Currently viewing the tag: "Phil Flynn"

By Anna Louie Sussman | Reuters U.S. crude stocks fell more than expected last week even as refineries cut output, government data showed on Wednesday, but a build of 5 million barrels in combined inventories of gasoline and distillates raised questions about demand. Crude inventories fell 4 million barrels in the last week, data from [...]

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If the American Petroleum Institute is any indication refiners continue to refine oil into product at a record pace. Cheaper domestic and higher yielding oil are leading to high margins for refiners that keep them running at a historic pace. What is more that even with that record pace the draw on US inventories are [...]

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August crude is going off with a bang as violence in the Gaza strip and fears of Russian sanctions is coming ahead what some people fear will be a big drop in Cushing Oklahoma supply. Cushing Oklahoma of course is the delivery point for the West Texas Intermediate contract and we saw August crude go [...]

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By Moming Zhou | Bloomberg West Texas Intermediate crude rose to the highest in more than two weeks as strong refinery demand reduced U.S. inventories. Prices gained for a third time in four days. U.S. refineries operated at the highest rate in nine years in the week ended July 11, according to the Energy Information [...]

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Global markets are weak as the combination of increasing calls for tough sanctions on Russia and heavy fighting between Israel and the Palestinians is adding uncertainty to global economic outlook. The evidence is mounting of Russia’s involvement in the missile strike that brought down the Malaysia Airlines flight that killed 298 people. The anger level [...]

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Upstream | News Wires | 18 July 2014 01:43 GMT US crude oil jumped by more than $2 on Thursday after a Malaysian airliner was shot down over eastern Ukraine, dramatically escalating the crisis between Russia and the West. Just one day before, the US imposed tough sanctions against Moscow. Oil prices began rising early, [...]

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Barbaric. The Energy Report 7/18/14

On July 18, 2014 - 9:04 AM By

Oil is rising as geopolitical risk came back in the most horrendous way. The shooting down of an unarmed passenger plane with a surface to air missile could raise the tensions in Ukraine to a whole new level. All 298 souls aboard Malaysia Airlines Flight 17 were killed. Oil had the biggest increase in a month [...]

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The EU and US followed through and hit Russia with more sanctions in response to the trouble that they are causing in Ukraine. The sanctions on Russia may start to bite and are already impacting many stock and commodity markets across the board. Palladium was notable as it hit the highest level since 2001 after [...]

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China Bounce. The Energy Report 7/16/14

On July 16, 2014 - 8:56 AM By

Oil is rebounding on a drawdown in US supply and strong Chinese data upping what had been weakening demand expectations out of the world’s second largest economy. Not to mention the EU most likely putting new sanctions on Russia and no cease-fire in the Gaza strip. China’s GDP came in at a better than expected [...]

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NEW YORK, July 15 (Reuters) – Oil prices slumped by as much as $2 on Tuesday, deepening their biggest slide this year as rising Libyan supplies and downbeat economic data sharpened concerns the global market was heading into a near-term glut. World oil prices have rapidly erased a geopolitical risk premium that had been pushing [...]

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Libyan Oil. The Energy Report 7/15/14

On July 15, 2014 - 9:26 AM By

One of the reasons oil saw a historic sell off was the promise that Libya would soon be exporting oil. Can we count on Libyan oil? Oil prices reversed higher yesterday after a report that said that the UN was pulling its staff out of the country. Heavy fighting in Benghazi and Tripoli closed down [...]

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Peaked Oil. The Energy Report 7/14/14

On July 14, 2014 - 9:12 AM By

Oil prices continue lower as a flood of Libyan oil supply is expected to overwhelm any loss of supply. This comes after the International Energy Agency lowered its oil demand expectations last week. The IEA cut its 2014 demand forecast to 9n.7 million barrels per day a drop of 130,000 barrels a day. Yet geopolitical [...]

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