Peak Oil Review: 6 May 2019
By Tom Whipple, Steve Andrews, Peak-Oil.org
After climbing more than $20 a barrel from $52 in late December to nearly $75 on April 23rd, prices have fallen back so that Brent closed at $70.85 on Friday.
Peak Oil Review: 29 April 2019
By Tom Whipple, Steve Andrews, Peak-Oil.org
Last week began with oil prices continuing to climb on concerns that tightening sanctions on Iran would cut oil supplies. Brent crude touched $75 for a short time after Moscow announced that it was halting some crude shipments to Europe due to contaminated pipelines.
Peak Oil Review: 15 April 2019
By Tom Whipple, Steve Andrews, Peak-Oil.org
Oil prices continued to creep up last week closing out at $71.55 in London and $63.89 in New York, making the sixth consecutive week of gains.
Peak Oil Review: 8 April 2019
By Tom Whipple, Steve Andrews, Peak-Oil.org
London’s oil prices broke through the $70 a barrel barrier last week to close at $70.34. New York futures were some $7 behind to close at $63.
Peak Oil Review 1 April 2019
By Tom Whipple, Steve Andrews, Peak-Oil.org
Prices have climbed steadily for the last three months closing on Friday above $60 a barrel in New York and $67 in London. The combination of slowing US shale oil drilling and the Venezuela, Iran, and the OPEC+ situations continue to outweigh the bad economic news that may someday lower demand.
Peak Oil Review 25 March 2019
By Tom Whipple, Steve Andrews, Peak-Oil.org
Prices climbed for the first three trading days last week on the perception that oil supplies were tightening due to the OPEC+ cuts, the US sanctions on Iran and Venezuela, and a 9.6-million-barrel decline in US crude stocks.
Peak Oil Review: 18 March 2019
By Tom Whipple, Steve Andrews, Peak-Oil.org
The struggle between a weakening global economy and the shrinking availability of oil supplies seems to be tipping in favor of the latter as oil prices slowly make their way higher.
Peak Oil Review 4 March 2019
By Tom Whipple, Steve Andrews, Peak-Oil.org
The struggle between lower crude output and the prospects for a global economic setback that could reduce the demand for oil continued last week. Prices rose on bullish news early in the week and then fell to close only slightly higher for the week at $55.80 in New York and $65.07 in London.