The global oil market saw crude futures jump to two-week highs on Thursday with the Brent front-month futures contract keeping up its defence of $65 per barrel. But for how long that is the question?
What's just happened is that a dip in US inventories bumped up the prices a smidge, with little tangible movement on the Ukraine peace push by US President Donald Trump.
But as The Oilholic told Reuters this morning, if the White House's efforts do result in a halt to hostilities in Ukraine, and Russia gradually coming back into the international fold, it will be bearish for the crude market.
There will likely be a supply surplus as we enter the fourth quarter of the year and head to the first quarter of 2026, as yours truly said in a recent Al Jazeera interview.
Year-till-date, Brent remains down by around 10% and there's further ground to give. And well, that can only be price positive for global consumers.
Away from crude prices, here are a few Forbes missives from this blogger published over the last few days on Elon Musk and Tesla's potential bid to shake-up the UK electricity market, and why New Zealand's lifting of its 2018 oil and gas drilling ban is unlikely to alleviate the industry pain and energy shortages it caused anytime soon.
Well that's all for the moment folks! More musings to follow soon. Keep reading, keep it here, keep it 'crude'!
To follow The Oilholic on Twitter click here.
To follow The Oilholic on Forbes click here.
To follow The Oilholic on Energy Connects click here.
To email: journalist_gsharma@yahoo.co.uk
© Gaurav Sharma 2025. Photo: Energy analyst Gaurav Sharma on Al Jazeera English TV network. © Al Jazeera, August 2025.
No comments:
Post a Comment