Category: Petroleum Daily

Oil prices rallied today as Gazprom officially declared force majeure on its supplies to a “European Customer” (Germany). They will be halting supplies to the region indefinitely, which will lead manufacturing and utilities to transition to oil over gas. European nations are already taking measures (dimming streetlights, restating power plants) and asking citizens to turn […]

Oil prices were higher today after comments during President Biden’s visit indicated that Saudi/OPEC was pretty much tapped out in terms of near-term production. “Part of the support is that everybody and their brother who digs down into the Saudi situation see that they don’t have a lot of capacity left,” said John Kilduff, partner […]

Oil prices continued their decline as record US inflation and abysmal earnings from Wall Street intensified recession fears.

Oil prices continued their decline as record US inflation and abysmal earnings from Wall Street intensified recession fears.

Oil prices fell to a three month low as recession fears and a new COVID-19 wave in China spooked the market.

The oil market is being pulled in two directions with exceedingly tight physical fundamentals set against forwardlooking demand concerns

The oil market is looking at the jobs report as a double-edged sword,”

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Oil prices continued lower today landing around 12-week lows in a volatile session overshadowed by recession concerns. Diesel futures fell over 5% today. “There are undeniably concerns about recessionary demand destruction, plus, WTI open interest at multi-year lows has created a bit of a liquidity crunch,” said Robert Yawger, executive director of energy futures at […]

Oil prices tanked today as recession fears were front and center. Brent fell as much as 9.5% followed by nat gas, refined products,