Energy News
This regularly updated section will explore the intricacies of the oil and gas industry from various vantage points. If you would like more specific information about Magna Resources, please Contact Us.
Oil Climbs as Strong Fuel Market Assuages Recession Worries
https://energynow.com/2022/06/oil-climbs-as-strong-fuel-market-assuages-recession-worries/?source=de&wtv=rrust@magna-resources.com
Oil Holds Gains as China Eases Curbs, Goldman Boosts Forcasts
https://energynow.com/2022/06/oil-holds-gains-as-china-eases-curbs-goldman-boosts-forecasts/?source=de&wtv=rrust@magna-resources.com
Oil Gains Near $120 as Saudi price Boost Shows Damand Confidence
https://energynow.com/2022/06/oil-gains-near-120-as-saudi-price-boost-shows-demand-confidence/?source=de&wtv=rrust@magna-resources.com
OPEC fails to increase oil output amid capacity troubles
https://www.worldoil.com/news/2022/5/4/opec-fails-to-increase-oil-output-amid-capacity-troubles/
Oil Inventories Fall by More Than Expected by 1.2M Barrels Last Week: API -Breaking
https://www.streetregister.com/2022/06/01/oil-inventories-fall-by-more-than-expected-by-1-2m-barrels-last-week-api-breaking/
US Crude Oil, Fuel Stockpiles Fall in Tight Market: EIA
https://www.hartenergy.com/exclusives/us-crude-oil-fuel-stockpiles-fall-tight-market-eia-200491?mkt_tok=NDMzLU9ESy04ODkAAAGExPrhcLZPaNX3_g1TrX3JAE5zDbLOwRFaiUqVUb_E9jbTbYjZamnMWEIyVSJe63Vu5OOvRc5kYKDth3NohzWWxlEmqzjWvqU22zjnmBMP3rU
OPEC Members Consider Suspending Russia From Oil Deal, New Report Says
https://www.dailywire.com/news/opec-members-consider-suspending-russia-from-oil-deal-new-report-says
Oil Roars to Sixth Monthly Advance on EU Ban, China's Reopening
https://energynow.com/2022/05/oil-roars-to-sixth-monthly-advance-on-eu-ban-chinas-reopening/?source=de&wtv=rrust@magna-resources.com
Oil Up as Stockpiles Tighten Ahead of Summer Driving Surge
https://www.rigzone.com/news/wire/oil_up_as_stockpiles_tighten_ahead_of_summer_driving_surge-26-may-2022-169133-article/
ICYMI - Russia's Novak expects oil output to shrink 8.4% this year
https://www.forexlive.com/news/icymi-russias-novak-expects-oil-output-to-shrink-up-to-84-this-year-20220526/
Oil Climbs as Report Shows Tightening US Gasoline Stockpiles
https://energynow.com/2022/05/oil-climbs-as-report-shows-tightening-us-gasoline-stockpiles/?source=de&wtv=rrust@magna-resources.com
Oil Inventories Down to Dangerously low Point
https://www.rigzone.com/news/oil_inventories_down_to_dangerously_low_point-24-may-2022-169095-article/
Oil Inventories Unexpected Rise by 1.6M Barrels Last Week: API - Breaking
https://www.streetregister.com/2022/05/10/oil-inventories-unexpectedly-rise-by-1-6m-barrels-last-week-api-breaking/
Oil Set for Consecutive Weekly Gains as Market Tightens Up
https://energynow.com/2022/05/oil-set-for-consecutive-weekly-gains-as-market-tightens-up/?source=de&wtv=rrust@magna-resources.com
Oil jumps the most in three weeks as EU plans strictest ban yet
https://www.worldoil.com/news/2022/5/4/oil-jumps-the-most-in-three-weeks-as-eu-plans-strictest-ban-yet/
OPEC fails to increase oil output amid capacity troubles
https://www.worldoil.com/news/2022/5/4/opec-fails-to-increase-oil-output-amid-capacity-troubles/
Oil Heads for Longest Run of Monthly Gains Since Early 2018
https://energynow.com/2022/04/oil-heads-for-longest-run-of-monthly-gains-since-early-2018/?source=de&wtv=rrust@magna-resources.com
Oil Soars with Expectation of the EU Ban on Russian Crude
https://www.rigzone.com/news/wire/oil_soars_with_expectation_of_the_eu_ban_on_russian_crude-28-apr-2022-168822-article/
U.S. oil producers may be facing supply chain issues as they increase capital expenditure
https://www.eia.gov/petroleum/weekly/archive/2022/220427/includes/analysis_print.php
A New Texas Oil Boom Is Coming, Finally
https://www.texasmonthly.com/news-politics/new-texas-oil-boom/
Oil prices may not drop even as companies drill more
https://www.eenews.net/articles/oil-prices-may-not-drop-even-as-companies-drill-more/
Russia to suspend natural gas supplies to Poland, Bulgaria
https://www.bignewsnetwork.com/news/272520681/russia-to-suspend-natural-gas-supplies-to-poland-bulgaria
A European Ban on Russian Oil?
