Energy
What Carter and Reagan Got Right About Oil Shocks
The conflict in Iran is unlikely to lead to 1970s-style oil rationing, but policymakers must use price mechanisms and encourage domestic energy investment to insure against unpredictable escalations, says Andy Mayer In 1979 the Iranian Revolution sparked the ‘second oil crisis’ as the price of crude oil more than doubled to $40 per barrel. Although global production only fell four per cent, then seven per cent during the following year’s Iran-Iraq war, it took time for policy and global supply...
Energy
Oil Price Surge: Brent Crude Nears $90 Amid Mideast Tensions
Brent crude oil prices are nearing $90 a barrel due to escalating tensions in the Middle East, specifically disruptions in the Strait of Hormuz. Concerns are rising about a potential spike to $150 if supply routes are further compromised, impacting global markets and potentially triggering stagflation in Europe.
Energy
Virtual Power Plants Are Key to Unlocking America's Energy Transition
Interest in Virtual Power Plants (VPPs) is increasing across the United States. A VPP relies on the combined power of various renewable energy projects, such as home or small-scale solar and wind power projects. Solar panels and home batteries have significantly increased in popularity in recent years, as people look to drive down energy bills, as well as switch to green energy. VPPs are networks of small energy-producing or storage devices, which, together, provide power to the electricity...
Energy
Crude Oil Price Forecast: Geopolitical Tensions Fuel $150 Brent Speculation
Escalating Middle East tensions and supply route disruptions have sent Brent crude oil prices soaring, sparking concerns of a potential surge to $150 a barrel. This analysis explores the factors driving oil's ascent and the implications for traders and investors.
Energy
Markets Weekly Outlook – Geopolitics Overpower Fundamentals: The $150 Oil Warning and Rate Cut
Week in review Escalating Middle East conflict and disruptions in the Strait of Hormuz have pushed Brent crude to $90 a barrel, raising fears of oil hitting $150. A surprising contraction in the US labor market (unexpected job losses in February and unemployment at 4.4%) has increased the chance of a June or July interest […] The post Markets Weekly Outlook – Geopolitics Overpower Fundamentals: The $150 Oil Warning and Rate Cut appeared first on ActionForex.
Energy
Falling Energy Per Capita Is the World's Biggest Problem
A few years ago, I analyzed the growth of world energy consumption, breaking it down into (a) the growth in energy consumption needed to support the growth in world population, and (b) the growth in energy consumption available to support higher standards of living. This analysis covered the period 1820 to 2020. I found that periods of low growth tended to coincide with wars, depressions, and collapses. This is not surprising in a world economy governed by the laws of physics. Every part of the...
Energy
Venezuela's Gas Potential Could Overshadow Its Famous Oil Reserves
Following the United States intervention in Venezuela on 3rd January, which brought an end to President Nicolás Maduro’s 13-year dictatorship, all eyes have been on the South American country’s oil industry. Once one of the world’s biggest oil producers, output has waned in recent years. However, with U.S. President Trump setting his sights on Venezuelan crude, many are speculating just how quickly its resources can be tapped. While the focus is on Venezuela’s potential as an oil power, others...
Energy
Crude Oil Skyrockets As Intensifying Gulf War Triggers Production Concerns
(RTTNews) - Crude oil has catapulted on Friday after Qatar warned of a production halt in the gulf in the coming days as the ongoing U.S.-Israeli war against Iran has heavily disrupted the energy supply route through the Strait of Hormuz.
Energy
Trump Shrugs Off Biggest Gas Price Spike in Years
Americans are experiencing a sharp rise in gas prices this week, with the national average gasoline price posting its largest weekly jump since the early days of the Russia-Ukraine war. If fuel prices continue to climb as the U.S.-Israeli Operation Epic Fury intensifies against Iran, the fallout for consumer sentiment may weigh on the broader economy and affect voting polls in the near term. The surge in gasoline and diesel prices at pumps nationwide doesn't appear to be a concern for President...
Energy
Crude Oil explodes higher as Strait of Hormuz crisis deepens
WTI crude oil surged about 11% on Friday, breaching above $87.00, its highest level since October 2023, in a session dominated by a single massive bullish candle that dwarfed every session of the past three months.
Energy
US Drillers Add Oil Rigs as WTI Jumps 14%
The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday, bringing the total rig count in the US to 551 this week, down 41 from this same time last year. The number of active oil rigs rose by 4 to 411 during the latest reporting period, according to the data. This is 75 below this same time last year. The number of gas sunk by 2, reaching 132, which is 31 more than this time last year. The...
Energy
Reliance Industries Pivots Back to Russian Oil with U.S. Waiver
India’s largest private refiner, Reliance Industries, is sounding the market for buying Russian crude, an anonymous source told Bloomberg on Friday, after the United States on Thursday issued a temporary one-month license to India allowing it to purchase Russia-origin crude loaded on vessels before or on March 5. Even before the waiver was issued, India was considering returning to buying Russian crude amassed in floating storage in Asia as the war in Iran and Tehran’s retaliatory strikes in...