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Top related persons:
Alan Gelder - 2 Wood Mackenzie - 2 CNBC's - 2 Gelder - 2 Iraq — - 1 Saul Kavonic - 1 Kavonic - 1 Bjarne Schieldrop - 1
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Iran Hormuz Strait Israel Persian Bushehr Oman Saudi Arabia
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Brent - 2 Nurphoto - 1 U.S . Energy Information Administration - 1 Energy - 1 U.S - 1 West Texas - 1 ING - 1 bbl - 1

Search resuls for: "Alan Gelder"


3 mentions found


☆ Why oil and gas markets are dreading the risk of supply disruption in the Strait of Hormuz
  + stars: | 2024-10-08 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com   time to read: +5 min
In 2022, oil flow in the Strait of Hormuz averaged 21 million barrels per day, according to the U.S. Energy Information Administration (EIA). Saul Kavonic, senior research analyst at MST Financial, said supply disruptions along the Strait of Hormuz could send oil prices significantly higher. Oil prices traded more than 3% on Monday, extending gains even after notching their sharpest weekly gain since early 2023 last week. "But seeing where the oil price sits right now the market doesn't seem to hold much probability for such a development at all," he added. "A significant disruption to these flows would be enough to push oil prices to new record highs, surpassing the record high of close to $150/bbl in 2008," he added.
Persons: Alan Gelder, Wood Mackenzie, CNBC's, Iraq —, Gelder, Saul Kavonic, Kavonic, Bjarne Schieldrop, SEB, Brent, Schieldrop, Warren Patterson, Patterson Organizations: Nurphoto, U.S . Energy Information Administration, Energy, Brent, U.S, West Texas, ING, bbl, United Arab Emirates, Space Shuttle Columbia Locations: Persian, Bushehr, Iran, Hormuz, Oman, Strait, Israel, Saudi Arabia, Kuwait, Iraq, UAE, Gulf, Muscat
☆ U.S. crude oil jumps 2%, trades near $76 as market waits for Israel strike against Iran
  + stars: | 2024-10-07 | by ( Spencer Kimball | ) www.cnbc.com   time to read: +1 min
U.S. crude oil rose about 2% on Monday, as the market waited for Israel to strike Iran. Oil prices spiked last week on fears that Israel could hit Iran's oil industry in retaliation for Tehran's ballistic missile attack. The impact on the oil market would be significant if Israel struck Kharg Island, through which 90% of Iran's crude exports pass, Croft said. The worst-case scenario is a disruption in the Strait of Hormuz, through which 20% of the world's crude exports flow, Gelder said. Iran might target the strait in response to an Israeli strike, which would have a far more dramatic effect on crude prices, the analyst said.
Persons: Israel, Joe Biden, Biden, Helima Croft, Croft, CNBC's, Alan Gelder, Wood Mackenzie, Gelder Organizations: Texas Intermediate, Brent, RBC Capital Markets Locations: Israel, Iran, U.S, Kharg, Wood, Strait, Hormuz
☆ Analysis: Europe boosts Russian diesel buying ahead of ban set to rock market
  + stars: | 2023-01-16 | by ( Rowena Edwards Ron Bousso Ahmad Ghaddar | Rowena Edwards | Ron Bousso | ) www.reuters.com   time to read: +4 min
The ban is likely to create a diesel supply shortfall that Europe hopes to fill with Chinese fuel, some of which will be produced from Russian crude. China has raised its first batch of 2023 export quotas for refined oil products by nearly half from a year ago. "But without Chinese exports pushing swing barrels westward, Europe is unlikely to replace the 0.5 million bpd loss in Russian diesel exports come the embargo," Energy Aspects analysts said. Russia has long been the main diesel supplier for Europe, where refineries do not produce enough to meet domestic demand from its large diesel car fleet. Reuters GraphicsAn EU ban on Russian crude imports that took effect in December will be broadened to include refined fuels from Feb. 5.
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