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…
Oil Prices Jump as Gulf of Mexico Rigs Evacuated
Oil prices rose sharply on Tuesday after the evacuation of two Gulf of Mexico oil platforms in preparation for a hurricane.U.S. light crude rose $1.60 a barrel from Friday's close to a peak of $71.40, its highest since mid-July…
Seadrill Close to Restructuring Deal with Bondholders
Seadrill's main owner, billionaire John Fredriksen, is close to a deal with unsecured bondholders and South Korean shipyards on a restructuring plan for the rig operator, sources familiar with the talks said on Thursday. The Norwegian company…
Oil Trades Strengthen to Mid-2015 Levels on Iranian Unrest
Oil prices posted their strongest opening to a year since 2014 on Tuesday, with crude rising to mid-2015 highs amid large anti-government rallies in Iran and ongoing supply cuts led by OPEC and Russia. U.S. West Texas Intermediate…
Oil Rises on Saudi Purge, Tighter Markets
Saudi crown prince cements power with high-level arrests; U.S. rig count falls to lowest level since May 2016. Oil prices hit their highest since July 2015 on Monday as Saudi Arabia's crown prince cemented his power over the weekend through an anti-corruption crackdown…
Crude Falls as Market Mulls Storm Impact
Harvey brings heavy rainfall, flooding to U.S. Gulf Coast. Crude prices dipped on Tuesday as the market grappled with the shutdown of some 13 percent of refining capacity in the United States after a hurricane ripped through the heart of the country's oil industry.
Oil Prices Dip as OPEC Oil Exports Rise
Oil prices edged lower on Friday and were on track for weekly losses, weighed down by rising OPEC exports and strong output from the United States. Brent crude futures, the international benchmark, were trading at $51.76 a barrel at 1141 GMT…
Oil Hovers Above Four-month Lows, Inventories Curb Recovery
Oil prices hovered above four-month lows on Thursday, with a recovery reined in by investor concerns that OPEC-led supply cuts were not yet reducing record U.S. crude inventories. Benchmark Brent crude oil was trading at $50.49 a barrel by 1315 GMT…
Oil Steady in Slow Pre-Holiday Trading
Saudi Oct crude exports dropped, but refined fuel exports rose. Asian refining capacity to jump next year. Oil prices were steady on Tuesday in timid trading ahead of the year-end holidays, with investors beginning to unwind…
Oil Rebounds on OPEC Output Promise
Oil producers plan cut following Nov. 30 OPEC meeting; but market fundamentals remain weak. Oil rose more than 1 percent on Monday, boosted by a commitment from OPEC to stick to a deal to cut output, but prices remained more…
Oil Prices Fall as Iraq Resists Joining Output Cut
Oil prices fell on Monday as Iraq said it wanted to be exempt from an OPEC deal to cut production, though losses were capped by Iran saying it would encourage other members to join an output freeze. Brent crude futures were down 45 cents at $51.33 a barrel by 1340 GMT. U.S.
Coal Surges Past $50 as Crude Prices Sag
Both coal and oil rallied from over 10-year lows in early 2016, but coal, oil have diverged since June. Coal prices in 2016 have regained their footing above the psychological threshold of $50, leaving the oil industry wondering when crude prices will return to form.
Oil Slides on Oversupply, Economic Headwinds
Oil prices fell on Monday, holding near two-month lows amid worries that a global glut of crude and refined products would weigh on markets for some time. Brent crude futures were trading at $45.34 a barrel at 1149 GMT, down 35 cents from their previous close, while U.S.
Tullow Oil Convertable Bond Offering
Tullow Oil plc today announces the launch of an offering (the “Offering”) of $300 million of Convertible Bonds due 2021 (the “Bonds”). The proposed Convertible Bond Offering will further diversify Tullow Oil’s sources of funding…
Ithaca Energy Completes RBL Redetermination
Ithaca Energy Inc. announced having successfully completed its planned semi-annual reserves based lending (“RBL”) facilities review and continues to maintain in excess of $100 million of funding headroom ahead of planned first…
Oil Resumes Rise After Brief Pause
Oil prices rose on Monday, extending recent gains, building on three weeks of higher prices and reversing earlier losses from traders taking profits. Front-month Brent crude was trading at $45.45 per barrel at 1302 GMT, up 34 cents from its last settlement. U.S.
Oil Down on Trader Profit Taking
Expected rise in OPEC supply to weigh; U.S. rig count down to 2009 levels. Oil prices slipped on Monday as traders took profits after three weeks of gains and as a jump in the dollar late last week was priced into fuel markets.
Oil falls below $43 ahead of Doha freeze Talks
Low trading volumes ahead of weekend producer meeting; top producers to meet Sunday to discuss freezing output. Oil prices fell on Friday in thin trade as analysts said a weekend meeting of major oil exporters would do little…
Iran's Tankers Target India, EU
Iran wants to up exports to India by 200,000 bpd within 6 months. With Iran ready to resume business as usual with the world under a historic nuclear deal, Tehran will target India, Asia's fastest-growing major oil market, and…
Petrobras Extends Rally on Capital Injection Plan
Petrobras was leading LatAm credit markets higher on Friday following news that the Brazilian government was considering a plan to inject fresh capital into the beleaguered oil company. The issuer's 2024s were extending Thursday's late-day rally to trade at 83.50-84.00 on Friday…
