Oil, Fuel Contracts Break Records on Surging Prices
Oil and fuel futures and options contracts traded on Monday hit an all-time high as traders rushed to lock in surging benchmark prices, Reuters has reported, citing ICE data. The…
JP Morgan Warns of Catastrophic Oil Supply Loss from Middle East War
The war in Iran could result in production losses of over 3 million barrels daily by the end of the week, with those losses potentially topping 4 million barrels daily…
Analyst Outlines 2 Potential Scenarios for Conflict
In a statement sent to Rigzone on Tuesday, EY-Parthenon Chief Economist Gregory Daco outlined two potential scenarios for the ongoing Middle East conflict, with oil prices rising in both. Daco’s…
US Crude Oil Inventories Continue to Build While Gasoline Draws Down
The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 5.6 million barrels in the week ending February 27, after adding 11.4 million barrels…
