Oil Price

Strength, then oversupply? Parsing the latest EIA oil forecast

The Energy Information Administration’s (EIA) new short-term energy forecast confirms strong demand for 2025 but notes that the balance of supply and demand will shift toward oversupply in the back half of the year and 2026.

“We expect downward oil price pressures over much of the next two years, as we expect that global oil production will grow more than global oil demand,” the EIA wrote.” We forecast that the Brent crude oil price will average $74 per barrel (b) in 2025, 8% less than in 2024,...

https://www.freightwaves.com/news/strength-then-oversupply-parsing-the-latest-eia-oil-forecast

Why the Oil Price Cap Won’t Hurt Putin?

Credits: Zbynek Burival/Unsplash

In terms of the price of Russian oil, the West wants to have it all, as reported by Foreign Policy.

Steep discounts

When Western leaders announced on Dec. 2 that they had agreed on a $60 price cap on Russian oil exports, they trumpeted it as a bold multinational achievement in energy diplomacy.

After all, Russian oil has sold at prices in the $60 range for much of the last several years.

When countries such as India and China snapped up the surplus, they negotiated...

https://mfame.guru/why-the-oil-price-cap-wont-hurt-putin/

Biden Administration Accused Of Siphoning Profit From Ukraine War !

Credit: Tom Brenner/ Getty Images
  • A collection of high-ranking European officials are fed up with the Biden administration.
  • They view the administration as war profiteering during the conflict in Ukraine.
  • The comments come amid rising gas prices and mounting tension toward US legislation that offers tax credits. 

Putin’s invasion of Ukraine is pushing European economies toward recession while the US is benefitting, some officials claim. 

Filling Own Coffers

“The fact is, if you look at it...

https://mfame.guru/biden-administration-accused-of-siphoning-profit-from-ukraine-war/

$100/barrel Landmark Oil Price Possible?

  • Oil prices lurching back to $100/barrel is now a distinct possibility, says analysts.
  • Prices are up so far this year due to vaccines roll out and demand in major economies, particularly the U.S. and China.
  • Last year, oil demand saw a historic drop of 8.8 million barrels/day.
  • Brent and WTI are now up between 40% and 45% this year.
  • Consumers have other options as prices for electric vehicles come down, and oil prices go up.
  • Forecasts of $100 barrel oil rest on assumptions of strained supply and...

https://mfame.guru/100-barrel-landmark-oil-price-possible/

Oil Prices Fall Amid Rising COVID-19 Infections in Asia

Oil prices fell on renewed demand concerns as coronavirus cases in Asia rise and on fears of rising inflation might lead the US Federal Reserve to raise interest rates, which could limit economic growth, reports ArabNews.

Oil price fall

Brent crude futures fell 73 cents, or 1.1 percent, to $67.98 a barrel at 0452 GMT. It settled 1.1 percent lower on Tuesday after briefly climbing above $70 earlier in the session.

US West Texas Intermediate (WTI) crude futures dropped 77 cents, or 1.2 percent, to...

https://mfame.guru/oil-prices-fall-amid-rising-covid-19-infections-in-asia/

$100 Per Barrel, Booming Oil Price Market

  • Traders are eyeing a bullish summer for oil, and all predictive caution has been thrown to the wind.
  • With analysts in many ways catching the crypto bug and brushing those tried-and-true fundamentals under the rug.
  • Fuals are boring. Sentiment is exciting, and spreads like wildfire on social media and among a new class of amateur traders.
  • In other words, $100 oil is in vogue.

A recent news article published in the Oil Price states that $100 oil is in vogue.

Oil market bullish

Speaking to CNBC’s...

https://mfame.guru/100-per-barrel-booming-oil-price-market/

Oil Prices Pick Up Almost by 4%

  • Today, oil prices roared back—up almost 4% on the day (the biggest mover in global markets).
  • Last year at this time, heading into Memorial Day weekend, the national average price on gas was $1.87.
  • Heading into this Memorial Day weekend it’s $3.04. I suspect it will be higher by the time we get to the weekend.

A Forbes news by Bryan Rich says that Oil Prices Roaring Back Just In Time For Memorial Day Travel.

We talked about the correction in oil prices last week as an opportunity to buy the dip...

https://mfame.guru/oil-prices-pick-up-almost-by-4/

Boosting Marine Fuel Sector With $30,000 Grants To Firms

The Republic’s maritime sector has remained resilient despite global economic headwinds, with the marine fuel or bunker segment holding steady amid the double shocks of the Covid-19 pandemic and fluctuating oil prices, says an article published in the Straits Times. 

Nonetheless, the Government is pushing on with plans to do more for the sector, said Senior Minister of State for Transport and Foreign Affairs Chee Hong Tat on Tuesday (Oct 6).

Efforts To Make Marine Fuel Sector Profitable 

One key...

https://mfame.guru/boosting-marine-fuel-sector-with-30000-grants-to-firms/

Fresh Demand Worries Keep the Oil Indexes in Turmoil

According to a MABUX press release, MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs) declined on September 07:

380 HSFO: USD/MT 303.68 (-3.33)
VLSFO: USD/MT 349.00 (-4.00)
MGO: USD/MT 425.77 (-1.93)

  • Meantime, world oil indexes also decreased on Sep.07 as Saudi Arabia made its deepest monthly price cuts to supply for Asia in five months and uncertainty over Chinese demand clouds the market’s recovery.
  • Brent for November...

https://mfame.guru/fresh-demand-worries-keep-the-oil-indexes-in-turmoil/

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