The Energy Bulletin Weekly 13 July 2020

By Tom Whipple, Steve Andrews, The Energy Bulletin

Tom Whipple and Steve Andrews, Editors Quote of the Week “Hotter temperatures by 2100 could slash global economic output by more than 20%, accordin…

The Energy Bulletin Weekly 6 July 2020

By Tom Whipple, Steve Andrews, The Energy Bulletin

Crude hit four-month highs on Thursday, aided by a tightening market and a better-than-expected US jobs report. The caveat is that the jobs survey took place before the latest Covid-19 wave and the associated business closures.

Energy Bulletin Weekly 29 June 2020

By Tom Whipple, Steve Andrews, The Energy Bulletin

Oil posted its second weekly loss for the month as a surge in US coronavirus cases casts doubts on the market’s prospects for recovery. New York futures closed at $38 and London at $41 on Friday.

The Energy Bulletin Weekly 22 June 2020

By Tom Whipple, Steve Andrews, The Energy Bulletin

New York oil futures rose 2.3 percent on Friday to close at $39.75, the highest level since March 6th. The 9.6 percent increase for the week marks the seventh gain in the last eight weeks.

The Energy Bulletin Weekly: 15 June 2020

By Tom Whipple, Steve Andrews, The Energy Bulletin

Oil futures fell by some 8 percent last Thursday, before closing out a quiet Friday at $36.26 in New York and $38.73 in London. Over the previous six weeks, prices have been climbing due to the OPEC+ and US shale production cuts, and the easing of pandemic lockdowns in China, Europe, and North America.

The Energy Bulletin Weekly: 8 June 2020

By Tom Whipple, Steve Andrews, The Energy Bulletin

Oil prices posted a sixth weekly gain in London, more than doubling to $42.30 a barrel since April as demand recovers from the lockdowns. NY futures closed at 39.55 on Friday, up $2.14 for the day.

The Energy Bulletin Weekly 2 June 2020

By Tom Whipple, Steve Andrews, The Energy Bulletin

Futures were volatile last week with prices bouncing between $31 and $35 a barrel in response to the latest news. Oil closed out May on Friday with a record monthly gain of 88 percent on hopes demand for oil would continue to rise as economies reopen and crude production continues to fall.

The Energy Bulletin Weekly 26 May 2020

By Tom Whipple, Steve Andrews, The Energy Bulletin

The four-week run of climbing crude prices continued through Wednesday, but prices fell on Thursday and Friday as doubts arose over the prospects for China’s economy and rising tensions with the US over the virus, the trade deal, and Hong Kong.

Energy Bulletin Weekly: 11 May 2020

By Tom Whipple, Steve Andrews, The Energy Bulletin

Oil posted its first back-to-back weekly gain since February amid optimism that production cuts are beginning to eat into the massive supply glut. Futures in New York climbed 25 percent to circa $25 and $31 in London.

So We’re All in This Together…Really? What About Big Oil?

By Charlotte Dennett, CounterPunch

So what are we make of the fact that the price of oil tanked to below zero per barrel on April 22, the greatest drop in history? The price has gone up slightly since then, hovering around $16 a barrel on April 25th, but it is still severely depressed. Who will suffer from this? And perhaps more importantly, who will gain?

The Energy Bulletin Weekly: 4 May 2020

By Tom Whipple, Steve Andrews, The Energy Bulletin

Crude posted its first weekly gain in a month as global production cuts start to lift physical markets. Futures in New York rose 17 percent last week to close at $19.78 in NY and $26.44 in London.

For Oil and Its Dependents, It’s Code Blue

By Andrew Nikiforuk, The Tyee

If oil has been laid low by the coronavirus, then the nations whose economies most depend on it might soon be on ventilators. By any prognosis the great oil price collapse of 2020 has pushed the world’s most volatile commodity into Code Blue.