Energy Financial
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 […]
Upstream companies shift focus from survive to thrive in 2018 – Wood Mackenzie
Upstream sector puts price collapse behind it, primed to build for future Oil and gas companies are set to enter 2018 in their best shape since oil prices collapsed. In its 2018 Upstream Outlook, global natural resources consultancy Wood Mackenzie believes many will now focus on demonstrating they can thrive at low prices. “Now that the […]
Forties pipeline shutdown, drop in US crude stocks bump up oil prices
Oil prices up slightly on Thursday Oil prices rose slightly on Thursday due to the continued outage of the Forties pipeline, the network that moves about 450,000 barrels of crude per day from North Sea platforms to refineries in Scotland. By 1:25 p.m. EST, US WTI rose by 18 cents to $56.78/barrel and Brent crude […]
Oil prices dip on higher gasoline inventories, US output
Oil prices down despite significant decline in US crude stocks Oil prices fell on Wednesday despite data from the US Energy Information Administration showing a significant decline in US crude stocks. Prices dipped due to a larger-than-expected increase in US gasoline inventories and ballooning crude output from US producers. By 2:57 p.m. EST, US WTI […]
Oil prices dip after early session surge due to pipeline shutdown
Oil prices rise to two-year high before losing gains On Tuesday, oil prices surged to a two-year high after cracks found in the Forties pipeline shut down the United Kingdom’s largest North Sea crude pipeline, cutting into the supply of Brent crude. The 406,000 barrels per day (b/d) pipeline was shutdown on Monday, the first […]
Oil prices rise on North Sea pipeline shutdown, New York blast
Oil prices up as investors shift to hard-asset commodity markets following NY explosion Oil prices reversed early declines on Monday after reports of a shutdown at a North Sea pipeline and an explosion rocked the New York Port Authority Bus Terminal. By 1:32 p.m. EST, Brent had risen by $1.23 to $64.63/barrel and US WTI […]
Oil prices boosted by Chinese demand, but US rig count rises
Oil prices on track for weekly loss Oil prices rose by over 1 per cent on Friday on solid Chinese demand and threats of a strike by workers in the Nigerian oil industry. But, Reuters reports US oil prices were on track for weekly losses of up to 1.7 per cent on concerns that rising […]
Kinder Morgan Canada shares jump after TMX ruling
Kinder Morgan Canada shares up as much as 9.5 per cent Kinder Morgan Canada shares rose as much as 9.5 per cent on Friday one day after a ruling by the National Energy Board on the Trans Mountain Pipeline expansion project. On Thursday, the NEB said Kinder Morgan Canada could continue construction work on the […]
Oil prices up on Nigerian strike threat, short covering
Oil prices rebound after sharp losses on Wednesday Oil prices rose over one per cent on Thursday after Nigerian oil workers threatened to strike and as traders cover shorts after tough losses on Wednesday caused by larger-than-expected rises in US refined fuels stocks. By 1:37 a.m., EST, benchmark Brent had risen 94 cents to $63.16/barrel […]
Kinder Morgan shares drop as investors fret about permit delays for Trans Mountain Expansion
Kinder Morgan loses $75 million revenue for every month delay to Trans Mountain Expansion project Kinder Morgan Canada shares fell on Tuesday after the company reported its $7.4 billion Trans Mountain Expansion project could miss its expected September 2019 start date. Kinder Morgan released its Financial Expectations for 2018, which pushes back start of construction […]
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