US President Donald Trump said that Ukraine might not survive the war against Russia even with US support. “Well, it might not survive anyway. But we have some weaknesses with Russia, you know? It takes two. It was not going to happen that war, and it happened. So now we’re stuck with this mess,” Trump …
Oil prices took a hit this week, and according to Rystad Energy, the bearish mood is real—but temporary. Brent crude briefly dipped near $69 per barrel as markets reacted to OPEC+’s decision to gradually increase output starting in April, while ongoing tariff drama from Washington continues to rattle demand expectations. Rystad’s Mukesh Sahdev, Global Head …
Continue reading “Rystad: Oil Prices Under Pressure, But Don’t Expect a Freefall”
The Russian Ministry of Defense announced on Saturday that its forces took back three settlements in the Kursk region amid the ongoing offensive to reclaim the entire region’s territory and drive back Ukrainian forces. Russia’s northern group of troops liberated Viktorovka, Nikolaevka and Staraya Sorochina, the ministry said in a Telegram post. The Russian military …
A simmering tension in the crypto industry resurfaced after President Donald Trump signed a long-awaited order creating a strategic Bitcoin reserve and an additional stockpile of other digital assets. Even as crypto executives issued effusive social media posts praising the move, Bitcoin fell as much as 5.7%. The largest digital asset pared losses to around …
Continue reading “Crypto Drops 4% After Trump Executive Order Disappoints Market”
Delinquencies on auto loans among subprime borrowers are spiking as consumers continue grappling with higher interest rates Car owners are missing their monthly payments at the highest rate in more than 30 years, with 6.56% of subprime auto borrowers at least 60 days past due on their loans in January A slowing economy and the …
Continue reading “Americans Fall Behind on Car Payments at Highest Rate in Decades”
United States Treasury Secretary Scott Bessent vowed on Thursday to “shut down” Iran’s oil sector and drone “manufacturing capabilities” and also threatened to impose maximum financial pressure on the Middle Eastern country. “If I were an Iranian I would get all my money out of the rial now,” Bessent said, addressing the Economic Club of …
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OPEC+ announced a small production increase of only 138,000 bpd for April, citing a “healthier oil market outlook”. The move is more likely aimed at balancing geopolitical risks and appeasing President Trump amid his push for lower oil prices. OPEC+ members may be prioritizing market share over high prices. OPEC+ cited a “healthier oil market …
Continue reading “OPEC+ Caves to Trump Pressure—But Throws Just a Bone”
weekly Petroleum Data for the week ending February 28, 2025 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 3.6 million barrels from the previous week. At 433.8 million barrels, U.S. crude oil inventories are about 4% below the five year average for this time of year. U.S. crude …
Continue reading “EIA Weekly Petroleum Report….. Oil drops further, down 3%”
Oil prices declined for a third consecutive session as investors worried about OPEC+’s decision to proceed with a planned increase in oil production, boosting output by 138,000 barrels per day in April, marking the group’s first production rise since 2022 and sparking fears of oversupply. Adding to the downward pressure were fresh US tariffs, including a 25% duty on imports …
The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 1.455 million barrels for the week ending February 28. Analysts had expected a smaller 300,000-barrel draw. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) stayed at 395.3 million barrels in …