Crude oil prices are lower, still, this morning, despite some supportive news items on the wires. Of course, the Ukraine-related security premium continues to come out of the price, but there is word of another round of North Sea maintenance on the Forties pipeline system will occur in June and July.… Read more
Energy OverView March 4, 2014
Crude oil prices are in retreat, as the Ukraine tensions simmer down. President Putin ended the military excercises on Ukraine’s border, and he denied that the forces in Crimea are Russian regular army, calling them “local forces of self-defense.” The calculus got wild about the possible implications over the whole episode.… Read more
Energy OverView March 3, 2014
Crude oil prices are surging in reaction to the crisis in the Ukraine. It was not clear how the oil market would react. Equities have sold off on the potential for damage to the global economy. Russia has been a bigger and bigger global trading partner, so its isolation would hurt global GDP.… Read more