Energy speculators are getting a bum rap. Instead of condemning them, they ought to be blessed, as impartial messengers of a greener future. That’s one key message in Goldman Sachs’s widely cited ‘Super Spike’ report issued Tuesday about oil prices very likely ramping to $150-200 per barrel, possibly by the time of the presidential elections.    Read More

This is crazy. Today's oil rally really doesn't make sense. There was no new headline about a major global supply disruption. There are reports Exxon has lifted "force majeure" on its exports of Nigeria crude.    Read More

Oil prices hit another new all-time high on the momentum ignited by two, very alarming words: Super Spike. In its latest report, Goldman Sachs predicted the possibility of oil reaching $150-$200 over the next 6-24 months. Remember, it was Goldman that ignited a firestorm in 2005 when Arjun Murti's team predicted oil would reach a then-outrageous...    Read More

Washington is on the warpath against high energy prices by going after excessive speculation in energy markets. Its latest efforts--closing the so-called ‘Enron loophole’ and just last week, siccing the Federal Trade Commission on energy markets--will either finally make a difference, or soon be exposed as another feckless, false promise to American consumers.    Read More

Is this a short-covering rally that's taken oil prices to another milestone over $120/barrel? Traders here on the NYMEX floor say it certainly feels like it. Traders and analysts will be sifting through Friday's open interest data to confirm whether pension funds were in fact largely responsible to $4 rally at the end of last week.    Read More

This is the last of three posts today from guest blogger Tom Kloza. Tom is Chief Oil Analyst at OPIS (Oil Price Information Service) and has his own blog. He has been writing about downstream oil markets since 1975 and was among the founders of OPIS over 25 years ago.    Read More

This is the second of three posts today from guest blogger Tom Kloza. Tom is Chief Oil Analyst at OPIS (Oil Price Information Service) and has his own blog. He has been writing about downstream oil markets since 1975 and was among the founders of OPIS over 25 years ago.    Read More

This is the first of three posts today from guest blogger Tom Kloza. Tom is Chief Oil Analyst at OPIS (Oil Price Information Service) and has his own blog. He has been writing about downstream oil markets since 1975 and was among the founders of OPIS over 25 years ago.   Read More

Today's NYMEX trading session may prove to be one of the most critical of the year. There is the distinct possibility that key "magic numbers" that have bracketed the most recent leg of the crude oil price rally will be approached in a highly volatile Wednesday session.   Read More

Another round of supply fears helped keep oil in record territory, after prices in electronic trading hit a new all-time high: just 7 cents shy of $120 a barrel. The markets reacted to "expected" supply disruptions in Nigeria to the North Sea, despite already having priced it in last week.    Read More