eia crude price

A mixture of supply/demand fundamentals and economic indicators are pushing down prices for global benchmark crude grade Brent. The EIA concisely describes current global crude oil market dynamics in its Today in Energy brief. [EIA]

Oil market observers are buzzing with theories seeking to explain why Saudi Arabia cut official selling prices for its crude while essentially maintaining overall production volumes. Is this an Opec price war? Use of the oil weapon, or is something else going on? [Financial Times]

The European Union has been working to liberalize cross-border energy trade for several years and it now appears the conflict with Russia over Ukraine is compelling Europe’s leadership to pursue their energy policy goals on a more aggressive timeline. [CleanTechnica]