What's Affecting Oil Prices This Week (June 24, 2019)?
Crude oil got another boost last week. Brent rose $1.35/bbl last week to average $62.92/bbl driven in large part by geopolitical concerns.
June 24, 2019
Crude Oil
US Exports Take Iran’s Place In India’s Oil Market
Sanctions forced Indian importers to seek other suppliers.
June 24, 2019
Analyst: ‘We Need Exports To Keep Going’
Booming oil and gas production, particularly from the Permian Basin, has made the industry reliant on foreign markets to continue its growth.
June 24, 2019
Report: Planned Red Oak Pipeline Will Contribute To Crude Overbuild
Bernstein Midstream speculates that the additional pipeline projects will bring the 2021 WTI-Brent differentials to less than $4 a barrel, which is way below the current curve of $6.50.
June 21, 2019
US Refiner Phillips 66 Enters Offshore Oil Export Race
The offshore port would provide an outlet for oil coming from recently proposed Liberty and Red Oak pipeline joint ventures that will start in early 2021. Phillips will operate the $1.6 billion Liberty pipeline and help finance the $2.5 billion Red Oak pipeline.
June 20, 2019
Frac Spread: Ethane Anxious To Get Cracking
Mont Belvieu price sags to a 40-month low as NGL slump continues.
June 20, 2019
Oil Jumps 3% As Iran Shoots Down US Drone In Gulf
Expectations of a rate cut by the Fed have also propped up the price.
June 20, 2019
Sources: OPEC+ May Meet July 10-12
Cartel will discuss whether to maintain its oil production cut of 1.2 million bbl/d.
June 18, 2019
What's Affecting Oil Prices This Week (June 17, 2019)?
Brent fell $0.19/bbl last week to average $61.57/bbl but with significant intra-week volatility.
June 17, 2019
Iran, Russia Talks Raise Hopes Of Progress On OPEC+ Meeting Date
Russia wants to move talks to avoid conflict with G20 meetings in Japan.
June 17, 2019