Oil Jumps as Hamas’ Attack on Israel Fans Middle East Tensions
By Serene Cheong and Elizabeth Low October 9, 2023 at 6:05 AM

https://www.bloomberg.com/news/articles/2023-10-08/oil-rallies-by-more-than-3-after-hamas-attacks-against-israel

Oil surged 5% after Hamas’ surprise attacks on Israel over the weekend, the broadest and bloodiest in decades, threatened to inflame tensions in the Middle East.
West Texas Intermediate traded near $87 a barrel as a war-risk premium returned to markets. The combined death toll topped 1,100 as fighting headed into a third day, while the US said it was sending warships to the region.
The latest events in Israel don’t pose an immediate threat to oil supply, but there’s a risk the conflict could spiral into a more devastating proxy war, embroiling the US and Iran. Any retaliation against Tehran amid reports it was involved in the attacks could endanger the passage of vessels through the Strait of Hormuz, a vital conduit that Iran has previously threatened to close...

Oil Jumps as Hamas’ Attack on Israel Fans Middle East Tensions
By Serene Cheong and Elizabeth Low October 9, 2023 at 6:05 AM

https://www.bloomberg.com/news/articles/2023-10-08/oil-rallies-by-more-than-3-after-hamas-attacks-against-israel

Oil surged 5% after Hamas’ surprise attacks on Israel over the weekend, the broadest and bloodiest in decades, threatened to inflame tensions in the Middle East.
West Texas Intermediate traded near $87 a barrel as a war-risk premium returned to markets. The combined death toll topped 1,100 as fighting headed into a third day, while the US said it was sending warships to the region.
The latest events in Israel don’t pose an immediate threat to oil supply, but there’s a risk the conflict could spiral into a more devastating proxy war, embroiling the US and Iran. Any retaliation against Tehran amid reports it was involved in the attacks could endanger the passage of vessels through the Strait of Hormuz, a vital conduit that Iran has previously threatened to close...

‘Knee-jerk surge’: Oil experts predict market impact of Israel-Hamas conflict
PUBLISHED SUN, OCT 8 20233:08 AM EDT

https://www.cnbc.com/2023/10/08/israel-hamas-oil-experts-expect-knee-jerk-reaction-in-energy-markets.html

Crude oil prices could see a spike on Monday but the overall impact of the attack on Israel by Palestinian militants Hamas will likely be limited, energy experts told CNBC.
That’s provided the conflict does not escalate further, they said.
“We may see a knee-jerk surge in crude prices when markets open on Monday,” Vandana Hari, CEO of Vanda Insights, told CNBC via email.
“There will be some risk premium factored in as a default, until the market is satisfied that the event is not setting off a chain reaction and Mideast oil and gas supplies won’t be affected,” said Hari.
Militants from Hamas — designated by the U.S., European Union and the U.K. as a terrorist organization — infiltrated Israel by land, sea and air on Saturday, during a major Jewish holiday. The incursion came hours after the Islamist militants fired thousands of rockets into Israel from Gaza...

‘Knee-jerk surge’: Oil experts predict market impact of Israel-Hamas conflict
PUBLISHED SUN, OCT 8 20233:08 AM EDT

https://www.cnbc.com/2023/10/08/israel-hamas-oil-experts-expect-knee-jerk-reaction-in-energy-markets.html

Crude oil prices could see a spike on Monday but the overall impact of the attack on Israel by Palestinian militants Hamas will likely be limited, energy experts told CNBC.
That’s provided the conflict does not escalate further, they said.
“We may see a knee-jerk surge in crude prices when markets open on Monday,” Vandana Hari, CEO of Vanda Insights, told CNBC via email.
“There will be some risk premium factored in as a default, until the market is satisfied that the event is not setting off a chain reaction and Mideast oil and gas supplies won’t be affected,” said Hari.
Militants from Hamas — designated by the U.S., European Union and the U.K. as a terrorist organization — infiltrated Israel by land, sea and air on Saturday, during a major Jewish holiday. The incursion came hours after the Islamist militants fired thousands of rockets into Israel from Gaza...

