The Crude Reality: oil prices are back in static territory!

As the prevailing tensions in the Middle East gradually ease, the short-lived spike in oil prices appears to be dying  down, leaving the oil markets back at the mercy of the usual factors.  With the two successive assassinations of key figures,  a few hours apart,  in the conflict in the Middle East, …

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Oil prices on decline - again!

The price of crude oil is back on decline, having been on the rise for about three weeks. As of 13:00 GMT on Tuesday, the prices of WTI and Brent were at $77.94 and $81.97 respectively.  Although some analysts were quick to predict a surge in oil prices due to the attacks carried out by Israel on Sa…

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Oil Price: cloudy outlook with bearish tendencies

The slow growth rate of China's GDP, around 5% according to the latest forecasts,  coupled with the falling gas prices, is clearly inhibiting the potential rise of global oil prices.  China, the world's top oil importer and second largest consumer after the US, enjoyed four decades of robust…

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Iranian New President: a heart surgeon who gauges nation's pulse - well!

Iranians elected a new president on Friday in a run-off election, who has pledged to take the country out of international isolation while promising women more rights that include relaxing the strict dress code - the compulsory hijab-wearing in public. Dr Masoud Pezeshkian, the president elect, aged…

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The Double-Edged Sword: Falling Oil Prices and Regional Impacts

The price of crude oil slightly increased as the weekend approached, something that has been attributed to the rising tension in the Middle East between Israel and Hezbollah, the Shite military group in Lebanon. As of 18:00 GMT, the prices of WTI and Brent were at $81.58 and $86.46 respectively. The…

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Oil price: diverging forecasts on oil demand from two global giants

IEA (2024), Annual oil demand growth, 2011-2025, IEA, Paris The Paris-based International Energy Agency, IEA, put a damper yet again on the perceived demand for oil in 2024 and 2025, in stark contrast to that of the OPEC+, the Organization of Petroleum Exporting Countries plus Russia. According to IE…

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Sharp rise in US crude stocks: the only chart that explains the oil price stagnation

The price of oil has been down for the fourth successive week with Brent hitting below $80 again. As of 18:00 GMT on Friday, the prices of WTI and Brent recorded $75.53 and $79.62 respectively.  The long-awaited meeting of the OPEC+, meanwhile, went ahead on Sunday, June 2, with some members opted f…

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The latest blow to the oil and gas markets: Chinese manufacturing sector shrinks again!

In the ascending order of anxiety, the OPEC+ has been forced to accumulate a growing range of bad news in recent times for its decision makers to digest. In this context, the latest manufacturing data from China hardly comes as a catalyst for optimism, as far as the oil cartel is concerned. China…

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Argentinian Shale Oil Boom: is it Milei's miracle?

Image Credit: Times of India Javier Milei, the flamboyant, Argentinian president, who came to power in December  by performing a series of unorthodox, political stunts, appears to be determined to assign a range of controversial tasks to his most striking political symbol during the campaign - the c…

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