Jan De Nul orders Offshore Installation Vessel
Six months after the offshore installation vessel Voltaire, Jan De Nul Group orders Les Alizés, a floating installation crane vessel from the CMHI Haimen shipyard in China.Together with the Voltaire, this new vessel will be in a super-size class of its own, capable of building the newest generation of offshore wind farms.
Oil Extends Rally as Trump Reiterates Commitment to Iran Sanctions
Crude oil prices shot to a four-year high on Tuesday, catapulted by imminent U.S. sanctions on Iranian crude exports and the apparent reluctance of OPEC and Russia to raise output to offset the potential hit to global supply.Brent crude futures were up 87 cents, or more than 1 percent, at $82.07 a barrel by 10:43 a.m. EDT (1443 GMT) having touched a session peak of $82.22…
Oil Up as U.S. Drilling Stalls, Iranian Sanctions Bite
Oil prices rose on Monday as U.S. drilling stalled and investors anticipated lower supply once new U.S. sanctions against Iran's crude exports kick in from November.Brent crude oil jumped $1.09 a barrel, or 1.4 percent, to a high of $77.92, but then eased to $77.60 by 1330 GMT. U.S. light crude was 55 cents higher at $68.30."A…
Gulf Platforms Shut ahead of Hurricane
U.S. oil prices edged up on Tuesday, rising back past $70 per barrel, after two Gulf of Mexico oil platforms were evacuated in preparation for a hurricane.U.S. West Texas Intermediate (WTI) crude futures were at $70.04 per barrel at 0034 GMT, up 24 cents, or 0.3 percent from their last settlement.Anadarko Petroleum Corp…
Oil Prices Rise After U.S. Crude Inventories Fall
Oil prices rose for a second day on Wednesday after data showed U.S. crude inventories fell more than expected, easing worries about oversupply that have dragged on markets in recent weeks.Brent crude was up 40 cents, or 0.55 percent, at $73.84 a barrel by 1310 GMT, after gaining 0.5 percent on Tuesday. U.S. light crude was 20 cents higher at $68.72…
U.S. Oil Prices Steady Ahead of Sanctions on Iran
Oil prices steadied on Thursday, with U.S. crude near a 3-1/2-year high, but supply remained tight with investors concerned by the prospect of a big fall in crude exports from Iran due to U.S. sanctions.U.S. light crude was down 5 cents at $72.71 per barrel by 1331 GMT, after hitting $73.06 on Wednesday, its highest since November 2014.
U.S. Oil Steadies Ahead of Iran Sanctions
U.S. sanctions likely to cut Iranian crude exports sharply; supply disruptions, record demand leave little spare capacity. Oil prices steadied on Thursday, with U.S. crude near a 3-1/2-year high, but supply remained tight with investors concerned by the prospect of a big fall in crude exports from Iran due to U.S. sanctions. U.S.
Oil Falls as OPEC Nears Deal to Raise Production
Oil prices fell on Thursday as crude exporters in OPEC appeared to be nearing a deal to increase production.Benchmark Brent crude dropped $1.80 a barrel, or 2.4 percent, to a low of $72.94 before recovering a little to $73.30, down $1.44, by 1358 GMT. U.S. light crude was 71 cents lower at $65.00.Brent reached a 3-1/2-year…
Oil Falls On US Drilling
Oil prices fell on Monday, with U.S. crude easing from two-year highs on prospects of higher output, but losses were limited before an OPEC meeting that is expected to extend output limits. Brent crude oil was down 10 cents at $63.76 a barrel by 1430 GMT. U.S. light crude was 70 cents lower at $58.25. U.S. crude oil production…
U.S. Drilling Balances OPEC Cuts
OPEC and other producers expected to keep output limits. Oil prices fell on Monday, with U.S. crude easing from two-year highs on prospects of higher output, but losses were limited before an OPEC meeting that is expected to extend output limits. Brent crude oil was down 30 cents at $63.56 a barrel by 1310 GMT. U.S. light crude was 65 cents lower at $58.30. U.S.
