ENERGY

Authored by Tsvetana Paraskova via OilPrice.com,

Global gasoline consumption hit a record 26.9 million barrels per day (bpd) this year, exceeding the 2019 peak and defying estimates that the last pre-pandemic year was the time when gasoline demand worldwide would peak. 

The data, reported by Bloomberg Opinion columnist Javier Blas, shows the latest figures from the International Energy Agency (IEA). The same agency, which has been strongly advocating for a faster energy (more…)

Authored by Simon Watkins via OilPrice.com,

• Due to the exceptional efforts of U.S. Secretary of State, Antony Blinken, and his team, the Israel-Hamas War has (more…)

Oil prices have extended their losses from yesterday with WTI back below $74 following last night's unexpected crude inventory build reported by API. Technicals are also weighing on crude prices after WTI triggered a 'death cross'…

Crude had risen about 8% since its December low as Houthi attacks on vessels in the Red Sea forced tankers and other ships to divert on longer voyages, boosting costs.

Despite a US-led task force to protect the key waterway, (more…)