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☆ Trump’s pick for fracker-in-chief will have a tough time pumping a lot more oil
▼ + stars: | 2024-11-18 | by ( Auzinea Bacon | Chris Isidore | ) edition.cnn.com time to read: +4 min

Trump has said he wants to lower gas prices — which currently average $3.07 per gallon — to below $2 a gallon. But the American oil industry is already booming and increasing output doesn’t mean gas prices will drop. After oil prices shot up in 2022 in the wake of Russia’s invasion of Ukraine and the sanctions on Russian oil imposed by western countries, major oil companies reported record profits. But are we going to increase oil production by another 50%? OPEC+, a group of leading oil-producing countries, even delayed plans to increase production because of concerns about excess supply.

Persons: Donald Trump, ” Trump, Trump, Chris Wright, Wright, Andy Cross, Andy Lipow, ” Lipow, “ It’s, Biden, ”, Bob McNally, George W, Bush, CNN’s David Goldman, Matt Egan Organizations: CNN, Liberty Energy, Liberty, Denver Post, US Energy Information Administration, P, Insights, Eurasia Group, Texas Intermediate, OPEC, Lipow Oil Associates, Energy, Oil Locations: Denver, States, Saudi Arabia, Russia, Eurasia, Ukraine, China, OPEC

☆ Oil prices slide more than 4% after Israel's 'limited' attack on Iran seen as not disrupting supplies
▼ + stars: | 2024-10-28 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

View of Iran's oil industry installations in Mahshahr, Khuzestan province, southern Iran. Kaveh Kazemi | Getty ImagesOil prices will remain under pressure for the rest of this year, it may be difficult to see Brent crude oil prices reaching $80 in the foreseeable future. "With Israel deliberately, and perhaps with some American encouragement, avoiding the targeting of crude oil facilities, the oil market is back to looking at an oversupplied market," said Andy Lipow, president at Lipow Oil Associates. "Oil prices will remain under pressure for the rest of this year, it may be difficult to see Brent crude oil prices reaching $80 in the foreseeable future," Lipow told CNBC via email. Stock Chart Icon Stock chart icon Oil prices year-to-date

Persons: Kaveh Kazemi, Brent, Andy Lipow, Israel, Lipow, Saul Kavonic Organizations: Getty, Lipow, Citi, Lipow Oil Associates, CNBC Locations: Mahshahr, Khuzestan, Iran, Israel, Canada, Brazil, Argentina, Senegal

☆ Oil falls more than 1% on higher US crude stocks as market watches Middle East
▼ + stars: | 2024-10-23 | by ( ) www.cnbc.com time to read: +3 min

Brent crude futures dropped $1.08, or 1.42%, to close at $74.96 a barrel. U.S. West Texas Intermediate crude futures shed 97 cents, or 1.35%, to settle at $70.77 a barrel. "The large crude oil inventory build this week is offsetting the drop last week. Also pressuring oil prices, the dollar index rose on Wednesday to its highest since late July. The impact of the crude stocks build on prices was countered somewhat by persistent concerns over potential oil supply risk from conflict in the Middle East.

Persons: paring, Andrew Lipow, Antony Blinken's, Blinken, Yeap Jun Rong Organizations: Brent, . West Texas, Energy Information Administration, Lipow Oil Associates, ING Locations: East, Israel, Gaza, Lebanon, Middle, U.S, Milton, Lebanese

☆ Why so many Florida gas stations are still out of gas
▼ + stars: | 2024-10-14 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

New York CNN —Hurricane Milton passed through Florida days ago, but the devastating storm is still causing chaos at gas stations. Hundreds of gas stations in Florida still don’t have gas, including roughly half of the stations in the hard-hit Tampa area. Meanwhile, the number of gas stations without gas has fallen sharply. This represents a significant improvement, although it still means that more than 1,300 Florida gas stations remain dry five days after Hurricane Milton made landfall. Florida gas stations are out of fuel following the storm that made landfall as a Category 3 hurricane in the Siesta Key area of Florida, causing damage and flooding throughout Central Florida.