‘Knee-jerk surge’: Oil experts predict market impact of Israel-Hamas conflict
PUBLISHED SUN, OCT 8 20233:08 AM EDT

https://www.cnbc.com/2023/10/08/israel-hamas-oil-experts-expect-knee-jerk-reaction-in-energy-markets.html

Crude oil prices could see a spike on Monday but the overall impact of the attack on Israel by Palestinian militants Hamas will likely be limited, energy experts told CNBC.
That’s provided the conflict does not escalate further, they said.
“We may see a knee-jerk surge in crude prices when markets open on Monday,” Vandana Hari, CEO of Vanda Insights, told CNBC via email.
“There will be some risk premium factored in as a default, until the market is satisfied that the event is not setting off a chain reaction and Mideast oil and gas supplies won’t be affected,” said Hari.
Militants from Hamas — designated by the U.S., European Union and the U.K. as a terrorist organization — infiltrated Israel by land, sea and air on Saturday, during a major Jewish holiday. The incursion came hours after the Islamist militants fired thousands of rockets into Israel from Gaza...

‘Knee-jerk surge’: Oil experts predict market impact of Israel-Hamas conflict
PUBLISHED SUN, OCT 8 20233:08 AM EDT

https://www.cnbc.com/2023/10/08/israel-hamas-oil-experts-expect-knee-jerk-reaction-in-energy-markets.html

Crude oil prices could see a spike on Monday but the overall impact of the attack on Israel by Palestinian militants Hamas will likely be limited, energy experts told CNBC.
That’s provided the conflict does not escalate further, they said.
“We may see a knee-jerk surge in crude prices when markets open on Monday,” Vandana Hari, CEO of Vanda Insights, told CNBC via email.
“There will be some risk premium factored in as a default, until the market is satisfied that the event is not setting off a chain reaction and Mideast oil and gas supplies won’t be affected,” said Hari.
Militants from Hamas — designated by the U.S., European Union and the U.K. as a terrorist organization — infiltrated Israel by land, sea and air on Saturday, during a major Jewish holiday. The incursion came hours after the Islamist militants fired thousands of rockets into Israel from Gaza...

‘Knee-jerk surge’: Oil experts predict market impact of Israel-Hamas conflict
PUBLISHED SUN, OCT 8 20233:08 AM EDT

https://www.cnbc.com/2023/10/08/israel-hamas-oil-experts-expect-knee-jerk-reaction-in-energy-markets.html

Crude oil prices could see a spike on Monday but the overall impact of the attack on Israel by Palestinian militants Hamas will likely be limited, energy experts told CNBC.
That’s provided the conflict does not escalate further, they said.
“We may see a knee-jerk surge in crude prices when markets open on Monday,” Vandana Hari, CEO of Vanda Insights, told CNBC via email.
“There will be some risk premium factored in as a default, until the market is satisfied that the event is not setting off a chain reaction and Mideast oil and gas supplies won’t be affected,” said Hari.
Militants from Hamas — designated by the U.S., European Union and the U.K. as a terrorist organization — infiltrated Israel by land, sea and air on Saturday, during a major Jewish holiday. The incursion came hours after the Islamist militants fired thousands of rockets into Israel from Gaza...

Wow, oil price spike up like mad !
Brent now at $88.37 +$3.79 +4.48 %

Wow, oil price spike up like mad !
Brent now at $88.37 +$3.79 +4.48 %

Wow, oil price spike up like mad !
Brent now at $88.37 +$3.79 +4.48 %

Wow, oil price spike up like mad !
Brent now at $88.37 +$3.79 +4.48 %

Wow, oil price spike up like mad !
Brent now at $88.37 +$3.79 +4.48 %

Bravo, Now KNM already at 0.18 (+0.015) (+9.1 %)

Hurrey, super damn hot man KNM today !
Now KNM already at 0.175 (+0.01) (+6.1 %)

Bravo, Now KNM already at
0.17 (+0.02) (+13.3 %)

Both sides + retailers keep on top up more KNM shares till EGM to fight for who are the biggest share holding to take control of the company !

Probably it’s share price will spike up till above 80 cents before the EGM meeting !

KNM’s EGM Meeting is on
16-10-2023(Monday),
one week plus from now !

Hurrey, super damn hot man KNM today ! 

Now KNM already at
0.16 (+0.01) (+6.7 %)

Hurrey, super damn hot man ICON today ! 

Now ICON already at
0.12 (+0.005) (+4.4 %)

Hurrey, super damn hot man KNM today ! 

Now KNM already at
0.155 (+0.015) (+10.7 %)

Bravo, KNM was closed at 

0.14 (+0.015) (+12.0 %)

Hurrey, super damn hot man KNM today !
Now KNM already at 0.135 (+0.01) (+8.0 %)

Oil Prices ‘Melt Up’ in a March Toward $100 a Barrel
By Stanley Reed Sept. 27, 2023, 12:50 p.m. ET

https://www.nytimes.com/2023/09/27/business/oil-price-100-barrel.html

Analysts have raised their forecasts for oil prices, as they try to understand Saudi Arabia’s intentions with recent production cuts.

