Oil prices fell more than $2 a barrel Monday, hitting a five-month low as worries over Greece and JPMorgan’s big loss spooked traders.
U.S. crude sank below $94 a barrel early Monday before recovering slightly. Keep reading →
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When gasoline prices began to spike earlier this year, the popular opinion was that oil prices would continue to climb into the peak summer travel season.
Although Iranian geopolitical risk could ease in the second quarter of 2012, the global oil market remains tight, with considerable risk to both the upside and downside, says international banking giant Barclays in its most recent quarterly Global Outlook.
If the news flow from Iran slows in the second quarter, the bank sees oil prices easing slightly lower, as the decreased threat of a supply disruption would calm traders. However, the tightness in the global oil system – spare production capacity is currently only about 2% of global demand – is likely to persist into the second half of the year, keeping upward pressure on prices. Keep reading →
Crude oil posted its sharpest fall since May on Monday as world stock markets plunged after an unprecedented downgrade of the US credit rating fueled fears of a double-dip recession in the world’s biggest economy.
For more news and information on the rapidly evolving energy industry, please sign up for the Breaking Energy newsletter. For the quickest updates, follow us on Twitter @AOLEnergy. Keep reading →
Top Recent Energy Industry Stories: 8/15/2023
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By Breaking EnergyOn Cellulosic Ethanol, Hope Still Outpacing Reality
By Energy Tomorrow Blog
As debates continue over the Renewable Fuel Standard (RFS) and its ethanol mandates, let’s remember that when the RFS was enacted more than a decade ago it was supposed to jumpstart a commercially viable cellulosic ethanol industry – ethanol made from the leaves, stems and other fibrous parts of a plant. This has not happened. Far… Keep reading →
From Bull To Bear: What To Make Of The Sell-Off In The Crude Oil Market?
By Ryan Dusek | Opportune LLP
In the last month, crude oil prices have retreated from four-high highs amid concerns of rising oil production worldwide and weakening demand from developing countries despite the U.S. re-imposing sanctions on Iran
New Saudi Statement On Khashoggi’s Killing: Policy Response
By Simon Henderson
Riyadh’s shifting, dubious storyline presents a dilemma for allies who want to reestablish good working relations with the world’s largest oil exporter. Earlier today, the Saudi Public Prosecutor’s Office released its latest statement on the murder of exiled journalist Jamal Khashoggi, announcing that eleven people have been charged in the incident and that five of them face… Keep reading →
Trade Policy Impacts On U.S. Energy Becoming Visible
By Energy Tomorrow Blog
In API’s latest Industry Outlook and Monthly Statistical Report, we have shifted from recognizing risks on the horizon to having a line of sight on some of them. The effects of trade disputes in particular have become tangible. Most notably, at the same time as the U.S. celebrated another new record for crude oil production of 10.8 million… Keep reading →
