Unless the bank crisis proves a tipping point, all the fundamentals still point to $100 crude.
Michael Warren
Oil Markets One Year On from the Ukraine Shock
Tuesday, March 7, 2023
So far so good – but Europe’s diesel price-cap could change everything as it starts to bite.
Crack Spreads Point North for Crude Prices
Tuesday, February 7, 2023
Perfect storm: resurgent demand, crippled refinery capacity, a ban on Russian diesel.
Surprises of 2023 Volume 2: Oil Demand, With or Without EVs
Wednesday, January 11, 2023
Demand will surprise on the upside, while supplies are kept artificially tight
Europe: Winter of Energy Discontent
Monday, December 5, 2022
Yellen’s price caps will make no difference to Russia’s crude revenues.
It’s Official: OPEC Wants $100 Oil
Friday, September 30, 2022
After a single month of catering to Biden, Saudi is back to driving oil prices higher.
Ukraine: A Pawn in Putin’s Energy Survival Strategy
Monday, July 11, 2022
The West’s green utopia is an existential threat to fossil fuels. Countermove: get prices up.
Biden Pivots on Oil, Or At Least on Saudi Oil
Wednesday, June 22, 2022
Inflation makes strange bedfellows. Suddenly the administration is out of love with Iran.
A Very European Ban on Russian Oil. Maybe.
Monday, April 18, 2022
This could be the first global oil crisis that drives prices lower (after it drives them higher).
The Bear/Bull Case in the Russian Oil Ban
Wednesday, March 16, 2022
If Europe bans, it’s a recession. But Russia becomes a desperate oil seller. Unless...