Many energy analysts think that oil prices will soon rise above $100 a barrel for the first time in more than a year, since the turmoil that followed Russia’s invasion of Ukraine. The price of Brent crude, the international benchmark, has gained about 30 percent since the start of July, trading at about $96.50 a barrel on Wednesday.
“I think prices are starting to melt up,” said Robert McNally, president of Rapidan Energy Group, a research firm.

Driving the rise, analysts say, is the deep reduction in oil output orchestrated by Saudi Arabia over the last year. The kingdom’s ability and willingness to add and subtract supplies gives it substantial sway over the market for this crucial commodity.
Climbing oil prices increase energy costs for consumers and businesses, weighing on the global economy. In the United States, the price of crude oil accounts for about half the price of gasoline. Rising pump prices are squeezing motorists, complicating the Federal Reserve’s fight against inflation and stoking concerns over the Biden administration’s economic stewardship…..

Oil Prices ‘Melt Up’ in a March Toward $100 a Barrel
By Stanley Reed Sept. 27, 2023, 12:50 p.m. ET

https://www.nytimes.com/2023/09/27/business/oil-price-100-barrel.html

Analysts have raised their forecasts for oil prices, as they try to understand Saudi Arabia’s intentions with recent production cuts.

Many energy analysts think that oil prices will soon rise above $100 a barrel for the first time in more than a year, since the turmoil that followed Russia’s invasion of Ukraine. The price of Brent crude, the international benchmark, has gained about 30 percent since the start of July, trading at about $96.50 a barrel on Wednesday.
“I think prices are starting to melt up,” said Robert McNally, president of Rapidan Energy Group, a research firm.

Driving the rise, analysts say, is the deep reduction in oil output orchestrated by Saudi Arabia over the last year. The kingdom’s ability and willingness to add and subtract supplies gives it substantial sway over the market for this crucial commodity.
Climbing oil prices increase energy costs for consumers and businesses, weighing on the global economy. In the United States, the price of crude oil accounts for about half the price of gasoline. Rising pump prices are squeezing motorists, complicating the Federal Reserve’s fight against inflation and stoking concerns over the Biden administration’s economic stewardship…..

Oil Prices ‘Melt Up’ in a March Toward $100 a Barrel
By Stanley Reed Sept. 27, 2023, 12:50 p.m. ET

https://www.nytimes.com/2023/09/27/business/oil-price-100-barrel.html

Analysts have raised their forecasts for oil prices, as they try to understand Saudi Arabia’s intentions with recent production cuts.

Many energy analysts think that oil prices will soon rise above $100 a barrel for the first time in more than a year, since the turmoil that followed Russia’s invasion of Ukraine. The price of Brent crude, the international benchmark, has gained about 30 percent since the start of July, trading at about $96.50 a barrel on Wednesday.
“I think prices are starting to melt up,” said Robert McNally, president of Rapidan Energy Group, a research firm.

Driving the rise, analysts say, is the deep reduction in oil output orchestrated by Saudi Arabia over the last year. The kingdom’s ability and willingness to add and subtract supplies gives it substantial sway over the market for this crucial commodity.
Climbing oil prices increase energy costs for consumers and businesses, weighing on the global economy. In the United States, the price of crude oil accounts for about half the price of gasoline. Rising pump prices are squeezing motorists, complicating the Federal Reserve’s fight against inflation and stoking concerns over the Biden administration’s economic stewardship…..

Oil Prices ‘Melt Up’ in a March Toward $100 a Barrel
By Stanley Reed Sept. 27, 2023, 12:50 p.m. ET

https://www.nytimes.com/2023/09/27/business/oil-price-100-barrel.html

Analysts have raised their forecasts for oil prices, as they try to understand Saudi Arabia’s intentions with recent production cuts.

Many energy analysts think that oil prices will soon rise above $100 a barrel for the first time in more than a year, since the turmoil that followed Russia’s invasion of Ukraine. The price of Brent crude, the international benchmark, has gained about 30 percent since the start of July, trading at about $96.50 a barrel on Wednesday.
“I think prices are starting to melt up,” said Robert McNally, president of Rapidan Energy Group, a research firm.

Driving the rise, analysts say, is the deep reduction in oil output orchestrated by Saudi Arabia over the last year. The kingdom’s ability and willingness to add and subtract supplies gives it substantial sway over the market for this crucial commodity.
Climbing oil prices increase energy costs for consumers and businesses, weighing on the global economy. In the United States, the price of crude oil accounts for about half the price of gasoline. Rising pump prices are squeezing motorists, complicating the Federal Reserve’s fight against inflation and stoking concerns over the Biden administration’s economic stewardship…..

