Crude Oil

Japan Asks U.A.E. for ‘More Crude Oil’ amid Market Crisis

Japanese Foreign Minister Hayashi Yoshimasa asked his United Arab Emirates (U.A.E.) counterpart on Sunday to increase crude oil exports in an effort to stabilize the global petroleum market, which has experienced surging prices amid Russia’s latest war with Ukraine, Kyodo News reported on Monday.

FILE - In this Jan. 18, 2016 file photo, an oil pump works at sunset, in the desert oil fields of Sakhir, Bahrain. The global energy transition is perhaps nowhere more perplexing than in the Arabian Peninsula. The political stability of the six Gulf states -- Saudi Arabia, the United …

Spencer McGowan: Trump Should Tariff Saudi Arabia for Dumping Oil

President Donald Trump should impose tariffs on Saudi Arabia’s oil exports to the U.S. in response to the kingdom’s dumping of oil during record-low global prices of the commodity caused by coronavirus-related economic shutdowns, said Spencer McGowan, founder of McGowan Group Asset Management and host of NetWorth Radio.

energy

What’s Up with Prices at the Pump and Why It Could Be a Good Sign

All of us loved less-than $2 a gallon at the pump. AAA reports: “Americans paid cheapest quarterly gas prices in 12 years”—which resulted in savings of nearly $10 billion compared to the same period last year. However, oil (and, therefore gasoline) has been creeping upward since the February low—topping $45 a barrel, a high for the year. And that could be a good thing.

The Associated Press

Oil Is Down. Gasoline Isn’t. What’s Up?

A little more than a year ago, oil prices reached above $100 a barrel. Gasoline averaged in the $3.50 range nationally. In late spring, oil appeared $60ish and the national average for gas remained around $2.70. The price of a barrel of oil has since plunged to $40 and below—yet, prices at the pump remain just slightly less than they were when oil was almost double what it is today.

The Associated Press

The Geopolitics of Oil Go Round and Round

Many complicated factors contribute to the global price of a barrel of oil, but two of the leading components are supply and risk—and both have the potential to escalate in the days ahead.

AFP PHOTO / HO/ IRANIAN SUPREME LEADER'S WEBSITE