North Sea Brent

Crude oil inventories up, energy stocks tumble

Benchmark U.S. crude oil dropped $1.95 to $41.17/b, Brent fell $1.96 to $46.88/b Shares of the world’s biggest oil companies are tumbling to multi-year lows on new data showing that U.S. crude oil inventories continue to rise at a time of year when they are typically in decline. Commercial inventories increased by 2.6 million barrels last week, according an Energy Information Administration report Wednesday, jolting energy […]

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EIA crude oil prices forecast plunges due to market ‘uncertainty’

EIA is forecasting lower and upper limits of $27/b and $103/b for crude oil prices in December 2016 The uncertainty roiling global oil markets has caused the Energy Information Administration to lower its crude oil prices prediction to $49/b in 2015 and $54/b in 2016. The revised Short-Term Energy Outlook for West Texas Intermediate (WTI) lowers the EIA’s

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