Tom Kool

London

Editorial Operations Head and Contributor at Oilprice.com

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Articles

Crude Oil Gains 2% on Hopes of Tariff War Truce

1 week ago | oilprice.com | Tom Kool

Crude oil edged more than 2% higher on Wednesday, driven primarily by hopes that tensions will ease in the U.S.-China trade conflict and U.S. inventory data. At 1:28 p.m. ET, Brent crude was trading up 2.09% at $66.02, while the U.S. benchmark, West Texas Intermediate (WTI), was trading up 2.12% at $62.63.
Saudi Aramco Makes 14 New Discoveries as Oil Prices Bite

2 weeks ago | oilprice.com | Tom Kool

Saudi Aramco, the Kingdom’s giant national oil company, on Wednesday, announced the discovery of 14 new oil and natural gas that could add over 80 million cubic feet of gas per day and over 8,000 barrels of oil per day to Saudi Arabia’s fossil fuels expansion efforts, Arab News reports.
Trump's Tariffs Trigger Biggest Oil Price Drop Since 2021

3 weeks ago | oilprice.com | Tom Kool

Oil prices plunged this week as a one-two punch of sweeping U.S. import tariffs and an unexpected OPEC+ supply hike erased $10 per barrel from global benchmarks. Friday, April 04, 2025 The combined effect of Donald Trump’s import tariffs, OPEC+’s inopportune decision to speed up the unwinding of production cuts and China’s retaliatory actions have wiped off $10 per barrel from global oil prices, with ICE Brent falling below $65 per barrel for the first time since August 2021.
Your Next iPhone Could Cost $2,300—But Oil Prices Might Stay Stuck | OilPrice.com

3 weeks ago | oilprice.com | Tom Kool

President Trump’s sweeping new tariffs are sending shockwaves through global markets, sparking concerns across industries—from tech to energy. Announced Wednesday, the new tariff package imposes a minimum 10% duty on all U.S. imports and much higher rates for countries with significant trade surpluses with the United States. China, facing a 54% tariff, is expected to be among the hardest hit. Apple could feel the impact more than most.
Oil Drops, Markets Rattle as Trump Unleashes Tariffs

3 weeks ago | oilprice.com | Tom Kool

Oil prices slipped on Thursday after initially climbing more than $1 during Wednesday’s trading session, as markets digested a sweeping new round of global tariffs announced by an aggrieved U.S. President Donald Trump from the Rose Garden. The announcement rattled equity markets and fueled uncertainty across commodities, despite initial gains.
Europe’s LNG Imports Hit Seasonal High

4 weeks ago | oilprice.com | Tom Kool

Europe is taking advantage of weak Asian demand for liquefied natural gas and has boosted its LNG imports to the highest level ever for this time of the year, according to vessel-tracking data compiled by Bloomberg.
WTI Jumps to $70 as U.S. Sanctions Rekindle Supply Concerns

1 month ago | oilprice.com | Tom Kool

Oil prices jumped early on Thursday as concerns about supply with intensified U.S. sanctions on Iran and Venezuela trumped demand woes and the possibility of peace in Ukraine. As of 10:45 a.m, ET on Thursday, the front-month futures contract of the U.S. benchmark, WTI Crude, was up by more than 2%, trading at $70.09 per barrel, up by 2.14% on the day. The international benchmark, Brent Crude, was up by 1.94% at $73.94.
Venture Global Gains Approval for Higher LNG Processing Capacity

2 months ago | oilprice.com | Tom Kool

The Federal Energy Regulatory Commission (FERC) has allowed Venture Global to raise the processing and export capacity of its latest LNG project, Plaquemines in Louisiana. The approval means that Venture Global is now allowed to increase the Plaquemines LNG capacity to 27.2 million metric tons per year, up from 24 million tons previously planned. Plaquemines LNG shipped its first commissioning cargo at the end of December, exporting LNG to Germany.
Phillips 66 Books Smaller-Than-Feared Loss in Q4

2 months ago | oilprice.com | Tom Kool

Phillips 66 (NYSE: PSX) reported a loss for the fourth quarter, as expected, but this loss was smaller than analysts had forecast as the refiner’s renewable fuels division booked a profit in the last quarter of 2024. Phillips 66 booked an adjusted loss of $61 million, or a loss of $0.15 per share, for the fourth quarter, compared to earnings of $859 million for the third quarter.
Oil CEO John Hess: Oil Markets Close To Being Balanced

Jan 7, 2025 | oilprice.com | Tom Kool

Speaking at the Goldman Sachs Energy, CleanTech, and Utilities Conference in Miami, Hess CEO John Hess shared his perspective on the oil market, suggesting it is closer to being balanced rather than oversupplied in 2025. This outlook comes despite concerns over demand from China and increased production by U.S. and non-OPEC producers. Hess expressed optimism about the shale oil market and the company’s growing prospects in Guyana.

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