Biden aims for 20-year ban on energy leasing in Nevada
The Biden administration has applied to prevent oil, gas and geothermal...
The Biden administration has applied to prevent oil, gas and geothermal leasing for 20 years on 264,000 acres in Nevada's Ruby Mountains, responding to requests from Native American tribes and environmentalists. The move, which allows mining, starts a 90-day public comment period and a two-year halt on leasing.
OilPrice.com: The Factors That Will Drive Oil Prices in 2025
This year in oil has been marked by chronic trader pessimism about Chinese...
This year in oil has been marked by chronic trader pessimism about Chinese demand and an equally chronic downplaying of supply disruption risks. This has made for a rather stable year in prices—and the stability could continue in 2025, on a few conditions.
Brent crude and West Texas Intermediate appear set to end the year at nearly the same levels that they started. WTI started 2024 at a little over $70 per barrel and is about to end a little below that. Brent crude looks like it will post a little more noticeable loss, starting the year at $77 per barrel and ending at a bit over $74 at the time of writing.
Top 3 Factors in 2025
⭕️ Focus on China's oil demand, predicted to peak in 2025 or 2027, is expected to keep a lid on oil prices next year.
⭕️ Supply disruptions from OPEC+ or renewed sanctions on Iran could challenge price stability in 2025.
⭕️ India's rising oil demand and potential for a supply glut are other factors to consider in the 2025 oil price outlook.
On Monday, oil settled near $71, the highest close in two weeks, supported by technicals and higher natural...
On Monday, oil settled near $71, the highest close in two weeks, supported by technicals and higher natural gas prices.
West Texas Intermediate crude held above its 100-day moving average, a key technical level that spurred more buying. Algorithmic traders on Monday flipped to a net-long position in Brent crude after being short since mid-October, according to data from Bridgeton Research Group.
Prices also rose as colder-than-normal weather forecast drove natural gas futures up 20%, the most since the contract started trading in 2012. Gas tightness could stimulate short-term oil consumption amid an otherwise tepid demand outlook.
West Texas Intermediate for February delivery rose 0.6% to settle at $70.99 a barrel in New York.
Brent for February settlement, which expires Tuesday, lifted 0.3% to settle at at $74.39 a barrel. The more-active March contract edged higher to $73.99.
Natural gas February futures NGG25 closed up 5.5 cents, at $3.93 per MMBtu.
President Jimmy Carter's energy legacy is marked by his dual approach to energy policy, which included the deregulation of fossil fuels and the promotion of solar energy. The Carter administration played a crucial role in the deregulation of fossil fuels, particularly natural gas, paving the way for the fracking industry. His policies aimed to increase energy independence by promoting various energy sources, including coal and oil, alongside renewables.
U.S. stocks close lower again, further dimming hopes for 'Santa Claus rally
U.S. stocks ended lower on Monday as some traders took...
U.S. stocks ended lower on Monday as some traders took profits before the end of the year, dimming hopes for the “Santa Claus rally.”
The Santa rally speaks to a seasonal tendency for the S&P 500 to rise over the last five trading days of a calendar year and the first two trading days of the new year.
The Dow Jones Industrial Average ended roughly 1% lower for back-to-back losses, according to preliminary closing data from FactSet.
The S&P 500 closed 1.1% lower for its third straight daily loss.
The Nasdaq Composite finished about 1.2% lower, also booking its third straight daily loss.
