Jeff Barber

1 month ago | morningstar.com | Frank Tang |Jeff Barber

ExxonMobil reported a release of hydrogen sulfide gas Friday at its 634,400 b/d Beaumont, Texas, refinery, according to a company filing with the Texas Commission on Environmental Quality on Monday. The company said teams are working to repair the pipe leak and no impacts to the community were reported. ExxonMobil added that the incident is not expected to affect its contractual commitments. OPIS could not reach a company spokesman for additional information by the time of publication.

1 month ago | tradingview.com | Tom Kloza |Jeff Barber

Nymex Overview: Petroleum Futures Track Sharp Drops in Equities, Commodities — OPISCrude oil futures retreated to levels last seen in 2024 late Tuesday morning, joining a selloff in equities, cryptocurrency and other commodities. West Texas Intermediate crude futures settled below $70/bbl in seven December trading sessions. The NYMEX April WTI contract traded as low as $68.83/bbl Tuesday morning with the high and low separated by more than $2.30.

2 months ago | tradingview.com | Frank Tang |Jeff Barber

Tariffs on Canadian Oil to Hurt Midwest Refiners' Costs, Logistics, RBC Says — OPISPotential U.S. tariffs on Canadian oil imports would likely raise operating costs for Midwest refineries, which would have to make changes to process lighter grades of crude or find other sources of heavy crude, the Royal Bank of Canada said on Wednesday. The bank said imports of Canadian oil can strengthen U.S. energy reserves and lower consumer costs by helping meet growing U.S. demand.

Jan 9, 2025 | morningstar.com | Tom Kloza |Jeff Barber

Citigroup commodity analysts on Thursday boosted their outlook for first-quarter Brent crude prices $71/bbl from $65/bbl earlier. While the analysts maintained a bearish price outlook for the year, they said frigid weather and "potentially larger geopolitical impacts" on Iranian exports was behind the upward Q1 revision.

Jan 8, 2025 | morningstar.com | Tom Kloza |Jeff Barber

Chevron Chief Executive Mike Wirth on Wednesday said the company expects more crude oil production from its Permian Basin holdings and pointed to payoffs from its assets in Kazakhstan and Guyana. In remarks at the Goldman Sachs Clean Tech and Utilities Conference, Wirth also said he is confident that the incoming Trump administration will pursue policies designed to help make energy more affordable.