https://investorplace.com/2022/04/a-european-ban-on-russian-oil/
Oil Pushes Higher as Array of Supply Risks Eclipse China Concern
https://energynow.com/2022/04/oil-pushes-higher-as-array-of-supply-risks-eclipse-china-concern/?source=de&wtv=rrust@magna-resources.com
Oil Holds Advance Above $100 as Putin Vows to Continue War
https://energynow.com/2022/04/oil-holds-advance-above-100-as-putin-vows-to-continue-war/?source=de&wtv=rrust@magna-resources.com
U.S. crude output will rise at slower-than-expected pace, EIA says
https://www.worldoil.com/news/2022/4/12/u-s-crude-output-will-rise-at-slower-than-expected-pace-eia-says/
Oil Gains as Russia Curbs, Key Terminal's Halt Boost Supply Risk
Oil Inventories Fell by 4.3 Million Barrels Last Week: API
https://www.investing.com/news/coronavirus/oil-inventories-fell-by-43-million-barrels-last-week-api-2789734
Here Are 3 Reasons Why U.S. Oil Demand Is Holding Up at $100-Plus Prices
https://www.bnnbloomberg.ca/here-are-3-reasons-why-u-s-oil-demand-is-holding-up-at-100-plus-prices-1.1741448
EU's push for Persian Gulf LNG set to worsen energy price inflation
https://balkangreenenergynews.com/eus-push-for-persian-gulf-lng-set-to-worsen-energy-price-inflation/
USA Condemns Attacks Reportedly Targeting Saudi Oil Site
https://www.rigzone.com/news/usa_condemns_attacks_reportedly_targeting_saudi_oil_site-22-mar-2022-168338-article/
Oil is More Likely to Stay Risky and Costly as World Deals with Supply Shortages
https://automobilnews.eu/oil-is-likely-to-remain-volatile-and-expensive-as-world-deals-with-supply-shortages-news-by-automobilnews-eu/
Oil Surges as Risk Grows of Russian Supply-Hit From Ukrain War
https://energynow.com/2022/03/oil-surges-as-risk-grows-of-russian-supply-hit-from-ukraine-war/?source=de&wtv=rrust@magna-resources.com
Oil Rallies With Focus on Stockpile Draw, Ukraine
https://energynow.com/2022/01/oil-rallies-with-focus-on-stockpile-draw-ukraine/?source=de&wtv=rrust@magna-resources.com
Wall Street Is Making More $100 Oil Calls on Tightening Supply
https://energynow.com/2022/01/wall-street-is-making-more-100-oil-calls-on-tightening-supply/?source=de&wtv=rrust@magna-resources.com
Traders Bet That Oil at $100 Is a Question of When, Not If
https://energynow.com/2022/01/traders-bet-that-oil-at-100-is-a-question-of-when-not-if/?source=de&wtv=rrust@magna-resources.com
Oil Hits Fresh Seven-Year High as IEA Turns Bullish on Outlook
https://energynow.com/2022/01/oil-hits-fresh-seven-year-high-as-iea-turns-bullish-on-outlook/?source=de&wtv=rrust@magna-resources.com
JP Morgan Sees OPEC Spare Capacity Falling Through 2022 - Oil Prices Rising Sharply
https://energynow.com/2022/01/jp-morgan-sees-opec-spare-capacity-falling-through-2022-oil-prices-rising-sharply/?source=de&wtv=rrust@magna-resources.com
