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 […]
Oil prices fall 2 per cent on oversupply concerns Read More »
Tesla shares down 3.5 per cent Monday Tesla shares were down by 3.5 per cent on Monday after the company’s CEO Elon Musk warned that the EV maker is facing “manufacturing hell” as it begins to ramp up production of its $35,000 Model 3 sedan. The California-based automaker is counting on the Model 3 to
Tesla shares down after Musk’s ‘manufacturing hell’ warning Read More »
Oil prices steady as US production down, drilling slows On Monday, oil prices rose slightly as investors hopes were boosted on news of possible US sanctions against Venezuela as well as a meeting next week where some OPEC supply cut participants will meet to discuss improving compliance with the deal. Investors are also keeping a
Oil prices drop slightly, remain near two-month high Read More »
Also in this brief: Hedge funds’ active positioning in crude oil Oil prices steadied in trading on Thursday, remaining near eight-week highs on a higher-than-expected drop in US crude stocks last week and a commitment by Saudi Arabia and two other OPEC members to reduce their exports. According to Reuters, gasoline futures were the biggest percentage
Oil prices rise to eight-week high on US crude stock drop, Saudi export reduction Read More »
Shell gearing up for world of “lower forever” oil prices Royal Dutch Shell CEO Ben van Beurden says his company is gearing up for “lower forever” oil prices after his company tripled their profits in the second quarter. The large multi-national oil company increased its cash flow to $12.2 billion and reduced its debt by
Q2 markets brief: Shell profits soar, ConocoPhillips cuts capex Read More »
Oil prices up on 7.2 million barrel draw of US crude stocks Oil prices rose to near eight-week highs on Wednesday after data from the US Energy Information Administration showed a significant drop in US crude stocks, buoying hopes that the oversupplied crude market was showing signs of balancing. Brent crude futures ended the day
Oil prices rise to near 8-week high on big US crude stock draw Read More »
Oil prices up over 3 per cent Oil prices rose 3.3 per cent on Tuesday to the highest close in over a month one day after Anadarko reported it will cut capital spending plans and Saudi Arabia pledged to cut its exports to help tackle to global crude glut. Brent crude futures rose $1.60 to
Oil prices jump on possible US shale slowdown Read More »
Current market balance implies a global stock draw of 0.7 million b/d in Q2 2017 Oil investors are going through a period of waning confidence with prices recently returning to levels not seen since early Nov., according to the International Energy Agency. Brent prices have closed below $50/bbl each day since early June and few investors expect
Oil investor confidence wanes – IEA Read More »
Oil prices up after Saudis say they will cut exports by almost 1 million b/d in August Oil prices erased early losses on Monday after Saudi Arabia’s energy minister said the kingdom will reduce its exports by almost 1 million barrels per day (b/d) in August to help tackle the global crude glut. Khalid al-Falih
Oil prices up on Saudi pledge to cut exports, OPEC moves to cut Nigeria’s production Read More »
Oil prices down 2 per cent On Friday, oil prices dropped about 2 per cent after consultant Petro-Logisitcs forecast an increase in OPEC production this month, despite the cartel’s deal to curb output. Brent crude futures were down 92 cents to $48.38/barrel at 12:16 p.m. EDT and US WTI futures traded at $45.99/barrel, down 93
Oil prices news brief: Crude prices drop; Big Oil likely to double down on cost cuts Read More »
