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2022-05-28

what is the alternative to oil? Seems like renewable energy cannot replace oil yet at this moment.

Oil Settles at Highest in 11 Weeks Amid Tight Global Market

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Seems like renewable energy cannot replace oil yet at this moment.","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/614460988","repostId":1116188240,"repostType":4,"repost":{"id":"1116188240","pubTimestamp":1653702208,"share":"https://www.laohu8.com/m/news/1116188240?lang=&edition=full","pubTime":"2022-05-28 09:43","market":"us","language":"en","title":"Oil Settles at Highest in 11 Weeks Amid Tight Global Market","url":"https://stock-news.laohu8.com/highlight/detail?id=1116188240","media":"Bloomberg","summary":"WTI rose 1.6% this week, posting a fifth straight weekly gainBofA warns of Brent at $150/bbl if supp","content":"<html><head></head><body><ul><li>WTI rose 1.6% this week, posting a fifth straight weekly gain</li><li>BofA warns of Brent at $150/bbl if supplies don’t recover</li></ul><p>Oil posted a fifth straight weekly gain to close at the highest since early March on continued signs of tight fuel inventories as Americans head into summer driving season.</p><p>West Texas Intermediate settled above $115 after trading in a volatile session ahead of the Memorial Day holiday. Drivers are facing soaring costs heading into the peak holiday driving period with gasoline stockpiles at the lowest seasonal level since 2014. New York gasoline futures settled above $4 a gallon first the first time since March 16.</p><p>Fuel markets have tightened globally following Russia’s Ukraine invasion in late February, which has upended trade flows and fanned inflation. The Biden administration is reaching out to oil companies to inquire about shutteredrefineries, according to a person familiar with the matter.</p><p>“If supply does not recover, oil demand may have to ease,” Bank of America analysts led by Francisco Blanch wrote in a report, saying that Brent futures could soar to $150 a barrel.</p><p><img src=\"https://static.tigerbbs.com/3edea3d6698b0ac497845be9b4d4fac7\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Oil has advanced during the past four weeks, bringing this year’s gains to more than 50%, and many analysts believe the immediate outlook remains bullish. Markets also remain in backwardation, with near-term prices trading above longer-dated ones.</p><p>“WTI timespreads have rallied to reflect the risk of tank bottoms at Cushing and the need to keep more barrels at home,” said Livia Gallarati, senior oil analyst at Energy Aspects. The December-December spread, a gauge used by traders to bet on the health of the market, touched a fresh record high on Friday.</p><p>Prices also rose early Friday afternoon asnews emergedthat Iran’s paramilitary Revolutionary Guard said its navy had seized two Greek oil tankers in the Persian Gulf.</p><p>Meanwhile, theGroup of Sevenurged OPEC to pump more oil as the cartel and its allies, which have rebuffed calls to open the taps, prepare to meet next week. Bank of America Corp. warned that a loss of Russian exports following the invasion of Ukraine “could trigger a full-blown ‘80s-style oil crisis.”</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Oil Settles at Highest in 11 Weeks Amid Tight Global Market</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOil Settles at Highest in 11 Weeks Amid Tight Global Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-05-28 09:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-05-26/oil-poised-for-fifth-weekly-gain-ahead-of-summer-driving-season?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>WTI rose 1.6% this week, posting a fifth straight weekly gainBofA warns of Brent at $150/bbl if supplies don’t recoverOil posted a fifth straight weekly gain to close at the highest since early March ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-05-26/oil-poised-for-fifth-weekly-gain-ahead-of-summer-driving-season?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2022-05-26/oil-poised-for-fifth-weekly-gain-ahead-of-summer-driving-season?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1116188240","content_text":"WTI rose 1.6% this week, posting a fifth straight weekly gainBofA warns of Brent at $150/bbl if supplies don’t recoverOil posted a fifth straight weekly gain to close at the highest since early March on continued signs of tight fuel inventories as Americans head into summer driving season.West Texas Intermediate settled above $115 after trading in a volatile session ahead of the Memorial Day holiday. Drivers are facing soaring costs heading into the peak holiday driving period with gasoline stockpiles at the lowest seasonal level since 2014. New York gasoline futures settled above $4 a gallon first the first time since March 16.Fuel markets have tightened globally following Russia’s Ukraine invasion in late February, which has upended trade flows and fanned inflation. The Biden administration is reaching out to oil companies to inquire about shutteredrefineries, according to a person familiar with the matter.“If supply does not recover, oil demand may have to ease,” Bank of America analysts led by Francisco Blanch wrote in a report, saying that Brent futures could soar to $150 a barrel.Oil has advanced during the past four weeks, bringing this year’s gains to more than 50%, and many analysts believe the immediate outlook remains bullish. Markets also remain in backwardation, with near-term prices trading above longer-dated ones.“WTI timespreads have rallied to reflect the risk of tank bottoms at Cushing and the need to keep more barrels at home,” said Livia Gallarati, senior oil analyst at Energy Aspects. The December-December spread, a gauge used by traders to bet on the health of the market, touched a fresh record high on Friday.Prices also rose early Friday afternoon asnews emergedthat Iran’s paramilitary Revolutionary Guard said its navy had seized two Greek oil tankers in the Persian Gulf.Meanwhile, theGroup of Sevenurged OPEC to pump more oil as the cartel and its allies, which have rebuffed calls to open the taps, prepare to meet next week. Bank of America Corp. warned that a loss of Russian exports following the invasion of Ukraine “could trigger a full-blown ‘80s-style oil crisis.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":795,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":82,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/614460988"}