Natural Gas In The Limelight As Power Demand Soars

While oil markets remain incredibly tight, it is natural gas markets that are making headlines in energy markets this week. Russia is sending less natural gas to European countries and Northeast Asian nations are seeing power demand surge amid intense heatwaves. Chart of the Week – Russian pipeline gas supplies have dropped to their lowest … Read more

Why Are China’s Fuel Refinery Rates So Low?

Fuel prices in Asia are going through the roof as demand for travel bounced back from the pandemic depression. Yet refining rates have not bounced back in sync, especially in China. And it might be deliberate. Reuters’ Clyde Russell wrote in a recent column that China’s refined oil product exports this May, at 3.27 million … Read more

Oil Supply Fears Mount As OPEC Underforms

Reader Update: Whether you are new to the oil and gas industry or an energy market veteran, you will regret not signing up for Global Energy Alert. Oilprice.com’s premium newsletter provides everything from geopolitical analysis to trading analysis, all for less than a cup of coffee per week. Chart of the Week – As national … Read more

The Oil Price Rally Shows No Sign Of Slowing

The US national average for gasoline hit $5 per gallon last week, the highest ever. Brent crude is trading at $120 per barrel and is unlikely to subside much further as China comes back in full force. And according to the UAE’s Energy Minister, we haven’t even reached the peak—or anywhere near it. “I’ve never … Read more

Friday’s analyst upgrades and downgrades

Inside the Market’s roundup of some of today’s key analyst actions Saputo Inc. SAP-T continues to face serious pressures in the form of labor shortages, supply chain disruptions, and inflation, but the stage for a recovery over the coming year, Scotia Capital analyst Patricia Baker wrote. The company closed the books on a difficult fiscal … Read more

Lumber prices are falling, but don’t expect prepandemic level markdowns for your next DIY project

Kerrisdale Lumber employee Max Swan at one of their storage yards in Vancouver British Columbia, June 6, 2022.Jimmy Jeong/Jimmy Jeong/www.jimmyshoots.com Consumers will likely see cheaper lumber this summer but shouldn’t expect prepandemic prices, as many retailers will still have leftover stock purchased at higher prices and producers are avoiding flooding the market. Wholesale lumber prices … Read more

How Close Are We To Peak Oil Demand?

Two years ago, British oil and gas supermajor BP Plc. (NYSE:BP) sent shockwaves through the energy markets after it declared that the world was already past Peak Oil demand. In the company’s 2020 Energy Outlookchief executive Bernard Looney pledged that BP would increase its renewables spending twentyfold to $5 billion a year by 2030 and … Read more

Elon Musk’s warning could be auto industry’s ‘canary in the coal mine’ moment

Tesla chief executive Elon Musk’s “super bad feeling” about the economy could be the auto industry’s “canary in the coal mine” moment, signaling a recession for an industry whose bosses have shown no signs of concern. Mr. Musk said the electric-car maker needed to cut about 10 per cent of its work force in an … Read more