Oil price below $100 a barrel: is it just wishful thinking?

The fall of crude oil prices, which rattled the markets last week, did not continue  on Monday. As of 11:00 GMT, WTI and Brent were trading at $102.15 and $105.62 respectively. The price of LNG, liquified natural gas, meanwhile, is significantly up, crossing the $7.50 mark, clearly reflecting the wi…

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Relatively static oil price and the US crude inventory build

The price of crude oil fell below $100 in the markets this week, a trend that is inherited from the performance of the last week. As of 14:50 GMT, WTI and Brent recorded $96.02 and $99.26 respectively. At present, crude oil markets are not short of negative sentiments: there is a strong probability …

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High Oil Price: the perfect boomerang to haunt producers too!

We, both analysts and mere mortals, who passionately follow the oil and gas markets, have been saying for months that the current crude oil and gas prices are way too high to be sustained.  Having come under pressure on many fronts, the OPEC+ agreed to increase the production by 648,000 bpd for July…

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Oil Price: no potential watershed moment from Biden visit to the Middle East!`

The prices of crude oil dipped slightly on Tuesday with the two major benchmarks remaining relatively static. At 14:20 GMT, the prices of WTI and Brent were at $109.10 and $110.23 respectively; the price of LNG, liquified natural gas, however, continues to fall despite the political friction against…

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Oil price: EIA sheds light on yet another crucial factor in the game

The price of crude oil extended the losses for three successive weeks, following the linear fate of LNG, liquified natural gas, which fell by over 40% in June, having reached the highest at $9.33. As of 09:45 GMT, the prices of WTI, Brent and LNG stood at $106.37, $109.90 and $5.72 respectively. The …

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Price cap on Russian Oil Exports - the last resort!

The leaders of the world's wealthiest nations, the G-7,  went into what modern motivational speakers call, a brainstorming session, at the weekend in Germany, in order to discuss the global economic outlook, when uncertainty on the same front morphs into frightening forms.  On the top of their a…

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Is European winter of discontent in the offing with gas shortages?

On a determined mission to turn their back on Russian oil and gas, the European countries are simply staring into an abyss of uncertainty in the absence of reliable substitutes for the shortfall.  Before the war broke out, the EU relied on Russia for over 40% of its gas supply; in Germany, the figur…

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Oil price dropping by 10% in a week: has the fear of recession taken its toll on it?

The price of crude oil went down more than 10% this week, perhaps due to the fears over recessions that could sweep over the top global economies in the coming months, if confirmed by the forthcoming GDP figures for the Q2, the second quarter. Since two successive quarterly contractions spell the mu…

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President Biden's Trip to Saudi Arabia amidst Rising Oil Prices: will it break the ice?

With the inflation skyrocketing, the Western politicians have been forced to occupy the enviable space between the rock and hard place, when the spectre of recession appears just on the horizon. The rise of interest rates and the inevitable sequence of events triggered off by it, do not make pleasan…

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High Oil Prices: oil companies fear it's not sustainable!

It's all about the age-old adage, after all; what goes up, does come down - in the end. The key players in the oil and gas industry, at boardroom level, now feel the current oil and gas prices are not sustainable, because the damage to the global economic growth is already there for all to see.  …

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Thaw in relations between the US and Saudi Arabia: good news for the crude oil markets - at last!

There are strong indications in Washington that President Biden, after all, is going to meet the Crown Prince of Saudi Arabia, Mohammed bin Salman, leaving many political bigwigs of the Democratic Party in an uneasy lurch. President Biden, who promised to take on Saudi Arabia over its 'human rig…

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Will the sky-high energy prices put a damper on energy transition?

The prices of crude oil and LNG, liquified natural gas, went up again on  high  and the obvious absence of the factors that usually bring them down are worrying economists over the impact on the global economy as a whole. In the UK, for instance, it recorded the highest daily jump in price on Wednesd…

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