Energy Financial

Oil prices jump on assumption of Saudi output restraint

Oil prices jump on assumption of Saudi output restraint

Oil prices will be supported by the Saudis, especially until Aramco IPO next year: Analysts After a 2 per cent drop on Friday, oil prices rose on Monday on expectations that Saudi Arabia will continue to support prices by cutting its production and after data released showed the number of  drilling rigs in the United […]

By October 10, 2017 0 Comments Read More →
Oil prices down almost 3 per cent on oversupply fears

Oil prices down almost 3 per cent on oversupply fears

Oil prices down after Putin clarifies oil market remarks Oil prices dropped about 3 per cent on Friday after investors cashed in on oil’s recent rally and remarks made by Russian President Vladimir Putin earlier in the week on extending the OPEC supply cut pact were clarified. Benchmark Brent was down $1.27 to $55.73/barrel by […]

By October 6, 2017 0 Comments Read More →
Oil prices up as new OPEC deal outweighs record US exports

Oil prices up as new OPEC deal outweighs record US exports

Oil prices halt 5 per cent drop over last week Oil prices jumped on Thursday on hints that Saudi Arabia and Russia would continue to limit production to the end 2018, offsetting record US crude exports and production resuming at Libya’s largest oilfield. Benchmark Brent rose $1.33 to $57.13/barrel by 12:28 p.m. EDT and US […]

By October 5, 2017 0 Comments Read More →
Oil prices steady after jump in US crude exports to 2 million b/d

Oil prices steady after jump in US crude exports to 2 million b/d

Increasing US production has reined in oil prices Despite data showing a strong draw in US crude stocks, oil prices dipped on Wednesday. Also impacting oil prices is data from the US Energy Information Administration showing a rise in US crude production and US oil exports. US WTI was down by 40 cents by 12:51 […]

By October 4, 2017 0 Comments Read More →
Oil prices mostly flat on profit taking after big Q3 gains

Oil prices mostly flat on profit taking after big Q3 gains

Oil prices rose earlier in the day on OPEC compliance news Oil prices dipped slightly on Tuesday as speculators cashed in on third quarter gains, but hopes that the global crude glut is being tackled lent some support. Brent crude fell 15 cents to $55.97/barrel by 2:29 p.m. EDT and US WTI was down 4 […]

By October 3, 2017 0 Comments Read More →
Osum closes royalty sale to fund oil sands expansion

Osum closes royalty sale to fund oil sands expansion

Expansion expected to add 1,500 barrels per day of production Osum Oil Sands Corp., a private oil sands company, announced it has approved the commencement of the Phase 2B expansion at its Orion Thermal Project, according to a press release. In conjunction with this, Osum, through its wholly-owned subsidiary, Osum Production Corp., sold a 4 […]

By October 3, 2017 0 Comments Read More →
Pembina Pipeline, Veresen merge becoming one of largest Canadian energy infrastructure firms

Pembina Pipeline, Veresen merge becoming one of largest Canadian energy infrastructure firms

All regulatory conditions have been satisfied prior to closing Pembina Pipeline Corporation announced a business combination with Veresen Inc. to create one of the largest energy infrastructure companies in Canada, according to a press release. “With increased size and scale, the combined companies create a platform in which we can pursue expanded growth opportunities while continuing to […]

By October 2, 2017 0 Comments Read More →
Oil prices down on supply increase concerns

Oil prices down on supply increase concerns

Oil prices down over $1/barrel US oil prices fell over $1/barrel on Monday on increased US drilling and higher OPEC output after a rally that helped boost prices to their highest third-quarter gain in  13 years. Benchmark Brent crude fell 74 cents to $56.05/barrel by 12:43 p.m. EDT and US WTI was down $1.19 to […]

By October 2, 2017 0 Comments Read More →
Oil prices mixed on profit taking following price rally

Oil prices mixed on profit taking following price rally

Oil prices on track for weekly gains Oil prices were mixed in trading on Friday, mostly due to profit taking in the wake of a price rally spurred by geopolitical instability in Iraqi Kurdistan. By 1:24 p.m. EDT, US WTI was up by 4 cents to $51.60/barrel, and is on track for its strongest third […]

By September 29, 2017 0 Comments Read More →
Oil prices stumble, retreat from earlier gains

Oil prices stumble, retreat from earlier gains

Oil prices “due for a pullback”: Analyst Oil prices fell slightly in trading on Thursday, dropping from earlier gains that were fuelled by concerns about the Kurdistan referendum where citizens voted overwhelmingly in favour of independence, raising the spectre of a supply outage. WTI crude was down 76 cents to $51.38/barrel by 12:43 p.m. EDT […]

By September 28, 2017 0 Comments Read More →