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☆ Demand and geopolitics will be crude oil's next driver, says Rapidan's Bob McNally
▼ + stars: | 2024-04-19 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDemand and geopolitics will be crude oil's next driver, says Rapidan's Bob McNallyBob McNally, Rapidan Energy Group Founder & President, joins 'Closing Bell Overtime' to talk the state of the energy markets as Middle East conflicts push oil higher.

Persons: Bob McNally Bob McNally Organizations: Rapidan Energy

☆ Oil prices could spike to $100 if Iran directly attacks Israel, analyst says
▼ + stars: | 2024-04-11 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

The price of global benchmark Brent crude oil could spike to $100 a barrel if Iran directly attacks Israel, a former senior White House energy official said. @LCO.1 YTD mountain Brent crude oil, YTD Oil rallied last week after a missile attack destroyed Iran's consulate in Damascus, Syria, killing seven Iranian military officials. "If Iran attacks from its territory, Israel will react and attack Iran," Israeli Foreign Minister Israel Katz said on the social media platform X , tagging Ayatollah Khamenei. Defense Secretary Lloyd Austin made clear that the Biden administration is worried about rising energy prices during congressional testimony Tuesday. "Certainly, those attacks could have a knock-on effect in terms of the global energy situation," Austin told the Senate Armed Services Committee.

Persons: Bob McNally, McNally, George W, Brent, YTD Oil, Israel, Ayatollah Ali Khamenei, Khamenei, Israel Katz, Biden, terrify, Daniel Yergin, Yergin, CNBC's, Natasha Kaneva, Lloyd Austin, Austin Organizations: Brent, White House, Rapidan, Bloomberg News, YTD, Israel, Iran, Rapidan Energy, Biden, P Global, JPMorgan, Defense, Senate Armed Services Committee Locations: Iran, Israel, U.S, Washington, Damascus, Syria, OPEC, Tehran, Islamic Republic, Strait, Hormuz, Persian, Kyiv, Ukraine

☆ IEA's forecast for oil demand to peak this decade is wrong: Analyst
▼ + stars: | 2024-02-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIEA's forecast for oil demand to peak this decade is wrong: AnalystBob McNally of Rapidan Energy Group explains why he doesn't expect global oil demand to peak in the next decade.

Persons: Bob McNally Organizations: Bob McNally of Rapidan Energy Group

☆ Oil prices could spike 20%, possibly double if Middle East conflict disrupts Strait of Hormuz
▼ + stars: | 2024-01-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +6 min

Shipping can be rerouted away from the Red Sea, but crude would be essentially trapped if the strait is shut down, Struyven said. A prolonged disruption in the strait could eventually double oil prices, he said. McNally thinks the market should be factoring in a $12 geopolitical risk premium in oil prices right now. Wirth told CNBC's Sullivan that Chevron is currently working with the U.S. Navy to protect its vessels transiting the Red Sea. "Hopefully, if it doesn't escalate further, we'll be OK — even if there has to be a wholesale diversion of shipments around the Red Sea," Granholm said.

Persons: you've, Daan Struyven, Goldman Sachs, CNBC's Brian Sullivan, Struyven, Bob McNally, McNally, Bush, Antony Blinken, Daniel Yergin, Yergin, Michael Wirth, Tehran's, Wirth, CNBC's Sullivan, Joe Biden's, Jennifer Granholm, Granholm, Israel, Benny Gantz, Gantz, Biden's, Bob Yawger, Yawger, Brent Organizations: Shipping, Rapidan Energy Group, National Security Council, P Global, Brent, Chevron, U.S . Navy, NBC News . Energy, Mizuho, Energy Information Agency, Gulf Locations: Red, Iran, Hormuz, Persian, Israel, Strait, Yemen, Danish, U.S, Lebanon, Beirut, Lebanese, Islamic Republic, The U.S, Europe, South Africa, United States, East

☆ Oil prices slip even as Middle East tensions spike, as investors eye Fed meeting
▼ + stars: | 2023-10-30 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

In an aerial view, the Valero Houston refinery seen on August 28, 2023 in Houston, Texas. Oil prices dipped even after Israel sent ground forces into the Gaza Strip, raising tensions in the Middle East, as investors closely monitor the U.S. Federal Reserve's monetary policy meeting later this week. He said the ground operations were "limited so far" and noted other macroeconomic concerns. Oil prices surged late Friday, with Brent jumping above $90 per barrel as Israel said its troops were ‘increasing the ground operation’ in Gaza as it seeks to eradicate the militant group Hamas. "While a major oil supply disruption is not our base case, the oil market last week became a little too complacent about the likelihood of a major Israeli ground incursion in Gaza, and the risk of a wider regional war," McNally continued.