Oil Prices Could Hit $100 As Demand Outstrips Supply
https://energynow.com/2022/01/oil-prices-could-hit-100-as-demand-outstrips-supply/?source=de&wtv=rrust@magna-resources.com
Oil Steady After Rally as Mild Omicron Hit Lets Market Tighten
https://energynow.com/2022/01/oil-steady-after-rally-as-mild-omicron-hit-lets-market-tighten/?source=de&wtv=rrust@magna-resources.com
Oil Trades at Two-Month High With Agencies Seeing Tighter Market
https://energynow.com/2022/01/oil-trades-at-two-month-high-with-agencies-seeing-tighter-market/?source=de&wtv=rrust@magna-resources.com
Oil Inventories fall by 1M Barrels Last Week, Gas Stockpiles Jump: API
https://www.investing.com/news/commodities-news/oil-inventories-fall-by-1m-barrels-last-week-gas-stockpiles-jump-api-2736302
BP Says Oil Demand Is Back Above 100 Million Barrels a Day
https://energynow.com/2021/11/bp-says-oil-demand-is-back-above-100-million-barrels-a-day/?source=de&wtv=rrust@magna-resources.com
Oil Climbs Above $83 With U.S. Supplies Tightening
https://energynow.com/2021/10/oil-climbs-above-83-in-new-york-with-u-s-supplies-tightening/?source=de&wtv=rrust@magna-resources.com
Oil Touches Multiyear Highs Energy Crunch Intensifying
https://energynow.com/2021/10/oil-touches-multiyear-highs-with-energy-crunch-intensifying/?source=de&wtv=rrust@magna-resources.com
Oil Surges Past $80 With Global Power Crises Set to Boost Demand
https://energynow.com/2021/10/oil-surges-past-80-with-global-power-crisis-set-to-boost-demand/?source=de&wtv=rrust@magna-resources.com
Iraqi Oil Minister Deems Oil at $75-$80 a Barrel Fair to Producers and Consumers
https://www.hellenicshippingnews.com/iraqi-oil-min-deems-oil-at-75-80-a-barrel-fair-to-producers-and-consumers/
U.S. Worried Energy Supply Not Meeting Demand, Top Biden Advisor Says
https://energynow.com/2021/10/u-s-worried-energy-supply-not-meeting-demand-top-biden-adviser-says/?source=de&wtv=rrust@magna-resources.com
Oil Ends Week Surging to $80 as Global Energy Crisis THreatens Supplies
https://energynow.com/2021/10/oil-heading-for-seventh-weekly-gain-with-wti-nearing-80/?source=de&wtv=rrust@magna-resources.com
Crude Oil Prices Expected To Continue Rising
http://wilmingtonjournal.com/crude-oil-prices-expected-to-continue-rising/?utm_source=rss&utm_medium=rss&utm_campaign=crude-oil-prices-expected-to-continue-rising
Oil Likely to Hit $100 a Barrel, Says Top Trader
https://www.hartenergy.com/exclusives/oil-likely-hit-100-barrel-say-top-traders-194666?mkt_tok=NDMzLU9ESy04ODkAAAF9tWMDslhCdmxhpHdFHjpONG8yWHu_A7XPnKJMNmjc92TFrK-FqPieB_Rs7PxrsaCk63c90TEHF0rCSaRzNY84bV9-FGYv6KpT8TyYL4uUTCU
US Crude Oil Stockpiles Drop Sharply: Report
https://www.hartenergy.com/exclusives/us-crude-oil-stockpiles-drop-sharply-report-194672?mkt_tok=NDMzLU9ESy04ODkAAAF9tWMDskXDI14PbcWwbRwTOPwMW0P9NJaitFhWw4032KEuq1kFAzXEtMCZJrum7y8tIXQrErLvVbZ-mHWpoFQL-u7IkZzZYktBO2vAvVDRJpA
