Commodity Pricing

Source: Reuters

Urals u-turn as Europe shuns expensive Russian oil

Reuters


MOSCOW/LONDON  – The rapidly rising price of Russia’s flagship Urals blend oil has forced European refineries to cut purchases from Moscow and look for crude supplies elsewhere, traders said on Friday.

Urals, a blend of heavy sour oil from …

Source: Reuters

Oil prices erase gains in U.S. trade, set for weekly falls

Reuters


LONDON  – Oil prices dipped on Friday, erasing earlier gains, on concerns about rising new coronavirus cases in the United States and China and expectations of U.S. output ticking up while crude stockpiles linger at record highs.

Brent crude …

360 Digital Closing Bell 6-25-2020

360 Digital Closing Bell 6-25-2020

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 and Oxy trying to raise 3M and the Dallas Fed Production

Source: Reuters

Fuel demand accelerates but new virus wave may slam on the brakes

Reuters


LONDON/NEW YORK – Fuel demand is gradually recovering as coronavirus lockdown measures ease around the globe but a second wave of infections could swiftly undermine the trend, industry data showed.

Road traffic in some of the world’s major cities …

Source: CNBC

Oil turns positive, shrugging off U.S. crude stock build

CNBC


Oil prices reversed course and turned positive on Thursday, despite a record high U.S. crude inventories and worries that a rapid resurgence in Covid-19 cases could choke a revival in fuel demand.

U.S. West Texas Intermediate (WTI) crude futures …

360 Digital Closing Bell 6-24-2020

360 Digital Closing Bell 6-24-2020

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 and the article from the blood bath on the market today! 

Source: Forbes

How Russian and Saudi oil ties to China complicate the post-pandemic world

Forbes


Russia and Saudi Arabia both rely on oil sales to fund a majority of their budgets. In the last five plus years, China has become the biggest customer for both countries. In fact, China is the world’s largest importer

Source: Reuters

U.S. mining lobby in push to preserve tax break repealed by Democrats

Reuters


WASHINGTON – The U.S. mining industry is spearheading a lobbying effort to protect a $160 billion pandemic tax break after congressional Democrats largely repealed the provisions in their recent stimulus bill, according to emails and a letter seen by …

June 24, 2020 - 12:00 pm Closing Bell Story‎, Commodity Pricing
Source: Reuters

With contracts canceled and debts mounting, offshore oil drillers face another shakeout

Reuters


DENVER/OSLO – The companies that operate offshore drilling rigs for major oil producers face a second wave of bankruptcies in four years amid a historic drop in energy prices that likely will leave surviving drillers more closely tied to …

Source: Reuters

Oil falls on rising stocks, worries of new virus wave

Reuters


LONDON  – Oil prices fell on Wednesday, as record high inventories and worries about a second wave of the coronavirus pandemic outweighed support from a gradual reopening of global economies.

Brent crude was down 66 cents, or 1.5%, to …

360 Digital Closing Bell 6-23-2020

360 Digital Closing Bell 6-23-2020

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 and the article from anonymous sources that trash the oil business. 

Source: Reuters

Oil up after Trump assurance on China trade deal

Reuters


LONDON  – Oil prices rose on Tuesday in a volatile session after U.S. President Donald Trump soothed jangled nerves over the status of the U.S.-China trade deal.

Markets were unsettled by surprise comments from White House trade adviser Peter …

360 Digital Closing Bell 6-22-2020

360 Digital Closing Bell 6-22-2020

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 and the article about the Deloitte shale industry: Shale industry will

Source: Reuters

Oil falls on fears over rising virus cases worldwide

Reuters


LONDON – Oil prices fell on Monday as concern grew that a record rise in global coronavirus infections could stall recovery in fuel demand, outweighing tighter supplies from major producers.

Brent crude LCOc1 was down 24 cents, or 0.6%, …

Source: CNBC

Shale industry will be rocked by $300 billion in losses and a wave of bankruptcies, Deloitte says

CNBC


The U.S. shale industry is about to enter a period of “great compression” as low oil prices hammer the sector, according to a Deloitte study released Monday.

