Oil prices rebounded again on Monday, with WTI shooting up more than 3% to over $61 per barrel by noon ET. Oil prices spiked to 13-month highs last week after the Texas Freeze, but prices sagged toward the latter part of the week. But on Monday, a new price rally began, with the price of WTI spiking […]
Oil prices could go as high as $100 a barrel next year on the back of “very easy monetary policy” and reflation trade, Amrita Sen, chief oil analyst at Energy Aspects, told Bloomberg in an interview. “It’s a futures market, we always discount stuff that’s going to happen in the future, now. That’s why prices are […]
The weather doesn’t always follow traders’ hopes and expectations. However, it sometimes exceeds them. December and January saw a surge in natural gas prices in Asia as a cold spell caused a boom in electricity and heating demand. Now, U.S. gas prices are also enjoying an improvement, albeit a lot more moderate than the $30 […]
Did the ‘Reddit-Raiders’ suddenly shift their crosshairs onto the energy complex? The last few days have seen WTI Crude surge over 6%… …topping $55 this morning for the first time since Jan 2020. Source: Bloomberg The catalysts for the move is uncertain amid mixed data from OPEC – on the bullish side, compliance with planned cuts […]
Goldman Sachs had another bullish message for oil markets this week, saying in a note that it expected global oil demand to recover to pre-pandemic levels of 100 million bpd by August this year. According to Goldman, the oil market was in a deficit of 2.3 million bpd in the final quarter of 2020. With supply still […]