Timely petroleum, renewable fuels, railcar, and storage intelligence from the PFL team.
Basic economics 101 would tell us that inflation at 8% cannot support interest rates close to 0. Interest rates cannot and will not continue to be as low as they are right now with inflation at current levels.
Oil prices fell today, but were up week over week for the fifth week in a row. Prices are up more than 10% so far on the year.
Oil prices were pretty much flat for the day, despite a build in crude inventories and a large build in gasoline inventories.
“While $90 could have triggered some profit-taking and a minor cooling of prices, this suggests they’ll see no reprieve and we could realistically see $100 oil soon,”
Oil prices rallied again today, hitting 7 year highs as both contracts touched highs not seen since 2014
The Alberta government is currently accepting requests for proposals to operate an underground carbon storage hub serving the Alberta Industrial Heartland (AIH) zone near Edmonton.
There has been a bump up in the geopolitical risk factor that is boosting prices
Friday, the Commerce Department reported a decline of -1.9% for December, not adjusted for inflation.
Oil prices edged lower after investors took profits after two days of gains among fears of an aggressive interest rate hike in the USA
Assuming China doesn’t suffer a sharp slowdown, that Omicron actually becomes Omi-gone, and with OPEC+’s ability to raise production clearly limited, I see no reason why Brent crude cannot move towards $100