Oil and Gas Prices
News
April 16, 2024
Oil traders piled into more than 3 MMbbl worth of options contracts in a bet that prices would spike to $250 a bbl by June as geopolitical risks remain elevated.
News
April 14, 2024
Trading resumed at 6pm New York time on Sunday. The risk of a direct Iranian attack on Israel was already at least partly priced in — benchmark Brent crude, up 17% so far this year, passed $90 a bbl after the strike on Iran’s embassy.
News
April 08, 2024
Crude futures topped $90 a bbl last week for the first time since October as a combination of robust consumption, output disruptions and geopolitical risks pushed prices higher.
News
April 07, 2024
Brent crude rallied more than 2% to climb above $90 a barrel on Thursday after Israeli Prime Minister Benjamin Netanyahu vowed to retaliate to any attack from Iran, despite the United States urging Israel to protect civilians.
News
January 14, 2024
Cold weather can cause freeze-offs, a condition when equipment related to natural gas production or pipelines can malfunction, curbing supply. Rising spot gas prices can be an indicator that traders are worried about high demand and freeze-offs lowering supply.
News
January 12, 2024
Oil jumped as the U.S. and its allies launched airstrikes against Houthi rebels in Yemen, retaliating for attacks on ships in the Red Sea that have imperiled flows of fuel and goods through the vital waterway.
News
December 04, 2023
ExxonMobil Corp. CEO Darren Woods said the Texas energy giant is focusing on producing oil in Guyana as efficiently as possible to help the South American country in its border dispute with Venezuela.
News
November 27, 2023
With futures well down from September highs, widely watched timespreads for global benchmark Brent and U.S. counterpart West Texas Intermediate have softened, signaling ample supply, while U.S. stockpiles have jumped.
News
November 22, 2023
The decision by OPEC+ to move its meeting from the weekend to next week is likely to affect millions of barrels worth of oil options and potentially send prices swinging more widely.
News
November 20, 2023
Brazil’s state-controlled oil giant Petroleo Brasileiro SA will continue with its current price policy, making adjustments only when technical guidelines suggest the need for them.
News
November 15, 2023
The US will enforce oil sanctions against Iran amid the renewed conflict in the Middle East, a White House Energy adviser said Wednesday.
News
October 29, 2023
Crude was trading on Friday when Israel stepped up ground operations, and West Texas Intermediate surged as much as 3.2% to trade above $85 a bbl.
News
October 24, 2023
As inventories decline in the coming months, “the market will have to beg for more supply at some point,” the founder of Andurand Capital Management LLP said during a question-and-answer session at Saudi Arabia’s Future Investment Initiative in Riyadh.
News
October 20, 2023
War in the Middle East could cause the oil price to surge to $140 a bbl and bring the world to the brink of a recession, according to Ana Boata, head of economic research at Allianz Trade.
News
October 11, 2023
Benchmark U.S. crude futures dropped below $85 a bbl on Wednesday as the conflict remained largely confined to Israel and Gaza. Iran is OPEC’s fourth-largest oil supplier, behind Saudi Arabia, Iraq and the United Arab Emirates.
News
October 10, 2023
ExxonMobil Corp. boss Darren Woods is poised to emulate his two predecessors with a career-defining mega deal that — for better or worse — would likely transform the oil giant.
News
October 09, 2023
Oil surged more than 4% after Hamas’ surprise attacks on Israel over the weekend threatened to inflame tensions in the Middle East, home to almost a third of global supply.
News
October 09, 2023
Treasury Secretary Janet Yellen said the U.S. is preparing to crack down on evasion of the Group of Seven’s price cap on Russian oil, as recent market prices signal that the mechanism may no longer be working as hoped.
News
September 26, 2023
CEO Vicki Hollub said she hadn’t seen evidence of demand destruction yet. Even if oil prices do top $100 a barrel, she doesn’t expect them to stay there long enough to start eroding demand.
News
September 19, 2023
Wirth has held a bullish view on oil for some time. In March, he cited a combination of dwindling spare production capacity around the world and the anticipation that China’s economy will pick up speed again.
News
September 19, 2023
Market expectations indicate that oil prices will “stabilize and move down” over time, Treasury Secretary Janet Yellen said in an interview with MSNBC on Tuesday, adding that that was her own hope and expectation also.
