An incredible event took place this week: A Russian tanker docked at the Port of Jiangsu on China's east-central coast, offloading its cargo of liquefied natural gas from the Yamal LNG plant in Russia's north.
Back in late March, Goldman stunned commodity traders when its energy strategist Jeffrey Currie predicted that landlocked oil (such as WTI, and unlike Brent) could trade negative in the very near future as a result of the massive demand plunge in oil
Unlike other sustainable fuels that require vehicle modifications, Prometheus' gasoline is designed to work seamlessly with existing internal combustion engines, allowing buyers to simply choose it at the pump, fill up and go.
Saudi Arabia and Russia, the world's largest oil producers, are expected to extend their historic output cuts of 9.7 million bpd into July. It appears most members will comply with output cuts as a move to raise oil prices.
Smaller countries that have taken out billions of dollars in loans that they have promised to pay back in oil are starting to fall behind on their payments.
The reduction in global fuel demand has led to the fact that the number of oil rigs in the US has dropped to a historic low, Reuters reported, citing data from Baker Hughes.
Regular readers of RI will be familiar with James Howard Kunstler's twice weekly column on political events.
This Oil Giant Provides 1/5th of Russia's Tax Revenue, Is Close With China - Putin Goes All Out to Support It
Last weekend we showed that as oil storage on land was rapidly filling up, a familiar sight was seen off the coast of Asia's oil hub in Singapore: a record surge in tankers on anchor used as seaborne storage, and taking advantage of the supercontan
For the 7th straight week, the US oil rig count has plunged (down 53 to 325). This is the biggest drop since the 2015 collapse and the same total oil rig count first seen in 2006...
Something unusual is happening in the gold market.
The energy industry is truly reeling.
The full story of President Trump's intervening in the Russia-Saudi price war which sent oil prices plunging to historic lows has been revealed in a new explosive report. Trump's pressure resulted in the surprise April 12 unprecedented OPEC+ producti
No gasoline means no crops. No crops means no food. People in Venezuela will die by the thousands unless extreme measures are taken.
"We Are Moving Into The End-Game": 27 Tankers Anchored Off California, Hundreds Off Singapore As Oil Industry Shuts Down
Crude utterly collapsed. 300% in a single trading day. Sellers paid $37.63 to buyers.
27 Tankers Anchored Off California, Hundreds Off Singapore As Oil Industry Shuts Down
From the very beginning I've been a staunch critic of President Trump's "Energy Dominance" policy. And I was so for a myriad of reasons, but mostly because it was stupid.
Caves, Cars, & Clogged Pipelines - Oil Traders Turn To "Oddball Storage Locations" As Demand Hits 30-Year Lows
Back on March 17, as oil was plunging to levels not seen since the presidency of George W. Bush, we published a shocking forecast by Mizuho's Paul Sankey who stunned oil traders with what at the time was an insane prediction: "crude prices could go
The Great Lockdown continues to turn markets on their head.
OIL BELOW $0!!! BANK CRASH NEXT? Bitcoin Halving - Programmer explains
The coronavirus lockdown has caused most US department stores to shut, threatening their survival. But even without the impact of virus, many retailers would still eventually have collapsed, a former Fed insider believes.
Crude prices have collapsed, spawning a litany of memes celebrating the fact that an empty barrel of oil is more expensive than a full one.
Luke and Tim dive into the INSANE news that the price of oil has plummeted, but what does that mean for the broader economy? And how will it impact you?
oil -- Last month, analyst Paul Sankey warned that "(o)il prices can go negative" in today's environment. On March 18, he wrote:
Josh Sigurdson, Tim Picciott, and Colin Cantrell discuss negative oil, economy, world news...
After a relatively drama-free weekend, futures have started off the new week lower by about 0.4%, trading at 2850, down 20 points from Friday's CTA inspired and momentum-driven meltup which appears to be reversing as algos realize they have frontrun
Asian Oil Trading Legend Files For Bankruptcy After Hiding $800 Million In Losses, Secretly Selling Loan Collateral
I am old enough to remember when high energy prices were thought to be a very bad thing for the U.S. economy. As a small child, I remember my mother overreacting to Jimmy Carter's "energy crisis" speech by shutting off all the heat in our house excep