oil market Archives - Panorama Insurance Brokers

Oil slips as rising infections trigger demand concerns

(Reuters) Oil prices were lower on Monday as rising coronavirus infections in India and other countries prompted concerns that stronger measures to contain the pandemic will hit economic activity, along with demand for commodities such as crude. Brent crude was down 17 cents, or 0.3%, at $66.60 a barrel by 0643 GMT, after rising 6%… Read More

WoodMac sees US$10 Brent oil coming, majors facing decline on scale never before seen

The action to achieve Paris climate goals will upend oil and gas prices. Under consultancy group Wood Mackenzie’s Accelerated Energy Transition Scenario (AET-2), all National and International Oil Companies face decline, and the sector will see asset impairments and bankruptcy or restructuring on a scale far greater than that of 2020. “If we move to… Read More

Crude oil futures edge higher, Brent pushes past $65

(S&P Global Platts) Crude oil futures edged higher during mid-morning trade in Asia March 30 as optimism over the OPEC+ coalition persisting with its supply cuts and expectations of increased downstream products demand supported the market, although a stronger US dollar limited the upside. At 10:49 am Singapore time (0249 GMT), the ICE Brent May… Read More

Recovery of up to 1 million bpd of oil at risk due to vaccination hiccups

The vaccine distribution cycle was not expected to be perfect, but the recent spike in cases in Europe, which some are calling the third wave, is not being met with a brigade of vaccines, but with vaccine skepticism instead. Rystad Energy has modeled the impact of the possibility of extended vaccination campaign hick-ups and has… Read More

Crude oil futures surge, ICE Brent May contract up almost 2%

(S&P Global Platts) Crude oil futures surged during the mid-morning trade in Asia March 1, with the oil market reversing the previous session’s losses as risk-on sentiment gripped the markets following the US House of Representatives’ approval of further US fiscal relief, even as traders continued to eye the upcoming OPEC+ meeting. At 10:44 am… Read More

Is the world heading for a shortfall in global oil supply?

By Dean Foreman, Chief Economist at American Petroleum Institute Dean Foreman It’s possible we could be headed for a shortfall in global oil supply as soon as next year – pretty remarkable considering where oil demand was last spring, with economies slowing under the weight of the pandemic. Based on projected rising demand, the natural production… Read More