• About
    • Which Energy Mix is this?
  • Climate News Network Archive
  • Contact
The climate news that makes a difference.
No Result
View All Result
The Energy Mix
  • Canada
  • Fossil Fuels
  • Ending Emissions
  • Cities & Communities
  • Electric Mobility
  • Heat & Power
  • Community Climate Finance
SUBSCRIBE
DONATE
  • Canada
  • Fossil Fuels
  • Ending Emissions
  • Cities & Communities
  • Electric Mobility
  • Heat & Power
  • Community Climate Finance
SUBSCRIBE
DONATE
No Result
View All Result
The Energy Mix
No Result
View All Result
  • Canada
  • Fossil Fuels
  • Ending Emissions
  • Cities & Communities
  • Electric Mobility
  • Heat & Power
  • Community Climate Finance
  FEATURED
REVEALED: Imperial Oil, Alberta Regulator Knew of Toxic Seepage at Kearl Mine for Years, Didn’t Tell First Nation October 3, 2023
Oil and Gas, Buildings Drive 2.1% Rise in Canada’s Climate Pollution October 2, 2023
Shell CEO Doubles Down on Renewable Cuts Despite Internal Pushback October 2, 2023
Leading Climate Models Underestimate Clean Energy Progress, Overstate Cost, Study Finds October 2, 2023
UAE Holds Major Oil and Gas Conference Before Hosting COP 28 Climate Summit October 2, 2023
Next
Prev

Oil Prices Rise 25%! To $34.74 Per Barrel. Then Fall Again.

February 3, 2016
Reading time: 1 minute

geralt / Pixabay

geralt / Pixabay

 
geralt / Pixabay
geralt / Pixabay

Fossil executives may have been breathing a slight sigh of relief last Friday when they saw prices increase 25% in the course of the week…until it turned out that benchmark Brent crude had only reached the heady level of US$34.74 per barrel.

And even that gain appeared to be short-lived—late Tuesday, Reuters reported prices as low as US$32.23 after two days of losses.

  • Be among the first to read The Energy Mix Weekender
  • A brand new weekly digest containing exclusive and essential climate stories from around the world.
  • The Weekender:The climate news you need.
Subscribe

The latest ups and downs reflected traders’ confidence (or lack thereof) in a promised deal among major oil producers to limit volumes in a glutted world market. Even on Friday, oil trading was “volatile” as officials from Iran and Russia cast doubts on prospects for a deal that Russian Energy Minister Alexander Valentinovich Novak had hinted at earlier in the week.

“Hopes dimmed this week as no deal has emerged and talks between Russia’s energy minister and Venezuela’s oil minister on Monday failed to result in any clear plan to reduce output,” Kumar wrote Tuesday. “U.S. investment bank Goldman Sachs said it was ‘highly unlikely’ the Organization of Petroleum Exporting Countries would cooperate with Russia to cut output, saying the move would also be self-defeating as stronger prices would bring previously shelved production back to the market.”

Analyst John Kilduff of New York-based Again Capital LLC said oil prices could go lower still. As producers “continue to disappoint, we’re going to trade lower, until the market forces them to do something, and I think that’s at a much lower price than here,” he told Reuters.



in Energy / Carbon Pricing & Economics

The latest climate news and analysis, direct to your inbox

Subscribe

Related Posts

Solarimo/pixabay
Ending Emissions

Leading Climate Models Underestimate Clean Energy Progress, Overstate Cost, Study Finds

October 2, 2023
211
YouTube
COP Conferences

UAE Holds Major Oil and Gas Conference Before Hosting COP 28 Climate Summit

October 3, 2023
8
Iota 9/Wikimedia Commons
Cities & Communities

‘Huge Loss’ for Local Green Economy as Vancouver Shutters Its Economic Commission

September 28, 2023
321

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Trending Stories

Iota 9/Wikimedia Commons

‘Huge Loss’ for Local Green Economy as Vancouver Shutters Its Economic Commission

September 28, 2023
321
Jon Sullivan/flickr

Thorold Gas Peaker Plant Won’t Be Built After Unanimous City Council Vote

September 21, 2023
857
Solarimo/pixabay

Leading Climate Models Underestimate Clean Energy Progress, Overstate Cost, Study Finds

October 2, 2023
211
Power lines, Mississauga, Canada

Two First Nations Groups Vie to Build Northern Ontario Power Line

September 28, 2023
174
Cullen328/wikimedia commons

Manufactured Housing Could Dent the Affordable Housing Crunch with Energy-Efficient Designs

September 20, 2023
728
McDonald's/flickr

McDonald’s Failing to Follow Through on Climate Promises, Critics Say

December 17, 2021
2.6k

Recent Posts

jasonwoodhead23/flickr

REVEALED: Imperial Oil, Alberta Regulator Knew of Toxic Seepage at Kearl Mine for Years, Didn’t Tell First Nation

October 3, 2023
1
Dawn Ellner/flickr

Oil and Gas, Buildings Drive 2.1% Rise in Canada’s Climate Pollution

October 2, 2023
2
Ramon FVelasquez/Wikipedia

Shell CEO Doubles Down on Renewable Cuts Despite Internal Pushback

October 2, 2023
2
Northvolt plant in Sweden, Spisen/wikimedia commons

Quebec Lands $7B Battery Gigafactory Investment from Sweden’s Northvolt

October 2, 2023
2
YouTube

UAE Holds Major Oil and Gas Conference Before Hosting COP 28 Climate Summit

October 3, 2023
8
GFDL/Wikimedia Commons

Clean Energy Funding Isn’t Just About Money, Policy Expert Warns

October 2, 2023
4
Next Post

Human impacts fuel weather extremes

The Energy Mix - The climate news you need

Copyright 2023 © Energy Mix Productions Inc. All rights reserved.

  • About
  • Contact
  • Privacy Policy and Copyright
  • Cookie Policy

Proudly partnering with…

scf_withtagline
The Energy Mix - Energy Central
No Result
View All Result
  • Canada
  • Fossil Fuels
  • Ending Emissions
  • Cities & Communities
  • Electric Mobility
  • Heat & Power
  • Community Climate Finance

Copyright 2022 © Smarter Shift Inc. and Energy Mix Productions Inc. All rights reserved.

Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
View preferences
{title} {title} {title}