Commodity Pricing

Source: Reuters

Oil prices at five-month high on big drop in U.S. crude stocks

Reuters


LONDON – Oil prices rose to their highest since early March on Wednesday on a drop in U.S. crude inventories and the weak dollar, but mounting coronavirus infections weighed on the demand outlook.

Brent crude was up $1.50, or …

360 Digital Closing Bell 8-4-2020

360 Digital Closing Bell 8-4-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 8 min summary of the energy markets. There are big names presenting at The Oil & Gas Conference., check it out for

Source: CNBC

Oil prices fall as rising coronavirus case numbers cast shadow over fuel demand pickup

CNBC


Oil prices slid on Tuesday amid concerns that a nascent recovery in fuel demand could stall as a fresh wave of COVID-19 infections around the world sparks tighter lockdowns just as major producers ramp up output.

U.S. West Texas

August 4, 2020 - 11:00 am Commodity Pricing, Crude Oil News, Energy News
Source: CNBC

BP reports second-quarter loss after major write downs, halves dividend

CNBC


Energy giant BP reported a significant loss for the second quarter on Tuesday, after downgrading the value of some of its assets on expectations of lower commodity prices.

Second-quarter underlying replacement cost profit, used as a proxy for net

360 Digital Closing Bell 8-3-2020

360 Digital Closing Bell 8-3-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 8 min summary of the energy markets. There are big names presenting at The Oil & Gas Conference., check it out for

Source: CNBC

OPEC+ is facing a ‘very delicate, fragile balancing act’ in the oil market, strategist says

CNBC


OPEC  and its allies need to find a balance between supporting oil prices and keeping U.S. crude production at bay, a strategist told CNBC this week as the oil-producing group starts to roll back supply cuts.

The alliance’s historic …

Source: CNBC

Oil steady as virus fears counter positive factory data

CNBC


Oil prices steadied on Monday, pressured by rising COVID-19 cases around the globe and by oversupply worries as OPEC and its allies are set to wind back output cuts in August, but supported by positive industry data in Europe …

FILE PHOTO: A well head and drilling rig in the Yarakta oilfield, owned by Irkutsk Oil Company (INK), in the Irkutsk region, Russia, March 11, 2019. REUTERS/Vasily Fedosenko/File Photo

Russia says July oil output in line with OPEC+ deal

Reuters


MOSCOW (Reuters) – Russia’s Energy Ministry said on Sunday that the country’s oil output in July was unchanged from levels seen in June, in line with an OPEC+ agreement.

The ministry added that its level of compliance with the …

August 2, 2020 - 12:59 pm Commodity Pricing, Crude Oil News, International
360 Digital Closing Bell 7-31-2020

360 Digital Closing Bell 7-31-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 8 min summary of the energy markets. There are big names presenting at The Oil & Gas Conference., check it out for

Source: Reuters

Chevron posts $8.3 billion second-quarter loss on write downs, job cuts

Reuters


HOUSTON  – Chevron Corp (CVX.N) on Friday reported an $8.3 billion loss in the second quarter on asset writedowns from plummeting fuel prices, a forced exit from Venezuela and expenses tied to thousands of jobs cuts.

Multibillion-dollar …

Source: CNBC

Oil prices bounce back from 3-week lows, but economic headwinds loom

CNBC


Oil prices rose on Friday, recovering further ground after touching three-week lows in the previous session, hit by a record decline in U.S. growth as the coronavirus ravaged the world’s biggest economy and oil consumer.

Brent crude was up …

360 Digital Closing Bell 7-30-2020

360 Digital Closing Bell 7-30-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 8 min summary of the energy markets. There are big names presenting at The Oil & Gas Conference., check it out for

Source: Forbes

Chapter 11 Bankruptcy statistics on U.S. shale patch are not the best barometer to gauge industry’s future

Forbes


The oil and gas industry’s most recent cyclical downturn, triggered by the Covid-19 global pandemic in March, has yet again invited close scrutiny of the U.S. shale industry. At one point, prior to the turn of events, shale was …

Source: Reuters

ConocoPhillips posts worse loss than feared on oil price plunge, shares fall

Reuters


ConocoPhillips reported a wider-than-expected loss on Thursday, as coronavirus-induced lockdowns sapped demand for fuel and crushed crude prices, sending shares of the world’s largest independent oil and gas producer down nearly 9%.