Persons: Milton, ”, Patrick De Haan, De Haan, Hurricane Milton, Chris O'Meara, Andy Lipow, Lipow, “, Ron DeSantis, Joe Raedle, where, Tom Kloza, ‘, we’ve, ” Kloza Organizations: New, New York CNN, Tampa, Hurricane, Florida Highway Patrol, Fla . Gas, Gulf, FEMA, Port, Port Tampa Bay, Port Manatee, Lipow Oil Associates, Pasco Sheriff’s, Wawa, Fox, Florida Gov, Tampa Bay Times, Oil Price Information Service, “ Locations: New York, Florida, Tampa, Plant City, Fla, Port Tampa Bay, Gulf Coast, Port Tampa, Port, Tampa Bay, Pasco, Pasco County, St . Petersburg, Englewood , Florida . Florida, Central Florida

☆ Russia's oil trade is rising as record volumes of Russian crude are carried on 'dark fleet' vessels
▼ + stars: | 2024-10-14 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +7 min

According to Clearview Energy Partners, Russian crude prices over the last four weeks have averaged about six cents below the Brent crude price. Record volumes of sanctioned Russian oil were carried by the "dark fleet" and known sanctioned tankers without known insurance over September, according to a recent report from Lloyd's List. The Price Cap Coalition continues to engage with industry to ensure compliance with the price cap and to increase Putin's costs of going outside it." The increased use of dark fleet vessels comes with greater maritime safety and environmental risks. Insurance giant Allianz said in May that dark fleet tankers had been linked to more than 50 accidents.

Persons: Kevin Book, Vortexa, Avebury, Andy Lipow, Putin, Lipow Organizations: Windward, Clearview Energy Partners, CNBC, European Union, Brent, Intelligence, Iranian Tanker Co, U.S . Office, Foreign, Control, Lipow Oil Associates, Treasury, Kremlin, Coalition, Group, Insurance, Allianz Locations: Morocco, U.S, Ukraine, Australia, India, China, Russian, Barbados, Seychelles, UAE, Avebury Shipmanagement . Greece, Russia, United States, Iran, Israel, Straits, Hormuz, Canada, Guyana

☆ Florida gas stations are running out of fuel as people flee Hurricane Milton
▼ + stars: | 2024-10-08 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Nearly 16% of gas stations in Florida had run out of fuel as of late morning Tuesday as people flee north to escape the path of Hurricane Milton, according to data from GasBuddy. About 1,200 of the state's 7,900 gas stations are currently without fuel, according to the data. The storm is forecast to remain "an extremely dangerous hurricane" through landfall in Florida, according to the forecasters. Gas stations are running out of fuel and lines are long but there is not a shortage in the state, DeSantis said. Terminals with power, however, could begin distribution of fuel Saturday and Sunday depending on worker and truck driver availability as well as whether local gas stations are working, he said.

Persons: Patrick De Haan, De Haan, Milton, National Hurricane Center . Milton, Ron DeSantis, DeSantis, Andy Lipow, Lipow Organizations: CNBC, National Hurricane Center ., Florida Gov, Lipow Oil Associates, Sunday Locations: Florida, Hurricane Milton, GasBuddy, Port, Tampa, Milton

☆ Florida gas stations are already running out of fuel. Hurricane Milton could cause even more trouble
▼ + stars: | 2024-10-08 | by ( Chris Isidore | Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN —Gas stations in many areas of Florida are running out of gasoline, as residents prepare for Hurricane Milton. Gas price tracking service GasBuddy reported that as of Tuesday morning, 14.5% of gas stations statewide were without fuel, a dramatic spike from just 3% on Monday. DeSantis said 27 fuel trucks were escorted by the Florida Highway Patrol to deliver fuel to stations in the anticipated impact area of the storm. “We have been dispatching fuel over the past 24 hours as gas stations have run out,” he said at a press conference early Tuesday. And the real fear is that the hurricane and storm surge could cause significant damage to the port.

