Peak Oil Review 20 May 2019

By Tom Whipple, Peak-Oil.org

The struggle between fears that the US sanctions will lead to an oil shortage and the intensifying US-China trade war will lead to a depression continued last week.

Peak Oil Review: 14 May 2019

By Tom Whipple, Peak-Oil.org

Uncertainty was the watchword of the week as oil traders juggled the faltering US/China trade deal, increasing tensions in the Middle East, and falling US crude stocks.  

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: 22 April 2019

By Tom Whipple, Peak-Oil.org

Oil prices continued to climb slowly last week with Brent closing just below $72 a barrel, a new high for the year, and New York futures closed $8 a barrel lower at $64. 

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.