Natural-Gas Prices Spike as Brutal Winter Storm Hits Swaths of the U.S.

Natural-Gas Prices Spike as Brutal Winter Storm Hits Swaths of the U.S.

Natural-gas and gasoline futures soared on Tuesday, as a swath of the U.S. was thrown into subzero temperatures due to a winter storm. March natural-gas futures climbed over 6% to $3.093 per million British thermal units, while March gasoline prices jumped 4% to $1.767 a gallon. March heating-oil futures shot up nearly 3% to $1.8235 […]

Oil Prices Rise As Producers Stick To Supply Curbs

Oil Prices Rise As Producers Stick To Supply Curbs

Oil soared toward $55 a barrel in New York, touching its highest level in a year as the virus-recovery rally continued. West Texas Intermediate futures rose 2.4%, while the global Brent benchmark came back within sight of $60. Gains in broader markets spurred crude, while a weaker U.S. dollar also buoyed commodities priced in the […]

Why Oil Will Keep Rising In 2021

Why Oil Will Keep Rising In 2021

We have seen strong moves higher in the key crude oil benchmarks-WTI, and Brent, in the last several months. This was initiated by the advent of positive news on the Covid front that the vaccines in development were extremely efficacious, promising an endpoint to the spread of the virus. This upward trend in crude was […]

Energy sector poised for rebound in 2021, Deloitte predicts

Energy sector poised for rebound in 2021, Deloitte predicts

A report from Deloitte Canada says there’s reason to believe the energy sector is poised for a rebound in 2021 as demand starts to exceed supply.  Deloitte’s fourth quarter oil and gas forecast says following a challenging 2020, during which the pandemic drove down demand for crude, curtailed production and storage levels soared, the coming […]

Pretty soon, we may need more oil than we can produce

Pretty soon, we may need more oil than we can produce

The oil industry has always been a boom-and-bust business, and 2020 will go down as the biggest bust in the industry’s history thanks to the double whammy of the coronavirus pandemic and the spring price war between Saudi Arabia and Russia.Months of supply cuts and underinvestment are about to smack headlong into resurgent demand as the arrival of a […]