Wednesday, December 4, 2024

Hot Commodity in the Shale Boom: Truckers

From The Wall Street Journal Santiago Rivera earns around six figures hauling water in America’s hottest oil field. He was at a truck stop in Midland, Texas, last month when a man in a gray polo shirt walked up and offered him more. “How much are you making an hour?” the man asked. He promised a 25% raise on the

Analysts have been publicly claiming that a drop in the value of the U.S. dollar is coming. Of course, this has implications for oil - Oil & Gas 360

Citigroup Economist Sees Oil Forcing an Inflation Surprise

From Bloomberg  Bank says central banks may ignore acceleration Economist says markets underestimating size of surprise The recent surge in the price of oil is set to propel global inflation faster than historically and by more than investors are anticipating, in part because key central banks are unlikely to respond by tightening monetary policy, according to Citigroup Inc. In a

OPEC

Brent Gains Pegged to Venezuela Export Cuts, OPEC Production Levels

From Reuters NEW YORK (Reuters) – Global benchmark Brent crude surged nearly $2 a barrel on Thursday, lifted by concern about a steep drop in exports from Venezuela and worries OPEC may not raise production at its meeting this month. Brent crude futures LCOc1 settled up $1.96 a barrel, or 2.6 percent at $77.32. U.S. West Texas Intermediate (WTI) crude

U.S. Restricts Exports of Oil Diluents to Venezuela - Oil & Gas 360

Oil Prices Diverge as Venezuelan Output Approaches Crisis Mode

From The Wall Street Journal The price of Brent crude rose Wednesday after output from OPEC member Venezuela came into renewed doubt, enhancing worries over global supply. Brent crude, the global benchmark, rose 0.3% to $75.62 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures slipped 0.3% at $65.35 a barrel. The