Oil Prices ‘Melt Up’ in a March Toward $100 a Barrel
By Stanley Reed Sept. 27, 2023, 12:50 p.m. ET
https://www.nytimes.com/2023/09/27/business/oil-price-100-barrel.html

Analysts have raised their forecasts for oil prices, as they try to understand Saudi Arabia’s intentions with recent production cuts.

Many energy analysts think that oil prices will soon rise above $100 a barrel for the first time in more than a year, since the turmoil that followed Russia’s invasion of Ukraine. The price of Brent crude, the international benchmark, has gained about 30 percent since the start of July, trading at about $96.50 a barrel on Wednesday.
“I think prices are starting to melt up,” said Robert McNally, president of Rapidan Energy Group, a research firm.

Driving the rise, analysts say, is the deep reduction in oil output orchestrated by Saudi Arabia over the last year. The kingdom’s ability and willingness to add and subtract supplies gives it substantial sway over the market for this crucial commodity.
Climbing oil prices increase energy costs for consumers and businesses, weighing on the global economy. In the United States, the price of crude oil accounts for about half the price of gasoline. Rising pump prices are squeezing motorists, complicating the Federal Reserve’s fight against inflation and stoking concerns over the Biden administration’s economic stewardship…..

Sapura Energy bags RM1.4 bil job for gas complex in Angola, reports profitable 2Q
By Chester Tay / theedgemalaysia.com
27 Sep 2023, 08:46 pm

https://theedgemalaysia.com/node/684175

KUALA LUMPUR (Sept 27): Sapura Energy Bhd, which reported its second consecutive profitable quarter on Wednesday, said it has secured a US$300 million (RM1.4 billion) contract from Azule Energy Angola BV for a gas complex in Angola — the Angola Northern Gas Complex (NGC) project.
The contract's scope of work comprises engineering services, transportation, installation and related activities for the Quiluma and Maboqueiro Platform of the Angola NGC project, according to Sapura’s stock exchange filing on Wednesday. The works are expected to be completed by the fourth quarter of 2026.
In a statement released together with Sapura’s quarterly results, the group said the Angola job is a “notable” win for the group, raising its order book to RM6.3 billion, of which over 60% of its contracts are for jobs outside Malaysia.

Sapura said it remains committed to its strategic direction of rebalancing its global portfolio and deploying key assets in regions where it can be competitive.
“We are actively repositioning ourselves geographically to seize opportunities across all our business segments, bidding right and pursuing major projects in Africa, the Mediterranean, the Atlantic and the Asia-Pacific region,” said group CEO Datuk Mohd Anuar Taib. “The trusted partnerships we have built with clients have helped us to navigate limited liquidity issues, enabling us to win more work."
For the second quarter ended July 31, 2023 (2QFY2024), Sapura reported a net profit of RM42.81 million or 0.27 sen per share, versus a net loss of RM2.59 million or 0.02 sen per share a year ago.
Sapura attributed 2QFY2024’s profitability to lower depreciation, higher share of profit from joint venture and associate, as well as favourable foreign exchange gain from the appreciation of US dollar against the ringgit.
Revenue, however, dipped 2.5% to RM1.14 billion in 2QFY2024 from RM1.17 billion in 2QFY2023, mainly due to the completion of a project under its drilling businesses.
The group's earnings before interest, taxes, depreciation and amortisation (Ebitda) also dropped in 2QFY2024 compared to the preceding quarter, mainly due to project delays within its engineering and construction (E&C), and operations and maintenance (O&M) business segments.
Its drilling business segment, meanwhile, continued to demonstrate robust performance, the group said, driven by lower operating expenses and the commencement of new contracts.
“The exploration and production business segment, operated through the SapuraOMV Upstream joint venture, also maintained consistent performance during the reviewed quarter, albeit with a slight decline in average gas production, mainly due to a scheduled shutdown,” it said.
For the first six months of FY2024 (1HFY2024), the oil and gas engineering firm’s net profit more than doubled to RM188.89 million from RM89.34 million in the previous corresponding period, while revenue grew 1.7% to RM2.09 billion from RM2.06 billion.
Sapura said its 1HFY2024 results showcased its resilience in overcoming multiple operational challenges, including escalating project and financing costs, as well as a lack of access to bank guarantees and working capital, which in turn affected order book replenishment.
“We are building on our steady recovery to set the stage for future growth. To maintain this positive momentum, we will continue to improve the group’s cashflow and Ebitda, and strengthen operational efficiencies to protect project margins and drive consistent results,” said Mohd Anuar.
 “Addressing our unsustainable debt remains a crucial part of our sustainability, and we will continue to make every effort to resolve this with all relevant stakeholders,” he added.
 As part of Sapura’s debt restructuring, the group said it has validated RM1.5 billion worth of overdue claims from approximately 2,000 trade creditors.
“Operationally, we continue to geographically reposition ourselves to capture opportunities, in particular with E&C and O&M segments. Meanwhile, drilling remains the group’s solid base with 10 rigs contracted to clients across Thailand, Malaysia and Africa. Furthermore, the divestment of the group’s 50% stake in SapuraOMV is ongoing,” said Sapura.
“The group will continue its effort to address the unsustainable debt and Practice Note 17 status, facilitated by CDRC (Corporate Debt Restructuring Committee), and is hopeful of reaching a principal agreement with its MCF (multi-currency financing) financiers by end of this year,” it added.
Sapura Energy shares gained half sen or 10% to close at 5.5 sen on Wednesday, giving the group a market capitalisation of RM878.85 million.

