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.
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.
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.
OPEC faces a moment of truth about planned output increases: Kemp
Saudi Arabia and its OPEC allies will have to make a difficult decision in the coming weeks. They must decide whether they want to proceed with production increases planned for October or postpone them due an uncertain economic outlook.
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…
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…
Dangote Refinery: Nigeria must enforce crude oil supply to local refiners
The Dangote Oil Refinery called on Nigeria's regulator of upstream oil to enforce a law which stipulates that producers supply local refineries. It said that the lack of enforcement increased its operating costs.
Kemp: Oil traders focus on economy, not dwindling stock.
The oil prices have fallen in recent weeks, as traders focus their attention on a potential slowdown of the major economies. At the end of the month of June, the Organization for Economic Cooperation and Development's (OECD) advanced economies had 2…
Kemp: Oil traders focus on the economy, not dwindling stock
The oil prices fell in recent weeks, as traders looked past the depletion of global inventories and focused on a future threat that could be posed by the possible slowdown of major economies.At the end of the month of June…
Finance: Investors Become Super-Bullish on Oil
Portfolio investors have piled into petroleum futures and options at the fastest rate since the first successful coronavirus vaccines were announced in late 2020.China’s exit from a zero-COVID strategy…
Mercuria Teams Up with Envysion for Project Investment
Trading house Mercuria and Singapore-based asset manager Envysion Wealth Management have agreed to co-invest in mining and energy projects, as default-hit banks tighten their purse strings and leave commodities firms seeking other funding.The deal…
Gunvor Returns to Profit in 2019
Energy trader Gunvor Group returned to profit in 2019 after its first net loss a year earlier, helped by record earnings in its U.S. division, and said business so far in 2020 remained strong.The Geneva-based firm…
Is an Oil Market Recovery Underway? Energy Trader Mercuria Sees Positive Signs
Global oil markets are showing early signs of re-balancing after production cuts by OPEC and the United States, with the market's pricing structure indicating that storing oil on idle tankers may soon no longer be profitable…
Oil Traders Chase Storage Space in World Awash with Fuel
Oil traders are struggling to find enough ships, railcars, caverns and pipelines to store fuel as more conventional storage facilities fill up amid abundant supply and plummeting demand due to the coronavirus…
Oil Traders Vie for Guyana Marketing Deal Despite Price Tumble
Guyana has attracted interest from several oil trading companies for a contract to serve as the marketing agent for the government's share of the country's crude, despite a plunge in global prices, four…
Oil Storage at Sea Approaching Record Levels
Oil traders are storing as much as 80 million barrels of oil on tankers at sea, with further ships being sought as land storage sites fill up fast due to a global glut of stocks, shipping industry sources…
Oil Economics: Freight Rate Surge Cuts into Trader's Profits
A jump in freight rates has shaved profits for oil traders seeking to store crude for sale towards the end of the year, even as the contango in the first six months for Brent futures stretched to its widest ever…
Saudi Arabia's Tanker Power Play Could Backfire
Top exporter Saudi Arabia has chartered an armada of ships to flood the market with additional oil, but in the process has driven freight costs so high refiners are reluctant to take the shipments.That…
Japan's Oil Refiners Keep Running Even as Coronavirus Curbs Fuel Sales
Sales of petroleum products are slumping in Japan as the coronavirus outbreak worsens in the world's fourth-biggest importer of crude, but the country's biggest refiners say they are not planning to cut production.Oil product sales…
Coronavirus Spurs Oil Majors to Cancel IP Week Events
The list of parties at London's International Petroleum Week, one of the world's biggest oil industry gatherings, continues to shrink as hosts such as ExxonMobil and Azerbaijan's SOCAR cancel events due to the coronavirus, trading sources said.
