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While there is still plenty of potential new oil supply on the market, particularly from OPEC+, analysts remain very bullish and banks are beginning to talk about $100 oil. In this week’s Global Energy Alert , our research team delves into the role of natural gas in bringing peace to the Middle East. Sign up today to get breaking news, expert analysis, and trading tips. Friday, February 26th, 2021 Oil prices took a breather on Friday after Brent traded just above $67 on Thursday. While downside risks remain, banks are now openly talking about the possibility of $100 oil at some point. OPEC+ still has the power to send oil prices down, but very few analysts are staking out overly bearish outlooks. Texas scrutinizes blackouts. 5 members of ERCOT, the grid manager in Texas blamed for the historic outages last week, resigned on Wednesday. A sixth withdrew his application. Executives from Calpine Corp., Vistra Corp. (NYSE: VST), and NRG Energy (NYSE: NRG) blamed natural gas-supply shortages Texas gas production fell by half. Natural gas production in Texas collapsed by half during the freeze. Traders betting on $100 oil. The open interest on $100 strike Dec 2022 calls has exploded […]
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