Energy Financial

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 […]

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

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

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

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

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

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

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