Oil Climbs Near Highest Since 2018 With More Iran Talks Expected
https://energynow.com/2021/06/oil-climbs-near-highest-since-2018-with-more-iran-talks-expected/?source=de&wtv=rrust@magna-resources.com
Key WTI Spread Signals U.S. Oil Squeeze Heading Into Summer
https://energynow.com/2021/05/key-wti-spread-signals-u-s-oil-squeeze-heading-into-summer/?source=de&wtv=rrust@magna-resources.com
Oil Prices Up Sharply as U.S. Official raises Doubt That Iran Will Comply With Nuclear Commitments
https://www.msn.com/en-us/money/markets/oil-prices-climb-as-u-s-official-reportedly-raises-doubt-that-iran-will-comply-with-nuclear-commitments/ar-AAKkjp1?ocid=oie8dlpg
Oil Prices on Track for Highest Finish Since March, Bouyed by Trader Optimism Over the Demand
https://www.msn.com/en-us/money/markets/oil-prices-on-track-for-highest-finish-since-march-buoyed-by-trader-optimism-over-the-demand-outlook/ar-BB1gOSdy
IEA: Oil Demand Recovery Outpacing Growth in Supply
https://www.hartenergy.com/news/iea-oil-demand-recovery-outpacing-growth-supply-194045?mkt_tok=NDMzLU9ESy04ODkAAAF9ASSXW_joK23958-DuXAxXMj0z95Q2Rs0TdzvU0afpx0ZCenkfQPkpecoUaH4DLN_lpBqcZirVk2UgUC63Z665Q4_k1PsLWJzFr6iWxfQnA8
U.S. Oil Prices Turned Negative a Year Ago Today. Analysts Now See It Rising 20% to Above $75 as Countries Plot a Return to Normality
https://www.msn.com/en-us/money/markets/the-us-oil-price-turned-negative-a-year-ago-today-analysts-now-sees-it-rising-20percent-to-above-dollar75-as-countries-plot-a-return-to-normality/ar-BB1fRlxA?ocid=oie8dlpg&li=BBnbfcL
U.S. House Panel Advances Bill Allowing Antitrust Suits Against OPEC
https://www.msn.com/en-us/money/markets/bill-to-pressure-opec-oil-producer-group-passes-us-house-panel-future-uncertain/ar-BB1fR9SE?ocid=oie8dlpg&li=BBnb7Kz
Oil Prices Rise on Weaker Dollar, Likely Drawndown in U.S. Stocks
https://www.msn.com/en-us/money/markets/oil-prices-rise-on-weaker-dollar-likely-drawdown-in-us-stocks/ar-BB1fPHwz?ocid=oie8dlpg&li=BBnb7Kz
Oil Prices Went Negative a Year Ago: Here's What Traders Have Learned Since
https://www.msn.com/en-us/money/markets/oil-edges-higher-with-weaker-dollar-amid-mixed-demand-outlook/ar-BB1fNvPg?ocid=oie8dlpg&li=BBnb7Kz&pfr=1
Oil Edges Higher With Weaker Doller Amid Mixed Demand Outlook
https://www.msn.com/en-us/money/markets/oil-edges-higher-with-weaker-dollar-amid-mixed-demand-outlook/ar-BB1fNvPg?ocid=oie8dlpg&li=BBnb7Kz&pfr=1
Oil Prices Gain as Traders Mull Demand Cues, Supply Propsects
https://www.msn.com/en-us/money/markets/oil-prices-gain-as-traders-mull-demand-cues-supply-prospects/ar-BB1fOoeE?ocid=oie8dlpg&li=BBnb7Kz
Historic Oil Glut Amassed During the Pandemix Has Almost Gone
https://www.msn.com/en-us/money/markets/historic-oil-glut-amassed-during-the-pandemic-has-almost-gone/ar-BB1fM3Lx?ocid=oie8dlpg&li=BBnb7Kz
