Oil prices up slightly despite January restart of UK pipeline
Oil prices lifted by 6.5 million barrel drop in US crude stocks Oil prices rebounded from earlier losses Thursday despite reports from Ineos, the company that operates the Forties pipeline, that it expects to reopen the shuttered pipeline in early January. By 5:15 p.m. EST, Brent had risen by 17 cents to $64.28 and US […]
Oil prices boosted by Chinese demand, but US rig count rises
Oil prices on track for weekly loss Oil prices rose by over 1 per cent on Friday on solid Chinese demand and threats of a strike by workers in the Nigerian oil industry. But, Reuters reports US oil prices were on track for weekly losses of up to 1.7 per cent on concerns that rising […]
Kinder Morgan Canada shares jump after TMX ruling
Kinder Morgan Canada shares up as much as 9.5 per cent Kinder Morgan Canada shares rose as much as 9.5 per cent on Friday one day after a ruling by the National Energy Board on the Trans Mountain Pipeline expansion project. On Thursday, the NEB said Kinder Morgan Canada could continue construction work on the […]
Column: Crude oil rally stalls as fuel prices soften
Oil rally falters as as record refinery runs, distillate production catch up with demand By John Kemp LONDON, Dec 7 (Reuters) – Surging prices for refined products, especially distillate fuel oil, led crude prices higher between June and November, but now fuels are slipping and putting crude under pressure. Gross refining margins for producing distillate fuel […]
Oil prices up on Nigerian strike threat, short covering
Oil prices rebound after sharp losses on Wednesday Oil prices rose over one per cent on Thursday after Nigerian oil workers threatened to strike and as traders cover shorts after tough losses on Wednesday caused by larger-than-expected rises in US refined fuels stocks. By 1:37 a.m., EST, benchmark Brent had risen 94 cents to $63.16/barrel […]
Ford autonomous vehicle technology to be tested next year
Ford autonomous vehicle testing in at least one city Ford autonomous vehicle testing will begin next year in at least one city, but the automaker says it will not begin commercial production until 2021. Reuters reports Ford will test self-driving prototypes in a number of pilot programs with partners, including Domino’s Pizza and Lyft. Ford’s […]
Voluntary American oil/gas producer program to cut methane emissions ‘inadequate’ say critics
Environmentalists say methane emissions program not strong enough On Tuesday, the American Petroleum Institute launched its voluntary program designed to cut methane emissions from oil and gas operations, according to a Reuters report. Oil majors, including Shell, XTO Energy and Pioneer Natural Resources were among the 26 companies that signed on to the program where […]
Oil prices up on expected drop in US crude stocks
Oil prices up on strong demand Oil prices rose slightly on Tuesday on strong demand for crude, an expected drop in US crude stocks and the extension of OPEC’s supply cut agreement. By 1:41 p.m. EST, Benchmark Brent had risen 46 cents $62.91/barrel and US WTI was up 24 cents to $57.71/barrel. The Canadian Crude […]
Dakota Access Pipeline oil spill response plan ordered by US judge
Dakota Access plan to be created by April 2018 A federal judge has ordered the owners of the Dakota Access Pipeline to work alongside local Native American tribes and the Army Corps of Engineers to create an oil-spill response plan for the controversial pipeline by next April. US District Judge James Boasberg says his decision […]
Oil prices fall on rising US output, profit taking
Oil prices down over 1 per cent Monday Oil prices fell over 1 per cent on Monday on profit-taking and concerns over rising US crude production, but remained close to recent two-year highs after OPEC extended its supply cut agreement last week. By 1:49 p.m. EST, US WTI had fallen by 80 cents to $57.56 […]
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