Price Watch
A daily bulletin about oil and gas
The Futures
Oil and gas prices are more than numbers—they reflect global events, technological advancements, and environmental concerns.
Horizon Energy Digest
Russia’s Oil Revenues Have Dropped by 30% Since June
Russia’s oil export revenues have dropped nearly 30% since late June due to falling international oil prices. Despite increasing export volumes, lower prices have reduced total income. Brent crude is priced in the low $70s per barrel, negatively impacting the price of Russian Urals crude. Russia is also cutting production as part of OPEC+ agreements but has overproduced this year and plans to compensate next year.
U.S. crude oil prices fall ahead of pivotal Fed decision on interest rates
The prices of crude oil in the U.S. and Brent have dropped significantly, by over 13% and 15% respectively, in the third quarter. This decline is influenced by the anticipated interest rate cuts by the Federal Reserve. Additionally, rising geopolitical tensions in the Middle East, particularly between Israel and Hezbollah, are contributing to market uncertainty. Traders are also awaiting the latest U.S. crude inventory data, which could further impact prices.
Curious Minds Corner
Question of the week
What is the primary component of natural gas?
The first person to answer the week’s question wins a reward from LDV Consulting. Good Luck!