Analysis
2023, February, 15, 14:00:00
OIL PRICE: BRENT BELOW $85, WTI ABOVE $78
Brent slid $1.13, or 1.3%, to $84.45 a barrel, WTI dropped $1.31, or 1.7% to $77.75.
2023, February, 15, 13:55:00
GLOBAL OIL DEMAND WILL GROW
Nonetheless, the IEA said global oil markets will likely remain in surplus in the first half of the year amid surprisingly robust output from Russia.
2023, February, 15, 13:45:00
GLOBAL NUCLEAR POWER RISE
Many countries including China and India have developed aggressive nuclear development plans, as have Poland, the Czech Republic, the UK, the Netherlands, and even Ukraine to a lesser extent.
2023, February, 15, 13:35:00
U.S. RENEWABLES GROWTH
Renewable energy sources (i.e., biomass, geothermal, hydropower, solar, wind) provided nearly three-quarters (74.1%) of new utility-scale generating capacity in the U.S. last year.
2023, February, 13, 13:50:00
OIL PRICE: BRENT BELOW $86, WTI BELOW $79
Brent fell 86 cents, or 1%, to $85.53 a barrel, WTI was at $78.83 a barrel, down 89 cents, or 1.1%.
2023, February, 13, 13:40:00
EUROPEAN GAS PRICES DOWN AGAIN
Benchmark futures are now trading just above €50, near the lowest levels since September 2021.
2023, February, 13, 13:35:00
QATARI LNG FOR CHINA
CNPC's talks follow a deal announced last November by China's Sinopec, in which QatarEnergy agreed to supply 4 million tonnes of LNG annually for 27 years, the longest duration LNG supply contract ever signed by Qatar.
2023, February, 13, 13:30:00
RUSSIAN FUEL OIL FOR CHINA RISE
China has imported about 2.3 million mt HSFO over December-January, about 235% higher compared to 687,000 mt during November-December, according to Kpler shipping data.
2023, February, 10, 12:50:00
OIL PRICE: BRENT NEAR $87, WTI ABOVE $80
Brent rose $2.17, or 2.57%, to $86.67 a barrel, WTI were up $2.01, or 2.57%, at $80.07.
2023, February, 10, 12:45:00
RUSSIAN OIL CUTTING 0.5 MBD
Moscow’s move deepens the 2 million barrel-a-day production cut announced late last year by OPEC+, which Russia leads along with Saudi Arabia.
2023, February, 10, 12:25:00
GLOBAL ELECTRICITY DEMAND UP
World electricity demand remained resilient in 2022 amid the global energy crisis triggered by Russia’s invasion of Ukraine. Demand rose by almost 2% compared with the 2.4% average growth rate seen over the period 2015-2019.
2023, February, 10, 12:05:00
U.S. OIL INVENTORIES UP BY 2.4 MB TO 455.1 MB
U.S. commercial crude oil inventories increased by 2.4 million barrels to 455.1 million barrels.
2023, February, 8, 13:05:00
OIL PRICE: BRENT NEAR $85, WTI ABOVE $78
Brent rose 99 cents, or 1.2%, to $84.68 a barrel, WTI climbed 93 cents, or 1.2%, to $78.07.
2023, February, 8, 12:50:00
RUSSIAN OIL FOR INDIA WILL UP
India's oil imports from Russia are likely to continue to rise this year mainly because of the steeply discounted prices it is selling at, he said, and assuming there are "no further stringent actions by the Western countries targeting Russian oil."
2023, February, 8, 12:45:00
OIL PRICES 2023-24: $82 - $78
spot price of Brent crude oil falls to an average of $82/b in 2H23 and $78/b in 2024.