Oil Prices ///

Biden, allied leaders discuss new round of oil reserve release

The U.S. and other major economies discussed oil supply and the potential for another round of releases, raising the prospect of new government intervention to ease supply strains.

Dallas Federal Reserve: Oil and gas expansion accelerates as outlooks improve significantly

Activity in the oil and gas sector accelerated during first-quarter 2022, according to oil and gas executives responding to the Dallas Fed Energy Survey, which is punctuated with a number of record highs.

The last barrel: Offshore activity to rebound

Craig Fleming

With the havoc created by the war in Ukraine and the hard push to convert to renewables, operators are once again focusing on the high ROI that offshore prospects offer. There is an onslaught of good news and positive indicators that suggest operators are poised to significantly increase offshore development in 2022.

First Oil: Poor U.S. energy policy clashes with global realities

Kurt Abraham

As many in the upstream industry anticipated, military action in Ukraine has sent oil and gas prices to their highest levels since 2008, with crude peaking at well above $100/bbl, with no end in sight.

Fortunes of U.S. oil tycoons surge as war sparks chaos in crude

Soaring oil prices are padding the fortunes of U.S. shale and gas tycoons, even vaulting one into the ranks of the world’s 500 richest people for the first time.

Hedge fund manager Pierre Andurand sees a path to $200 oil by end of the year

Commodities trader Pierre Andurand sees a path for crude oil to get to $200 by the end of the year as historically tight markets struggle to ramp up production and replace lost supply from Russia.

IEA sees Russian oil output slumping by a quarter next month

Russia’s oil output may slump by about a quarter next month, inflicting the biggest supply shock in decades as buyers shun the nation’s exports following its invasion of Ukraine.

Ukraine war threatens oil demand and investment, OPEC says

Russia’s invasion of Ukraine threatens to intensify the surge in global inflation, hurting oil demand and investment, the Organization of Petroleum Exporting Countries warned.

Oil declines as Iran, Russia and fed jostle for limelight

Oil resumed its decline after Iran carried out a missile strike in Iraq following the suspension of nuclear talks, while Russia’s bombardment of Ukraine prompted more calls to sideline the OPEC+ producer.

GlobalData: Long-term uncertainty over Russian oil and gas will sustain high energy prices

Moscow’s decision to escalate its eight-year conflict in Ukraine has sparked a global energy crisis, says GlobalData’s MEED.

Biden says U.S. will ban Russian oil, fuels to pressure Putin on war

Biden said the U.S. will ban imports of Russian fossil fuels including oil, a major escalation of Western efforts to hobble Russia’s economy that will further strain global crude markets.

Oil jumps to $130 with U.S. and U.K. set to ban Russia imports

Brent crude futures surpassed $132 a barrel while West Texas Intermediate rose to $128. The Biden administration is poised to impose a ban on U.S. imports of Russian energy as soon as Tuesday.

Strategist says Russia-Ukraine war impacting already in-flux global energy market

Global demand for oil was exceeding production by 1 MMbpd before the Russia-Ukraine war, setting the stage for an oil market that could continue to see significant price changes.

OPEC’s secretary general says continued oil and gas investment needed

OPEC remains focused on being a reliable supplier of oil to global markets but cannot control the global events causing oil price surges, said Secretary General Mohammad Sanusi Barkindo during the CERAWeek by S&P Global conference Monday.

What a ban on Russian oil may mean for an already chaotic market

Brent crude soared almost 18% to just shy of $140 a barrel at the open in Asia following news over the weekend that the U.S. and its European allies are discussing a possible ban on Russian oil exports.

Oil market to get even tighter on Russia disruptions, says Vitol

Global oil markets could tighten even more with Russian flows being disrupted and producers such as Libya experiencing supply problems, according to Vitol Group.

Oil has wildest week on record with markets jolted by war

Oil posted its biggest weekly gain on record with prices swinging in a $20 range since Russia invaded Ukraine and sparked fears of a major supply crunch.

California gasoline hits record $4.94 amid Russia oil fallout

California, already paying record prices for motor fuel, is set to shell out even more with the Golden State more exposed to surging oil prices than the rest of the country in the wake of Russia’s invasion of Ukraine.

Oil touches 14-year high, drops due to Iran deal prospects

Oil fell on signs that high-stakes talks to revive a nuclear deal with Iran may soon conclude, potentially raising supply as traders increasingly shun Russian crude.

Oil tops $110 with Russian supplies struggling for buyers

Oil extended its relentless rally above $110 a barrel before an OPEC+ meeting as the severity of disruption to Russian supplies showed signs of growing.

Oil soars as emergency crude release fails to quell supply fears

Oil surged as a decision by the U.S. and other major economies to release emergency stockpiles failed to ease concerns of a major shortfall in supplies as sanctions mount on Russia.