Oil Dips 2% as Hurricane Fears Ease
Oil prices fell more than 2% on Friday as traders grew less fearful of prolonged supply disruptions from a hurricane in the U.S. Gulf of Mexico, while China's latest economic-stimulus packages failed to impress some oil traders.U.S. West Texas Intermediate futures CLc1 led the decline…
Kemp: Oil bears focus attention on low demand and planned production boost
Investors remain resolutely pessimistic about the future of petroleum prices, despite growing confidence that the U.S. Federal Reserve is going to cut interest rates in order to stimulate consumer spending and business investment. Fund managers sold oil futures and…
Kemp: Oil bears focus attention on low demand and planned production boost
Investors remain resolutely pessimistic about the future of petroleum prices, despite growing confidence that the U.S. Federal Reserve is going to cut interest rates in order to stimulate consumer spending and business investment. Fund managers sold oil futures and…
Kemp: Oil investors reduce positions to a record low amid financial meltdown.
Investors reduced their positions in petroleum to the lowest levels for at least 10 years early last week as part of a general retreat from risk amid growing concerns about a global slowdown. Over the course of the week ending August 6, hedge funds and other money…
Kemp: Oil investors reduce positions to record lows amid financial meltdown.
Investors reduced their positions in petroleum to the lowest levels for at least 10 years early last week as part of a general retreat from risk amid growing concerns about a global slowdown. Over the course of the week ending August 6, hedge funds and other money…
US Energy Firm Payouts to Oil Investors Top Exploration Spending for First Time
Top U.S. energy companies last year paid out more of their earnings to shareholders than they invested in new oil and gas fields for the first time, according to a report released on Tuesday.The outlook for stronger energy prices has not changed the focus on investor returns from the U.S.
Colombia, Shell Ink Offshore E&P Contracts
Colombia's government on Monday said it signed two exploration and production contracts with Shell in offshore areas of the Caribbean Sea that will require the company to make initial investments of $100 million.Colombia recently modified contractual terms for offshore exploration and launched a Permanent Area Allocation Process
Oil Rises as Investors Latch on to OPEC Cuts, Supply Outlook
Oil rose on Monday, reversing earlier losses, as investors latched on to positive supply-side drivers for the market, although concern about the wider economy simmered in the background after data pointed to a slowdown in China.Brent crude oil futures were up 12 cents at $62.82 a barrel by 1520 GMT, while U.S.
Oil Rises Ahead of OPEC, Pressured by China Tariffs
Oil prices rose on Monday ahead of an OPEC meeting this week and as investors assessed the impact of a trade dispute between the United States and China.U.S. light crude oil hit a two-month low of $63.59 a barrel but then recovered strongly to trade at $65.40, up 34 cents, by 1350 GMT.
China's Tariffs on US Oil Would Disrupt $1 Bln Monthly Business
China's threat to impose duties on U.S. oil imports will hit a business that has soared in the last two years, and which is now worth almost $1 billion per month.In an escalating spat over the United States' trade deficit with most of its major trading partners, including China, U.S.
Oil Nears Five-Month Highs
Brent, WTI on track for biggest weekly gains in two months; U.S. refineries restarting after hurricane shutdowns. Brent oil prices held steady near five-month highs, and were on track for the highest weekly rise since the end of July on higher demand forecasts and the restart of oil-hungry refineries in the United States.
Big Monthly Loss for WTI Looms in Harvey's Wake
U.S. gasoline at two-year high above $2 a gallon, as almost a quarter of U.S. U.S. crude oil prices are on track to post the steepest monthly losses in more than a year on Thursday as concerns spread over falling demand in the world's top oil-consuming country after storm Harvey knocked out almost a quarter of its refineries.
Funds Pull Back from Permian as U.S. Shale Heats Up
Cash, people and equipment are pouring into the prolific Permian shale basin in Texas as business booms in the largest U.S. oilfield. But one group of investors is heading the other way - concerned that shale may become a victim of its own success. The speed of the recovery in the U.S.
Sonatrach CEO Urges Simplifying Business, Focus On Output
The new chief of Algeria's state energy company Sonatrach has urged employees to simplify bureaucracy, and focus on the core business of production as the North African state deals with lower oil prices, an internal company letter shows. The message from new CEO Abdelmoumen…
Oil Rebounds on Falling U.S. Crude Stocks
API data shows 4.2-mln-barrel draw in U.S. crude stocks; Russia says has cut production by more than 300,000 bpd. Oil prices rebounded from near 2017 lows on Wednesday after preliminary data showed a much larger-than-expected fall in U.S. crude stocks, reviving bullish sentiment about easing oversupply.
Oil Investor Impatience Grows Over Global Surplus
Oil investors are growing increasingly disgruntled with the pace at which supply and demand are rebalancing, cutting their bullish bets and pushing the benchmark price to its biggest discount relative to future prices in nine months. The premium of Brent crude futures for delivery in six months over those for prompt delivery…
Oil Eases as Iran, Libya Output Rises
Iran crude, condensate sales near 2011 peak; Libya oil production rises above 500,000 bpd. Oil prices eased on Tuesday on news that Iran and Libya have continued to increase production, overshadowing an OPEC agreement struck last week to freeze output levels in a bid to stem a two-year price rout.
Texas Oil Regulator Expects $60/barrel Crude by 2017
A Texas oil industry regulator expects crude oil prices to eclipse $60 per barrel by next year as global supply and demand balance, a price that would again make production profitable across the largest producing U.S. state. Any rise in oil prices would be a welcome relief to Texas energy companies…
Brexit Just One of Many Risks for Oil Prices
Regardless of whether Britain votes to leave the EU on Thursday, oil investors are likely to stay focussed on how to counter the risk of further price slides. Once global financial markets stabilise after the referendum result, analysts say the most likely near-term outlook for oil is decline…
The Latest Oil Bet: From Too Much to Too Little
Oil investors are finally buying into the notion that the biggest risk to the price now is likely to be supply falling short of demand, rather than from any stubborn overhang of unwanted crude, the options market shows. The price of Brent crude has hit $52 a barrel…