Persons: Israel, Brent, Bob McNally, Benjamin Netanyahu, McNally Organizations: . Federal, U.S . West Texas, Rapidan Energy Group, CNBC, Hamas Locations: Valero Houston, Houston , Texas, Gaza, ., U.S, Israel

☆ Iran is back to being a 'pretty hefty' oil producer, says Rapidan's Bob McNally
▼ + stars: | 2023-10-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIran is back to being a 'pretty hefty' oil producer, says Rapidan's Bob McNallyHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Bob McNally, Brian Sullivan, “ Organizations: Iran, CNBC

☆ An 'extended war'? Markets may be underestimating the Israel-Hamas conflict
▼ + stars: | 2023-10-11 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +6 min

Oil prices jumped 4% on Monday before shrugging off those gains in subsequent sessions, and gold prices have inched higher by a little over 1% since the attack. "Global markets have yet to fully price the inflation risks from developments — from higher oil prices and more defense spending," Savage cautioned. That would cause the premium [of oil prices] to go higher," said Rapidan Energy Group's President Bob McNally. This could spike oil prices well north of $150 per barrel," Alpine Macro said in a note following the incursion. One analyst is of the view that even if the conflict prolongs, its implications on global markets is still largely contained.

Persons: Sameh, BNY Mellon, shrugging, BNY, Bob Savage, Savage, Amir Cohen, Bob McNally, McNally, Antony Blinken, Marko Papic, Mahmud Hams Organizations: Nurphoto, Hamas, U.S ., Swiss, BNY, Stockholm International Peace Research Institute, Reuters, Energy, United Nations, U.S, ., NBC News, Palestinian Health Ministry, Clocktower Group, CNBC, Brigades, Afp, Getty Locations: Gaza City, Israel, Palestinian, Gaza, Ukraine, Stockholm, U.S, Ashkelon, Iran, United States, Persian, Mahmud

☆ Watch CNBC's full interview with RBC's Helima Croft and Rapidan Energy's Bob McNally
▼ + stars: | 2023-10-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with RBC's Helima Croft and Rapidan Energy's Bob McNallyHelima Croft, RBC Capital Markets global head of commodity strategy, and Bob McNally, Rapidan Energy Group founder and president, join 'The Exchange' to discuss the impact warfare in Gaza has on energy markets, normalization talks with Saudi Arabia strained over the Israel-Hamas conflict, and the potential for Biden to tighten Iranian oil supplies entering the United States.

Persons: RBC's Helima Croft, Rapidan, Bob McNally Helima Croft, Bob McNally, Biden Organizations: RBC Capital Markets, Rapidan Energy Group Locations: Gaza, Saudi Arabia, Israel, United States

☆ Israel-Hamas conflict's impact on oil: Watch Iran, says energy consultancy
▼ + stars: | 2023-10-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIsrael-Hamas conflict's impact on oil: Watch Iran, says energy consultancyBob McNally, founder and president of Rapidan Energy Group, says the impact of the Israel-Hamas conflict on the oil market will be "fairly minor" if it doesn't expand to Iran.

Persons: Bob McNally Organizations: Israel, Rapidan Energy Group Locations: Iran, Israel

☆ The market's been 'a little too complacent' about Saudi oil cuts, says energy consulting firm
▼ + stars: | 2023-09-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe market's been 'a little too complacent' about Saudi oil cuts, says energy consulting firmBob McNally, founder and president of Rapidan Energy Group, says "the market is probably a little too complacent about the likelihood that these cuts — all of them — stay in place through the end of the year — especially that 1 million barrel per day [cut]."