Oil Prices Hit One-month High as IEA, OPEC Raise Forcasts
https://www.hartenergy.com/exclusives/oil-prices-hit-one-month-high-iea-opec-raise-forecasts-193545?mkt_tok=NDMzLU9ESy04ODkAAAF8c_PDEXZHmtXrO0Iz8NtqojM-Ch6nfBkITEbaFRsOXkMlpS3JIQ1skoKoEWITdo8gVqKuLrXZ4Y2OtuN8OfWPtMbHeLya4vQ26d5ezeEEHO0
U.S. Oil Prices Top $60 a Barrel on Hints of an Uptick in Demand
https://www.msn.com/en-us/money/markets/oil-prices-get-a-lift-from-china-data-as-opec-report-suggests-an-uptick-in-demand/ar-BB1fBAPn?ocid=oie8dlpg&li=BBnbfcL&pfr=1
Robust Chinese Demand Fuels Oil Market Recovery
https://oilprice.com/Energy/Crude-Oil/Robust-Chinese-Demand-Fuels-Oil-Market-Recovery.html
Crude Oil Rises Above $43 Per Barrel on Improved Demand
https://investorsking.com/crude-oil-rises-above-43-per-barrel-on-improved-demand/
$190 oil sounds crazy. But JPMorgan thinks it's possible even after pandemic
https://www.msn.com/en-us/money/markets/dollar190-oil-sounds-crazy-but-jpmorgan-thinks-its-possible-even-after-the-pandemic/ar-BB15FZGy?li=BBnbfcN
Saudi, Russia Reach Deal on Oil Cuts
https://www.hartenergy.com/news/saudi-russia-reach-deal-oil-cuts-187913?mkt_tok=eyJpIjoiWkdKbVpHVTNaV00zTjJFeiIsInQiOiJNOTV4VmxjM1wvcUdweWQyM3lZVk9ZVkpocjNJdUppRFwvcktoTkZWRTlKMDZzdFF4cGxYXC9qTFcrRVhCUUxnU1ZRSVcxU2MzNXkrMXJrdzZhTDNUU2dQWlhDRWM2QWFnNzh1ZVNQSEdKN21kZWh6bGttaGJ0WXhDcVdsV2pBcmc1SiJ9
OPEC, Russia Discuss Extending Oil Cuts for 1-2 Months
https://www.hartenergy.com/news/opec-russia-discuss-extending-oil-cuts-1-2-months-187859?mkt_tok=eyJpIjoiTkdZME9ERXhOekJoTVROaCIsInQiOiJIZ3lsY2ZVbHo0emJXQlRmc0tSbjdYRXRtWTFGYzVIenpGRkJPR0Zlb3dLa2xpZmVqdmxGOW0yZzZrXC9SMjBBVXdLdzlFU2JVYmpkMG9PM09mXC9KZmZ5U1NzXC91eEppcmNVRG1kNEpmQkpxbmFPYlBmZDhYbnEwVmxcL25qZFd6MW8ifQ%3D%3D
Demand Rise, Output Cuts Could Mean Oil Market Balance in June
https://www.hartenergy.com/news/demand-rise-output-cuts-could-mean-oil-market-balance-june-187717?mkt_tok=eyJpIjoiWVRaall6QmpNelpoTkdKbCIsInQiOiIwaGtXejBWeVZvczg0U3hRZmkraHhIWkxJSW8zWmNrb3E2Tyt4WFdWTE5FTm5Bc0pYU1VBNlwvQXB6VlVodEZ1UFdvQlFLTktsUnFtM2VFeExqc2huVktsR2w4cm5Fcm5cL2c4aWpwZXFHUXErREpKTnB5WWNWNGxKMmZPdE5UZlJpIn0%3D
Baker Hughes: U.S. rig count falls to lowest on record since 1987
https://pboilandgasmagazine.com/baker-hughes-u-s-rig-count-falls-to-lowest-on-record-since-1987/?utm_source=Oil+%26+Gas+Newsletter&utm_campaign=70d011c005-EMAIL_CAMPAIGN_2018_07_05_06_55_COPY_01&utm_medium=email&utm_term=0_59befaec6c-70d011c005-90311033
Oil Continues to Rise With Demand Rebound Lifting Prices
https://energynow.com/2020/05/oil-continues-to-rise-with-demand-rebound-lifting-prices/?source=de&wtv=rrust@magna-resources.com
Chinese Oil Demand Is Almost Back to Pre-Virus Crisis Levels
