One of the keys to pricing is whether global conflicts curtail the flow of oil. They have not.
For the upcoming week, Stratas Advisors expect oil prices will move sideways with more downside risk than upside potential.
President-elect Donald Trump’s policies are expected to benefit the U.S. oil and gas sector, but also bring economic and geopolitical risks.
United States Steel Corp. said it has concerns that Argentine oil country tubular goods are being dumped “at much higher levels” than preliminary data suggested.
For the upcoming week, Stratas Advisors believes the announced delay by OPEC+ will keep the price of Brent crude above $70, but not reach $73.
The Organization of the Petroleum Exporting Countries and its allies on Dec. 5 pushed back the start of oil output rises by three months until April.
Geopolitics and weather top the list of trends that will determine the direction of oil and gas.
Late Nov. 25, President-elect Donald Trump said one of his first executive orders would be to enact a 25% tariff on “all products” originating from Canada and Mexico, a move that could escalate refined products prices.
For the upcoming week, a key resistance level for the price of Brent crude is $76. If the price of Brent crude can break above this level, Stratas Advisors could see Brent crude moving toward $80.
French oil major TotalEnergies SE was not informed of a U.S. investigation into possible bribery and corruption at Adani Green Energy Ltd., it said on Nov. 25, adding it will stop financial contributions to its Adani Group investments following last week's indictment.