Oil prices supported by North Sea outage Oil prices briefly fell slightly in trading on Wednesday after a report from the United States Energy Information Administration showed a surprise increase in US crude inventories. According to the EIA’s weekly report, US crude stocks rose by 1.6 million barrels. Analysts had been expecting a drop of 435,000 barrels. The […]
Oil prices ease after surprise US crude build reported Read More »
Oil prices rise to near one-month high Oil prices rose in trading on Tuesday to a near one-month high on reports of increased US demand and a drawdown of US crude inventories, which outweighed news of a recovery in Libyan crude production. Brent futures rose up $1.05 to end the day at $54.17/barrel. Reuters reports that increase pushed
Oil prices rise on falling US inventories Read More »
Saudi Aramco IPO could be worth $100 billion The CEO of the London Stock Exchange is accompanying British Prime Minister Theresa May on her trip to Saudi Arabia. Xavier Rolet is hoping to convince Saudi officials to list the Saudi Aramco IPO on the LSE. The London Stock Exchange joins a number of others hoping to
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Net hedge funds position in Brent, WTI cut to 642 million barrels By John Kemp LONDON, April 3 (Reuters) – Hedge funds have continued liquidating their large bullish position in crude amid doubts about the pace and timing of any rebalancing in the oil market. Hedge funds’ net position in Brent and WTI has been
Hedge funds square up most of their former record bullish position in oil Read More »
Oil prices helped by strong Asian demand In Monday trading, oil prices dropped by pennies as traders weighed the return of Libyan production against upbeat economic news from Asia that showed a strong economy could fuel a healthy demand for energy. Brent futures dropped by 41 cents, ending up at $53.12/barrel and US WTI
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Oil prices gained earlier in the week on optimism about OPEC deal extension After three days of gains, oil prices fell in trading on Friday as investors concerned about the oversupply of crude after an updated rig count data from Baker Hughes showed US production is continuing to grow, adding to the global crude glut. In Q1, prices were
Oil prices fall as three-day rally runs out of steam Read More »
Oil prices up after Kuwait endorsed OPEC deal extension Oil prices rose for a third straight day to their highest in three weeks after Kuwait said it would support extending the OPEC supply cut deal into the second half of 2017. Brent crude oil was up by 54 cents to $52.96/barrel by 1:33 p.m., after hitting $53.10
Oil prices hit three-week highs on OPEC deal extension optimism Read More »
Westinghouse Nuclear files for chapter 11 protection and secures $800 million in DIP financing to fund operations Westinghouse Electric Company, LLC – commonly known as Westinghouse Nuclear – filed voluntary petitions under Chapter 11 of the US Bankruptcy Code Wednesday, according to a company press release. The company is seeking to undertake a strategic restructuring
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Oil prices up 2 per cent Wednesday Oil prices rose in trading on Wednesday after reports showed US crude inventories rose less than expected, Libyan supply disruptions continued and the OPEC supply cut deal extension looked as if it would likely be extended. In the weekly report issued by the US Energy Information Administration on crude inventories, the
Oil prices and optimism boosted, US crude inventories up less than expected Read More »
Total Offer is scheduled to expire at 12:00 PM (Pacific time) on April 7, 2017 Total Energy Services Inc. says that on March 24, 2017 it acquired a majority of the outstanding common shares of Savanna Energy Services Corp., according to a company press release. The process for Total Energy to acquire additional common shares of
Total Energy acquires majority of Savanna shares in hostile takeover bid Read More »
