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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Crude Oil Price: security vacuum left behind by the US in the Middle East worries investors!

The price of crude oil significantly fell on Monday defying the usually favourable factors to the contrary such as the drop in the US crude oil inventories and the clear upward trend of global demand. As of 10:30 GMT, WTI and Brent recorded $70.51 and $74.04 respectively; the prices of both benchmar…

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How will crude oil markets react on Monday to diminishing Delta factor?

Analysts are keen on watching the crude oil markets on Monday, especially after a lacklustre performance during the past few days, despite a substantial drop in the US crude stocks. Both, the EIA, US Energy Information Administration, and the API, American Petroleum Institute, reported larger-than e…

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Anxieties still loom over the crude oil markets despite strong demand

The oil price recorded a modest rise this week despite the significant drop in the crude stocks in the world’s biggest consumer of the commodity, the US. Both the API, American Petroleum Institute, and the EIA, US Energy Information Administration, came up with the encouraging numbers that showed a …

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EIA and API show record US crude inventory draws: demand seems to be finally on track

The anxieties that gripped the crude oil markets may die down in the coming weeks as the US crude oil inventories fell by significant numbers, according to the latest data from the two most prominent agencies in the field. The latest, from the EIA, US Energy Information Administration, shows an inve…

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Why does the price of crude oil record a modest hike, despte the concerns over supplies?

Despite the rising demand for crude oil, especially in the developed world, the rise in price of crude oil has been modest in recent days. The API, American Petroleum Institute, for instance, declared on Tuesday that the weekly draw for the previous week was 5.437 million barrels, 1.534 million bar…

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Norway' s Election Results: the victory of the Left may add more uncertainties to the fossile fuel markets

Norway, the Scandinavian nation that is Western’s Europe’s major oil producer, is about to get a government led by its Labour party in the coming days. The opposition led by Labour party achieved a landslide victory, gaining over 100 seats in 169-seat parliament in which the winning party just need…

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Perpetuating oil supply uncertainties: US removes air defence system and Patriotic batteries from Saudi Arabia

It’s confirmed that the US has started removing its state-of-the-art air defence system and the Patriotic missile batteries from Saudi Arabia for reasons unknown to the rest of world, leaving the move open to various interpretations. Saudi Arabia has been under attack by Houthis from neighbouring Ye…

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The phone call between the two economic superpowers ignites the optimism in the crude oil markets

The phone call between President Biden and President Xi of China, after a lull of seven months since the first of that kind being made, helped Asian markets make some gains in the early hours of trading. It is felt in the crude oil markets as well. Following the unexpected conversation, both sides s…

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