Julianne Geiger

1 week ago | oilprice.com | Julianne Geiger

Crude oil inventories in the United States saw an increase of 500,000 barrels during the week ending April 11, according to new data from the U.S. Energy Information Administration released on Wednesday. Crude oil prices were trading up in a rare show of strength prior to the crude data release by the U.S. Energy Information Administration after a sharp dip over the last couple of weeks in the wake of the tariff war between the United States and China.

1 week ago | oilprice.com | Julianne Geiger

The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 2.4 million barrels for the week ending April 11. Analysts expected a loss of 1.680 million for the week. The API estimated a 1.057 million barrel drop in the prior week. So far this year, crude oil inventories have climbed more than 24 million barrels, according to Oilprice calculations of API data.

1 week ago | oilprice.com | Julianne Geiger

HSBC has shaved a few bucks off its oil price crystal ball this week, citing Trump’s tariff tirades and OPEC+’s decision to open the spigots wider than expected. In a note released Tuesday, the bank cut its 2025 Brent forecast to $68.50 per barrel (down from $73), and its 2026 estimate to $65 (from $70). That’s a notable downgrade, especially as the market tries to figure out if the tariff-induced panic is just short-term, or whether it is the start of a longer slog.

1 week ago | oilprice.com | Julianne Geiger

With the next round of EU sanctions on Russia due for renewal in July, Brussels is cooking up a workaround to one persistent problem: Hungary. Specifically, Hungary’s Viktor Orbán, who’s been repeatedly threatening to walk unless he gets what he wants. Traditionally, renewing sanctions requires unanimous support from all 27 EU member states.

1 week ago | oilprice.com | Julianne Geiger

Oil prices are sagging like a tired trampoline, and U.S. shale producers are feeling the bounce—just not in a good way. With WTI dancing around $60 and analysts wringing their hands over breakeven levels near $65, you'd be forgiven for assuming the shale patch was in full panic mode. But U.S. Energy Secretary Chris Wright—former CEO of Liberty Energy and now the government’s top oil whisperer—seems utterly unbothered.