[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 →
[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 →
[Allen Sykora, Kitco News] There are doubts that the Federal Reserve will actually hike U.S. interest rates as much as policymakers think, leaving many analysts bullish on gold for 2018. They also cite potential for geopolitical flare-ups, improving physical demand in key buying nations India and China, and investment demand as a hedge against any […]Continue Reading →
[Bloomberg via Irish Examiner] Traders who have steadily boosted crude since the month began took a deep breath yesterday, with prices dropping on concerns of an overbought market and rising shale production. Earlier this week, the price of Brent for January settlement had raced above $64 a barrel as arrests of senior officials in Saudi […]Continue Reading →
[Emma Ockerman, Bloomberg] An early cold snap may deliver natural gas traders the most bullish inventory report heading into the winter heating season they’ve seen in more than a decade. On Thursday, the U.S. government will issue its weekly estimate of gas stockpiles. And based on a Bloomberg New Energy Finance analysis, the report may show a […]Continue Reading →
[Gillian Rich, Investor’s Business DAily via NASDAQ.com] Oil prices rose on Monday to their highest levels since mid-2015 amid political unrest in Saudi Arabia, but there is more than just palace intrigue boosting prices. Brent futures jumped 1% to $62.67 per barrel, and U.S. crude climbed 0.5% to $55.90. Among oil majors with holdings in […]Continue Reading →
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