Author Archive: AEN Staff

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Oil prices drop, decline shuts down late last week’s rally

Oil prices drop, decline shuts down late last week’s rally

Oil prices down almost 2 per cent Oil prices fell nearly 2 per cent on Monday, bringing to a halt last week’s rally that saw crude rise over 3 per cent on Friday. Brent crude fell $1.40 to $51.32/barrel by 2:10 p.m EDT and US WTI dropped by $1.41 to $47.10/barrel. Han van Clef, senior […]

By August 21, 2017 0 Comments Read More →
Oil sands demand up and supply set to rise in coming months

Oil sands demand up and supply set to rise in coming months

Oil sands producers grapple with lack of pipeline capacity as production rises The second quarter of 2017 saw oil sands producers Cenovus and MEG Energy boost their gains on higher prices for Western Canadian Select crude, but these gains are not expected to last. According to Reuters, most oil sands companies are expected to book […]

By August 21, 2017 0 Comments Read More →
Oil prices up on stronger stock market, weaker US dollar

Oil prices up on stronger stock market, weaker US dollar

Oil prices up over 3 per cent Oil prices rose over 3 per cent in trading Friday on Wall Street gains and a decline in the US dollar, despite investors concerns about the global crude glut. By 1:23 p.m. EDT, Brent crude was at $52.61/barrel, up $1.58 and US WTI rose by $1.34 to $48.43/barrel. […]

By August 18, 2017 0 Comments Read More →
Hyundai races to catch up with Tesla in long-range EV market

Hyundai races to catch up with Tesla in long-range EV market

Hyundai putting EVs at centre of production strategy Hyundai Motor Co said on Thursday that it would make electric vehicles the centre of its product strategy and is looking to develop a long-distance EV that would compete with Tesla and others. In the past, Hyundai and Toyota had focussed developing fuel cell technology, but has […]

By August 18, 2017 0 Comments Read More →
Oil prices fall despite drop in US crude stocks

Oil prices fall despite drop in US crude stocks

Largest draw in crude stocks in nearly a year Oil prices fell in seesaw trading on Wednesday, despite a larger-than-expected drop in US crude stocks reported by the US Energy Information Administration. Brent crude was down by 13 cents to $50.67/barrel by 1:14 p.m. EDT after trading as high as $51.40 earlier in the day […]

By August 16, 2017 0 Comments Read More →
Merkel reaffirms pledge to speed up German transition to EVs

Merkel reaffirms pledge to speed up German transition to EVs

Merkel vows target of 1 million EVs will be met On Wednesday, German Chancellor Angela Merkel vowed to speed up her country’s transition to electric vehicles, adding increased efforts would be needed to meet the target of 1 million EVs on German roads by 2020. Her comments came during an online interview with four social […]

By August 16, 2017 0 Comments Read More →
Column: Goodbye contango? Oil’s long march towards backwardation

Column: Goodbye contango? Oil’s long march towards backwardation

Prompt discounts for Brent and WTI have been narrowing since January 2016 By John Kemp LONDON, Aug 16 (Reuters) – “The rebalancing of the oil market desired by the leading producers has been a stubborn process,” the International Energy Agency wrote in its latest monthly oil market report. The agency’s evident frustration about the slow and uneven […]

By August 16, 2017 0 Comments Read More →
Gulf refiners prepare for possible sanctions against Venezuela, look to Canada for crude

Gulf refiners prepare for possible sanctions against Venezuela, look to Canada for crude

Gulf refiners see Venezuelan supplies dwindle According to Bloomberg, Gulf refiners are looking to Canada as they prepare for possible Trump administration sanctions against Venezuela which could mean heavy crude supplies from the beleaguered South American nation would be drastically cut to US customers. Canadian heavy crude from the Alberta oil sands is already a […]

By August 15, 2017 0 Comments Read More →
Petronas expects LNG market to remain oversupplied until 2023

Petronas expects LNG market to remain oversupplied until 2023

LNG market swamped by US, Australian production The chief executive of Malaysia’s state-owned energy company, Petronas, says he expects the global LNG market to remain oversupplied until as late as 2023. With increased supply from Australia and the United States, prices have fallen; Asian spot LNG prices are now down by about 70 per cent […]

By August 15, 2017 0 Comments Read More →
Oil prices fall as investors worry about oversupply, strong greenback, weak Asia demand

Oil prices fall as investors worry about oversupply, strong greenback, weak Asia demand

Oil prices pressured by high production, inventories On Tuesday, oil prices fell as investors already concerned about the global glut of crude struggled with a rising US dollar and weaker demand for petroleum in China. Brent crude was dow 13 cents to $50.60/barrel by 12:53 p.m. EDT and US WTI fell by 14 cents to […]

By August 15, 2017 0 Comments Read More →