Why do US crude inventoreis rise, when oil prices soar?

Defying logic, the US crude inventories rose for the third successive week, according to the data released by the EIA, US Energy Information Administration and the API, American Petroleum Institute. The API said on Tuesday that the US crude inventories rose by staggering 5.21 million barrels; the E…

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The EIA predicts higher fuel bills for US consumers this winter: the energy crunch shows no sign of abating

There is no sign of let-up in the global energy crunch as of this week, as the chaos in supply chains grows unabated alarmingly. Long standing, sometimes running centuries back, political rivalries hardly help alleviate a catalogue of crises stemmed from the same problem that needs collective globa…

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Floods in Chinese Coal-mining regions: doule whammy is not just for China!

China’s energy crisis was dealt a new blow on Monday as two key regions in the north, Shanxi and Shaanxi provinces, experienced heavy floods. The Chinese government, according to media reports, allocated over $12 million for those who had been affected by the disaster. In addition, some major busine…

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Global energy crisis: no magic bullet in the offing

The price of crude oil reached record high on Monday as the worries over the supply of fuel for the winter months in Europe and America are growing by the day. At present, the Western policymakers do not know what to do in order to alleviate the crisis: gas has been in short supply for weeks and th…

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Rising energy prices: no solution without turning back to fossil fuels - at least in the short-run

Although China made it clear recently that China was committed to meets its global obligations, when it comes to curtailing the greenhouse gases, the reality on the ground has forced some regional powers within the country to dealing with the acute power shortages, especially in the northeast regio…

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Crude Oil Markets: Saudi Arabia makes a generous gesture to ease the pain of consumers

In a tangible gesture of goodwill, Saudi Arabia has reduced the price of oil for Asia, Europe and the US, as the energy shortages have evolved into a major crisis. The OPEC+ meeting that lasted just over 20 minutes on Monday did not result in an increase in oil production, despite the direct pressur…

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Crude oil price: all eyes on today's OPEC+ meeting

Amidst the growing concerns about the short-term availability of fossil fuels that the world is so eager to ditch unceremoniously in few years, the focus of attention of the crude oil markets is on the OPEC+ meeting scheduled to be held today. Apart from those who are infectiously fond of the renew…

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Oil Price: US Intervention, falling crude inventories and China's energy woes cause ripples in the crude oil markets

The price of crude oil fell again on Friday, having crossed the psychologically significant $80 a barrel for Brent on Wednesday, wiping off the gains of the last two days. As of 09:30 GMT, the prices were at $74.26 and $77.60 respectively. The sentiments that triggered off the fall may have stemmed f…

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Fossil fuels are not going away even after 2045 - OPEC+

Having been emboldened, perhaps, by the chaos engulfing the global energy markets, the OPEC+ says the fossil fuels will still be in use through 2045 and beyond and there will not be a perfect substitute for it for decades to come. OPEC+ admits that the tendency to embrace renewable sources will cont…

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Oil Price: Brent crosses the psychologically-important $80 barrier

The price of Brent crossed the psychologically important $80 barrier in the early hours, today, undoubtedly causing ripples across the corridors of power across the world. As of 10:30 GMT, the prices of two major benchmarks, WTI and Brent, stood at $76.27 and $80.23 respectively. It is obvious that t…

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Rising crude oil price: inverse correlation between demand and supply is blatantly clear now!

The price of crude oil in the international markets has been rising this week, leaving the fluctuating uncertainties that we saw in the past few weeks behind. As of 16:30 GMT, the price of WTI and Brent stood at $75.36 and $79.49 respectively. It’s now, more or less, determined by the two basic facto…

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European energy crisis: the perfect storm that many did not see coming to a city near us!

At the height of the 2008 financial crisis that came about out of the blue, Queen Elizabeth ||, the British Monarch, was reported to having asked some experts in the field, “Why no one saw this coming?” at an event in the aftermath of the disaster. Of course, Her Majesty’s audience could not give a …

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Falling US crude inventories keeps the oil prices steady - for now!

The US crude oil inventories have been falling for the past few weeks, which manage to keep the price of crude oil at the current level, without being subjected to wild fluctuations. The numbers, both from the API, American Petroleum Institute and the EIA, US Energy Information Administration, somet…

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Revival of the Iranian Nuclear Deal: will it overshadow the key factors in the oil markets again?

After months of uncertainty over the revival of the JCPOA, 2015 Iranian deal, the diplomatic moves are fully underway to restart the negotiations. Both President Biden and President Raisi of Iran hinted that the next round of talks is in the offing in Vienna, the Austrian capital. If Iran is allowed…

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China to the rescue! crude oil prices are steady on Tuesday

Oil prices remain steady on Tuesday, despite the worrying trend that analysts saw on Monday. Having debated the health of China’s economy for weeks, if not months, it’s now clear for analysts that China’s oil imports are showing the signs of recovery in spite of the country tapping its strategic pet…

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