oil market

Exxon Mobil and Chevron posted their lowest annual profits since 2021 in their earnings reports on Friday, a sign that now is not really a time when big oil is looking to make any kinds of sizeable investments in new oil production.

Trend lines indicate both are headed downard.

When companies are paying higher import taxes, they have less money to spend on energy-hungry projects.

Western sanctions on oil from places like Iran, Russia, and Venezuela have caused a growing number of oil tankers to shut off the tracking system that could alert authorities of their movements.

Since the end of September, Brent Crude has been sliding — down to the $84-a-barrel range, more than a 10% decline in just over a week. This is also playing out at the pump, with gas down about eight cents a gallon in the last week.

Tight global supply raises costs for industry and motorists, but for now, the pain is milder than it was during price spikes decades earlier.

The cost to ship fuel has more than doubled since February.

The economies of China, the U.S. and Europe will all be affected by the cartel’s move to boost energy prices.

Spare capacity has been overstated, says oil analyst Abhi Rajendran. Then there’s the matter of isolating Russia.

If the S&P 500 falls an additional 1.4%, the bull market run will have officially ended.