Oil climbs 3% as steep US crude stocks draw adds to supply concerns
By Arathy Somasekhar
September 28, 2023 3:06 AM

https://www.reuters.com/markets/commodities/oil-prices-edge-higher-markets-focus-supply-tightness-2023-09-27/

HOUSTON, Sept 27 (Reuters) - Oil prices surged 3% on Wednesday to the highest settlement in 2023, after a steep drop in U.S. crude stocks compounded worries of tight global supplies.
Brent crude futures closed up $2.59, or 2.8%, at $96.55. It breached $97 a barrel during the session.
U.S. West Texas Intermediate crude futures (WTI) climbed $3.29, or 3.6%, to $93.68. The session high was over $94.
U.S. crude stocks fell by 2.2 million barrels last week to 416.3 million barrels, government data showed, far exceeding the 320,000-barrel drop analysts expected in a Reuters poll.

Crude stocks at the Cushing, Oklahoma, storage hub, delivery point for U.S. crude futures, fell by 943,000 barrels in the week to just under 22 million barrels, the lowest since July 2022, data showed.
"The market is being led up by storage numbers as we are getting to the minimum operational inventories at Cushing," said Andrew Lipow, president of Lipow Oil Associates.
Stockpiles at Cushing have been falling closer to historic low levels due to strong refining and export demand, prompting concerns about quality of the remaining oil at the hub and whether it will fall below minimum operating levels.

Prices fell last week but were rallying again as markets worried about tight supplies heading into winter, following production cuts of 1.3 million barrels a day to the end of the year by Saudi Arabia and Russia of the Organization of the Petroleum Exporting Countries and allies known as OPEC+.
"Until a decision to raise production is made, the global energy market will remain tight," Ole Hansen, Head of Commodity Strategy at Saxo Bank, said.

Oil climbs 3% as steep US crude stocks draw adds to supply concerns
By Arathy Somasekhar
September 28, 2023 3:06 AM

https://www.reuters.com/markets/commodities/oil-prices-edge-higher-markets-focus-supply-tightness-2023-09-27/

HOUSTON, Sept 27 (Reuters) - Oil prices surged 3% on Wednesday to the highest settlement in 2023, after a steep drop in U.S. crude stocks compounded worries of tight global supplies.
Brent crude futures closed up $2.59, or 2.8%, at $96.55. It breached $97 a barrel during the session.
U.S. West Texas Intermediate crude futures (WTI) climbed $3.29, or 3.6%, to $93.68. The session high was over $94.
U.S. crude stocks fell by 2.2 million barrels last week to 416.3 million barrels, government data showed, far exceeding the 320,000-barrel drop analysts expected in a Reuters poll.

Crude stocks at the Cushing, Oklahoma, storage hub, delivery point for U.S. crude futures, fell by 943,000 barrels in the week to just under 22 million barrels, the lowest since July 2022, data showed.
"The market is being led up by storage numbers as we are getting to the minimum operational inventories at Cushing," said Andrew Lipow, president of Lipow Oil Associates.
Stockpiles at Cushing have been falling closer to historic low levels due to strong refining and export demand, prompting concerns about quality of the remaining oil at the hub and whether it will fall below minimum operating levels.

