Link

This Week in Petroleum: Oil market volatility is at an all-time high


  • With falling demand and increasing supply, the front-month price of the U.S. benchmark crude oil West Texas Intermediate (WTI) fell from a year-to-date high closing price of $63.27 per barrel (b) on January 6 to a year-to-date low of $20.37/b on March 18 (Figure 1), the lowest nominal crude oil price since February 2002.
  • Typically, when correlations between WTI and other asset classes increase, it suggests that expectations of future economic growth—rather than issues specific to crude oil markets— tend to be the primary drivers of price formation.
  • As of March 23, 2020, residential heating oil prices averaged $2.45 per gallon, almost 15 cents per gallon below last week's price and nearly 77 cents per gallon lower than last year's price at this time.



New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

Visit original link

https://nrgedge.net/article/1585280304-this-week-i...

More items from huishan


U.S. natural gas production, consumption, and exports set new records in 2019

Chevron exited Malampaya in November 2019, as part of an asset review to re-focus on shale, selling its 45% stake to local player Phoenix Petroleum that is part of the Udenna conglomerate. The natural candidate to acquire Shell's departing stake would be PNOC, which is already 10% owner of Malamp ...

Hui Shan


Posted 1 month agoLink > ProductionsupplyConsumption +7

Libya & OPEC’s Quota

Access to key oilfields and key port facilities has changed hands constantly over the past few years, resulting in a start-stop rhythm that has sapped productivity and, more than once, forced Libya's National Oil Corporation (NOC) to issue force majeure on its exports. The deal, brokered in Mosco ...

Hui Shan


Posted 1 month agoLink > Oil and Gas Industryupstreamnatural gas +8

Average U.S. construction costs for solar and wind generation continue to fall

The incident that hardened the hearts of Germany , which had become increasingly isolated over the issue of the Nord Stream 2 natural gas pipeline that connects Russia to Germany through the Baltic Sea, was the hospitalisation of Russian opposition leader Alexei Navalny. Championed by former Germ ...

Hui Shan


Posted 2 months agoLink > generationSolarElectricity +5

Fossil fuels account for the largest share of U.S. energy production and consumption

Aramco is still 98% owned by the Saudi government, and the federal coffers, which run everything from the national airline to plans to open up for official tourism are dependent on the dividends that Aramco pays. With dry season in the oil and gas world setting in, some of these projects must now ...

Hui Shan


Posted 2 months agoLink > ProductionsupplyConsumption +12
All posts from huishan