Latest News

Oil prices: Expect a ‘few years of pain’ after 2022, analyst says


S&P 500




Dow 30








Russell 2000




Crude Oil
















10-Yr Bond
















CMC Crypto 200




FTSE 100




Nikkei 225




Although crude oil prices plunged on Friday, energy costs in the coming years could be a different story, an oil analyst says.

“I think the energy transition is going to be moving into another quarter,” Tom Kloza, Global Head of Energy Analysis told Yahoo Finance Live (video above). “That is going to herald really the next few years of pain.”

Russia’s invasion of Ukraine has kept oil and other energy costs at historically elevated levels as Europe is forced to dislodge its dependency on Russian natural gas.

After Russian President Vladimir Putin called for a partial military mobilization earlier this week, Kloza noted that Russia cutting off the flow of crude oil and refined products is “still very, very much a threat.”

Oil prices hit an eight-month low on Friday as West Texas Intermediate (CL=F) crude futures fell 6% to $78/barrel while Brent (BZ=F) futures dropped 5% to hover just above $85/barrel.

U.S gasoline prices, meanwhile, have been mostly on a steady downward trend since reaching a record in mid-June.

“We’ve survived a gasoline scare when we were at $5.0165 on June 14th,” Kloza said, adding that he doesn’t see a big move higher for the rest of 2022.

This content is not available due to your privacy preferences.

Update your settings here to see it.

In 2023, however, “we will see what I call ‘petronoia’ — the fear that there will not be enough petroleum molecules to go around, particularly in the gasoline season,” the analyst explained. “It will manifest itself, and then maybe we’ll have another move.”

He added that he doesn’t think that gasoline prices in 2023 are “going to be much more expensive than what we saw in the summer of 2022. But I do believe that the bias is toward higher prices for energy as opposed to lower.”

Furthermore, the current demand for certain U.S refined products has been high and a harsh winter could impact supplies.

“Diesel and heating oil and jet fuel — those are the products to watch,” Kloza said.

The sun sets behind an idle pump jack near Karnes City, USA, April 8, 2020. (AP Photo/Eric Gay, File)

Ines Ferre is a markets reporter for Yahoo Finance. Follow her on Twitter at @ines_ferre.

Click here for the latest economic news and economic indicators to help you in your investing decisions

Read the latest financial and business news from Yahoo Finance

Download the Yahoo Finance app for Apple or Android

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube



Analysis-After feverish week, global investors lick wounds and brace for more chaos

Global investors are preparing for more market mayhem after a monumental week that whipsawed asset prices around the world, as central banks and governments ramped up their fight against inflation. The Federal Reserve delivered its third straight seventy-five basis point rate hike while Japan intervened to shore up the yen for the first time since 1998. “It’s hard to know what will break where, and when,” said Mike Kelly, head of multi-asset at PineBridge Investments (US).


The Great Bond Bubble Is ‘Poof, Gone’ in Worst Year Since 1949

(Bloomberg) — Week by week, the bond-market crash just keeps getting worse and there’s no clear end in sight.Most Read from BloombergBank of England Says Paper Banknotes Only Good for One More WeekThe Great Bond Bubble Is ‘Poof, Gone’ in Worst Year Since 1949‘Read Putin More Often and Carefully,’ Lavrov Tells the WorldUK Market Plunge Sparks Talk of Emergency BOE Rate HikeWith central banks worldwide aggressively ratcheting up interest rates in the face of stubbornly high inflation, prices are

The Wall Street Journal

Buying the Stock-Market Dip Is Backfiring. Investors Keep Piling In Anyway.

It is the worst year for buying the stock-market dip since the 1930s. Instead of rebounding after a tumble, stocks have continued to fall, denting a strategy that soared in popularity over the past decade.

Yahoo Sports

No. 7 USC survives tough road challenge from Oregon State as Caleb Williams leads late rally

USC needed a touchdown in the final minutes to fend off Oregon State on the road.


Putting 20% Down on a Mortgage May Be a Mistake

When you put 20% down on the purchase of a home, you don’t have to borrow as much money as someone whose down payment is only 5% or 10%. And as a result, your monthly mortgage payment may be considerably … Continue reading → The post This One Chart Shows Why Putting 20% Down on a Mortgage May Be a Mistake appeared first on SmartAsset Blog.

The Telegraph

Tumbling gas prices on track to slash £60bn cost of energy bailout

Britain’s energy bills freeze could prove much less costly than feared by early next year, as City forecasters predict that gas prices will plunge this winter following a successful scramble across Europe to fill reserves.


Nikola’s Milton Was ‘Hyper-Focused’ on Company’s Stock Price, CFO Tells Jury

(Bloomberg) — Nikola Corp.’s Trevor Milton was so “hyper-focused” on the company’s stock price that when the shares fell $5 on their first day of trading in June 2020, he thought something was wrong with the Nasdaq, jurors at his criminal fraud trial were told.Most Read from BloombergBank of England Says Paper Banknotes Only Good for One More WeekThe Great Bond Bubble Is ‘Poof, Gone’ in Worst Year Since 1949‘Read Putin More Often and Carefully,’ Lavrov Tells the WorldUK Market Plunge Sparks Tal

Yahoo Finance Video

Investors consider the odds and impact of a recession in 2023

Yahoo Finance columnist Rick Newman discusses the debate over the possibility of a soft landing following the Fed’s latest rate hike and whether or not the U.S. economy is headed for a recession.

Motley Fool

Market Pessimism Returns, 3 Stocks to Buy While Others Are Fearful

Stocks have taken a bumpy ride this year. The S&P 500 was in a free fall for the first six months of 2022, tumbling about 24% from peak to trough on fears that rising interest rates to combat inflation could cause a recession. With the market growing fearful again, our contributors think that some stocks are starting to look like great bargains.

Motley Fool

2 Top Energy Stocks to Buy Right Now

If you are looking to add exposure to oil and gas stocks, tread carefully. And consider the strongest, most-diversified names.


This Is This Best Age to Retire

Part of a sound retirement planning strategy involves choosing the best age to retire. The normal retirement age is typically 65 or 66 for most people; this is when you can begin drawing your full Social Security retirement benefit. It … Continue reading → The post What Are the Best Ages to Retire? appeared first on SmartAsset Blog.

Buying the Stock-Market Dip Is Backfiring. Investors Keep Piling In Anyway.

Previous article

Gold: Should investors hold it in a bear market? Experts weigh in

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News