After a relentless four-week climb, U.S. national average gasoline prices have declined, falling 5.4 cents from a week ago to $3.86 per gallon on Monday.
With less than two months to go before a ban on Russian crude oil imports comes into effect, EU countries have yet to diversify more than half of their pre-war import levels away from Russia.
We will struggle to avoid a gas emergency this winter without at least 20% savings in private households, businesses and industry.
Shale will likely tip over in five years, and US production will be down 20 to 30% quickly. When it does—this feels like watching the steam roller scene in Austin Powers.
OPEC+ is now producing below its targets by a record 3.58 million barrels per day – about 3.5% of global demand – highlighting underlying tight supply in the oil market…
Bank of America Securities analysts laid out cases in a recent note to clients for oil prices to both rise and fall by as much as $20 over the next few months.
Limited global LNG supplies could be “really, really tight this winter.”
The U.S. average price for regular unleaded gasoline has fallen for 11 consecutive weeks to $3.81 a gallon, according to GasBuddy data.
Saudi Energy Minister Prince Abdulaziz bin Salman said ‘cutting production at any time’ was an option for OPEC+…
Natural gas markets in Europe jumped 6% on Wednesday to €236 a megawatt hour, taking the week’s gains so far to 14%.
“The average US price of retail gasoline has fallen by more than USc 80 per gallon (16%) since the mid-June peak, which should support demand in August…”
U.S. distillate consumption has begun to fall in line with the deceleration in manufacturing activity.