|Day's range||63.46 - 64.16|
China is ramping up its oil drilling initiative in Cuban waters, using cutting-edge technology to reach deposits that Cubans couldn’t touch
In 2008 Wolf Regener was appointed CEO of BNK Petroleum Inc. (TSE:BKX). First, this article will compare CEO compensation with compensation at similar sized companies. After that, we will consider the growth in the busin...
What Helped Your Energy Portfolio Overcome Oil's Weakness?(Continued from Prior Part)US equity indexesIn the trailing week, US equity indexes had the following correlations with US crude oil active futures:the Dow Jones Industrial Average (DIA):
Overall, oil is being supported by the OPEC+ deal to cut production by 1.2 million barrels per day. U.S. sanctions against Venezuela and Iran also continue to tighten the commodity's fundamentals.
If you own shares in Abraxas Petroleum Corporation (NASDAQ:AXAS) then it's worth thinking about how it contributes to the volatility of your portfolio, overall. In finance, Beta is a measure of volatility. Modern finance theory con...
The supply cuts from the so-called OPEC+ nations, coupled with U.S. sanctions on Venezuela and Iran, have reduced the amount of medium- and heavy-grade sour crude on the market. While Russia is part of the output cuts effort, exports of its medium-sour Urals crude -- the country’s biggest export grade -- are set to soar this month to an almost two-year high. “The apparent lack of other alternative medium, sour grades is forcing Mediterranean and Northwest European buyers to rely increasingly on Urals,” consultants JBC Energy GmbH said in a report.
Saudi Arabian Oil Co. is doing its best to make nice with one of its biggest customers. With the ink barely dry on the takeover of 70 percent of the country’s chemical giant Saudi Basic Industries Corp. and the issuance of its first-ever corporate bond, Aramco is looking to buy a stake in the world’s biggest oil refinery. Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. is seeking to sell as much as a quarter of its refining business for at least $10 billion and is entertaining offers from Aramco and Abu Dhabi National Oil Co., people with knowledge of the matter told Bloomberg News this week.
Based on the early trade, the direction of the AUD/USD on Thursday is likely to be determined by trader reaction to the price cluster at .7154 to .7153.
The U.S. shale boom is upending global oil markets as far as crude flows from West Africa to Europe and other parts of the world, and is squeezing in particular Nigeria’s struggling oil industry
Environmental organizations are suing the Trump administration over the approval a coal-mining project near a national park in southern Utah. A coalition of groups including the National Parks Conservation Association filed the lawsuit Tuesday in federal court in Utah. The U.S. Department of the Interior declined to comment on the lawsuit.
In the first quarter, coordinated production curbs by the Organization of Petroleum Exporting Countries and its allies helped oil rally the most in almost a decade, restoring prices to over $70 a barrel. Saudi Arabia, the group’s most powerful member, has made clear that it’s determined to keep supplies tight. OPEC and its partners launched a new round of output cuts at the beginning of the year when it looked like booming U.S. shale-oil production and fragile global demand growth would lead to a supply surplus.
Russia has announced that the country is contemplating boosting oil production, as the fight for market share with the U.S. heats up
Scientists have just found a fascinating oil-eating bacteria in the Marina Trench, a discovery which could be key to cleaning up the ocean
The 2020 elections could well be a turning point for the U.S. oil and gas industry, with many democratic candidates threatening to ramp up regulations
Based on the current price at $63.85, the direction of the June WTI crude oil market into the close is likely to be determined by trader reaction to the short-term 50% level at $63.93.
The EUR/USD showcased a seesawed performance during the day. AUD/USD plunged in the Asian session after the announcement of RBA’s dovish monetary comments. The loonie pair fell off to 1.3350 levels over weaker reports and crude upliftment.
The S&P 500 tried to rally during the trading session on Tuesday, reaching towards the highs again, but then turned around to form a bit of a shooting star midday. At this point, we are in a massive uptrend but obviously it’s likely that we need to build up a bit of momentum.
Crude oil production from the seven key shale regions in the United States is expected to increase by 80,000 bpd from April to hit a record 8.46 million bpd in May
The United States nearly doubled its oil exports in 2018, the Energy Information Administration reporting on Monday, from 1.2 million barrels per day in 2017
Has Oil Lost Its Uptrend?(Continued from Prior Part)Futures spread On April 15, the US crude oil May 2019 futures closed ~$2 above the May 2020 futures. On April 8, the futures spread was at a premium of $3.5. On April 8–15, US crude oil May
Has Oil Lost Its Uptrend?US crude oil On April 15, US crude oil prices fell 0.8% and settled at $63.4 per barrel. Profit-booking and concerns about a possible extension of the OPEC and non-OPEC production cut into the second half of 2019 have
Has Oil Lost Its Uptrend?(Continued from Prior Part)Oil rig count Last week, the oil rig count rose by two to 833—just 17 more rigs than the lowest level since April 13, 2018. The rig count tends to follow US crude oil prices with a three to
Which Refiners Do Analysts Like before Q1 Earnings?(Continued from Prior Part)Marathon PetroleumMarathon Petroleum (MPC) occupies the top spot among the six US refiners. All of the 17 analysts covering Marathon Petroleum recommended a “buy”