Energy Financial

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 →
Alberta energy brief: Pengrowth sells $827 million of asset of assets to reduce debt

Alberta energy brief: Pengrowth sells $827 million of asset of assets to reduce debt

Pengrowth re-focuses on 100%-owned core areas, Birchcliffe reduces debt in order to fund capex   Pengrowth closes significant asset sales Pengrowth Energy Corp.’s Q2 2017 financial report highlights asset sales, as well as reductions to outstanding debt and cost structures, the company announced in a press release. Since the start of 2017, Pengrowth closed $827 […]

By August 16, 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 →
Calgary-based oil rig maker TESCO Corp. sold to USA competitor Nabors Industries

Calgary-based oil rig maker TESCO Corp. sold to USA competitor Nabors Industries

Transaction values TESCO common stock at $4.62 per share Tesco Corporation announced it entered an agreement Nabors Industries Ltd. to combine with Nabors in a stock-for-stock transaction, according to a press release. TESCO shareholders will be issued 0.68 common shares of Nabors for each outstanding share of common stock of TESCO. TESCO shareholders will own approximately 10 per cent of the outstanding shares […]

By August 15, 2017 0 Comments Read More →
Oil prices drop on strong US dollar, weak China data

Oil prices drop on strong US dollar, weak China data

Oil prices down 2 per cent Monday Oil prices fell by 2 per cent on Monday in volatile trading as the US dollar rose and China posted weak domestic demand data. Earlier in the day, oil prices rose slightly on concerns over possible reductions in Libya’s crude supply after the country’s National Oil Corporation (NOC) […]

By August 14, 2017 0 Comments Read More →
Oil prices fall after Trump North Korea threats, IEA report says OPEC compliance weak

Oil prices fall after Trump North Korea threats, IEA report says OPEC compliance weak

Oil prices impacted by Trump sabre-rattling Oil prices fell in trading on Friday after the International Energy Agency said weak compliance among participants in the OPEC supply cut pact was slowing the rebalancing of the oil market. Brent crude fell to $51.68/barrel by 12:20 p.m. EDT and US WTI was down 21 cents to $48.38/barrel. Oil […]

By August 11, 2017 0 Comments Read More →
Oil prices fall as Russia looks to boost output post OPEC pact

Oil prices fall as Russia looks to boost output post OPEC pact

Oil prices down nearly 7 per cent this year On Thursday, oil prices fell after investors learned Russia’s Gazprom was considering resuming its output in mature fields after the OPEC supply cut agreement expires and OPEC reported an increase in its July production numbers. Brent crude ended the day down at $51.90, down 80 cents […]

By August 10, 2017 0 Comments Read More →
Prices up on US crude stock data, American oil production forecast lowered

Prices up on US crude stock data, American oil production forecast lowered

Oil prices up after two days of declines Oil prices crept higher on Wednesday after data from the US Energy Information Administration showed American refineries processed record amounts of crude last week, causing a drop in US crude stocks. Brent crude was up 27 cents to $52.41 at 12:34 p.m. EDT and US WTI was […]

By August 9, 2017 0 Comments Read More →
Oil prices dip, market struggles to get through $50

Oil prices dip, market struggles to get through $50

Fundamental justification for stalled oil prices: Analyst Oil prices dropped slightly in trading on Tuesday as exports from some OPEC producers increased in recent week and have slowed the reduction in the global glut of crude. Brent crude settled down 23 cents to $52.14/barrel by 1:17 p.m. EDT and US light crude was 22 cents […]

By August 8, 2017 0 Comments Read More →
Oil prices fall on rebound in Libya’s Sharara field production

Oil prices fall on rebound in Libya’s Sharara field production

Oil prices dip in seesaw trading Oil prices fell as much as 2 per cent in seesaw trading on Monday on increased production from Libya’s Sharara oil field and concerns about higher US and OPEC output. After dropping as low as $51.37/barrel, Brent crude futures were at $52.16/barrel by 2:05 p.m. EDT and US crude […]

By August 7, 2017 0 Comments Read More →