By Anjana Anil (Reuters) -Oil prices are expected to hold almost steady this year despite mounting supply from both OPEC+ and non-OPEC producers, with concerns about a potential glut tempered by uncertainty over Russian output, a Reuters poll showed on Tuesday. A survey of 32 economists and analysts conducted in September forecasts Brent crude will average $67.61 per barrel in 2025, just 4 cents below last month’s forecast. Brent, which was at $67.22 early on Tuesday, has averaged around $69.90 so far t ...

November WTI crude oil (CLX25) on Friday closed up +0.74 (+1.14%), and November RBOB gasoline (RBX25) closed up +0.0341 (+1.74%). Crude oil and gasoline prices rallied sharply on Friday, with crude posting a 1.75-month high.  Concerns over crude supplies from Russia are boosting oil prices as President Trump presses countries to stop buying Russian crude in an attempt to push Russia to end its war in Ukraine.  Friday's weaker dollar was also bullish for crude prices, along with the better-than-expected US ...

The current situation, combined with increased geopolitical risks and strong global demand, suggests a potential shift towards a bullish environment. Even OPEC+'s theoretical production and export increases may not be enough to mitigate this shift, or in some cases, may not be sufficient at all. This potential for a bullish market should prompt all market participants to adopt preparedness and strategic planning.While most energy analysts are still obsessed with OPEC, US shale, or Israel’s operations in Gaz ...

BELGRADE (Reuters) -Serbia has ample crude oil and fuel in storage to meet demand in the short term but U.S. sanctions set to come into force on October 1 cast a shadow over the landlocked Balkan nation's future energy security, sources told Reuters on Friday. Russian-owned oil company NIS said earlier it had secured adequate crude and fuel stocks after Serbian President Aleksandar Vucic confirmed that the U.S. would not extend further a waiver for sanctions first announced in January. NIS did not disclo ...

By Erwin Seba HOUSTON (Reuters) -Oil prices rose on Friday as Ukraine's drone attacks on Russia's energy infrastructure cut the country's fuel exports. Brent futures settled at $70.13 a barrel, up 71 cents, or 1.02%. U.S. West Texas Intermediate (WTI) crude finished at $65.72 a barrel, gaining 74 cents, or 1.14%. Both benchmarks are set to register their biggest increases since mid-June. "Markets continued to be focused on the situation between Russia and Ukraine," said John Kilduff, partner with Again ...

I think it's been a a tyranny of about 25 years of trying to get the refining business to leave California. Um, they've been putting in regulations and bureaucracy and taxes and and programs to push us out of the out of the state. California has spent years, really decades, going after the fossil fuel business in the name of environmentalism. And it's a lie. saying it was planning the state a clean energy future when it was all lon the result refinery closures that's in the last 30 some odd years an industr ...

I last wrote about crude oil on Barchart on August 14, where I concluded: Crude oil is leaning lower in August 2025, with the odds of a challenge to the 2025 lows rising. However, the volatile Middle East could turn the bear into a bull in the blink of an eye. Trading in crude oil rather than investing, could be optimal over the coming weeks and months. The August 15 meeting between Presidents Trump and Putin could cause significant price volatility in the crude oil market.   The nearby November NYMEX cr ...

By Nicole Jao NEW YORK (Reuters) -Oil prices steadied on Thursday after hitting a seven-week high in the previous session as Russia moved to restrict fuel exports until the end of the year, but the gains were limited by new U.S. economic data that tempered optimism around further interest rate cuts. Brent futures settled 11 cents, or 0.16%, higher at $69.42 a barrel while U.S. West Texas Intermediate futures lost 1 cent, or 0.02%, to $64.98. Both benchmarks gained 2.5% on Wednesday to reach their highes ...

Oil and energy stocks are experiencing a notable surge, with crude prices rising further above $60 a barrel in the last few trading sessions.The momentum in the commodity price has been driven by a mix of supply constraints, geopolitical tensions, and various market dynamics.On the supply side, OPEC+ has been gradually unwinding previous production cuts, limiting supply growth as demand continues to recover from the pandemic. Further impacting supply have been sanctions imposed by the U.S. government on Rus ...

Ukraine has stepped up its attacks on Russian refineries and oil infrastructure, which is bullish for crude prices as it curbs Russian crude exports and tightens global oil supplies. Last Thursday, Ukraine attacked Russia's Salavat and Volograd oil refineries, halting around 300,000 bpd of refining capacity. Last Tuesday, Russia's Transneft Pipeline, which handles more than 80% of the country's oil, restricted the ability to store crude. Also, the Kirishi refinery, one of Russia's biggest refineries that ha ...