Posted 1/16/2024, 1:00:00 PM
Oil Prices Whipsaw on Weather, Geopolitics, But Ample Supply Looms
- Cold snap in U.S. and attacks on ships in Red Sea boost oil prices, but increasing product stocks could lower them
- Houthis strike U.S.-owned tanker in retaliation for U.S. strikes in Yemen
- Extreme cold shuts in 425,000 bpd of Bakken shale oil production
- Nigeria tenders operator contract for 210,000 bpd Port Harcourt refinery
- U.S. sanctions more Iran-linked entities for alleged crude oil shipments supporting Revolutionary Guard