The pandemic brought travel and other businesses …

Source: Reuters

Headache for OPEC as oil market structure signals return of glut

Reuters


SINGAPORE/LONDON  – Rising OPEC and U.S. oil supply, coupled with stalled economic and crude demand recovery, have pushed the futures market structure back to indicating a surplus, last observed during oil’s collapse in April and May amid the coronavirus …

360 Digital Closing Bell 7-29-2020

360 Digital Closing Bell 7-29-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 8 min summary of the energy markets. There are big names presenting at The Oil & Gas Conference., check it out for

Source: Reuters

Hess posts smaller-than-expected loss on higher output, lower costs

Reuters


U.S. oil and gas producer Hess Corp reported a smaller-than-expected quarterly loss on Wednesday, as higher output and lower costs helped offset a plunge in oil prices due to the coronavirus crisis, sending its shares 3% higher.

Crude prices …

Source: Reuters

Record U.S. LNG output jump lifts exports in weak market

Reuters


LONDON/NEW YORK – A sharp increase in U.S. liquefied natural gas (LNG) output in the past year has protected the country’s status as the world’s third largest exporter of the chilled fuel, despite multiple cargo cancellations this summer.

Over …

Source: CNBC

Oil rises after surprise drop in U.S. inventories offsets demand concerns

CNBC


Oil prices rose on Wednesday after an industry report showed that crude inventories in the United States fell against expectations, giving the market a boost amid record increases of coronavirus infections in the U.S. and elsewhere.

Brent crude futures

360 Digital Closing Bell 7-28-2020

360 Digital Closing Bell 7-28-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 8 min summary of the energy markets. We have a special guest: Aaron Fandeford, President, EnerCom, and we talk about the big names

360 Digital Closing Bell 7-27-2020

360 Digital Closing Bell 7-27-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 8 min summary of the energy markets.

 

Michael covers the highlights for the day and talking about the deep impact on the

The 360 Digital Closing Bell Look Ahead–7-27-2020

The 360 Digital Closing Bell Look Ahead–7-27-2020

Another Week Ahead in Energy from the duo at Oil and Gas 360!! 

 

Another Monday, Another 360 Digital Closing Bell Podcast, brought to you by www.oilandgas360.com. Another Monday, Another 360 Digital Closing Bell! Michael Tanner and Stuart Turley cover

Source: Reuters

Gold eyes $2,000 mark in speedy record-breaking run

Reuters


LONDON/BENGALURU- Gold’s record rally is moving tantalisingly close to the psychologically key $2,000 level, powered by investors seeking cover from COVID-19’s global economic toll, as reflected in dollar weakness, faltering stocks and U.S.-China trade tensions.

Spot gold prices XAU= …

July 27, 2020 - 12:00 pm Closing Bell Story‎, Commodity Pricing
Source: Fox Business

Trump to visit oil-rich Permian Basin to visit rig, talk energy

Fox Business


President Trump is expected to visit the Permian Basin in West Texas Wednesday and make a stop at the Double Eagle Energy in Midland, the White House announced.

During his visit, the president will tour an oil

Source: Reuters

Oil up on weak dollar though U.S.-China tensions, virus weigh

Reuters


SINGAPORE/LONDON  – Oil prices edged higher on Monday helped by a weak dollar and expected U.S. stimulus measures but gains were capped by rising global coronavirus cases and tensions between the United States and China.

Brent crude LCOc1 rose …

360 Digital Closing Bell 7-24-2020

360 Digital Closing Bell 7-24-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 8 min summary of the energy markets.

 

Michael covers the highlights for the day and talking about the deep impact on the

Source: Reuters

Equinor beats earnings forecasts as refinery and trading shines

Reuters


OSLO – Equinor on Friday reported a drop in second-quarter operating profit but a strong performance from its refinery and trading business helped to counter a coronavirus-led slump in oil and gas prices allowing the group to beat forecasts.…

Source: Reuters

Schlumberger eyes deeper cost cuts as oil rout triggers $3.7 billion charge

Reuters


Oilfield services giant Schlumberger NV (SLB.N) on Friday outlined plans for deeper spending cuts after recording a $3.7 billion charge and a second straight quarterly loss on thousands of job cuts and a pipeline outage in Ecuador.…

Source: Reuters

Oil prices edges up on weak dollar, U.S.-China tensions weigh

Reuters


LONDON – Oil prices edged higher on Friday, supported by a weaker dollar, though tensions between the United States and China and wider economic uncertainty weighed.

Brent crude was up 10 cents at $43.41 a barrel at 1323 GMT, …

Source: Forbes

Barclays sees near-tem oil price correction if demand recovery slows

Reuters


Barclays Commodities Research said on Thursday oil prices could see a correction in the near-term if a recovery in fuel demand slows further, especially in the United States.

While a recent rally has been supported by faster-than-expected rebalancing of …