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Oil Price News Headlines

OilPrice.com Daily News Update
All the latest in Oil, Gas, Commodity news and analysis

Is The Oil Market Ready For Sanctions On Iran?
by Tsvetana Paraskova
21 Apr 2018 at 4:00pm
Oil market participants and analysts will be intently watching the Trump Administration over the next month. May 12 is the deadline for the U.S. President to decide to waive sanctions on Iran as part of the nuclear deal that global powers reached with Iran in 2015, allowing Tehran to resume oil exports and regain part of its market share. The re-imposition of sanctions on Iran?s oil is not 100-percent certain, although the probability is high, various analysts say. The potential loss of Iran?s oil exports varies from zero to 1 million?

Why China?s Shale Boom Is Struggling
by Irina Slav
21 Apr 2018 at 2:00pm
A few years ago, there was a lot of talk about a Chinese shale revolution as the country?s fast-growing demand for natural gas sparked enthusiasm in the exploration of its potentially huge shale gas reserves. Then the hype died down as it turned out that the enthusiasm was premature. Now it?s back with a vengeance and a set of homegrown fracking technologies that could finally spur the development of those huge resources. China has recoverable shale gas reserves of 1,115 trillion cu ft, the latest estimate of the Energy Information?

Are High Oil Prices Sustainable?
by Gail Tverberg
21 Apr 2018 at 12:00pm
Oil prices are now as high as they have been for three years. At this writing, Brent is $74.14 per barrel and West Texas Intermediate is at $68.76. These prices aren?t really very high, if a person looks at the situation from a longer-term point of view than the last three years. (Click to enlarge)Figure 1. EIA chart of weekly average Brent oil prices, through April 13, 2018. There is always a question of how high oil prices can go, and for how long. In fact, we have many resources, of many kinds, whose prices of extraction keep rising higher.?

A Natural Gas Crisis Looms Over Colombia
by Matthew Smith
21 Apr 2018 at 10:00am
Colombia?s energy sector is caught in a series of crises. The prolonged slump in oil since the end of 2014 saw investment in the sector, which is critical to the economy, collapse. This sparked a sharp downturn in oil production, causing the Colombian peso to weaken sharply and economic growth to stall. The twin threats of declining oil and gas reserves as well as production are weighing on the Andean nation?s economic outlook. In a surprise move, Colombia was forced to start regular imports of liquified natural gas (LNG) in late 2017?

The U.S. Ethanol Industry Is Under Attack
by Robert Rapier
21 Apr 2018 at 8:00am
Jerry Jung?s passion for reforming the nation?s ethanol laws started when henoticed that the monarch butterflies had vanished from hishobby farm north of Clare, Michigan. After doing a bit of research, he learned that the monarch population had plummeted in recent years. A key reason for the declining population is that large swaths of the country are being planted in corn and soybeans.Among other things, these monocultures put some native species at risk by deprivingthem of traditional food sources. Most of?

Shell?s Profits Soar From Strong Asian Demand
by Tsvetana Paraskova
20 Apr 2018 at 8:00pm
Oil major Shell has snapped up over 8 million barrels of June-loading crude oil grades from the Middle East and Russia and has resold some of the cargoes in Asia, taking advantage of the strong Asian demand, Reuters reported on Friday, citing five trading sources. Wider Brent premium over the Middle Eastern benchmark Dubai this month has made Atlantic crude oil supplies more expensive than the Middle Eastern and Russian supplies, which are priced off the Dubai benchmark. According to two of Reuters? sources directly involved in the trades,?

Private Chinese Chemical Giant Gets Largest-Ever Oil Import Quota
by Tsvetana Paraskova
20 Apr 2018 at 5:00pm
Hengli Petrochemical, a unit of private Chinese chemical giant Hengli Group, has obtained state approval to import 400,000 bpd of crude oil?the largest quota ever handed to a private Chinese refiner, as it aims to start a new refinery this year, challenging the smaller independent Chinese refiners. Listed Hengli Petrochemical said in a stock exchange filing that the Chinese state economic planner, the National Development and Reform Commission (NDRC), had approved the import quota. Hengli Petrochemical has plans to begin this October?

