Russia

After weeks of speculation, OPEC made it official this weekend, announcing they will restore oil production at a faster clip than expected.  Patrick DeHaan with Gasbuddy.com said the increased production will start in June.   “Raising production by over 400,000 barrels a day," DeHaan noted.  "OPEC has really b...

Iran, Venezuela, peace talks between Ukraine and Russia, and the struggling Chinese economy, there's lot for investors, specifically oil investors to focus on these days.  Patrick DeHaan with GasBuddy.com said that’s been the pattern for the oil community for the past two months.   “Essen...

Oil prices continue their downward trend.  West Texas Crude was down to $65 per barrel in Monday’s trade, while Brent Crude was trading around $66 per barrel, a nearly 2% decrease for both.  Patrick DeHaan with Gasbuddy.com says not only ha...

Oil futures moved higher Monday, after the United States imposed fresh sanctions on Iran.  The U.S. new sanctions on more than 30 brokers, shipping companies and tanker operators for their role in transporting Iranian oil.  According to Reuters, ...

Oil prices were holding steady, to up slightly in early Tuesday trade, following Monday’s jump higher, thanks to a drone attack on a pipeline reducing flows from Kazakhstan.  Both West Texas and Brent crude were trading slightly higher in Tuesday’s trade, at around $71 and $75 per barrel respectively.  CNBC noted the dron...

Tariffs against Canada and Mexico have been paused through the rest of this month, and if you believe that means the oil markets are quiet, you would be mistaken.  Oil prices in early Monday action were trading slightly higher, but still in the $72 a barrel range.  Patrick...

Ukraine’s Ag Department says the country’s grain output in the 2024-2025 marketing season is now forecast to drop 13% compared to the previous year, as corn, barley, and rye output are all projected to drop.  Corn production will plunge 24 percent from its 2023-2024 estimate to 24.6 million metric...

After weeks of promise, the Trump Administration announced tariffs against Mexico and Canada of 25% this weekend, plus an additional 10% tariffs against China.  While the tariffs were expected, it was still a shock to investors, with the Dow shedding over 500 points in early trade.  Oil pri...

Is Ukraine still relevant in the world corn and wheat export markets?  Joana Colussi, with the University of Illinois, has been writing about the subject for the Farmdoc Daily Website.  Since the beginning of the war with Russia, Colussi says Ukraine's economy has been hit hard.  Its GDP...

For the second week of the new year, oil prices have moved higher.  Patrick DeHaan with GasBuddy.com said this most recent trend started last week.   “The Biden administration issuing harsher sanctions on shipping companies and vessels that would operate and take sanctioned crude oil from countries like Iran and Russia and deliver it to countries like China and India," DeHaan noted.  "Th