[Daniel J. Graeber, UPI] State regulators approve of the route for the pipeline that was once an oil-industry scapegoat, but ordered TransCanada to avoid a sensitive ecological area in the state. A decision spanning two U.S. presidential terms came to a head Monday when regulators in Nebraska cleared a remaining hurdle for the Keystone XL oil pipeline. […]Continue Reading →
[David Gaffen, Reuters] Oil prices slipped on Monday, extending recent weakness ahead of an OPEC meeting next week, while a rally in the dollar negatively affected commodities across the board. Brent crude futures LCOc1 were down 84 cents at $61.86, or 1.4 percent, by 11:37 a.m. EST (1637 GMT), while U.S. West Texas Intermediate (WTI) […]Continue Reading →
[Myra P. Saefong, MarketWatch] The International Swaps and Derivatives Association ruled Thursday that Venezuela, as well as state oil company Petróleos de Venezuela SA, defaulted on their debts. ISDA’s determination committee will reconvene on Nov. 20 to make a decision on how credit-default swaps, which can be used to protect against nonpayment, will be settled, according […]Continue Reading →
[Zlati Meyer, USA TODAY] With Americans feeling better about their finances, they will hit the road in near-record numbers over the Thanksgiving weekend despite higher gasoline prices, experts predict. An estimated 50.9 million Americans will travel 50 miles or more to get to their destinations over the four-day weekend, the most since 2005, according to AAA’s annual […]Continue Reading →
[Rob Curran, Fox Business] Shares of energy producers fell alongside oil futures after a surprise buildup in U.S. oil supplies. Crude-oil stockpiles rose by 1.9 million barrels to 459 million barrels and are still in the upper half of the average range for this time of year, the EIA said, contrary to analysts’ predictions of […]Continue Reading →
[Carl Surran, Seeking Alpha] U.S. crude oil fell for the fourth straight session after the EIA reported a surprise rise in crude and gasoline inventories, but a rise in refining runs and a drawdown in distillates helped prices bounce off session lows; WTI settled -0.7% at a two-week low $55.33/bbl, while Brent finished -0.6% at $61.87/bbl. “Overall, the report is somewhat supportive because […]Continue Reading →
[Myra P. Saefong & Mark DeCambre, MarketWatch] Saudi Arabia reportedly asks nationals to leave Lebanon immediately. Oil prices climbed back toward two-year highs on Thursday, as a report that Saudi Arabia has urged its nationals to leave Lebanon immediately implied worsening tensions in the Middle East, increasing the risk to global crude supplies. On the […]Continue Reading →
[Jeremiah Shelor, NaturalGasIntel.com] Natural gas futures settled higher Wednesday, but some choppy action showed a skeptical market weighing expectations of a slim storage figure against a potential pullback following a late-week cold snap in the northern states that’s expected to come and go. Meanwhile, that cold snap, with lows in the 20s expected Thursday and […]Continue Reading →
[George Orwell, DTN Energy Reporter] New York Mercantile Exchange spot-month oil futures settled mixed Wednesday afternoon, with West Texas Intermediate crude falling for the second straight session and pulling down ULSD futures with it after headline figures by the Energy Information Administration showed a surprise crude oil stock build and another surge in domestic crude […]Continue Reading →
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