Analysis
2022, February, 10, 15:20:00
OIL PRICE: NEAR $92 ANEW
Brent rose 34 cents, or 0.4%, to $91.89 a barrel, WTI was at $90.17 a barrel, up 51 cents, or 0.6%.
2022, February, 10, 14:50:00
U.S. OIL INVENTORIES DOWN BY 4.8 MB TO 410.4 MB
U.S. commercial crude oil inventories decreased by 4.8 million barrels from the previous week to 410.4 million barrels.
2022, February, 9, 12:30:00
OIL PRICE: NEAR $91 YET
Brent down 8 cents, or 0.1%, to $90.70 a barrel, WTI was at $89.18 a barrel, down 18 cents, or 0.2%.
2022, February, 9, 12:25:00
OIL PRICES 2022-23: $87-$68
This dynamic leads to rising global oil inventories from 2Q22 through the end of 2023, and the Brent spot price will fall to an average of $87/b in 2Q22 and $75/b in 4Q22. The Brent price will average $68/b for all of 2023.
2022, February, 9, 12:10:00
ENERGY RESOURCE ADEQUACY RISKS WILL UP
Throughout the West’s diverse energy resource portfolio, in recent years there has been a shift away from large baseload resources (e.g., coal, nuclear) toward more renewable and largely variable resources.
2022, February, 8, 14:15:00
OIL PRICE: NEAR $91
Brent was down 73 cents, or 0.8%, at $91.96 a barrel, WTI fell 52 cents, or 0.6%, at $90.80.
2022, February, 7, 11:40:00
OIL PRICE: ABOVE $92
Brent was down 2 cents at $93.25 a barrel, WTI fell 47 cents, or 0.5%, to $91.84 a barrel.
2022, February, 7, 11:05:00
WORLDWIDE RIG COUNT UP 69 TO 1,632
The Worldwide Rig Count for January was 1,632, up 69 from the 1,563 counted in December 2021,and up 449 from the 1,183 counted in January 2021.
2022, February, 7, 11:00:00
U.S. RIGS UP 3 TO 613
U.S. Rig Count is up 3 from last week to 613 , Canada Rig Count is up 1 from last week to 218.
2022, February, 4, 11:05:00
OIL PRICE: ABOVE $91
Brent was up 47 cents/b (0.52%) from the previous close at $91.58/b, WTI rose 63 cents/b (0.7%) at $90.90/b.
2022, February, 4, 10:30:00
U.S. OIL INVENTORIES DOWN BY 1.0 MB TO 415.1 MB
U.S. commercial crude oil inventories decreased by 1.0 million barrels from the previous week to 415.1 million barrels.
2022, February, 3, 13:55:00
OIL PRICE: NOT ABOVE $89
Brent was down 43 cents/b (0.48%) from the previous close to $89.04/b, WTI fell 60 cents/b (0.68%) at $87.66/b.
2022, February, 2, 12:25:00
OIL PRICE: NEAR $89 YET
Brent crude rose 11 cents, or 0.1%, to $89.27 a barrel, WTI was up 14 cents, or 0.2%, at $88.34 a barrel.
2022, February, 1, 14:55:00
OIL PRICE: NEAR $89 ANEW
Brent was down 74 cents, or 0.8%, at $88.52 a barrel , WTI slipped 83 cents, or 0.9%, to $87.32.
2022, February, 1, 14:45:00
OPEC+ RUSSIA: +400 TBD
Already, oil prices have hit seven-year highs in recent days over the ratcheting tensions between the West and Russia over Ukraine.
