Rising oil output in the US has already begun to alter the traditional price relationship between US and international crudes, and continued production growth could lead to a domestic glut of certain grades, adding to pressure to lift restrictions on crude exports. The stunning turnaround in the US’ oil fortunes has made plenty of headlines,… Keep reading →
The possibility of a rapprochement in nuclear talks between the US and Iran – though they did not produce a deal – had fueled a degree of oil market optimism about Iran’s reinstatement as a global oil supplier. But even if negotiations had proved successful, political and logistical hurdles would likely have stalled any significant return… Keep reading →
Four oil traders are claiming in a lawsuit that they can prove that BP, Statoil and Shell conspired with Morgan Stanley and trading firms such as Vitol to manipulate Brent crude prices. The traders say that the three oil companies placed orders to move markets, rather than buy crude. “Platts’ methodology ‘can be easily gamed… Keep reading →
By Rich Ilczyszyn This selloff is the real deal: Crude oil is getting zero help from a weaker dollar, as the market is in full liquidation mode, and is down another $1.50 on Wednesday morning. In early Wednesday trading, crude has dropped below $96.50, and has blown through most major support levels below $100 just this week. The next… Keep reading →
The U.S. ranks 5th out of 13 heavily oil-dependent countries that are highly vulnerable to global oil price fluctuations. On October 14, 2013, Securing America’s Future Energy and Roubini Global Economics released the Oil Security Index, which assesses the relative oil security of 13 countries including the U.S. The report emphasizes the need for active measures… Keep reading →
The exact circumstances surrounding the kidnapping – and subsequent release – of Libyan Prime Minister Ali Zeidan by an anti-crime unit in Tripoli last night aren’t totally clear. But as short-lived as the event proved to be, it had a big impact on oil markets. “The oil market was reminded overnight that the geopolitical risk… Keep reading →
Two of the oil industry’s more colorful chief executives – Total’s Christophe de Margerie and Eni’s Paolo Scaroni – provided some choice remarks on a range of energy-related topics yesterday at a Council on Foreign Relations event, The Future of Energy. They were joined by Michael Levi, director of the Council’s program on energy security… Keep reading →
A government shutdown that lasts only a few weeks should have limited impact on the operations of oil and gas companies, such as drilling, plant construction, and other ongoing operations. A longer-term shutdown could be more debilitating, delaying progress on regulatory requirements, such as new permits, or environmental impact studies. Short-term impacts could be much… Keep reading →
An examination of liquid biofuels published in Strategic Studies Quarterly, a peer-reviewed journal for security professionals, has concluded that they fail to provide meaningful benefits when pitted against petroleum products. “The United States cannot achieve energy security through biofuels, and even the attempt is ironically achieving effects contrary to ‘clean’ and ‘green’ environmental goals and… Keep reading →
Forget Syria, Here’s a Real Oil Market Supply Concern
By Jared AndersonIt made for great headlines, but the Syrian conflict never posed a serious risk to global oil supplies. Syria’s domestic production has dwindled and civil war ground exports down to virtually nothing last year. Escalating violence in Egypt, however, presents much more serious global oil market risk. Insurgents displeased with the ouster of Muslim Brotherhood… Keep reading →