Brent Crude prices are not expected to reach $100 per barrel in 2023 unless a major geopolitical event rattles markets again, according to JPMorgan. The OPEC+ alliance could add 400,000 barrels per day (bpd) to supply this year, and Russian exports could recover by the middle of 2023, JPMorgan said …
Read More »JPMorgan Sees Stratospheric $380 Oil on Worst-Case Russian Cut
Global oil prices could reach a “stratospheric” $380 a barrel if US and European penalties prompt Russia to inflict retaliatory crude-output cuts, JPMorgan Chase & Co. analysts warned. The Group of Seven nations are hammering out a complicated mechanism to cap the price fetched by Russian oil in a bid …
Read More »Oil could See its Biggest Supply Shock since 1973
The global oil market was tight even before the Russian invasion of Ukraine, but Putin’s war and its consequences on Russian crude supply and energy prices have the potential to hurl the market into a major supply shock comparable with the 1973 Arab oil embargo. Oil stocks in major oil-consuming …
Read More »Declining U.S. Petroleum Inventories Push Oil Prices Higher
Despite a crude oil inventory build in the latest EIA report, U.S. commercial petroleum stocks have declined in most of the weeks in the past year and a half, falling below seasonal averages for the past five years and even below the five-year average before the pandemic. The continuously declining …
Read More »JPMorgan: Oil-Price Collapse Not a Systemic Risk to Markets
Oil may have clocked some stunning moves this week, but the systemic implications do not look so dire, according to JPMorgan Chase & Co. Moves across other asset classes look “tame” by the standards of typical recessions, despite front-month West Texas Intermediate futures falling at one point this week to …
Read More »U.S. Stocks Mostly Fall as Oil Prices Gyrate on OPEC Deal
Wall Street stocks mostly fell on Monday, April 13, ahead of major earnings reports, while the oil market gave a muted response to an historic deal by major producers to cut output. Two of the 3 major United States stock indices ended solidly lower ahead of Tuesday, April 14, when …
Read More »US-China Trade Deal to Keep Oil Prices at $60 Range
JP Morgan Research expects the oil price to peak in the first three months of 2020.
Read More »Trump`s Turkey Tariffs Rise to Hit Kinder Morgan Gas Pipeline Project
Trump cited the devaluation of the Turkish lira in his Friday decision to double the steel tariffs for imports from Turkey.
Read More »