Prices fell last week but were rallying again as markets worried about tight supplies heading into winter, following production cuts of 1.3 million barrels a day to the end of the year by Saudi Arabia and Russia of the Organization of the Petroleum Exporting Countries and allies known as OPEC+.
"Until a decision to raise production is made, the global energy market will remain tight," Ole Hansen, Head of Commodity Strategy at Saxo Bank, said.

Oil climbs 3% as steep US crude stocks draw adds to supply concerns
By Arathy Somasekhar
September 28, 2023 3:06 AM

https://www.reuters.com/markets/commodities/oil-prices-edge-higher-markets-focus-supply-tightness-2023-09-27/

HOUSTON, Sept 27 (Reuters) - Oil prices surged 3% on Wednesday to the highest settlement in 2023, after a steep drop in U.S. crude stocks compounded worries of tight global supplies.
Brent crude futures closed up $2.59, or 2.8%, at $96.55. It breached $97 a barrel during the session.
U.S. West Texas Intermediate crude futures (WTI) climbed $3.29, or 3.6%, to $93.68. The session high was over $94.
U.S. crude stocks fell by 2.2 million barrels last week to 416.3 million barrels, government data showed, far exceeding the 320,000-barrel drop analysts expected in a Reuters poll.

Crude stocks at the Cushing, Oklahoma, storage hub, delivery point for U.S. crude futures, fell by 943,000 barrels in the week to just under 22 million barrels, the lowest since July 2022, data showed.
"The market is being led up by storage numbers as we are getting to the minimum operational inventories at Cushing," said Andrew Lipow, president of Lipow Oil Associates.
Stockpiles at Cushing have been falling closer to historic low levels due to strong refining and export demand, prompting concerns about quality of the remaining oil at the hub and whether it will fall below minimum operating levels.

Prices fell last week but were rallying again as markets worried about tight supplies heading into winter, following production cuts of 1.3 million barrels a day to the end of the year by Saudi Arabia and Russia of the Organization of the Petroleum Exporting Countries and allies known as OPEC+.
"Until a decision to raise production is made, the global energy market will remain tight," Ole Hansen, Head of Commodity Strategy at Saxo Bank, said.

Oil climbs 3% as steep US crude stocks draw adds to supply concerns
By Arathy Somasekhar
September 28, 2023 3:06 AM

https://www.reuters.com/markets/commodities/oil-prices-edge-higher-markets-focus-supply-tightness-2023-09-27/

HOUSTON, Sept 27 (Reuters) - Oil prices surged 3% on Wednesday to the highest settlement in 2023, after a steep drop in U.S. crude stocks compounded worries of tight global supplies.
Brent crude futures closed up $2.59, or 2.8%, at $96.55. It breached $97 a barrel during the session.
U.S. West Texas Intermediate crude futures (WTI) climbed $3.29, or 3.6%, to $93.68. The session high was over $94.
U.S. crude stocks fell by 2.2 million barrels last week to 416.3 million barrels, government data showed, far exceeding the 320,000-barrel drop analysts expected in a Reuters poll.

Crude stocks at the Cushing, Oklahoma, storage hub, delivery point for U.S. crude futures, fell by 943,000 barrels in the week to just under 22 million barrels, the lowest since July 2022, data showed.
"The market is being led up by storage numbers as we are getting to the minimum operational inventories at Cushing," said Andrew Lipow, president of Lipow Oil Associates.
Stockpiles at Cushing have been falling closer to historic low levels due to strong refining and export demand, prompting concerns about quality of the remaining oil at the hub and whether it will fall below minimum operating levels.

Prices fell last week but were rallying again as markets worried about tight supplies heading into winter, following production cuts of 1.3 million barrels a day to the end of the year by Saudi Arabia and Russia of the Organization of the Petroleum Exporting Countries and allies known as OPEC+.
"Until a decision to raise production is made, the global energy market will remain tight," Ole Hansen, Head of Commodity Strategy at Saxo Bank, said.

Oil climbs 3% as steep US crude stocks draw adds to supply concerns
By Arathy Somasekhar
September 28, 2023 3:06 AM
https://www.reuters.com/markets/commodities/oil-prices-edge-higher-markets-focus-supply-tightness-2023-09-27/

HOUSTON, Sept 27 (Reuters) - Oil prices surged 3% on Wednesday to the highest settlement in 2023, after a steep drop in U.S. crude stocks compounded worries of tight global supplies.
Brent crude futures closed up $2.59, or 2.8%, at $96.55. It breached $97 a barrel during the session.
U.S. West Texas Intermediate crude futures (WTI) climbed $3.29, or 3.6%, to $93.68. The session high was over $94.
U.S. crude stocks fell by 2.2 million barrels last week to 416.3 million barrels, government data showed, far exceeding the 320,000-barrel drop analysts expected in a Reuters poll.