https://energynow.com/2020/05/chinese-oil-demand-is-almost-back-to-pre-virus-crisis-levels/?source=de&wtv=rrust@magna-resources.com
CEO of Top US Shale Producer Sees Oil Price Recovery Continuing
https://www.hartenergy.com/news/ceo-top-us-shale-producer-sees-oil-price-recovery-continuing-187470?kt_tok=eyJpIjoiT1ROaU5EZ3dORFU0TVRBMiIsInQiOiJySkRMeW93Z05NT0JnTk5iQTVDYXpoTCs5SVwveThIYXBaMldrWWx4VDVNdXl4Y0w2Y2RySW5SRVdaSkNLcms4N21WVGdsVVdSdTFST1ZxWklRKzZXbXhZc2VvVGpVQkFPVk5zdW5ZRE9QRnczSFk4ZjFRa2NWYnJKXC9NN3owcmZRIn0%3D
North American Oil Producers Cut Output Quicker Than Some Expected
https://www.hartenergy.com/news/north-american-oil-producers-cut-output-quicker-some-expected-187473?mkt_tok=eyJpIjoiT1ROaU5EZ3dORFU0TVRBMiIsInQiOiJySkRMeW93Z05NT0JnTk5iQTVDYXpoTCs5SVw
veThIYXBaMldrWWx4VDVNdXl4Y0w2Y2RySW5SRVdaSkNLcms4N21WVGdsVVdSdTFST1ZxWklRKzZXbXhZc2VvVGpVQkFPVk5zdW5ZRE9QRnczSFk4ZjFRa2NWYnJKXC9NN3owcmZRIn0%3D
Oil touches $70 as US-Iran clash sparks concerns over supplies
https://www.msn.com/en-us/money/markets/oil-touches-dollar70-as-us-iran-clash-sparks-concerns-over-supplies/ar-BBYDsO8
Oil Traders See Little in Real World to Justify Slump in Crude
https://energynow.com/2019/05/oil-traders-see-little-in-real-world-to-justify-slump-in-crude/?source=de&wtv=rrust@magna-resources.com
Oil hits 2019 high on US plan to tighten squeeze on Iran
https://www.msn.com/en-us/money/markets/oil-hits-2019-high-on-us-plan-to-tighten-squeeze-on-iran/ar-BBW9RB8?li=BBnbfcN&ocid=oie8dlpg
The Biggest Saudi Oil Field Is Fading Faster Than Anyone Guessed
https://www.bloomberg.com/news/articles/2019-04-02/saudi-aramco-reveals-sharp-output-drop-at-super-giant-oil-field
The U.S. Just Became a Net Oil Exporter for the First Time in 75 Years
https://www.bloomberg.com/news/articles/2018-12-06/u-s-becomes-a-net-oil-exporter-for-the-first-time-in-75-years
U.S. SHALE OIL INDUSTRY: Catastrophic Failure Ahead
https://srsroccoreport.com/u-s-shale-oil-industry-catastrophic-failure-ahead/
Deep The Denial
https://www.oilystuffblog.com/single-post/2018/10/19/Deep-The-Denial
Opinion: Don't rule out $400 oil if the US sanctions Saudi Arabia
https://www.msn.com/en-us/money/markets/opinion-dont-rule-out-dollar400-oil-if-the-us-sanctions-saudi-arabia/ar-BBOoDzr?li=BBnbfcN
Crude Rises as Mystery of Missing Saudi Critic Strains Alliance
https://www.msn.com/en-us/money/markets/crude-rises-as-mystery-of-missing-saudi-critic-strains-alliance/ar-BBOoGHj?li=BBnb7Kz
$100 a barrel? Will Iran sanctions and Venezuela crisis bring oil price spike?
https://www.theguardian.com/business/2018/oct/12/oil-price-barrel-markets-iran-sanctions
As Oil Industry Recovers From a Glut, a Supply Crunch Might Be Looming
https://www.wsj.com/articles/as-oil-industry-recovers-from-a-glut-a-supply-crunch-might-be-looming-1532775605
Oil surges above $75 as supply outages outpace OPEC