OPEC+ Meeting: no silver bullet to ease the supply crisis

The meeting of the OPEC+ ministers that is scheduled to be at 13:30 Vienna time, according to the analysts who understand the pulse of the participants, is not going to produce any short-term miracles to bring the prices of crude oil down. On the contrary, they may emphasize the need of long term inv…

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Oil Price: a perfect storm is brewing in the energy sector!

As the conflict in Ukraine has just passed the month-one mark on the precarious timeline, as far as the supplies of oil and gas are concerned, the West is scrambling for finding substitutes for the Russian oil and gas, but with very little success. Having exhausted every feasible move in placing the…

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Uncertainty in Crude Oil Markets: Russia's demand of payments in roubles makes matters worse!

No sooner had the West and its staunch allies imposed crippling sanctions against Russia over its invasion of Ukraine than the latter published a list of 'unfriendly' countries.  They include the European Union, the UK, Japan, South Korea, Switzerland, Singapore and of course, the US. Having …

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Government of the UK cuts the fuel duty by 5p

Rishi Sunak, the Chancellor of the Exchequer of the United Kingdom, reduced the fuel duty by 5p while presenting his Spring Statement in the Parliament today. The price of crude oil, however, did not immediately come down after the announcement. On the contrary, the prices of crude oil went up - act…

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Revival of the JCPOA: signatories appear to be closer to a deal - this time!

With a significant loss of global oil supply in the offing due to sanctions imposed on Russia, the West - and the rest of the world too - are scrambling for alternatives in order to keep the impending supply squeeze at bay. The IEA, International Energy Agency, is predicting that that Russia will lo…

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Rising crude oil prices: is the dreaded demand destruction in the offing?

Despite the relative rise in crude oil prices in the markets in the early hours on Wednesday, the downward trend started continuing once again as the day wears on. As of 10:35 GMT, the prices of WTI and Brent were at $95.62 and $99.13 respectively. The fall in prices on Tuesday, perhaps, may have st…

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Oil prices defy market sentiments!

The price of crude oil fell on Monday morning in Asian markets, much to analysts’ surprise, defying the conventional logic. With the Russian oil imports banned in the US and UK and the revival of the JCPOA, 2015 Iran nuclear deal, back in the doldrums, analysts in the realm of crude oil anticipated …

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Oil Price Rises again, after the sharp fall on Wednesday

The price of crude oil that fell almost by 11% on Wednesday appears to be gaining momentum again in the upward direction. As of 14:45 GMT, the price of WTI and Brent were $109.68 and $112.89 respectively. The price of crude oil that went past $130 on Wednesday, fell sharply in the evening, partly, in…

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Reviving the Iranian Nuclear Deal: is Russian factor, the latest acid test?

Having seen eye to eye on many global issues, ranging from the war in Syria to the early stages in the Ukraine-Russia military conflict, especially when it came to the role of the NATO, the relations between the two OPEC+ members may suffer if Russia drags its feet over it, citing its own interests…

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Steep rise in Oil Price: will it go exponential?

The price of crude oil almost briefly touched $130.00 over the fears of a long drawn out conflict between Ukraine and Russia. Although the Russian oil has not come under the punishing Western sanctions yet, the speculation is rife that it will be the next. As of 11:45 GMT, the price of WTI and Brent…

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Russia Ukraine Crisis and Crude Oil Markets: there is still a ray of hope for peace!

With the price of crude oil already reaching 14-year high, the stakes cannot be any higher for the global economy as a whole. As of 12:45 GMT, WTI and Brent recorded $110.45 and $112.69 respectively. The anxiety in Europe on many fronts is palpable and may soon drift out towards the periphery of the…

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