Category: Petroleum Daily

(Oil) continues to benefit, just like copper, from expectations that supply will be kept tight while demand continues to recover,

(Oil) continues to benefit, just like copper, from expectations that supply will be kept tight while demand continues to recover,

Oil closed mostly flat today after initially trading to year+ highs earlier in the session. OPEC+ will meet again March 4th, and sources are reporting the group will discuss a modest increase in production.

Oil prices climbed to fresh highs today as EIA showed a drop in crude output. Production dropped more than 1MM/bpd and analysts are wondering how long it will take to get some of this production back on, if ever.

Oil prices had a strong day as production will be coming back slower than anticipated. “We believe that both the crude and gasoline markets have yet to fully discount last week’s sizable reduction in Gulf coast crude production as well as a major decline in refinery activity,”

Oil prices had a strong day as production will be coming back slower than anticipated. “We believe that both the crude and gasoline markets have yet to fully discount last week’s sizable reduction in Gulf coast crude production as well as a major decline in refinery activity,”

Oil prices extended yesterday’s loss as Texas prepares to ramp up production. Texas refiners had halted about 1/5 of nation’s oil processing power amid the deep freeze and power outages

I think there’s room for oil prices to move a little bit higher in this environment but, you know, not thinking about a price of $80 or $90 a barrel

This has just sent us to the next level,” said Bob Yawger, director of energy futures at Mizuho in New York. “Crude oil WTI will probably max out somewhere pretty close to $6

Colder weather across the US has been positive for oil demand, and the deep freeze has shut in an estimated 2MM/bpd of production in Texas.