Oil options traders have turned more bearish than when prices plunged back in 2014. The premiums they’re paying for bearish put options over bullish calls over the next 12 months has reached…
OPEC’s Worst Nightmare: Permian Basin About to Pump a Lot More
The map lays out OPEC’s nightmare in graphic form. An infestation of dots, thousands of them, represent oil wells in the Permian basin of West Texas and a slice of New Mexico….
US says economy to be hurt by climate change denied by Trump
The Trump administration just published a major report documenting the advance of climate change, weeks earlier than expected and on a day many Americans are occupied with family and holiday shopping. The…
The slow bleed: Dubai is losing its shine as a Middle East haven
Bloomberg/Dubai Ever since the first gleaming towers sprang out of the desert, Dubai has gotten used to rapid change. It’s no stranger to boom-and-bust. What’s happening now is different: a slow bleed….
Norwegian oil, gas plants shut after tanker, frigate collide (Update)
An oil tanker and a Norwegian navy frigate collided off Norway‘s west coast on Thursday, injuring eight people and triggering the shutdown of a North Sea crude export terminal, Norway‘s largest gas processing plant…
Russia Looks to Hydrogen as Way to Make Gas Greener for Europe
Russia is looking at how to develop a market for hydrogen in Europe, a move that would help maintain demand for one of its primary exports as governments everywhere work to cut…
Brent oil curve reveals silver lining as supply woes lurk
For oil bulls who were disheartened by Brent crude’s dire plunge of about 25% over the past few weeks, its forward curve off ers a silver lining, according to Bloomberg. Prices of…
Oil short-selling jumps in record streak as faith in OPEC wanes
NEW YORK (Bloomberg) — Hedge funds are betting OPEC will struggle to reverse oil’s precipitous plunge. Their combined wagers against West Texas Intermediate and Brent crude soared for a seventh straight week,…
Russia wait-and-see stance on Opec+ cuts shows gap with Saudi
Bloomberg/Moscow Russia’s energy minister insisted the country and its allies in Opec need to watch the oil market in the coming weeks before making any decisions to cut output. “We need to…
Erdogan, Putin celebrate key step in Russia-Turkey gas pipeline
AFP Istanbul Turkish President Recep Tayyip Erdogan and Russian counterpart Vladimir Putin on Monday marked the completion of the offshore phase of a gas pipeline underneath the Black Sea, the latest sign…