Crude stocks at the Cushing, Oklahoma, storage hub, delivery point for U.S. crude futures, fell by 943,000 barrels in the week to just under 22 million barrels, the lowest since July 2022, data showed.
"The market is being led up by storage numbers as we are getting to the minimum operational inventories at Cushing," said Andrew Lipow, president of Lipow Oil Associates.
Stockpiles at Cushing have been falling closer to historic low levels due to strong refining and export demand, prompting concerns about quality of the remaining oil at the hub and whether it will fall below minimum operating levels.

Prices fell last week but were rallying again as markets worried about tight supplies heading into winter, following production cuts of 1.3 million barrels a day to the end of the year by Saudi Arabia and Russia of the Organization of the Petroleum Exporting Countries and allies known as OPEC+.
"Until a decision to raise production is made, the global energy market will remain tight," Ole Hansen, Head of Commodity Strategy at Saxo Bank, said.

Oil price spike up Like mad…
Brent $96.55 +2.59 +2.76 %

Oil price spike up Like mad…
Brent $96.55 +2.59 +2.76 %

Oil price spike up Like mad…
Brent $96.55 +2.59 +2.76 %

Oil price spike up Like mad…
Brent $96.55 +2.59 +2.76 %

Oil price spike up Like mad…
Brent $96.55 +2.59 +2.76 %

Horrey, Super damn hot Talamt today !
Now Talamt already at
0.025 (+0.005) (+25.0 %)

JPMorgan Analyst Sees Energy Supercycle With Oil As High As $150
By Julianne Geiger - Sep 22, 2023, 4:30 PM CDT
https://oilprice.com/Latest-Energy-News/World-News/JPMorgan-Analyst-Sees-Energy-Supercycle-With-Oil-As-High-As-150.html

JPMorgan’s head of EMEA energy equity research, Christyan Malek, warned markets on Friday that the recent Brent price surge could continue upwards to $150 per barrel by 2026, according to a new research report.
Several catalysts went into the $150 price warning, including capacity shocks, an energy supercycle—and of course, efforts to push the world further away from fossil fuels.
Most recently, crude oil prices have surged on the back of OPEC+ production cuts, mostly led by Saudi Arabia who almost singlehanded took 1 million bpd out of the market, followed by a fuel export ban from Russia. Increased crude demand paired up with the supply restrictions, boosting crude oil prices and contributing to rising consumer prices.

Brent prices were trading around $93.55 on Friday afternoon, but Malek expects Brent prices between $90 and $110 next year, and even higher in 2025.
“Put your seatbelts on. It’s going to be a very volatile supercycle,” Malek told Bloomberg on Friday, as the analyst warned about OPEC’s production cuts and a lack of investment in new oil production.
JPMorgan said in February this year that Oil prices were unlikely to reach $100 per barrel this year unless there was some major geopolitical event that rattled markets, warning that OPEC+ could add in as much as 400,000 bpd to global supplies, with Russia’s oil exports potentially recovering by the middle of this year. At the time, JPMorgan was estimating 770,000 bpd in demand growth from China—less than what the IEA and OPEC were estimating.
JPMorgan now sees the global supply and demand imbalance at 1.1 million bpd in 2025, but growing to a 7.1 million bpd deficit in 2030 as robust demand continues to butt up against limited supply.
By Julianne Geiger for Oilprice.com

JPMorgan Analyst Sees Energy Supercycle With Oil As High As $150
By Julianne Geiger - Sep 22, 2023, 4:30 PM CDT
https://oilprice.com/Latest-Energy-News/World-News/JPMorgan-Analyst-Sees-Energy-Supercycle-With-Oil-As-High-As-150.html

JPMorgan’s head of EMEA energy equity research, Christyan Malek, warned markets on Friday that the recent Brent price surge could continue upwards to $150 per barrel by 2026, according to a new research report.
Several catalysts went into the $150 price warning, including capacity shocks, an energy supercycle—and of course, efforts to push the world further away from fossil fuels.
Most recently, crude oil prices have surged on the back of OPEC+ production cuts, mostly led by Saudi Arabia who almost singlehanded took 1 million bpd out of the market, followed by a fuel export ban from Russia. Increased crude demand paired up with the supply restrictions, boosting crude oil prices and contributing to rising consumer prices.

