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U.S. Continues Torrent Production Growth

By: Jon Babyak / Posted on: August 22, 2019

In 2018, the United States petroleum production increased 16% while simultaneously increasing natural gas production by 12%.  According to the Energy Information Administration (EIA), “these totals combined established a new production record.”  The United States has been the largest producer of natural gas since it passed Russia in 2011, and last year the U.S. surpassed Saudi Arabia to become the largest producer of petroleum.  All signs indicate that the U.S. will continue to expand their production prominence, and over the next decade, the U.S. is set to account for 61% of all new global oil and gas production, nearly nine times the amount of Canada who projects to be second on the production increase list. 

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Oil Tanker Sabotage

By: Jon Babyak / Posted on: May 14, 2019

Tensions in the Middle East rose again over the weekend after reports indicated that four oil vessels were “attacked” or “sabotaged” at the mouth of the Persian Gulf near Fujairah Emirate, just outside of the Strait of Hormuz.  The United Arab Amirates (UAE) stated that the damaged ships were two crude oil tankers owned by Saudi Arabian shipping firm Bahri, one fuel bunker barge flying a UAE flag and Norwegian oil products tanker owned by Thome Ship management.  These reports are still largely unconfirmed, but come as no surprise given the recent rhetoric and geopolitical tensions facing the region.

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Trump's Tweet Tilts Markets

By: Mike Dombroski / Posted on: May 6, 2019

It has been a wild Monday for traders after President Trump tweeted yesterday that the United States will increase tariffs on $200 billion of Chinese imports, which, is casting doubt on the likelihood of a successful U.S. and Chinese trade deal.

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Oil Prices Take Breather after Wednesday's Strong Rally Led by Gasoline

By: Mike Dombroski / Posted on: April 11, 2019

Oil prices are taking a breather today after Wednesday’s strong rally due in large part to the gasoline inventory draw and low production levels in Venezuela.

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Trump's Tweet Helps Send Us Lower

By: Mike Dombroski / Posted on: March 28, 2019

WTI failed to settle above $60/barrel yesterday and President Trump’s tweet warning OPEC on high oil prices may be taking the wind out of the bull’s sails.

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