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WTI Extends Losses After Bigger Than Expected Crude Build | ZeroHedge

Oil prices extended losses overnight (3rd day lower in a row) following API's report showing an unexpected crude build. Rising stocks would add to bearish headwinds for prices driven by hopes that peace (or some such variant of it) may break out in the Middle East.

Additionally, OPEC’s crude production stayed steady last month, leaving the group’s latest cutbacks incomplete.

The Organization of Petroleum Exporting Countries pumped 26.81 million barrels a day in April, about (more…)

Continue ReadingWTI Extends Losses After Bigger Than Expected Crude Build | ZeroHedge

The Four Key Reasons Why The US Will Never Stop Targeting Russia’s LNG Sector | ZeroHedge

Authored by Simon Watkins via OilPrice.com,

  • LNG has become the most important swing energy source in an increasingly insecure world.
  • Energy exports remain the foundation stone of Russia’s essentially petro-economy.
  • Russia's LNG industry is closely associated in Russia with President Vladimir Putin personally.

Perhaps even more than its targeting of Russian oil exports, the U.S. has been laser-focused on its liquefied natural gas (LNG) sector as they key area (more…)

Continue ReadingThe Four Key Reasons Why The US Will Never Stop Targeting Russia’s LNG Sector | ZeroHedge