Persons: Fort, “, ”, Patrick De Haan, Ron DeSantis, DeSantis, Milton, Julio Cortez, Tom Kloza, Andy Lipow Organizations: New, New York CNN — Gas, Hurricane Milton, GasBuddy, Florida, Patrol, AAA, Lipow Oil Associates, Coast Guard Locations: New York, Florida, Milton’s, Fort Myers, Gulf Coast, Port of Tampa, Orlando, Tampa Bay, Port, Tampa

☆ Oil markets not pricing in an 'all-out war' after Israel kills Hezbollah leader, but risks persist
▼ + stars: | 2024-09-30 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

While hostilities throughout the Middle East have ramped up, there has not been any oil supply disruption, observed Andy Lipow, president at Lipow Oil Associates. "The oil market does not expect an all-out war between Iran and Israel that would impact supply," he told CNBC via email. However, both experts noted that a rapid escalation in conflict could lead to crude oil prices hitting $100 per barrel. While unlikely, oil prices would jump by $30 per barrel if it occurred, he added. "If events rapidly spiral, any material disruption to Iranian oil supplies or oil exports through the Strait of Hormuz could send oil prices well over $100 per barrel," said Young.

Persons: Hassan Nasrallah, Nasrallah, Andy Lipow, Lipow, Josh Young, Young Organizations: State, Company, Venezuelan, Company SA, Israel Defense Forces, Hezbollah, U.S, National Intelligence, London Assembly, Brent, West Texas Intermediate, Lipow Oil Associates, CNBC, U.S ., U.S . Energy Information Administration, Hamas Locations: Venezuela, Beirut, Iran, Israel, U.S . Canada, Guyana, Straits, Hormuz, Oman, Lebanon

☆ U.S. crude oil prices fall ahead of pivotal Fed decision on interest rates
▼ + stars: | 2024-09-18 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

U.S. crude oil fell Wednesday ahead of the Federal Reserve's pivotal decision on interest rates later this afternoon. The oil market has been rattled this month by worries about a growing imbalance between supply and demand. Bulls are hoping that a decision by the Fed to cut interest rates for the first time in years could put a bid into the market. Andy Lipow, president of Lipow Oil Associates, said a 25 basis point cut is probably already priced into the oil market. Traders are also waiting for the latest data on U.S. crude oil inventories at 10:30 am ET.

Persons: Matt Smith, Andy Lipow, Lipow Organizations: Federal, Americas, Kpler, Brent, Bulls, Fed, Lipow Oil Associates, Hezbollah, Traders Locations: U.S, China, OPEC, Canada, Brazil, Guyana, Israel, Iran, Lebanon

☆ Harris and Trump kept talking about pumping more oil. There’s a problem with that
▼ + stars: | 2024-09-11 | by ( David Goldman | Matt Egan | ) edition.cnn.com time to read: +4 min

So why were Vice President Kamala Harris and former President Donald Trump talking so much about expanding oil production during Tuesday night’s debate? Fossil fuel will be dead,” Trump said. For all the candidates’ talk of promoting fossil fuel production, it’s not clear that America needs drastically more oil. US oil production has already spiked to a record of 13.4 million barrels per day, according to weekly federal data. So it would likely take an extreme — or calamitous — event to get gas prices back below $2.

Persons: Kamala Harris, Donald Trump, Harris, fracking, Biden, Trump, they’ll, ” Trump, Andy Lipow, he’s, It’s, it’s, Lipow, ”, Bob McNally, doesn’t, McNally, George W, Bush, “, America Organizations: CNN, Senate, Lipow Oil Associates, AAA, Rapidan Energy, US Energy Information Administration, Travel Locations: America, United States, Pennsylvania, OPEC, China

☆ Sub-$3 gas is making a comeback. Dozens of states could be below $3 by Thanksgiving
▼ + stars: | 2024-09-06 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

Andy Lipow, president of consulting firm Lipow Oil Associates, expects that another nine states will join the sub-$3 list in the next two weeks. “Gas prices, after two-plus years of sizzling because of outside factors like Covid and Russia, are finally coming back into balance,” said De Haan. The accelerating drop in gas prices should help ease financial pressure on consumers and contribute to the cooling inflation rate. Some economists say gas prices will likely be a deciding factor, and lower prices will favor the current administration. ‘Panic and fear’ at OPECAnalysts told CNN that this trend of lower gas prices is likely to continue, despite the shift in strategy from OPEC+.

