Tom Kloza
Founder and Oil Analyst at Oil Price Information Service (OPIS)
Independent oil analyst, keynote speaker, co-founder of OPIS. Been covering energy markets since Jimmy Hoffa went missing. [email protected]
Articles
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2 months ago |
tradingview.com | Tom Kloza |Jeff Barber
Nymex Overview: Oil Futures Weaken as Investment Banks Cut Oil Price TargetsOPISPetroleum futures were lower near midday Monday in volatile trading as commodity and equity markets continue to slide on concerns over U.S. tariffs. Crude oil contracts, which rose by $1 or more on a report the Trump administration was considering suspending the tariffs for 90 days, resumed their decline to numbers last seen in 2021, after the White House denied it was considering such a move.
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2 months ago |
morningstar.com | Tom Kloza |Michael Kelly
Commodities analysts at Citigroup on Monday said tariff issues could send Brent values even lower than previously expected, with a short-term visit to $60/bbl or less. The investment house now expects global economies to slow sharply, perhaps inspiring a response from U.S. shale or OPEC and its allies. The $60/bbl target for Brent suggests a further drop of $3.50-$4.50/bbl from current numbers.
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2 months ago |
tradingview.com | Tom Kloza |Michael Kelly
Goldman Projects Possible Outcomes as Trump Tariffs LoomOPISIn a Tuesday afternoon report to clients, commodities analysts at Goldman Sachs addressed how various tariff scenarios might play out for U.S. oil markets. The bank considered the impact of a 10% universal tariff on oil and maintains that heavy crude oil discounts for Canadian barrels might increase but oil would continue to flow since U.S. refiners are uniquely equipped to process the heavy barrels.
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2 months ago |
tradingview.com | Tom Kloza |Jeff Barber
NYMEX Overview: Oil Futures Weaken Weaken on Russia and Ukraine Agreements — OPISCrude oil futures were under pressure at midday after the White House said it reached separate agreements with Ukraine and Russia to ensure safe navigation in the Black Sea and to implement a ban on strikes against energy facilities in the two countries. West Texas Intermediate and Brent contracts backed off morning gains of about 60cts, but selling was limited, in part because of stronger equity markets.
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2 months ago |
tradingview.com | Tom Kloza |Michael Kelly
Walmart Says it Will Have More Than 450 C-Stores by Year's EndWMTBig Box retailer Walmart said Thursday that it plans to have more than 450 Walmart Fuel and convenience stations across 34 U.S. states by the end of this year. The company opened its 400th fueling station in Palm Springs, Calif., in December, so the expansion suggests more than 50 sites are forthcoming in the next nine months.
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California gasoline prices continue to slump relative to spring highs. Illiquid markets but Los Angeles pegged between $2.30-$2.40/gal and Bay Area bid/asked is $2.38/gal/$2.51/gal. These are numbers that should put lots of downward pressure on street prices for gasoline.
Seven & I Holdings, the parent company of 7-Eleven vows to make the next 10 years better than the last 10 years. It’s not clear whether CEO Stephen Hayes Dacus will opt for the near $50-billion buyout from Couche-Tard or go it alone with a separate growth program.
RT @Amena__Bakr: The OPEC+ meeting will take place at 15:30 Vienna time on the 28th of May #OOTT
