Oil Prices ///

EIA expects crude to average $73/bbl during second half of 2018, fall to $69/bbl in 2019

In the July 2018 update of its Short–Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts that Brent crude oil prices will average $73/bbl in the second half of 2018 and $69/bbl in 2019.

Crude falls on supply increase, U.S. weighs SPR release

Crude retreated below $70/bbl as Saudi Arabia is said to offer extra crude to some customers, while the U.S. will consider tapping emergency supplies to offset losses elsewhere.

Saudis offer extra oil in Asia as OPEC leader pumps more

Evidence is mounting that Saudi Arabia is heeding U.S. President Donald Trump’s call for OPEC to keep the oil market amply supplied and rein in prices.

Oil set for weekly loss on trade war fears, Libya supply return

Oil headed for a weekly loss as escalating trade tensions between the U.S. and China rattled investors, while Libya’s plans to restore output allayed fears of a supply crunch.

Russia says OPEC+ could boost oil supply more than pledged

OPEC and its allies could boost oil production by more than the 1 MMbpd agreed last month if needed.

Oil celebrates 10th anniversary of record high with huge plunge

A decade ago, oil hit an all-time high in New York. What better way to celebrate than with a massive selloff?

Crude's bull run made this oil-sands producer Canada's top stock

For any investor who was looking to gain from rising oil prices, there may not have been a better way to play the recent bull run than MEG Energy Corp.

Oil pares losses after biggest U.S. crude stock draw since 2016

Crude pared losses after a government report showed the biggest decline in domestic crude inventories since September 2016, yet fears of an escalating trade war with China overshadowed the drop.

Oil patch has fastest-rising rent in U.S.

Want to rent an apartment near the biggest U.S. oil patch? It’ll cost you.

Trump’s OPEC tweets have Putin preparing for oil talks

When Russian President Putin meets Donald Trump next week, he’ll be armed to discuss oil production following the U.S. leader’s series of tweets targeting OPEC.

Oil falls as trade war escalates

Oil fell toward $73/bbl in New York after U.S. President Donald Trump escalated a trade war with China, heightening fears that global economic growth could be caught in the cross-fire.

U.S. oil could soon help set the Brent crude price

S&P Global Platts, the company that sets the key price of Brent crude, is contemplating the eventual incorporation of U.S. oil to help calculate one of its newest European benchmarks, a sign of just how much America’s booming exports are reshaping global energy trading.

Oil exploration expands in U.S. with crude reaching $75

Oil explorers deployed more rigs in the U.S. this week as crude prices breached $75/bbl for the first time since 2014.

There are fears about an oil spike above $150

Oil investors may regret urging companies to cough up cash now instead of investing in growth for later as the dearth of exploration is setting the stage for an unprecedented crude price spike, according to Sanford C. Bernstein & Co.

Tehran taunts Trump, telling him his tweets drive up oil prices

The Islamic Republic’s OPEC governor, Hossein Kazempour Ardebili, said tweets by Iran’s nemesis in the White House are backfiring, by sending prices higher, and undermining U.S. allies.

Oil slips after briefly breaching $75 for first time since 2014

Crude oil fell from its highest level in more than three years in New York on prospects for accelerating supply and as traders curbed bullish bets before tomorrow’s public holiday.

Saudis weigh lure of higher oil prices as U.S. asks for more

Saudi Arabia will have to navigate a particularly delicate balance between chasing buyers and charging more for its crude when setting monthly prices for its biggest customers this week.

Oil falls from three-year high as Trump pushes Saudis to pump more

Oil fell from the highest level in three years after President Trump piled pressure on Saudi Arabia to increase output and tame prices.

Libyan oil output choked off as two more ports are out of action

Libya’s National Oil Corp. declared force majeure on another two oil ports, removing thousands more bbl from the market as global supply concerns put pressure on OPEC to ramp up production.

Global natural gas prices rise for first time in two years

Global natural gas prices are increasing for the first time in two years with demand for the fuel advancing across the world.