Persons: Andy Lipow, Patrick De Haan, ”, De Haan, Kamala Harris, “, ” Lipow, Bob McNally, McNally, George W, Bush, Trump, We’re, ” Trump, Tom Kloza, Kamala Harris ’, CNN’s Chris Isidore Organizations: New, New York CNN, AAA, Drivers, Lipow Oil Associates, CNN, “, Federal Reserve, OPEC Analysts, Rapidan Energy Group, OPEC, Trump, Oil Price Information Service Locations: New York, Texas , Kentucky, Kansas, OPIS, Russia, Arizona, Nevada, Georgia, OPEC, China, United States, Saudi Arabia, Ukraine, America

☆ Chicago-area gas prices are surging after a tornado nearly took out a refinery
▼ + stars: | 2024-07-24 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —Gas prices have spiked in and around Chicago after a tornado sidelined a major ExxonMobil oil refinery last week. A gallon of gas in Chicago is now selling for an average of $4.34, according to AAA. That’s 27 cents more expensive than just a week ago after a tornado narrowly missed the Joliet Refinery and knocked power out to the Channahon, Illinois, facility. Gas prices have also jumped in nearby Michigan, another battleground state in the upcoming presidential election. “It will increase supply and lower prices,” Lipow said.

Persons: it’s, Kamala Harris, Andy Lipow, there’s, Catie Tuley, “ We’ve, ” Tuley, Lipow, ” Lipow Organizations: New, New York CNN, AAA, Joliet Refinery, Chicago, Lipow Oil Associates, Exxon, CNN, Wednesday, Environmental Protection Agency, EPA Locations: New York, Chicago, Joliet, , Illinois, Gary, Indiana, Wisconsin, Kenosha County, Milwaukee, Waukesha, Racine, Michigan, Gulf

☆ Chicago gas prices could soar after tornado narrowly misses refinery
▼ + stars: | 2024-07-17 | by ( Chris Isidore | Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —Gas prices could soon soar across the Chicago metropolitan area after a tornado narrowly missed a major ExxonMobil refinery outside of Chicago Monday night, knocking out power to the facility. The refinery, know as ExxonMobil’s Joliet Refinery, is located in neighboring Channahon, Illinois. The line of storms that hit the area Monday night produced 11 tornadoes in the greater Chicago area, including the one that hit Channahon, according to the National Weather Service. It will take a few days to return the Joliet refinery to normal production, assuming no damage occurred beyond the power outage, Lipow said. The the Chicago area is already at $4.07 a gallon, according to AAA, but that average price, based on Tuesday’s prices, was down 1 cent from the previous day.

Persons: John Petrakis, Andy Lipow, ”, Tom Kloza, Beryl’s, Lipow Organizations: New, New York CNN, ExxonMobil, Channahon, CNN, Lipow Oil Associates, ExxonMobil Joliet, Chicago, National Weather Service, AAA Locations: New York, Chicago, Joliet Refinery, Channahon , Illinois, Chicagoland, Whiting Indiana, Lemont Illinois, Houston, Joliet, Gulf

☆ U.S. crude oil prices fall nearly 1% as market tracks path of Hurricane Beryl
▼ + stars: | 2024-07-08 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

U.S. crude oil futures fell nearly 1% Monday as traders monitored the impact of Hurricane Beryl on Gulf Coast refining, production and export infrastructure. Beryl made landfall near Matagorda, Texas as a Category 1 hurricane with maximum sustained winds of 80 miles per hour, according to the National Hurricane Center. Here are today's energy prices:Shell shut in production and evacuated personnel from its Perdido platform about 200 miles south of Galveston, according to a company statement Friday. The platform was producing roughly 100,000 barrels per day, about 5.5% of oil production in the Gulf of Mexico, according to Andy Lipow, president of Lipow Oil Associates. "I don't foresee this storm affecting either supply or price to any significant degree; the consumer will get their gasoline.

