Post Tagged with: "Crude Oil Prices"

Oil Rises More Than 2% on Firm Yuan, Expectations of More OPEC Cuts

Oil Rises More Than 2% on Firm Yuan, Expectations of More OPEC Cuts

From Reuters


Oil jumped more than 2% on Thursday on expectations that falling prices could lead to production cuts, coupled with a steadying of the yuan currency after a week of turmoil spurred by an escalation in U.S.-China trade tensions.…

Japan LNG Buyers Talk Tough as Spot Prices Drop to 3-Year Lows

Japan LNG Buyers Talk Tough as Spot Prices Drop to 3-Year Lows

From Reuters


An inexorable decline in spot market prices for liquefied natural gas (LNG) is pushing utilities in Japan to be more aggressive in price reviews built into traditional long-term contracts linked to oil prices, lawyers and analysts said.

The …

Brent Oil in Bear Market as China-U.S. Trade Tensions Mount

Brent Oil in Bear Market as China-U.S. Trade Tensions Mount

From Reuters


Oil prices fell more than 1% on Tuesday, with Brent crude settling near seven-month lows below $60 a barrel as trade tensions between the U.S. and China intensified worries about weakening global demand.

During the session, Brent traded …

Oil Slumps 7% as Trump Announces Additional Tariffs on Chinese Imports

Oil Slumps 7% as Trump Announces Additional Tariffs on Chinese Imports

From Reuters


Oil prices plummeted more than 7% on Thursday, with the U.S. benchmark posting its worst day in more than four years, after President Donald Trump said he would impose additional tariffs Chinese imports starting Sept. 1.

The drop …

Russia, Saudi Push for Hike in Oil Output Ahead of OPEC Meeting

Russia, Saudi Push for Hike in Oil Output Ahead of OPEC Meeting

From Reuters

Russia and Saudi Arabia are pushing OPEC and its allies to raise oil output steeply from July to meet growing demand and cover supply outages in Venezuela and Libya despite opposition from several members of the producer group …

Dallas Fed Report: With Brent Futures in Backwardation, Could Market See Near Term Oil Demand Outpacing Supply?

Dallas Fed Report: With Brent Futures in Backwardation, Could Market See Near Term Oil Demand Outpacing Supply?

The Federal Reserve Bank of Dallas released its monthly report of energy-related economics, based on the bank’s September data.

Dallas Fed: Backwardation for Brent

“The Brent futures curve went into backwardation (downward sloping) through year-end 2019 on Sept. 25, 2017, …

Surprise Crude Build Pressures Oil Prices

Surprise Crude Build Pressures Oil Prices

Oil prices dropped more than a dollar as soon as the DOE announced a surprise inventory build today.

That was the first weekly build in crude stockpiles in five weeks. Analysts were expecting U.S. crude inventories to fall by 2.5 …

Harold Hamm Standing Tall in Ongoing Oil Price Rout

Harold Hamm Standing Tall in Ongoing Oil Price Rout

Harold Hamm is the Chairman and Chief Executive Officer of Continental Resources (ticker: CLR), one of the largest exploration and production companies in North America.

He has also become the nominal leader of United States shale in the faceoff with …

January 13, 2016 - 6:50 pm Closing Bell Story‎, Oil and Gas 360 Articles
U.S. Oil Prices: Export Ban Lifts, See What Happens

U.S. Oil Prices: Export Ban Lifts, See What Happens

The Brent/WTI spread disappears

Last Friday, Dec. 18, the United States Senate adopted the Omnibus Appropriations Act by a vote of 65-33 as did the House of Representatives by a 316-113 vote. Later that day, President Obama then signed into …

Moody’s Calls for Oil Prices to “Eventually Rebound”

Moody’s Calls for Oil Prices to “Eventually Rebound”

Revises Price Assumptions Down in the Interim

A Moody’s Investors Service report out today has lowered pricing assumptions for Brent and WTI and examines how a sustained period of lower oil prices would affect certain industries in producing and non-producing …

Coming this Week: Ending the 40-Year Oil Export Ban and 9 Years of Zero Interest… Maybe

Coming this Week: Ending the 40-Year Oil Export Ban and 9 Years of Zero Interest… Maybe

Congress expected to vote to lift crude oil export ban; economists worry about low inflation

An end to the more than 40-year old crude oil export ban could soon be approaching. Members of Senate this week are expected to include …

Average Monthly WTI Price is the Lowest Since June 2004

Average Monthly WTI Price is the Lowest Since June 2004

“Production from the North Slope of Alaska and the North Sea of Europe, burgeoning oil regions 20 years ago, is in decline. Unrest in Venezuela and Nigeria threatens the flow of oil. The Middle East remains the mother lode of …

Oilservice Majors: Look for a Delayed Oil Price Recovery (But One IS Coming!)

Oilservice Majors: Look for a Delayed Oil Price Recovery (But One IS Coming!)

