Author Archive: AEN Staff
Column: Hedge funds gamble OPEC will tighten oil market too much
Record net long position accumulated by hedge funds, other money managers By John Kemp LONDON, Jan 2 – Hedge funds are the most bullish about oil prices in years, expecting further gains even as prices touch multi-year highs and ignoring the risk linked to such a large concentration of positions. A record net long position […]
Oil prices climb to near 2015 highs early in session, but retreat on pipeline restarts
Brent and US WTI oil prices started the year over $60/barrel Oil prices that hit mid-2015 highs early in trading on Tuesday later slipped on restarts of major crude pipelines in the UK and Libya and rising US production. For the first time since January 2014, both Brent and US WTI opened the year over […]
Chinese, Australian ports jammed as demand for coal, iron ore soar
Chinese coal demand up 10 per cent in 2017 Rising demand in China for coal and iron ore have caused bottlenecks in China’s commodity supply chain. Placed end-to-end, there are enough cargo ships waiting outside Chinese and Australian ports to stretch more than 40 miles. Outside some Australian ports, some vessels are waiting to load […]
Column: What are the transformative technology trends in your industry?
Experts reveal what they see as transformative trends at BP summit in London This article ran in BP Magazine on December 13, 2017 Some futuristic technologies seem inconceivable today, but the same may have been said for a smartphone device 30 years ago. So, what are the trends that may be game-changing across different industries […]
125 Tesla Semi trucks reserved by UPS, largest order ever
Tesla Semi trucks to cost about $200,000 each Reuters reports United Parcel Service Inc announced on Tuesday that it will buy 125 Tesla Semi trucks as the delivery company expands its fleet of alternative-fuel vehicles. The all electric big rigs will cost around $200,000 each, bringing the total UPS purchase to about $25 million. The […]
Oil prices up as Forties pipeline shutdown continues
Oil prices up, but rising US production tempers gains Oil prices rose as the shutdown of the UK’s Forties pipeline and OPEC-led supply cuts continued. As well, data to be released later on Tuesday and early Wednesday is expected to show US crude stocks declined for the fifth straight week. By 1:31 p.m. EST, Benchmark […]
Canadian oil producers scramble as pipelines, railroads hit capacity
Canadian oil producers struggle to get crude to market Canadian oil producers are in a bind as they scramble to get their crude to market. Pipelines and rail lines are almost at full capacity while prices have been driven to four-year lows. Companies are now concerned that they will have to sell their oil at […]
Oil prices seesaw on rising US output and UK pipeline outage
Oil prices dip in Monday trading Oil prices were mixed Monday as the Nigerian oil workers’ strike and uncertainty over when the Forties pipeline will re-open were tempered by rising US crude output. By 1:17 p.m. EST, Brent was down 2 cents to $62.63/barrel and US WTI had fallen 34 cents to $56.99/barrel. The Canadian […]
US shale investment pouring in despite concerns on returns
US shale producers in prime fields have little trouble accessing cash Investors and financiers are throwing money into US shale production companies which will likely mean US output will continue to rise through the middle of the coming decade, according to a report by Reuters. The money is pouring into the shale producers, despite pressure […]
Rising US output keeps a lid on oil prices gains
Oil prices mixed with Brent down slightly, WTI up Oil prices were mixed on Friday and sat below two-year highs as rising US output overshadowed the outage of a North Sea crude pipeline and the OPEC supply cut deal. By 1:00 p.m. EST, Brent crude futures were down 4 cents to $63.27/barrel and US WTI […]
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