The energy markets breathed a sigh of relief on Friday, as the military conflict between the arch-enemies in the Middle East, Israel and Iran, appeared to have subsided - at least, for now. As the news trickled in about an Israeli strike inside Iran in the morning on Friday, it was not clear what really was going on in the Islamic Republic: the airspace was closed all of a sudden in the wee hours on Friday; there were reports about explosions in the city of Isfahan, the third largest Iranian city of immense cultural significance as well as the home for major military sites and above ..read more

  Credit: Google Maps With Iran's threat against Israel with a direct strike, the tension in the Middle East went up a few notches on the scale of uncertainty, as the United States made it clear once again that it would not be a passive observer if a conflict erupts The rising tension came in the wake of the daring attack carried out by Israeli F-35 fighter jets on the building that was adjacent to the Iranian embassy in Damascus, the Syrian capital. Seven Iranian nationals, along with a few Syrians, died in the attack, two of them were from the elite Iranian IRGC - Republican Guards ..read more

Total Solar Eclipse: April 8, 2024: Vivax Solutions The lucky folks along a relatively narrow geographical band, from Mexico all the way to Canda, are going to witness a rare celestial spectacle on Monday, April 8 – a total solar eclipse. The path of totality – where people can witness total darkness - cuts across fifteen US states, before rolling into Canada in its final mesmerising leg. In mathematical proportion to the excitement, the enviably famous American entrepreneurial spirit has already gone into full swing: the hotel bookings, closer to the path of totality, have gone up ..read more

China's Manufacturing PMI - March With China's manufacturing sector returning to the expansion territory in March, recording the highest manufacturing PMI since September, 2023, the economic outlook of the world's second largest economy depicts a positive picture - at last. The announcement on Sunday by China's National Statistics Bureau on the PMI, was further boosted by the fact that the country's logistic industry showed even better improvement in March; the data released on Tuesday shows that the logistics industry prosperity index rose by 4.4 points to 51.5. That means, Chinese ..read more

  Chart:www.oilfutures.co.uk | Data: OPEC As the 53rd JMCC, Joint Ministerial Monitoring Committee, of the OPEC+ is scheduled to take place on April 3, analysts are looking at every possible scenario that could rise in the aftermath of such a meeting. A consensus has already emerged among them that the OPEC+ would stick to its production quota for each member country. That means the official position of the OPEC+ will maintain the current production cuts as long as necessary, without increasing the production to appease the influential customers.  The cartel wants to stic ..read more

  www.oilfutures.co.uk The data from 2023 clearly shows that China, the world's top importer of crude oil, is a factor that cannot be ignored when it comes to the stability in the crude oil markets. The trendline, based on the crucial crude oil import volumes, shows a gradual, not a steep, decline in line with the fluctuating manufacturing activities. The trendline of China's Purchasing Manager's Index, PMI, followed a similar pattern in 2023. There was a relative surge in crude oil imports in February on account of heavily discounted Russian oil after the war broke out betw ..read more

  The latest data from the EIA, US Energy Information Administration, suggests that the US had been the largest producer of crude oil in 2023, despite turning to other sources to boost the global oil production. It has been more than 4 years since the US became a net exporter of crude oil. The data explicitly shows that the US retains the crown for the largest production, while pushing both Russia and Saudi Arabia down to the second and third place respectively. As of December 2023, the US accounted for 12.9% of the global oil production. The same figures for Russia and Saudi Arabia ..read more

Test your knowledge of the oil and gas industry: Time: 30 minutes Created by Crude Oil Futures This quiz covers significant milestones, key players, and evolving challenges in the oil and gas industry. It delves into historical developments, technological advancements, and contemporary issues impacting the sector. Whether you're a seasoned professional or just starting your journey in the oil and gas world, this quiz is an opportunity to test your knowledge and stay informed about the dynamic landscape of this vital industry.   Start the Quiz   Submit Quiz ..read more

  China's purchasing manager's Index, PMI, a key metric that signals the health of the manufacturing sector in the world's second largest economy, fell slightly in February, despite scoring 0.2% rise in January relative to December, 2023. As it remains below the threshold, 50%, since September, 2023, analysts are concerned about the latest official figures that show yet another contraction in the manufacturing activities. A strong PMI - above 50% - indicates a rise in the manufacturing activities, something that the both analysts and investors are eager to see.   Conversely ..read more

  The price of crude oil shot up slightly at the beginning of this week, only to come down closer to where it had been in the last few weeks. The price of LNG, liquified natural gas, meanwhile saw its biggest drop in its recent history. As of 18:00 GMT, the prices of two major benchmarks, WTI and Brent, were at $79.97 and $83.55 respectively; the price of LNG was at $1.84 . The speculation over yet another production cut, analysts believe, may be the cause of rise in oil price this week. It, however, fell down again as the weekend approached, implying the acute challenges faced in mai ..read more