Brent crude oil prices could top $100 a barrel as markets react to
Brent futures, the international benchmark for crude oil, were trading at $77.37 Tuesday morning, according to CME Group. WTI futures, the
Oil prices haven’t reached $100 a barrel since 2014.
“The higher price will only be blamed on the Trump administration. There’s not much anybody can do if the sanctions come in and are enforced properly,” Fereidun Fesharaki, founder and chairman of FACTS Global Energy, told CNBC.
Fesharaki said if it weren’t for the trade war and sanctions, he predicts Brent futures would actually go down as low as $70.
“But now the sanctions threat is real and less than two months in front of us. That will transform the market into much higher prices,” Fesharaki said.
Countries that buy Iranian oil have until to stop purchasing from that country or face
It’s also an opportunity for
“It’s a fallacy to believe that
Rules on methane emissions may be loosened
President Donald Trump’s latest rollback of Obama-era environmental policies deals with methane gas emissions. The proposal would give drillers a year to do leak inspections instead of six months. Repairs would have to be done within 60 days, not the current limit of 30 days.
Proponents say it gives companies more time to reach remote drilling locations. But environmentalists argue that it allows more harmful emissions into the air in the meantime. The Trump administration has rolled back restrictions on carbon emissions for power plants and vehicles.
Tribes sue to stop Keystone XL
The Keystone XL Pipeline saga continues as two Native American tribes sue the Trump administration for failing to adhere to historical treaty boundaries and bypassing environmental impact studies.
The long-delayed pipeline received approval from Trump shortly after he took office. The 1,200 Keystone XL will cross the Canadian border, pass through