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.

A drop in new Covid cases and hospitalizations have also been encouraging for markets. “Expected U.S. stimulus and ongoing vaccine progress is likely to maintain appetite for risky assets

Oil prices cooled off today after a long win streak despite the Dow hitting record highs earlier today.

The oil rally is now the longest it has been in two years, with 9 straight winning days as vaccine, stimulus, and output cuts keep the momentum going. However, Bjornar Tonhaugen of Rystad Energy warned “The current price levels are healthier than the actual market and entirely reliant on supply cuts, as demand still needs […]

Brent reached $61.09 up $1.22 hitting a fresh high as OPEC+ cuts, along with the expectation of another

Today Egypt announced that their oil and gas companies are set to launch their new oil and gas exploration by the end of this month.