Thursday, January 30, 2025
Analysis: Spot crude surges while futures slip; rate hikes spook speculators- oil and gas 360

Analysis: Spot crude surges while futures slip; rate hikes spook speculators

Reuters HOUSTON/NEW YORK – Prices for spot crude in much of the world are rising on strong demand and a supply crunch, but in the oil futures market, worries of a recession have kept a lid on values. Oil futures could be oversold and ripe for a reversal if global demand keeps running at the current rate of about 100

Exxon Mobil CEO cautions against an abrupt energy transition, warning underinvestment leads to high gas prices

CNBC Exxon Mobil CEO Darren Woods warns that an abrupt transition to renewable energy will cause society to “pay a high price.”   The national average price for a gallon of gasoline is currently nearly $5, causing strife for all drivers, according to AAA. In an interview with CNBC’s David Faber, Woods cautioned against a government policy that fails to balance the

Oil prices edge higher amid G7 talks on new Russian sanctions- oil and gas 360

Oil prices edge higher amid G7 talks on new Russian sanctions

CNBC Oil prices edged higher on Monday in a volatile session as investors waited for any moves against Russian oil and gas exports that might come out of a meeting of leaders of the Group of Seven (G7) nations in Germany. Brent crude futures rose $1.12, or 1%, to $114.28 a barrel, while U.S. West Texas Intermediate crude was up $1.33, or

Permian Basin facing new environmental rules that could curb drilling- oil and gas 360

Permian Basin facing new environmental rules that could curb drilling

World Oil (Bloomberg) — The Biden administration is considering triggering tougher anti-smog requirements that could curb drilling across parts of the Permian Basin, the world’s biggest oil field that straddles Texas and New Mexico. The Environmental Protection Agency is weighing labeling parts of the Permian Basin as violating federal air quality standards for ozone — a designation that would force state regulators to