Oil price rally shows no sign of slowing

The U.S. national average for gasoline hit $5 per gallon last week, the highest ever. Brent crude is trading at $120 per barrel and is unlikely to subside much further as China comes back in full force. And according to the UAE’s Energy Minister, we haven’t even reached the peak—or anywhere near it.

“I’ve never seen this combination of circumstances in my career over the last 50 years,” Gary Ross, manager at Black Gold Investors, a hedge fund, told Bloomberg last week. “The world has very little spare capacity, the economy is strong outside of China, China is now coming back and we’re in the midst of a global oil interruption.”

Serinus Energy plc (LON:SENX) is an international oil company with operations in Romania and Tunisia. The focus of the Company is to enhance shareholder value by growing oil and gas production through the efficient allocation of capital.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Serinus-Energy

More articles like this

Serinus-Energy

Serinus Energy revenue increases to $29.3 million

Serinus Energy plc (LON:SENX), has announced its interim results for the six months ended 30 June 2022. Financial ·      Revenue for the six months ended 30 June 2022 was $29.3 million (30 June 2021 – $15.9 million) ·      Funds from

Serinus-Energy

Oil to hit $120 again by winter

While oil and gas prices may continue to weaken in the near term, by the time winter sets in, the market is going to become extremely tight and the per-barrel price of oil should return to around $120,

Serinus-Energy

Oil prices climb

Oil prices rose on Friday, bouncing off their lowest levels since February in the previous session, as supply shortage concerns were enough to cancel out fears of slackening fuel demand. Brent crude rose 55 cents, or 0.6%, to

Serinus-Energy

Oil prices rise

Oil prices rose on Thursday as supply concerns triggered a rebound from multi-month lows plumbed in the previous session after U.S. data signalled weak fuel demand. Brent crude futures rose 10 cents, or 0.1%, at $96.88 a barrel at 0653

Serinus-Energy

Oil rises for a second day

Oil prices rose on Tuesday for a second day on increasing concerns about tightening European supply after Russia, a key oil and natural gas supplier to the region, cut gas supply through a major pipeline. Brent crude futures

Serinus-Energy

Oil prices extend gains

Oil prices have extended gains, propped up by a weaker dollar and tight supplies that offset concerns about recession and the prospect of widespread COVID-19 lockdowns in China again reducing fuel demand. Brent crude futures for September settlement

Serinus-Energy

Serinus Energy CEO increases shareholding

Serinus Energy plc (LON:SENX) has been informed that Jeffrey Auld, Chief Executive Officer of the Company, purchased on 13 July 2022 an aggregate of 98,000 Ordinary Shares in the Company at an average price of 9.2 pence per

Serinus-Energy

Oil edges higher

Oil edged up on Wednesday, a day after settling below $100 a barrel for the first time since April, and gains were limited by a U.S. supply report showing rising inventories and caution ahead of U.S. inflation data.

Serinus-Energy

Oil prices bounce back

Oil prices rose on Wednesday, clawing back some of Tuesday’s heavy losses as supply concerns returned to the forefront and outweighed lingering worries over a global recession. Brent crude futures rose by $1.62, or 1.58%, to $104.39 a

Serinus-Energy

Oil extends gains

Oil prices rallied for a third day on Tuesday as major producers Saudi Arabia and the United Arab Emirates looked unlikely to be able to boost output significantly, while political unrest in Libya and Ecuador added to supply

Serinus-Energy

Oil futures jump

Oil futures jumped on Monday, with Brent rising above $120 a barrel after Saudi Arabia hiked prices for its crude sales in July, signaling tight supply even after OPEC+ agreed to accelerate output increases over the next two

Serinus-Energy

Oil prices climb to over 2-month highs

Oil prices rose on Monday, hitting their highest in more than two months, as traders waited to see whether the European Union would reach an agreement on banning Russian oil imports. The Brent crude futures contract for July,

Serinus-Energy

Oil prices rise in tight market

Oil prices rose in early trade on Monday with US fuel demand, tight supply and a slightly weaker US dollar supporting the market, as Shanghai prepares to reopen after a two-month lockdown fuelled worries about a sharp slowdown

No more posts to show