Oil prices fall after EIA report on next month’s expected US shale output Oil prices fell in trading on Tuesday, then slid more in post-settlement after the American Petroleum Institute reported US crude stockpiles fell less than expected last week and gasoline inventories grew unseasonably. US WTI crude prices were down to $52.32/barrel in post-settlement […]
Oil prices fall, hit 11-day low on surging US shale output Read More »
Oil prices fall after three straight weeks of gains On Monday, oil prices fell slightly in trading after the Easter weekend following three consecutive weeks of gains. Strong economic growth in China and a weaker US dollar helped limit losses. According to a Reuters report, strong investment last month, retail sales and exports all point
Oil prices fall slightly in modest trading on Monday Read More »
Full-year 2016 production for San Juan Basin assets was 124,000 BOE per day ConocoPhillips announced it entered into an agreement to sell its interests in the San Juan Basin to an affiliate of Hilcorp Energy Company for up to $3.0 billion of total proceeds, comprised of $2.7 billion in cash and a contingent payment of up to $300
ConocoPhillips sells San Juan Basin assets in New Mexico for $3 billion Read More »
Oil prices “pushing up against technical resistance”: Analyst On Wednesday, oil prices looked like they were going to end their longest streak of gains in 2017, as traders weighed the Energy Information Administration report showing the first weekly decline in US crude supplies in a month against increasing US crude production. WTI crude futures were down 29 cents
Oil prices slip despite Cushing supply drop Read More »
Oil prices fell early in the day on expectations of US crude stocks increase Oil prices rebounded after falling in trading earlier on Tuesday after Saudi Arabia said it would favor extending the OPEC supply cut deal for another six months. Oil futures have been supported by OPEC production cuts, but also capped by rising US
Oil prices rise after Saudi Arabia says it wants output cuts extended Read More »
Oil prices also supported by OPEC supply deal compliance Oil prices closed in the $56/barrel mark on Monday after protesters shut down a Libyan pipeline over the weekend and geopolitical tensions heightened after last week’s missile strike on Syria by the United States. On Sunday, a group blocked a pipeline linking the Sharara oilfield to
Oil prices creep closer to $56 on Libyan pipeline blockade, Syria Read More »
Oil prices rise on concerns Middle East conflict could spread Oil prices rose in trading on Friday to near one-month highs after the United States fired missiles at a Syrian government air base. Global markets reacted on concerns about increasing conflict in the Middle East. The Trump administration’s decision to attack the air base is the
Oil prices near one-month high following US missile strike in Syria Read More »
$55USD/b for 2018 needed to “organically fund” significant tight-oil production growth Those hoping that recent oil-price weakness will prompt US producers to pull back drilling activity and ease the glut of oil supply may need to keep waiting. Wood Mackenzie’s latest analysis of oil and gas hedging activity shows a recent surge in oil hedges. “Recent
Surge in oil hedging could worsen US supply glut Read More »
All the directors of Savanna, with the exception of Allen Brooks, resigned Savanna Energy Services Corp. and Total Energy Services Inc. announced the current board of directors of Savanna have all resigned save one, according to a press release. Chris Strong also announced he has resigned as president and CEO of Savanna. The new Savanna board will
Savanna Energy board of directors resigns amid Total takeover Read More »
Oil prices up over 1 per cent Oil prices rose over 1 per cent in trading on Thursday, despite analysts’ concerns about the record-high US crude inventories. Brent crude futures were up 61 cents to $54.97/barrel by 2:21 p.m. EDT. US WTI crude futures were also up, rising by 66 cents/barrel to $51.81. These gains put crude back on
Oil prices rise despite record-high US crude inventories Read More »
