Middle East Conflict Exposes Fragile Energy Markets, Chevron Chief Warns
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Chevron CEO Warns Shrinking Oil and Fuel Buffers Leave Market More Vulnerable
Chevron CEO Mike Wirth says the global oil and gas market has tightened as the conflict involving the United States, Israel and Iran enters its ... The post Chevron CEO Warns Shrinking Oil and Fuel Buffers Leave Market More Vulnerable first appeared on [your]NEWS.
Middle East conflict exposes fragile energy markets, Chevron chief warns
London: The global energy system has become more fragile as the Middle East conflict enters its eighth month, with buffers for oil and fuel supplies continuing to shrink, according to Chevron Chief Executive Officer Mike Wirth.Speaking at the Energy Intelligence Forum in London, Wirth said underlying oil and gas market fundamentals were tightening, leaving the market more vulnerable to supply disruptions.“The energy system is more fragile today …
The actual delivery price of physical oil in Asia has approached $150 per barrel. This is significantly higher than Brent crude, which is trading around $100 on the futures market. Banker.az reports, citing Reuters, that this was stated by Mike Wirth, CEO of US energy giant Chevron, at the Energy Intelligence Forum in London. According to him, the conflict in the Middle East is the eighth […]
Mike Weirth, CEO of Chevron, stated that oil and gas market fundamentals became more stressful as the Middle East conflict continued, and oil and fuel supply safety margins regressed. According to Reuters, today, during the Energie Intelligence Forum in London, during Tuesday, the energy system became more fragile than at the beginning of the conflict, while the limit of [...] was rising: oil and fuel reserves are retreating as the conflict cont…
"The fundamentals of the oil and gas market are becoming increasingly restrictive," Chevron's CEO noted.
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