Persons: Hurricane, Beryl, Andy Lipow, Lipow Organizations: National Hurricane Center, Corpus Christi, U.S ., Shell, Lipow Oil Associates Locations: Matagorda , Texas, Matagorda, Corpus, U.S . U.S, Galveston, Gulf of Mexico

☆ U.S. crude oil pulls back from two-month high as traders assess Israel-Hezbollah, Hurricane Beryl risks
▼ + stars: | 2024-07-02 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

An oil pump jack is shown in a field in Stanton, Texas, on June 27, 2024. U.S. crude oil pulled back from a two-month high Tuesday, as traders assessed the risk of war between Israel and Hezbollah, while monitoring the potential threat of Hurricane Beryl to Gulf Coast refineries. Oil has rallied in recent days with gasoline prices have hit an average of $3.50 per gallon ahead of the Fourth of July holiday, according to the motorist association AAA. Prices at the pump are about 3 cents higher than last week but still lower than last month. Oil prices gained 6% last month after sagging in May as geopolitical risk entered the market again.

Persons: Hurricane, Brent, Patrick De Haan, Andy Lipow Organizations: Oil, AAA, West Texas, Lipow Oil Associates, Hezbollah, Israel Defense Forces Locations: Stanton , Texas, Israel, Gulf Coast, Iran

☆ OPEC+ decision to increase oil supply is a 'bearish surprise' for the market, Goldman says
▼ + stars: | 2024-06-04 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

The detailed plan laid out by OPEC+ over the weekend to increase oil production delivered a "bearish surprise" to a market in which prices were already under downward pressure, according to Goldman Sachs. OPEC+ plan difficult to reverse The OPEC+ members said the production increases are subject to market conditions and could be reversed. Struyven described OPEC's forecast as "very bullish," with Goldman forecasting demand growth of 1.5 million bpd in 2024. Market could deteriorate in 2025 The oil market will remain in balance or in a slight deficit for the time being, according to Ryan McKay, senior commodity strategist at TD Securities. Yet those cuts have failed to limit shale oil production in the U.S., Lipow said.

Persons: Goldman Sachs, Brent, WTI, Daan Struyven, Bob Yawger, Yawger, Helima Croft, Goldman's Struyven, Andrew Lipow, Struyven, Lipow, Ryan McKay, McKay, Daan Organizations: West Texas Intermediate, Goldman, OPEC, Mizuho Securities, CNBC, RBC Capital Markets, Lipow Oil Associates, TD Securities, JPMorgan Locations: OPEC, Saudi Arabia, Russia, U.S, Brazil, Guyana, Norway, Senegal, Persian, Arabian

☆ Good news: The worst could be over for gas prices this spring
▼ + stars: | 2024-04-30 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

US gas prices have stopped rising and even briefly dipped in recent days. Now, there is growing hope that gas prices are at or near a peak for the spring – or perhaps even for the year. ‘Could have been much worse’Of course, none of this is to say gas prices are cheap. A spike in gas prices would be the last thing President Joe Biden needs as he struggles to convince voters of his economic message before November. Why gas prices have cooledThere are multiple reasons why gas prices have stopped rising for the moment.

Persons: Patrick De Haan, “ I’m, ” De Haan, Tom Kloza, ”, Andy Lipow, “, De Haan, Joe Biden, Lipow, ” Lipow, Kloza Organizations: New, New York CNN, OPEC, AAA, CNN, “, Oil Price Information Service, Lipow Oil Associates, Drivers, Federal Reserve, Biden, US Strategic Petroleum Reserve, Coast, Colorado State University Locations: New York, Israel, Iran, Covid, California, De Haan ., Washington, Syria, West Texas, New Mexico, Saudi Arabia, Russia

☆ 'Iran is in for the long haul' with oil tanker hijacks, expert says, as U.S. considers more sanctions
▼ + stars: | 2024-04-16 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

Before this weekend's tanker seizure, the last vessel Iran hijacked was the St. Nikolas on January 1. A Planet Labs satellite image of the location of the MSC Aries and other tankers recently hijacked by Iran. Planet Labs PBCAs the U.S. considers more sanctions against Iran in response to its recent attack on Israel, Iran has been using the hijacked ships as a means of sanctions retaliation. Iran chose to do this as a way to compensate for sanctions," Madani said. In a note to clients, ClearView highlighted that the House of Representatives added several Iran sanctions bills to its calendar for consideration this week, under suspension rules, including new sanctions on Iranian oil exports to China.

