Hurricane Ian appears to have spared the US Gulf Coast oil refineries!

Hurricane Ian that is about to batter the west coast of Florida appears to have spared the major US oil refineries along the Gulf Coast, although the inhabitants of the southern state of the US are not out of the woods. Hurricane Ian that grew into a Category 3 storm - the highest is Category 5 - wh…

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Oil prices: the loss of feeble upthrust offered by the price of natural gas

The price of crude oil has been falling for three successive weeks despite the obvious concerns about a steady supply in the evolving political uncertainties across world - including the war in Ukraine. As of 13:45 GMT, the prices of two major benchmarks, WTI and Brent, recorded $78.21 and $85.50 re…

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Crude oil price: will the rate hikes and inflation dampen the demand further in the coming months?

Jacob Rees-Mogg, the new Business Secretary of the United Kingdom, made it clear today that the moratorium on fracking has been lifted, paving the way for larger explosions in the process of extracting trapped gas in order to ease the supply crisis.  With the moratorium gone, the fracking firms will…

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Europe's Winter of Discontent amidst gas shortages and high energy prices

source: Anadolu Data The positive correlation between the prices of crude oil and LNG, liquified natural gas, has been continuing this week too, eclipsing the significance of the US crude oil stocks in the game of determining the current price of the commodity. As of 13:00 GMT, the prices of WTI, Bre…

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Fall in oil prices for three weeks: is the 'nuclear option' of the US behind it?

The prices of crude oil seem to have found their respective new equilibrium during the past few weeks, having fluctuated wildly at the early stages of the recent price 'crash'. The prices of WTI and Brent have settled slightly above $80 and $90 respectively. As of 08:30 GMT on Friday, the pri…

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Energy crisis: a coal crunch is going to be the latest blow

The European energy crisis that shows no sign of easing at present,  now faces yet another challenge due to the shortages of a fossil fuels, usually dubbed as the dirtiest of all - coal. Analysts are already warning over what they call, a coal crunch. The EU has already been scrambling to meet the 80…

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Oil price: China's demand is back on track, but its Forex reserves have been falling

China's manufacturing PMI, Purchasing Managers Index, rose by 0.4%, according to the National Bureau of Statistics of China, in August with respect to that of July, although it is still below the threshold, implying the economic headwinds that China encountered since June. Despite the encouragin…

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Oil prices: Russian factor is not the only one that can affect the supply crisis!

The price of crude oil did not spike due to the modest output cut announced by the OPEC+,  in order to stop the prices of the commodity from falling. The price, however, remained relatively static despite the news, as analysts and investors have chosen to focus on the bigger picture on the horizon …

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Oil price: wild oscillation continues between $80 and $100 a barrel

The price of crude oil has been falling substantially since the markets opened on Thursday morning, as the wider economic worries weigh on the sentiments of a snap recovery. As of 13:15 GMT, WTI and Brent recorded $88.25 and $94.15 respectively. With the price of LNG, liquified natural gas, at $9.10…

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