Oil Prices Fall After the EIA Reports an Inventory Build
Oil prices initially rose on a smaller-than-expected US producer price increase and the APIs report of declining crude oil inventories.Optimism faded after the EIA reported an inventory build, causing prices to fall.Geopolitical tensions in the Middle…
Oil Gets Risky for Traders
Oil traders are increasingly bearish, selling futures despite supply concerns and potential disruptions in the Middle East.Economic data from the US and China, along with demand worries, are driving the pessimistic sentiment in the oil market.Algorith…
Why Oil Prices Fell $10 in a Month
The price of WTI fell by $10 over the past month, collapsing from $85 to $75.The primary reason for prices falling so dramatically was the growing concern over weak demand.With fears of the U.S. entering a recession and weak economic data out of China…
Oil Markets Driven by Macro Economy, Not Fundamentals
Oil prices rose for the fourth straight session on Friday, boosted by positive U.S. jobs data that eased economic concerns.The U.S. Labor Department reported a significant drop in unemployment claims, suggesting resilience in the job market.Despite po…
California Power Bills Are Soaring
California residents face the second-highest average electricity bills in the U.S., driven by investments in wildfire mitigation, grid upgrades, and renewable energy integration.The surge in electricity costs has left nearly 1 in 5 California househol…
Oil Prices Climb as Crude Inventories Decline
Oil prices climbed after the EIA reported a surprise crude oil inventory draw, reversing an earlier decline caused by concerns about a recession.Gasoline and distillate inventories saw builds, following earlier estimates of larger increases.Geopolitic…
Goldman Sachs: Carbon Offset Markets Are About To Take Off
Goldman Sachs predicts a sharp increase in carbon credit prices as the EU carbon market decouples from gas prices.Carbon capture and storage (CCUS) is expected to become profitable due to the rising carbon credit prices.Global CCUS capacity is project…
Russia's Arctic Energy Expansion: A Geopolitical and Economic Gambit
Russias Arctic Northern Sea Route allows the country to continue exporting oil to China despite sanctions, highlighting the routes strategic importance.Russia aims to significantly increase the NSRs cargo capacity, supported by vast Arctic oil and gas…
Weak Buying from Top Users Drags Asia’s Oil Imports To Two-Year Low
Asias crude oil imports fell to a two-year low in July, driven by weak demand in China and India.Chinas economic slowdown, property crisis, and tepid fuel demand have contributed to lower crude imports.Indias oil imports typically decline during the m…
Natural Gas Becomes the Dominant Source of Electricity in the U.S.
U.S. natural gas prices hit multi-decade lows, leading to increased gas consumption for power generation.Natural gas power plants accounted for two-thirds of the 4% increase in total U.S. power generation in the first four months of the year.Gas consu…
Why the Energy Sector is Avoiding Full Emissions Disclosure
Only a small fraction of energy companies disclose investment-related Scope 3 emissions, despite regulatory pressure.Tracking Scope 3 emissions is challenging and resource-intensive, leading to reluctance from oil and gas companies to fully report the…
The Oil Trading Boom Has Finally Fizzled Out
Giant trading houses and trading desks of integrated oil majors have taken advantage of the extreme volatility in oil and energy prices to make a killing in the markets.Last month, Singapore-based oil and commodities trading powerhouse Trafigura Group…
Why Falling U.S. Inventories Fail To Lift Oil Prices
Oil prices have just booked their third consecutive weekly drop.Kemp: Between June 21 and July 19, commercial crude inventories in the United States fell by a total of 24 million barrels.Lingering concerns about the state of China’s economy and oil d…
Oil Rig Count Jumps as Drilling Activity Picks Up
The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday.The total rig count rose by 3 to 589 this week, compared to 664 rigs this same time last year.The…
Oil Prices Tank on Fears China’s Rate Cuts Herald Demand Weakness
Oil prices dropped nearly 2% due to fears of slowing economic growth in China, despite positive US inventory data.Chinas recent interest rate cut and declining crude oil imports raise concerns about weakening demand.Weak refining margins worldwide and…
Iranian Oil Exports Have Risen Sharply, Facilitated By Malaysia
According to StanChart, the latest China customs import data shows crude oil imports from Malaysia clocked in at 1.456 million barrels per day, a lot more than the country produces.Previously, we reported that Iran’s oil exports have seen a strong re…