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Biden Taps SPR, But Remains at the Mercy of OPEC+
The U.S. government announced that it would release oil from the strategic petroleum reserve in coordination with a handful of other countries in an effort to tame oil prices.

Oil Analysts See Stabilization and Higher Prices. But Risks Remain
A growing number of analysts argue that the worst is over for oil, but demand remains substantially lower.

Memorial Day Gas Prices Expected to Hit Six-Year High
On April 29 the national average gasoline price reached a new 2019 high of $2.97 per gallon—already matching last year's high—with a variety of factors expected to push prices even higher.

U.S. Shale Taps Brakes With WTI Below $50
The outlook for oil prices in 2019 is highly uncertain, but the effects of low prices are starting to wear down the U.S. shale industry. Recent data from the Dallas Federal Reserve suggests a slowdown from the U.S. shale industry is already underway.

New Permian WTI Contract Reflects Importance of Region to Oil Market
With more buyers from around the world requesting U.S. crude, a Houston-based price point has become necessary.

Despite U.S. Crude Export Surge, Import Dependence Remains High
U.S. crude exports have climbed significantly, reaching as high as 2.3 million barrels per day, but further gains will be difficult to achieve.

Houston Becomes Major Trading Hub as U.S. Crude Exports Soar
The boom in crude exports & the increased relevance of Houston in the trading world reflect significant improvements in energy security. But it’s important to keep the changes in context: The U.S. still imports a large amount of crude oil.

Bullish Speculative Bets Near Their Limit as Market Waits on OPEC
The direction of hedge funds bets in the coming weeks and months will depend on a number of factors, including the U.S. rig count, the strength of the dollar, the Fed’s decision on whether to raise interest rates, and of course OPEC.

Brent-WTI Spread Widens, But U.S. Exports Keep It In Check
The spread between benchmarks Brent and WTI has widened recently, a reflection of a sharp increase in U.S. shale production this year at a time when OPEC is cutting back.

Bullish Comments from the Saudis Appear Premature, Glut Likely to Persist
Over the past couple of years, there’s been a string of comments from executives and ministers who want and need higher prices making the case for a tighter market even though there’s little to no evidence of that reflected in the fundamentals.