George Orwell, DTN Energy Reporter. Oil futures traded on the New York Mercantile Exchange and Brent crude on the Intercontinental Exchange moved lower early in Friday’s regular session, with the Brent and ULSD contracts sliding to 2-1/2 month lows on their spot continuation charts, as concern over too much supply weighs on values. “Oil prices […]Continue Reading →
Timothy Puko, The Wall Street Journal. The EIA said natural-gas stockpiles grew by 34 billion cubic feet last week Natural gas prices flipped to gains after government data showed a smaller-than-expected surplus of gas headed into storage last week. The U.S. Energy Information Administration said natural-gas stockpiles grew by 34 billion cubic feet last week, […]Continue Reading →
Nicole Friedman and Kevin Baxter, The Wall Street Journal. Oil prices wavered between gains and losses Tuesday as traders weighed signs of a growing glut of refined fuels against continued declines in U.S. crude production. U.S. crude for August delivery recently fell 20 cents, or 0.4%, to $45.04 a barrel on the New York Mercantile […]Continue Reading →
George Orwel, DTN Energy Reporter. New York Mercantile Exchange oil futures settled lower this afternoon, pressured by a strong dollar and fresh worries supply could be running ahead of demand. “This [selloff] is an inverse reaction to the failed coup in Turkey,” said analyst Phil Flynn at Price Futures Group. Others agreed. “Petroleum prices are […]Continue Reading →
Mark Shenk, Bloomberg. Crude fell to a two-month low as a strengthening dollar reduced investor appetite and the rising U.S. oil rig count signaled the output decline may slow. Futures dropped 1.4 percent in New York. Rigs targeting oil in the U.S. rose by 10 to 351 last week, Baker Hughes Inc. said on its […]Continue Reading →
Myra P. Saefong, MarketWatch. Oil futures lost more ground on Monday after a survey revealed that crude production from members of the Organization of the Petroleum Exporting Countries has climbed to a nearly eight-year high. The report exacerbates concerns that global output is set to climb even as recent supply disruptions ease. OPEC’s June crude […]Continue Reading →
NICOLE FRIEDMAN, The Wall Street Journal. Crude inventories declined less than expected in latest week Crude-oil prices turned negative Thursday after U.S. data showed a smaller-than-expected decline in crude inventories last week. U.S. oil for August delivery recently fell 94 cents, or 2%, to $46.49 a barrel on the New York Mercantile Exchange. Brent, the […]Continue Reading →
Mark Shenk, Bloomberg via WorldOil.com. Oil swung between gains and losses after falling to a one-week low as investors fled to haven assets on concern the UK’s vote to leave the European Union (EU) will hinder global growth. Futures dropped as much as 1.5% in New York before inching higher. Gold surged to a two-year […]Continue Reading →
Christine Buurma, Bloomberg. A blistering start to summer is helping put U.S. natural gas futures on course for the biggest gain in eight years. Gas has surged 16 percent this year, rebounding from a 17-year low. Drillers, burned by earlier declines, are refilling storage at half last year’s pace as extreme heat boosts the use […]Continue Reading →
Nicole Friedman, Dow Jones Business News via Nasdaq.com. Oil prices fell Tuesday as U.K.’s vote to exit the European Union continued to roil global markets and traders worried about an uptick in U.S. drilling activity. U.S. crude for August delivery recently fell $1.70, or 3.5%, to $47.29 a barrel on the New York Mercantile Exchange. […]Continue Reading →
Paul Ploumis, ScrapMonster via Kitco News. Central-bank expectations, U.S. nonfarm payrolls, Brexit and technical-chart momentum will be factors on the collective radars of traders next week as they decide whether to push gold still higher. In early-afternoon trading Friday, the Comex August gold futures were headed for their fifth straight higher weekly close, continuing to […]Continue Reading →
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