Myra P. Saefong, MarketWatch. One day major oil producers support a production cap, and the next day they don’t. Members of the Organization of the Petroleum Exporting Countries and Russia will meet on the sidelines of the International Energy Forum in Algeria on Sept. 28 and it could end just like the summit in Doha […]Continue Reading →
Investor’s Business Daily via Nasdaq.com. In the oil business, not all shale plays are created equal. The Permian Basin has seen production rates fall less than in other basins in the U.S. during the current downturn thanks to its exceptional geology. Diamondback Energy (FANG), an exploration and production company, is dominating prime acreage in the […]Continue Reading →
Myra P. Saefong, MarketWatch. The U.S. Energy Information Administration will make a change to its petroleum-supply report next month that could see weekly data on crude-oil stockpiles shift downward by roughly 31 million barrels. On Oct. 13, the Weekly Petroleum Status Report, or WPSR, will “no longer include crude oil lease stocks in the U.S. […]Continue Reading →
Myra P. Saefong & Jenny Hsu, MarketWach. Oil futures turned higher Wednesday, then dropped back toward a two-week low after U.S. government data showed an unexpected weekly decline in crude stockpiles, along with a climb in production. Prices had fallen sharply a day earlier after a report from the International Energy Agency suggested that the […]Continue Reading →
By ALISON SIDER, The Wall Street Journal. Natural gas prices wavered between gains and losses Tuesday, but ultimately fell slightly. Natural gas for October delivery fell 0.6 cents, or 0.21%, to $2.909 a million British thermal units on the New York Mercantile Exchange. Market participants have been weighing competing factors. Smaller than expected injections into […]Continue Reading →
Amanda Schiavo, TheStreet (9-12-16) Crude oil (WTI) and Brent crude prices closed in the green on Monday afternoon, up less than 1%, due to a soft dollar and strong U.S. equity markets. The price of the commodity rebounded from today’s earlier declines. Another factor impacting oil today was the monthly statement from the Organization of Petroleum […]Continue Reading →
Mark Shenk, Bloomberg. Oil advanced as industry data showed a big decline in U.S. crude inventories last week, trimming stockpiles that are at the highest seasonal level in at least 30 years. Futures rose as much as 2.4 percent in New York. Crude supplies fell by 12.1 million barrels, the American Petroleum Institute was said […]Continue Reading →
Rita Nazareth, Dani Burger & Joseph Ciolli – Bloomberg. The long-awaited American jobs report did nothing to break the tedium of U.S. markets. While equities advanced across the board, the S&P 500 Index remained squarely within the same 1.5 percent band it has now occupied for 37 straight days. That’s the tightest since 1964 for […]Continue Reading →
Natalie Walters, The Street. Oil prices fell nearly 4% on Wednesday after a rise in crude inventories weighed them down, reported Fox Business’ Phil Flynn. Oil prices retreated nearly 4% today after the Energy Information Administration (EIA) reported higher than expected crude inventories, reported Fox Business’ Phil Flynn on “After the Bell” Wednesday afternoon. Earlier […]Continue Reading →
Jonathan Crawford | Bloomberg. U.S. natural gas futures climbed to a two-month high as unseasonably hot weather boosted demand from power plants and a tropical storm in the Gulf of Mexico curtailed gas production. Above-average warmth is expected across much of the central and eastern U.S. Sept. 5 through Sept. 9, according to the Weather […]Continue Reading →
ALISON SIDER and NEANDA SALVATERRA | The Wall Street Journal. U.S. stockpiles of crude oil and refined products rose 4.5 million barrels in the week ended Aug. 26. Oil prices fell Wednesday after weekly inventory data showed that U.S. stockpiles of crude oil increased to a record high. U.S. stockpiles of crude oil and refined products […]Continue Reading →
The Detroit News.
Low oil and natural gas prices are proving to be a short-term ally for environmentalists and consumers but a job killer for the industry as new drilling slows in Michigan. The state is on pace to issue its fewest number of drilling permits in almost 90 years, while the amount of […]
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