Today, the world’s economy is largely dependent on fossil fuels such as crude oil, and the demand for these resources often sparks political unrest, as a small number of countries control the largest reservoirs. Like any industry,supply and demandheavily affect the prices and profitability of c...
The oil and gas market dropped this week on a number of news items that seemed to hit the energy industry all at once. OPEC is increasing production, the U.S. economy may be slowing, and U.S. tariffs have become a topic once again.
What's more, Garcia said, even if Q4 results were down year over year, they "remained very strong," and CAI maintained 99.2% utilization of its container fleet. Now what Although management did not include guidance for the new year in its earnings release, Garcia said that "with utilization...
The U.S. is the largest producer of crude oil, which begs the question: why are we still paying so much? "It is because that oil is traded on a global market. So, today the price of oil per barrel is about $120. People are paying that in countries all ov...
About 160 oil tankers were sanctioned and India— a key buyer of seaborne barrels — won’t permit the ships into its ports once a wind-down period ends in March. If they stay in place under Trump, the measures have more chance of disrupting Russia’s exports of petroleum than anything...
It's on the back of further declines in global oil prices. Brent crude is down more than 1% to $63 a barrel. Analysts have spoken of a link to factory activity data out of China, which contracted at its fastest pace for 16 months. ...
The industry manufactures petroleum and renewable diesel using the same process. The difference is that one uses below-ground crude and the other uses above-ground oils. Both get refined the same way. “Renewable diesel, much like biodiesel, is derived from waste agricultural products, particularly...
“I refuse to say something is not possible when it comes to the price of a commodity,” says Brian Splitt of AgMarket.Net. “2020 saw the price of crude oil trade at -$40 per barrel, and I have been humbled by the market numerous times. So, to say we can’t see those prices...
Reviews
Drivers may see some relief with the price of crude oil falling below $100 a barrel on Tuesday, down from $123 after Russia invaded Ukraine. Prices at the pump fell by two pennies to $4.31 a gallon on Tuesday, according to AAA. "If this trend holds, it may remove some of the extrem...