Persons: Nikolas, Houthis, Samir Madani, Eyal Ofer's, Madani, Janet Yellen, Helima Croft, Andy Lipow, Brent, Lipow, Kevin Book, Book Organizations: Anadolu, Getty, MSC Aries, U.S . Naval Forces Central Command, Galaxy Leader, MSC, Planet Labs, U.S . Energy Information Agency, United Arab, JPMorgan, CNBC, Lipow Oil Associates, ClearView Energy Partners, US, UN Locations: Gulf of Oman, Hormuz, Anadolu, Iran, Israel, Gaza, U.S, Iranian, Khuran, China, Russia, Malaysia, United Arab Emirates, Oman, Strait, Tehran, East, North Africa, India, Saudi Arabia, Kuwait, Iraq, France, Germany

☆ These 10 oil stocks are the most — and least — sensitive to price swings amid Iran-Israel tensions
▼ + stars: | 2024-04-16 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Crude oil prices have been volatile in April amid heightened geopolitical risks. Fears of a spillover conflict in the Middle East have led some market watchers to predict oil prices could soar to $100 per barrel and beyond . Any disruption in its capacity to supply global markets could send oil prices higher, analysts told CNBC. Oil and gas stocks that show a negative correlation with crude oil prices will enable investors to withstand any volatility while remaining invested in the sector. A correlation of 0 would mean no link between the crude oil price and the stock price.

Persons: Bartosz, Andy Lipow, — CNBC's Lee Ying Shan, Jenni Reid Organizations: Organization of, Petroleum, CNBC, Brent, Lipow Oil Associates, CNBC Pro, Energy Locations: Iran, Israel, Conotoxia, Hormuz, lockstep

☆ Oil prices could see 'super spike well above $100' if conflict escalates after Iran's attack on Israel
▼ + stars: | 2024-04-15 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

Any disruption in its capacity to supply global markets could send oil prices higher, analysts told CNBC. Insufficient investment makes supply more fragile and increases the chance of a super spike well above $100 if supply is disrupted. Stock Chart Icon Stock chart icon Oil prices since the start of the year. "I think oil prices will go to all time highs this cycle, due to a decade of under-investment in exploration and development," Young added. Oil prices have climbed in recent months on trade disruptions and delays caused by Red Sea maritime attacks from the Houthis, who claim solidarity with the Palestinian people.

Persons: Saeid Arabzadeh, Israel reigniting, Andy Lipow, Daniel Hagari, Josh Young, Brent, Young, Morgan Stanley's Organizations: Afp, Getty, OPEC, CNBC, Brent, Lipow Oil Associates, Israel Defense Forces, Bison, Iran's United Nations, underinvestment, U.S, West Texas Locations: Persian, Iran, Hormuz, Oman, Israel, Damascus, Syria, Asia

☆ Oil price surge is the No. 1 threat to the US economy, Moody’s economist warns
▼ + stars: | 2024-04-08 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

But there is a growing threat to that sunny economic backdrop: surging oil prices. Global oil prices are flirting with $92 a barrel amid worries about a wider war in the Middle East. US oil prices surged above $87 a barrel late last week for the first time since late October, leaving them up about 21% this year. First, drone attacks on oil refineries deep inside Russia helped lift oil prices last month. Beyond the Middle East tensions, oil and gas prices have been boosted by OPEC and its allies, which continue to restrain supply.

Persons: “, ”, Mark Zandi, Moody’s, Donald Trump, Trump, ” Zandi, hasn’t, Andy Lipow, Brent, ” Helima Croft, Joe Brusuelas, ” Brusuelas, Brusuelas, Vincent Reinhart, Mellon, ” Reinhart, he’s, Patrick De Haan, ” De Haan Organizations: New, New York CNN, Federal Reserve, Wall, CNN, “, Iranian Revolutionary Guards, Lipow Oil Associates, CIA, RBC Capital Markets, RSM, AAA, OPEC, Lipow Locations: New York, Iran, Russia, Syria, Israel, Quds, “

☆ Surging oil prices may challenge the Federal Reserve's inflation fight
▼ + stars: | 2024-04-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

Mounting geopolitical tensions stemming from conflict in the Middle East and Eastern Europe have helped drive oil prices to five month highs, challenging the Federal Reserve's fight against inflation. U.S. crude oil gained 4.5% this week, touching $87 a barrel on Friday before settling at $86.91. Rising energy prices may affect the timing or magnitude of interest rate cuts, he said. The Federal Reserve is focused on bringing down core inflation, which excludes volatile energy and food prices. Escalating attacks are coming against a backdrop of an already tightening global crude market.