Persons: Bob McNally Organizations: Rapidan Energy Group

☆ Before the end of the year crude oil could hit 'if not exceed' $100/barrel: Rapidan's Bob McNally
▼ + stars: | 2023-07-24 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBefore the end of the year crude oil could hit 'if not exceed' $100/barrel: Rapidan's Bob McNallyMatt Maley, Miller Tabak chief market strategist, Bob McNally, Rapidan Energy Group president, joins 'Last Call' to talk the Biden administrations policies that have helped the fossil fuel industry grow.

Persons: Bob McNally Matt Maley, Miller, Bob McNally Organizations: Rapidan Energy Group, Biden

☆ Energy Secretary vows to 100% refill emergency oil stockpile by Biden's second term
▼ + stars: | 2023-07-12 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

Fourth of July gas prices took an almost unprecedented plunge on an annual basis. “I forecast oil prices headed higher this decade and, if that’s right, then SPR refilling will largely stop. Although important symbolically, those 12.3 million barrels represents just a drop in the bucket. The reserve held 346.8 million barrels of oil as of the week ending July 7 according to federal data. Beyond the efforts to buy oil, the Energy Department won approval from lawmakers to cancel Congressionally-mandated sales of 140 million barrels of oil through fiscal 2027.

Persons: Joe Biden, Jennifer Granholm, Biden, ” Granholm, Granholm, it’s “, I’m, ”, Bob McNally, George W, Bush, “, McNally, We’re, Granholm ‘ Organizations: New York CNN Business —, CNN, Energy, Strategic Petroleum Reserve, Energy Department, AAA, Congressionally, Rapidan Energy Locations: Russia, Ukraine, Saudi, Saudi Arabia

☆ Oil market is in 'believe it when I see it mode,' Bob McNally says
▼ + stars: | 2023-07-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOil market is in 'believe it when I see it mode,' Bob McNally saysThe oil market is in a “believe it when I see it mode,” Bob McNally of Rapidan Energy Group tells CNBC’s Dan Murphy at OPEC’s two-day symposium in Vienna.

Persons: Bob McNally, CNBC’s Dan Murphy Organizations: Email, Bob McNally of Rapidan Energy Locations: OPEC’s, Vienna

☆ The oil market is very chill about the chaos in Russia. Should it be?
▼ + stars: | 2023-06-28 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

Oil prices are, incredibly, lower today than they were before the short-lived uprising in Russia — one of the world’s most important players in the oil market. But some oil market veterans wonder if the pendulum has now swung too far in the other direction. An actual disruption to Russia’s oil flows would be a game-changer for the oil market, and perhaps the world economy. That country’s civil war shut down oil export terminals — and even though Libya’s output is much smaller than that of Russia, oil prices shot higher. For now, the oil market is betting there won’t be a repeat of the Libya unrest in Russia.

Persons: Wagner, Russia won’t, Vladimir Putin’s, Jerome Powell, Powell, Putin, ” Helima Croft, ”, Croft, Yevgeny Prigozhin, Bob McNally, George W, Bush, ” McNally, Prigozhin, “, ” Croft, Obama Organizations: New York CNN Business, CIA, RBC Capital Markets, CNN, Rapidan Energy Group, RBC, Strategic Petroleum Reserve Locations: Russia, Ukraine, Moscow, China, Libya

☆ Oil prices pop 2.5% after Saudi Arabia pledges more voluntary production cuts
▼ + stars: | 2023-06-05 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Oil prices jumped following OPEC kingpin Saudi Arabia's decision to cut production by another million barrels per day. On Sunday, the Organization of the Petroleum Exporting Countries and its partners — collectively known as OPEC+ — made no changes to its planned oil production cuts for this year, but coalition chair — and de-factor leader — Saudi Arabia announced further voluntary declines. "The market did not widely expect the Saudi decision to cut production by 1 million barrels per day unilaterally," President of Rapidan Energy Bob McNally told CNBC in an e-mail following the decision. "It once again demonstrated that Saudi Arabia is willing to act unilaterally to stabilize oil prices," McNally said, citing the example of January 2021 when the oil titan unilaterally cut by production by 1 million barrels per day. On April 3, several producers of the oil cartel OPEC+ revealed a combined 1.66 million barrels per day of production declines until the end of this year.

