against expectations of U.S. crude inventory declines and plans by OPEC+ producers to reduce output.
Brent crude futures inched down 15 cents, or …
Several OPEC+ members are set to tighten global production by an additional 1.16 million barrels per day until the end of the year, further burdening central bank efforts to curtail global inflation — but critically protecting the alliance’s broader …
(Bloomberg) – OPEC+ announced a surprise oil production cut of more than 1MMbpd, abandoning previous assurances that it would hold supply steady and posing a new risk for the global economy.
It’s a significant reduction for a market …
U.S. natural gas futures jumped about 5% to a one-week high on Friday on forecasts for more demand next week than previously expected with rising amounts of gas flowing to liquefied natural gas (LNG) export plants, but they remained …
Oil prices climbed in early Asian trade on Friday as sentiment was boosted by an expansion in factory activity in China, the world’s second-largest crude consumer, and as concerns grew about Middle Eastern supply.
U.S. West Texas Intermediate …
In 2022, U.S. crude oil exports averaged 3.6 MMbpd, a record high according to export data that has been collected since 1920. U.S. crude oil exports in 2022 were 22% (640,000 bpd) higher than in 2021. Increased U.S. …
Crude prices firmed on Tuesday, extending sharp gains from the previous session amid supply disruption risks from Iraqi Kurdistan and hopes that turmoil in banking is being contained.
Brent crude futures gained 17 cents, 0.22%, to $78.29 a barrel. …
SINGAPORE – Oil prices climbed in early trade on Monday as concerns over turmoil in the banking sector eased, while comments by Russian President Vladimir Putin over the weekend ratcheted up geopolitical tensions in Europe.
Brent crude futures LCOc1…
Oil prices extended losses on Friday on worries about a potential oversupply after U.S. Energy Secretary Jennifer Granholm said refilling the country’s Strategic Petroleum Reserve (SPR) may take several years.
U.S. West Texas Intermediate crude futures slipped $1.65, …
LNG freight rates for Atlantic Basin spot LNG cargoes slid to below $50,000 per day on Thursday, the lowest level in over seven months, as natural gas prices in Europe drop with peak winter demand behind us.
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(Bloomberg) – U.S. shale may lose as much as 20% of its activity over the next year if energy prices hold at current levels, according to one of the biggest private equity players in the industry.
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LONDON/DUBAI – OPEC+ is likely to stick to its deal on output cuts of 2 million barrels per day (bpd) until the end of the year, even after a banking crisis sent crude prices plunging, three delegates from the …
