Oil forecast: Brent could rise to $125 per barrel on Monday
Last week, the Brent benchmark rose 21% to close at $118.11 a barrel and U.S. crude...
Last week, the Brent benchmark rose 21% to close at $118.11 a barrel and U.S. crude gained 26% to close at $115.68, levels not seen 2013 and 2008, respectively, as Russia struggled to sell oil amid fresh sanctions. read more
"Iran was the only real bearish factor hanging over the market but if now the Iranian deal gets delayed, we could get to tank bottoms a lot quicker especially if Russian barrels remain off the market for long," said Amrita Sen, co-founder of Energy Aspects, a think tank.
Sen said Brent could rise to $125 per barrel on Monday, quickly approaching an all-time high of $147, last seen in 2008.
Analysts from JP Morgan said this week oil could soar to $185 per barrel this year.
Average price of a gallon of gasoline hit $4.009 on Sunday
In the United States, meanwhile, the average price of a gallon of gasoline hit $4.009 on Sunday,...
In the United States, meanwhile, the average price of a gallon of gasoline hit $4.009 on Sunday, according to AAA, an automobile association, which is the highest since July 2008. Consumers are paying 40 cents more than a week ago, and 57 cents more than a month ago. read more
Blinken says Ukraine sanctions on Russia not linked with Iran nuclear talks
In response to Russia's demands, U.S. Secretary of State Antony Blinken said on Sunday that the sanctions...
In response to Russia's demands, U.S. Secretary of State Antony Blinken said on Sunday that the sanctions imposed on Russia over its Ukraine invasion have nothing to do with a potential nuclear deal with Iran. read more
US officials hold Venezuela meetings amid hunt for alternative oil supplies
A high-level US delegation has met top government officials in Venezuela, as the world seeks alternative...
A high-level US delegation has met top government officials in Venezuela, as the world seeks alternative suppliers to replace Russian oil if western sanctions on Moscow are tightened after its invasion of Ukraine.
Juan González, the top White House official on Latin America, was in Caracas on Saturday for meetings with President Nicolás Maduro’s government, according to a source familiar with the discussions. Two other sources confirmed that a senior US delegation was in Caracas for meetings.
Europe Fears It Could Be Too Late to Shake Off Russian Gas Addiction
Russian President Vladimir Putin’s ...
Russian President Vladimir Putin’s war in Ukraine has jolted Europe’s slow-moving efforts to wean itself off Russian natural gas, but time is running out, threatening to leave consumers cold and factories idle by next winter.
Whether the Kremlin turns off the taps in retaliation for sanctions or Europe stops buying, European policymakers agree that they need to prepare for a future with much less Russian energy if any.
