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WTI jumped 12% Friday as disrupted shipping and supply fears pushed crude toward $100 a barrel.
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Rigzone talks to Rebecca Babin, a senior equity trader for CIBC Private Wealth in New York.
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Maritime traffic in the Strait of Hormuz has ground to a near-complete halt, with no oil shipments going through in the past 24 hours.
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The widening conflict in the Middle East is stoking fears over a global energy crunch.
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'Both companies recognize the challenge of declining production on the NCS in the coming decade'.
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Analysts at BMI, a Fitch Solutions company, revealed that they expect 'significant yet short lived rallies in oil and gas prices'.
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Chevron signed an agreement to supply about 14 petajoules of locally produced natural gas over five years to Horizon Power, a power utility serving Western Australia.
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'At a time of huge global uncertainty, the UK should be making decisions for the long term in the interests of energy security', OEUK CEO David Whitehouse said.
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Libya's NOC said the Sarir refinery is back to producing gasoline after a three-year hiatus.
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Over 10 million barrels of Russian crude have already been bought, according to people with direct knowledge of the deals.