With Keystone Pipeline Shut, US Oil Prices Near 2-year High
U.S. oil prices remained near two-year highs on Monday on the back of the ongoing closure of the Keystone pipeline connecting Canada and the United States, while expectations of extended OPEC-led supply cuts also supported markets. U.S. West Texas Intermediate (WTI) crude futures were at $58.91 a barrel at 0029 GMT, 4 cents…
Oil Steadies Ahead of U.S. Stocks Data
U.S. oil inventories data due in next two days and oil output also rising, dampening price rises. Oil prices steadied on Tuesday, supported by signs that global supply may be tightening gradually and restrained by rising U.S. shale production. Benchmark Brent crude was unchanged at $51.66 a barrel by 1120 GMT. U.S. light, sweet crude was also unchanged on the day at $47.37. "U.S.
Oil Edges Up as U.S. Stocks Fall
U.S. crude oil inventories drop 9.2 mln barrels - API. Oil prices edged up on Wednesday, lifted by declining U.S. crude inventories, although markets were still restrained by excess supply. Market focus was turning to the release of official U.S. Energy Information Administration data later on Wednesday for a further update on inventories.
Oil Falls as Banks Cut Price Forecasts
BNP Paribas, Barclays chop price forecasts and oversupply keeping medium-term outlook weak. Oil prices fell on Tuesday as global oversupply encouraged several banks to cut their forecasts for crude for this year and 2018. Brent crude was down 50 cents at $46.38 a barrel by 1120 GMT. U.S. crude was 50 cents lower at $43.90.
Despite Sanctions Relief, Shell Still Cool on Iranian Oil Buys
Royal Dutch Shell has bought only three cargoes of Iranian oil since sanctions were eased a year ago, a small fraction of what it used to buy and an indication of the legal difficulties and high prices that still hamper the trade. The Anglo-Dutch firm did not give a reason for the drop in purchases, which were disclosed in its annual report, and the company declined to comment further.
Oil Eases as Focus Returns to Oversupply
Oil prices have risen too high, too soon - BNP Paribas. Oil prices slipped on Friday as investors cashed in on recent gains and focus shifted again to swelling global inventories that have cushioned impact from a series on unplanned supply outages. Global benchmark Brent crude prices traded down 23 cents at $48.58 a barrel at 1143 GMT. U.S.
Oil Up as IEA Projects Big non-OPEC Output Drop
Iran reaffirms plan to regain market share; analysts say rebalancing will largely depend on U.S. Crude prices firmed on Thursday after the International Energy Agency (IEA) said 2016 would see the biggest fall in non-OPEC production in a generation, helping to rebalance a market dogged by oversupply. IEA chief Fatih Birol…
France to Tighten Anti-Corruption Laws
France is tightening its anti-corruption laws to clean up its image after several French companies were slapped with huge fines abroad, with planned reforms including greater protection for whistleblowers and a new anti-corruption agency. Two years ago, France's biggest bank, BNP Paribas, was fined $9 billion by U.S. authorities over violations of sanctions against Sudan, Cuba and Iran.
BNP Paribas Exits US Energy Loan Market on Oil Price Rout
France's largest bank BNP Paribas (BNPP.PA> is pulling out of a niche U.S. energy lending business for the second time in four years after plunging oil prices dragged what was once seen as some of the safest energy loans into losses. "Given the current environment in the oil and gas markets and the short to medium term outlook…
Shell Signs $15.3b Bridge Loan
Royal Dutch Shell (RDSa.L) has agreed a 10.07 billion pound ($15.28 billion) bridge loan from a group of relationship banks backing its 47 billion pound takeover of smaller rival BG Group (BG.L), the company announced on Friday. The two-year loan replaces a 3.025 billion pound interim bridge loan that was provided in early April by Bank of America Merrill Lynch.