Persons: —, Rapidan Energy Bob McNally, McNally, Ruxandra Iordache Organizations: Saudi, Organization of, Petroleum, Brent, U.S, West Texas, Rapidan Energy, CNBC Locations: OPEC, — Saudi Arabia, Asia, Saudi, Saudi Arabia

☆ The OPEC+ call to cut production is a risk management decision, says Rapidan's Bob McNally
▼ + stars: | 2023-04-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe OPEC+ call to cut production is a risk management decision, says Rapidan's Bob McNallyHelima Croft, RBC Capital markets head of global commodity strategy, and Bob Mcnally, Rapidan Energy Group founder and president, join 'The Exchange' to discuss the OPEC+ decision to cut production, U.S. production of crude oil being catalysed by the OPEC+ cuts.

☆ Want to play higher oil prices? Analysts back these stocks, giving one over 160% upside
▼ + stars: | 2023-04-03 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

OPEC+ oil producers announced output cuts of around 1.16 million barrels a day Sunday, sending oil prices higher . The surprise cut in production could boost oil prices to $100 a barrel and beyond , analysts said. It comes after oil prices dipped last month, falling to $70 per barrel — the lowest in 15 months. Kathleen Flynn | ReutersOPEC+ oil producers announced output cuts of around 1.16 million barrels a day Sunday, sending oil prices higher. The surprise cut in production could boost oil prices to $100 a barrel and beyond, analysts said.

☆ OPEC+ oil output cuts could 'super tighten' the market if sustained, energy consultancy says
▼ + stars: | 2023-04-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOPEC+ oil output cuts could 'super tighten' the market if sustained, energy consultancy saysBob McNally of Rapidan Energy Group lays out two scenarios, which "[come] down to demand," that OPEC+'s oil production cut could lead to in the second half of the year.

☆ 2023 will be probably a 'pretty volatile' year for the oil market, energy consultancy says
▼ + stars: | 2022-12-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email2023 will be probably a 'pretty volatile' year for the oil market, energy consultancy saysBob McNally of Rapidan Energy Group says "we're in the foothills — that means we could go up or down as we did this year."

☆ China reopening the big story for oil in 2023: RBC's Helima Croft
▼ + stars: | 2022-12-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina reopening the big story for oil in 2023: RBC's Helima CroftRBC Capital's Helima Croft and Rapidan Energy's Bob McNally join Brian Sullivan and the 'CNBC Special: Taking Stock 2023' to discuss energy markets and what investors can look for in 2023.

☆ China will remain a 'big buyer' of crude oil, energy consulting firm says
▼ + stars: | 2022-11-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina will remain a 'big buyer' of crude oil, energy consulting firm saysBob McNally of Rapidan Energy Group says the country's imports are "quite robust," and demand for crude, including for Russian oil, will be "quite strong" even through the winter.

☆ We're gonna see a lot of nothing in bipartisan energy policy the next two years, says Rapidan's McNally
▼ + stars: | 2022-11-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're gonna see a lot of nothing in bipartisan energy policy the next two years, says Rapidan's McNallyRBC’s Helima Croft and Bob McNally of Rapidan Energy join ‘CNBC: Business on the Ballot’ to discuss the energy markets as gas prices head higher and utility bills have soared this year.

☆ Fury at Saudi Arabia revives calls for US to throw the book at OPEC
▼ + stars: | 2022-10-07 | by ( Matt Egan | ) edition.cnn.com time to read: +8 min

New York CNN Business —OPEC+’s decision to slash oil production has set off bipartisan fury in Washington directed at the Saudi Arabia-led group, raising calls for a hard-hitting US response. And as Democratic Congressman Ro Khanna told CNN earlier this week, in some ways the United States is less dependent on Saudi Arabia and other OPEC nations than in the past. US oil production has skyrocketed over the past 15 years, driving down foreign oil imports. Last year, US crude oil imports from OPEC nations stood at just 798,000 barrels per day. OPEC nations are among the only countries with the firepower to fill any gap created by the potential loss of Russian supply.

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