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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Falling oil prices: why is it just wishful thinking?

The price of crude oil is steadily rising and on Friday, the primary benchmarks,  WTI and Brent, hit a record high at $118.87 and $119.72 respectively. Neither the decision by the OPEC+ to increase the output by 648,000 bpd for July and August nor the fear of a global recession buckles the trend; as…

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New Equilibrium of Oil Price:$110 a barrel to stay for long...

Having crossed the psychologically-sensitive $100 a barrel a few months ago, the crude oil markets are convinced that it is going to be the new-normal for months to come in the current circumstances. As the West has not lost the momentum in tightening the screw of the sanctions against Russia, there…

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Oil Price: exponential growth of volatility continues unabated...

With the partial ban of Russian oil in place in the EU, the scramble for finding alternatives by the major consuming nations is gathering momentum across the world, despite the outcome being far from certain. As of 09:00 on Thursday, WTI and Brent stood at $112.75 and $113.83 respectively with the p…

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