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By EnergyNow Editorial Staff The U.S. Strategic Petroleum Reserve (SPR) is the world’s largest government-owned emergency crude oil stockpile. It was created after the 1973 Arab oil embargo to protect the United States from severe oil supply disruptions caused by wars, natural disasters, geopolitical crises, or major market shocks. The reserve is managed by the …
Reuters A $300 billion private fund designed to trigger investment into Iran is outlined in the U.S.-Iran framework agreement and more than half that sum has already been committed, a source with direct knowledge of the deal told Reuters. The fund is designed to give both sides an economic incentive to conclude a final deal, …
Analysts call for more pipeline capacity amid tightening global heavy oil market By Will Gibson Alberta’s oil sands have emerged as one of North America’s most attractive oil plays as costs rise in competing basins like the Permian in Texas, according to a recent report. The oil sands hold 177 billion barrels of proved reserves, making it the …
Goldman Sachs lowered its fourth-quarter Brent crude oil price forecast to $80 from $90 and cut its 2027 average estimate to $75 from $80, after the U.S. and Iran signed a preliminary agreement to reopen the Strait of Hormuz. Analysts at the investment bank said in a research note released late on Monday they …
Goldman Lowers Oil Price Forecasts on Deal to Reopen Strait of Hormuz Read More »
Morgan Stanley has lowered its Brent crude oil price forecast for the fourth quarter of this year by $15 per barrel to $80, after the U.S. and Iran signed a preliminary agreement to end the war in the Gulf. “From here, it likely takes several weeks for tanker flow to be restored; we see 50% …
Morgan Stanley Lowers Brent Oil Price Forecasts After US-Iran Peace Deal Read More »
Never bet against Donald Trump? The oil market appears to have made a risky wager from day one of the Iran war: The U.S. president would not allow the conflict to spiral into a full-blown economic crisis. So traders wouldn’t price one in, no matter what was happening with physical supplies. It was a risky …
TACO CONFIRMED: Oil Markets Bet Trump Would Chicken Out on Iran. They Won: Bousso Read More »
Abu Dhabi National Oil Company (ADNOC) has sold at least 30 million barrels of spot crude to Asian refiners and trading firms so far this month and offered more this week, trade sources said, boosting exports during the U.S.-Iran ceasefire. The United Arab Emirates producer sold cargoes of Das, Upper Zakum and Umm Lulu …
ADNOC Sells at Least 30 Million Barrels Crude in Supply Boost, Sources Say Read More »
By Feras Dalatey, Jonathan Saul, Dmitry Zhdannikov and Edward Carron Summary Apache shot down by Iran on June 9 was involved in ship-to-ship transfer mission Convoys sail dark with disabled transponders, spacing departures 3,000-4,000 meters apart At least 92 ships have taken part since early May DUBAI, June 16 (Reuters) – The United States military has overseen scores of …
The US is Using an Iranian Smuggling Tactic to Sneak Oil Out of the Gulf Read More »
By EnergyNow Editorial Staff The U.S. Strategic Petroleum Reserve (SPR) is the world’s largest government-owned emergency crude oil stockpile. It was created after the 1973 Arab oil embargo to protect the United States from severe oil supply disruptions caused by wars, natural disasters, geopolitical crises, or major market shocks. The reserve is managed by the …
Summary Dubai crude benchmark’s premium slips back to pre-war levels Naphtha goes into contango, diesel and fuel oil backwardation narrows Margins for transport fuels retain strength on low stocks SINGAPORE, June 16 (Reuters) – Spot premiums for crude and some refined products in Asia have fallen back to pre-war levels following a U.S.-Iran deal to …