WTI Trending Up Despite Pullback
by Jim Hyerczyk
20 Apr 2018 at 4:00pm
U.S. West Texas Intermediate crude oil futures spiked to their highest level since late 2014 early this week before backing away on profit-taking. The long-term fundamentals are painting a bullish picture of the market, but concerns over short-term valuations may be encouraging speculators to book profits while they position themselves ahead of further confirmation of the bullish outlook. The week started with some light speculative buying on Monday. Some of the buying was tied to the upside technical momentum related to the previous week?s?

Can $80 Oil Be Justified?
by Tsvetana Paraskova
20 Apr 2018 at 4:00pm
Oil prices could reach $80 a barrel in April, although such a price would not be justified by market fundamentals, Russia?s Energy Minister Alexander Novak said on Friday. Asked whether $80 oil is a fair price for oil, Novak told reporters at the end of an OPEC/non-OPEC ministerial meeting in Saudi Arabia that he couldn?t rule out anything, and geopolitical factors could push prices up. But $80 oil, according to Novak, is not the price that fundamentals are currently supporting, Russian news agency RIA Novosti quoted the minister as?

Global Energy Advisory ? 20th April 2018
by Editorial Dept
20 Apr 2018 at 4:00pm
The plot around Canada?s Trans-Mountain oil pipeline expansion has thickened to the point that nobody can say anymore whether the project will survive or go under. If the latest remarks from Kinder Morgan CEO Steven Kean are any indication, the latter has become a bit more likely than the former. In the company?s Q1 financial report conference call, Kean said that the problem with Trans Mountain was not financial but political. The executive referred to Ottawa?s offer to provide financing for the project if Kinder Morgan is uncertain?

Trading Trump?s OPEC Tweet
by Martin Tillier
20 Apr 2018 at 4:00pm
Oh no, here we go! This morning, Donald Trump, who seems to be constantly looking for a controversy to deflect from the gathering clouds of the Mueller investigation, decided to tweet out his opinions on the price of oil. Up to this point, the energy markets have largely been spared the need to do what I refer to as TTT (Trading Trump?s Tweets), so to understand the implications of this we need to look at how stock traders have learned to handle the occasional words of wisdom our leader shares via Twitter. What traders in other markets have?

The Bearish Case For Oil Stocks
by Dan Dicker
20 Apr 2018 at 4:00pm
It?s hard to imagine myself writing a more insightful column than the one I wrote last week on the energy markets and how to play them. I invite you to please read that one again before I continue on here: In that column I foresaw the continued strength that was likely to occur in oil prices, but even more importantly, the beginnings of the end of the strange and unfathomable disconnect that had been occurring between the prices for oil and the prices of oil stocks. This Wednesday?s and Thursday?s action in the markets couldn?t?

The Problem With $100 Oil
by Editorial Dept
20 Apr 2018 at 4:00pm
Friday April 20, 2018 In the latest edition of the Numbers Report, we?ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we?ll dig into some data and provide a bit of explanation on what drives the numbers. Let?s take a look. 1. $100 oil means expensive gasoline (Click to enlarge) - Reports that Saudi Arabia is considering $100 per barrel as a goal would translate into prices at the pump in the U.S. at about $3.60 per gallon.- That is more than $1 per gallon more than current?

Is Alberta Suffering From The Oil Curse?
by Irina Slav
20 Apr 2018 at 2:00pm
Alberta needs long-term fiscal planning to avoid the adverse effects of oil price swings on the contents of its coffers, outgoing auditor general Merwan Saher said in his final report. ?I have no idea what the (government) plan is going out into the future,? he said. ?I think there?s a tendency generally, we?re human beings, that the future will take care of itself. That is incredibly risky for a group of people to rely on.? Alberta enjoyed massive oil revenues during the boom years, but it is now suffering the?

Oil Prices Bounce Back On Bullish Sentiment
by Tom Kool
20 Apr 2018 at 12:00pm
Despite bullish sentiment in oil markets, crude prices were trading relatively flat on Friday after traders booking gains, a Trump tweet and a rising oil rig count. (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge)Friday, April 20, 2018 Geopolitics and an ever-tightening oil market are pushing prices up to fresh multi-year highs. ?Brent crude oil is ticking higher by the day as OPEC+ cuts are intact, global oil demand growth is firm?Venezuela oil production?

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