The firm believes that exploration and production companies could  write down …

Source: Nasdaq

Column: Funds realise profits, anticipate pullback after oil rally

Reuters


LONDON – Hedge funds started to realise some profits and anticipate a pull back in crude prices, especially in the United States, after a strong rally saw prices double in less than two months.

Hedge funds and other money …

Source: Reuters

Column: Oil prices no longer especially cheap after strong rally – Kemp

Reuters


LONDON  – Oil prices are no longer particularly cheap by historical standards.

Perceptions about prices tend to be over-influenced by recent experience so current prices feel very low to producers used to receiving $60-80 per barrel over the 2018/19 …

Source: Reuters

U.S. slaps sanctions on Mexican firms, individuals linked to Venezuelan oil trade

Reuters


WASHINGTON/MEXICO CITY  – The United States on Thursday blacklisted Mexico’s Libre Abordo and a related company, accusing them of helping Caracas evade U.S. sanctions in the first formal action by the U.S. Treasury Department against Mexican firms involved in …

Source: Reuters

Oil tops $42 as OPEC+ laggards pledge better compliance

Reuters


LONDON – Brent oil rose to above $42 a barrel on Friday, adding to gains in the previous session, after OPEC producers and allies promised to meet supply cuts and on signs of demand, hit by the coronavirus crisis, …

360 Digital Closing Bell 6-18-2020

360 Digital Closing Bell 6-18-2020

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

Extremely flat day in the market  - Oil at $38.84

International News Desk:  Schlumberger

Source: Reuters

UBS raises Brent forecasts, sees undersupplied oil market

Reuters


UBS raised its forecasts on Thursday for the price of Brent crude this year, citing expectations of an undersupplied oil market as demand starts to pick up on the back of a recovering global economy.

“Supply is being curbed …

Saudi Aramco to use cash and debt to uphold dividends pledge amid reports of job cuts

Saudi Aramco to use cash and debt to uphold dividends pledge amid reports of job cuts

CNBC


Saudi Aramco maintained its pledge to make good on its dividend payments, saying Thursday that it would mobilize cash and debt to fulfill the $18.75 billion payouts for the first quarter of this year despite taking a hit from …

Source: Reuters

Oil prices broadly stable after mixed U.S. data

Reuters


LONDON – Oil prices were broadly stable on Thursday after dipping in and out of positive territory as bulls took their cue from shrinking U.S. oil product stocks and bears looked at rising crude stocks and new coronavirus cases.…

Breakeven crude oil prices are one metric of the economic constraints facing OPEC+ members

Breakeven crude oil prices are one metric of the economic constraints facing OPEC+ members

EIA


Oil & Gas 360 Publishers Note: To help understand the OPEC + members, take a look at the breakeven crude oil prices. Breakeven is is the fiscal breakeven, the minimum price that a country needs to receive per barrel

360 Digital Closing Bell 6-17-2020

360 Digital Closing Bell 6-17-2020

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

Oil lowest day in the week at 37.68 at closing and almost flat on the

Source: Reuters

Column: Oil prices likely to average less than $60 over next cycle – Kemp

Reuters


LONDON  – Oil prices are likely to average less than $60 per barrel across the next cycle to ensure production, especially from the shale sector, remains in line with the slow increase in consumption.

On Monday, BP announced its …

Source: Reuters

OPEC sees gradual oil demand recovery, makes 84% of cuts in May

Reuters


LONDON – OPEC forecast on Wednesday a gradual recovery in global demand for oil, which has been hammered by the coronavirus crisis, and said record supply cuts by producers were already helping to rebalance the market.

In a monthly …

Source:Reuters

Oil falls on fears of more COVID-19 cases

Reuters


LONDON – Oil prices fell on Wednesday on fears about fresh outbreaks of COVID-19 but prices drew some support from stimulus measures and positive tests of a drug that could save some critically ill patients.

Brent crude LCOc1 was …

360 Digital Closing Bell 6-16-2020

360 Digital Closing Bell 6-16-2020

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

Bankruptcy is the topic of the year. - 

International News Desk:  Saudi Aramco completes SABC

Source: Reuters

How negative oil prices revealed the dangers of the futures market

CNBC


A historic drop occurred on April 20,  when the price of West Texas Intermediate crude dropped by almost 300%, trading at around negative $37 per barrel.

The price of oil has steadily recovered, jumping by nearly 90% in May