Brent prices were trading around $93.55 on Friday afternoon, but Malek expects Brent prices between $90 and $110 next year, and even higher in 2025.
“Put your seatbelts on. It’s going to be a very volatile supercycle,” Malek told Bloomberg on Friday, as the analyst warned about OPEC’s production cuts and a lack of investment in new oil production.
JPMorgan said in February this year that Oil prices were unlikely to reach $100 per barrel this year unless there was some major geopolitical event that rattled markets, warning that OPEC+ could add in as much as 400,000 bpd to global supplies, with Russia’s oil exports potentially recovering by the middle of this year. At the time, JPMorgan was estimating 770,000 bpd in demand growth from China—less than what the IEA and OPEC were estimating.
JPMorgan now sees the global supply and demand imbalance at 1.1 million bpd in 2025, but growing to a 7.1 million bpd deficit in 2030 as robust demand continues to butt up against limited supply.
By Julianne Geiger for Oilprice.com

JPMorgan Analyst Sees Energy Supercycle With Oil As High As $150
By Julianne Geiger - Sep 22, 2023, 4:30 PM CDT
https://oilprice.com/Latest-Energy-News/World-News/JPMorgan-Analyst-Sees-Energy-Supercycle-With-Oil-As-High-As-150.html

JPMorgan’s head of EMEA energy equity research, Christyan Malek, warned markets on Friday that the recent Brent price surge could continue upwards to $150 per barrel by 2026, according to a new research report.
Several catalysts went into the $150 price warning, including capacity shocks, an energy supercycle—and of course, efforts to push the world further away from fossil fuels.
Most recently, crude oil prices have surged on the back of OPEC+ production cuts, mostly led by Saudi Arabia who almost singlehanded took 1 million bpd out of the market, followed by a fuel export ban from Russia. Increased crude demand paired up with the supply restrictions, boosting crude oil prices and contributing to rising consumer prices.

Brent prices were trading around $93.55 on Friday afternoon, but Malek expects Brent prices between $90 and $110 next year, and even higher in 2025.
“Put your seatbelts on. It’s going to be a very volatile supercycle,” Malek told Bloomberg on Friday, as the analyst warned about OPEC’s production cuts and a lack of investment in new oil production.
JPMorgan said in February this year that Oil prices were unlikely to reach $100 per barrel this year unless there was some major geopolitical event that rattled markets, warning that OPEC+ could add in as much as 400,000 bpd to global supplies, with Russia’s oil exports potentially recovering by the middle of this year. At the time, JPMorgan was estimating 770,000 bpd in demand growth from China—less than what the IEA and OPEC were estimating.
JPMorgan now sees the global supply and demand imbalance at 1.1 million bpd in 2025, but growing to a 7.1 million bpd deficit in 2030 as robust demand continues to butt up against limited supply.
By Julianne Geiger for Oilprice.com

JPMorgan Analyst Sees Energy Supercycle With Oil As High As $150
By Julianne Geiger - Sep 22, 2023, 4:30 PM CDT
https://oilprice.com/Latest-Energy-News/World-News/JPMorgan-Analyst-Sees-Energy-Supercycle-With-Oil-As-High-As-150.html

JPMorgan’s head of EMEA energy equity research, Christyan Malek, warned markets on Friday that the recent Brent price surge could continue upwards to $150 per barrel by 2026, according to a new research report.
Several catalysts went into the $150 price warning, including capacity shocks, an energy supercycle—and of course, efforts to push the world further away from fossil fuels.
Most recently, crude oil prices have surged on the back of OPEC+ production cuts, mostly led by Saudi Arabia who almost singlehanded took 1 million bpd out of the market, followed by a fuel export ban from Russia. Increased crude demand paired up with the supply restrictions, boosting crude oil prices and contributing to rising consumer prices.

Brent prices were trading around $93.55 on Friday afternoon, but Malek expects Brent prices between $90 and $110 next year, and even higher in 2025.
“Put your seatbelts on. It’s going to be a very volatile supercycle,” Malek told Bloomberg on Friday, as the analyst warned about OPEC’s production cuts and a lack of investment in new oil production.
JPMorgan said in February this year that Oil prices were unlikely to reach $100 per barrel this year unless there was some major geopolitical event that rattled markets, warning that OPEC+ could add in as much as 400,000 bpd to global supplies, with Russia’s oil exports potentially recovering by the middle of this year. At the time, JPMorgan was estimating 770,000 bpd in demand growth from China—less than what the IEA and OPEC were estimating.
JPMorgan now sees the global supply and demand imbalance at 1.1 million bpd in 2025, but growing to a 7.1 million bpd deficit in 2030 as robust demand continues to butt up against limited supply.
By Julianne Geiger for Oilprice.com

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