Persons: Brent, Bart Melek, Andy Lipow, Lipow, Bob Yawger, Yawger, Netanyahu, Manish Raj, White, Biden, John Kilduff, Kilduff, Melek, Saudi Arabia doesn't Organizations: Federal, American Automobile Association, West Texas, TD Securities, Lipow Oil Associates, Mizuho Americas, Valero, Philips, Marathon Petroleum, Velandera Energy Partners, Kyiv, JPMorgan, Financial Times, Again Capital, Bank of America, Saudi Locations: East, Eastern Europe, Iran, Israel, Ukraine, Damascus, Kyiv, Ukrainian, Russia, Saudi Arabia

☆ OPEC+ likely to 'continue to roll over' with its voluntary oil production cuts, consultancy says
▼ + stars: | 2024-04-03 | 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+ likely to 'continue to roll over' with its voluntary oil production cuts, consultancy saysAndy Lipow, president of Lipow Oil Associates, says "they really want to see the price of Brent crude oil hit $90 a barrel."

Persons: Andy Lipow Organizations: Lipow Oil Associates, Brent

☆ Logistics companies scramble after bridge collapse closes Port of Baltimore until further notice
▼ + stars: | 2024-03-26 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +8 min

The steel frame of the Francis Scott Key Bridge sits on top of the container ship Dali after the bridge collapsed, Baltimore, Maryland, on March 26, 2024. At the time of the collision, the vessel had two pilots from the Port of Baltimore on board. The steel frame of the Francis Scott Key Bridge lies in the water after it collapsed in Baltimore, Maryland, on March 26, 2024. "For cargo already on water, we will omit the port, and will discharge cargo set for Baltimore, in nearby ports. "The collapse of the Baltimore bridge primarily affects coal exports from CNX and CSX terminals," said Madeleine Overgaard, dry market data manager for the global trade data platform Kpler.

Persons: Francis Scott Key, Dali, Roberto Schmidt, Paul Brashier, Brashier, Goetz Alebrand, Wes Moore, Larry, Richard Meade, Meade, Kena Betancur, Andy Lipow, Lipow, Helen Delich Bentley, Judah Levine, Madeleine Overgaard, Levine, Tasos Katopodis Organizations: Afp, Getty Images Logistics, Port, Eastern Seaboard, ITS Logistics, Getty, Americas, DHL Global, Maryland Gov, Baltimore, AFP, Uber Freight, IKEA, Lipow Oil Associates, Maersk, Freightos, CSX, East, Francis Scott Key Bridge Locations: Baltimore , Maryland, Baltimore, New York, New Jersey, Norfolk, Port of Baltimore, Colombo, Sri Lanka, Port, American, Taicang Port, Suzhou, China's, Jiangsu, East Coast, Norfolk , Virginia, Maryland, Midwest, New England, Virginia, North East , Maryland, Gulf Coast, Philadelphia, Suez, CNX, Freightos, Asia, U.S

☆ Surging gas prices just hit a significant milestone
▼ + stars: | 2024-03-18 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

The recent jump in gas prices is already causing headaches on the inflation front. The last time gas prices were up on a year-over-year basis was late December 2023, according to AAA. Gas prices surge in MichiganAnd the concerns about Russia’s energy facilities is on top of the Houthi attacks on vessels in the Red Sea. “People have this visceral reaction to higher gas prices and they look to fix blame,” said Kloza. Unless there’s a major hurricane that strikes US Gulf Coast refineries, Kloza does not expect gas prices to hit $4 a gallon this year.

Persons: It’s, ”, Andy Lipow, Tom Kloza, Vladimir Putin, Kloza, “ It’s, we’ve, ” Kloza, Biden Organizations: New, New York CNN, White House, Federal Reserve, Gas, “, Lipow Oil Associates, AAA, Oil Price Information Service, CNN, White, Drivers Locations: New York, Russia, Ukraine, Michigan, Red, OPEC, Saudi Arabia, United States, Kloza

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