Energy Financial

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 →
Oil prices up on strong US jobs data, but on track for small weekly decline

Oil prices up on strong US jobs data, but on track for small weekly decline

Oil prices pressured by rising OPEC exports, US production On Friday, oil prices rose on a strong US jobs report that boosted hopes that demand for energy was growing.  However, crude prices were on track for a small weekly decline as rising OPEC exports and US production pressured prices. According to the US Labor Department, […]

By August 4, 2017 0 Comments Read More →
Chesapeake Energy Q2 revenue up, but company cutting rig count in 2017

Chesapeake Energy Q2 revenue up, but company cutting rig count in 2017

Chesapeake Energy to cut rig count by four by year’s end In its second quarter results, Chesapeake Energy Corp showed the US natural gas producer beat quarterly profit estimates, but the company says it plans to cut its rig count and bring fewer wells into production this year. Chesapeake operates in a number of US […]

By August 3, 2017 0 Comments Read More →
Alberta brief Aug 3: 7 Generations, CNRL continue strong performance in low price environment

Alberta brief Aug 3: 7 Generations, CNRL continue strong performance in low price environment

Also in brief: CNRL delivers strong 2nd quarter results, Kinder Morgan Canada launches $200 million bought deal preferred share offering Seven Generations Energy Ltd.continued its strong financial and operating performance in second quarter of 2017, generating funds from operations of $268.1 million, or 73 cents per share, up 36 and 11 per cent compared to […]

Oil prices dip on oversupply concerns

Oil prices dip on oversupply concerns

Oil prices up despite rising OPEC supplies Oil prices fell in trading on Thursday after reports detailed increased production from some OPEC members and despite signs of a tightening market in the United States. Brent crude settled down by 35 cents to $52.01/barrel and US light crude ended the day down by 56 cents to […]

By August 3, 2017 0 Comments Read More →
Oil prices rise on record gasoline demand, BP pegs oil at $45 to $55 in 2018

Oil prices rise on record gasoline demand, BP pegs oil at $45 to $55 in 2018

Oil prices up as refiners run at high rate, BP expects 2018 oil prices to range from $45 to $55- basically no change Oil prices rose in seesaw trading on Wednesday on soaring demand for refined product and despite disappointing crude stocks data from the US Energy Information Administration. Brent crude futures were up 42 […]

By August 2, 2017 0 Comments Read More →
2017 a pivotal year for BP: New projects, Deepwater Horizon penalties taper off

2017 a pivotal year for BP: New projects, Deepwater Horizon penalties taper off

BP looking at developing shale prospects in Argentina In an interview with Reuters, BP Chief Executive Bob Dudley said 2017 is a pivotal year for the global oil major as it starts up a number of new projects in what the company calls a “new oil price environment.” Also in 2017, payments for penalties and […]

By August 1, 2017 0 Comments Read More →
Oil prices fall 2 per cent on oversupply concerns

Oil prices fall 2 per cent on oversupply concerns

Oil prices down despite expected drop in US crude stocks Oil prices fell on Tuesday over one percent as investors grew concerned about the stubborn global crude glut despite an anticipated drop in US crude inventories. Brent crude settled the day down 94 cents to $51.78/barrel and US crude was down $1.01 to $49.16/barrel. According […]

By August 1, 2017 0 Comments Read More →