Forecast Pushed Back in 2016

Earnings season is underway, but you’d have a hard time believing we’re in the first week of quarterlies judging from a headline from Bloomberg this morning. It reads, “$6.5 Billion in Energy Writedowns and We’re

WTI Prices Up as DOE Reports Crude Draw

WTI Prices Up as DOE Reports Crude Draw

WTI closed higher for the first time in five sessions yesterday

The front month West Texas Intermediate contract is up $1.25 from yesterday’s close of $47.98 per barrel. The 2.3% increase in WTI front month contracts marked the first time …

WTI Oil Prices Suffer Largest Single-Day Drop Since February

Oil prices break the 100-day moving average

Both Brent crude and West Texas Intermediate (WTI) saw a sharp fall on July 6, 2015, resulting from a variety of negative factors. WTI closed at $52.71, a 7.5% drop, while Brent tumbled …

July 6, 2015 - 5:41 pm Commodity Pricing, Oil and Gas 360 Articles
WTI Dips to Six Year Low

WTI Dips to Six Year Low

The price of West Texas Intermediate (WTI) maintained weeks of stabilization before falling below $44/barrel on March 16, 2015 – the lowest since a price of $42.33 on March 11, 2009.

WTI exceeded $50/barrel earlier in the month as the …

March 16, 2015 - 5:46 pm Commodity Pricing, Oil and Gas 360 Articles
U.S. Shale will Drive 30% Oilservice Spending Rebound in 2017: BI

Wells Fargo Expects Oil Prices to drop in Near-Term, Supply/Demand to Balance by Q4’15

The dust is settling on the first phase of the global oil market share war. Oil has been hovering around $50/barrel for nearly a week – a long-awaited relief to the industry which was wondering, exactly, where is rock bottom? …

February 9, 2015 - 6:13 pm Analytics, Commodity Pricing, Finance, Oil and Gas 360 Articles
Magnum Hunter CEO Gary Evans Sets the Record Straight: “Rumors of Our Death Have Been Greatly Exaggerated”

Magnum Hunter CEO Gary Evans Sets the Record Straight: “Rumors of Our Death Have Been Greatly Exaggerated”

Magnum Hunter Jan. 23 Conference Call

Gary Evans drew on some famous American humor to lead off this morning’s conference call “to discuss macro events affecting the energy sector and company specifics.” Evans paraphrased the famous quip from North American …

Crude Oil Cuttings for the Week Ended January 2, 2015

Crude Oil Cuttings for the Week Ended January 2, 2015

crude_oil_cuttings

CRUDE OIL INVENTORY/’000 bbls (Week Ended 1/2/15)

Current: 382,393
Actual Build/(Withdrawal): (3,062)
Economist Average Estimate: 911
Previous: 385,455

Click here for the chart with five year averages.

Click here for an archive of EnerCom’s Inventory Reports.


ANALYST COMMENTARY

CIBC …

January 7, 2015 - 6:10 pm Oil and Gas 360 Articles
Oil Prices Continue to fall, but for how long?

Oil Prices Continue to fall, but for how long?

The oil and gas industry wasn’t given much of a respite following the unofficial ending to the holiday season. Oil prices continued their plunge on Monday, January 5, 2015, with West Texas Intermediate (WTI) and Brent prices closing at $49.78 …

Crude Oil Prices:  Brent Trades Below $65, WTI Trades Below $61

Crude Oil Prices: Brent Trades Below $65, WTI Trades Below $61

OPEC Cuts Demand Forecast

OPEC cut demand forecast for its crude oil to a 12-year low, sending oil prices, energy shares and the overall stock market into a dive on Wednesday. West Texas Intermediate (WTI) traded at a day low …

December 10, 2014 - 5:32 pm Commodity Pricing, Oil and Gas 360 Articles, OPEC
A rig site in North Dakota

Oil Prices Reach Five Year Low; ConocoPhillips Dials back 2015 Expenditures by 20%

Oil prices slid sharply in Monday trading, dropping by more than 4% to close at a five-year low of $63.02. Brent prices fell in similar fashion, ending the day below the $66.00 mark.

Spot prices for WTI have dropped by …

December 8, 2014 - 6:56 pm Commodity Pricing, Exploration and Production (E&P), OPEC
Oil Prices are Up

Oil Prices are Up

West Texas Intermediate and Brent crude prices are both up today with strong U.S. economic data and hopes of OPEC production cuts possibly coming on Thanksgiving day, but experts are divided on whether prices will continue to climb. WTI traded …

November 21, 2014 - 6:15 pm Oil and Gas 360 Articles, OPEC
Brent Price Slips Below $80 Two Weeks before OPEC Meeting, EIA Cuts Forecasts by 18%

Brent Price Slips Below $80 Two Weeks before OPEC Meeting, EIA Cuts Forecasts by 18%

On November 27, the nation’s attention will descend on the heart of Texas for another classic NFL Thanksgiving matchup between the Dallas Cowboys and Philadelphia Eagles. Cheap seats on StubHub are currently selling for $150 and up.

Also on Thanksgiving …

November 13, 2014 - 6:05 pm Commodity Pricing, Finance, Oil and Gas 360 Articles, OPEC
Crude Oil Inventories See Largest Draw since January 2014

Crude Oil Inventories See Largest Draw since January 2014

The Energy Information Administration reported a draw of 7.525 million barrels in crude oil inventories in its Weekly Petroleum Status Report for the period ended July 11, 2014. The drop is the largest since a January 11, 2014 draw of …

July 16, 2014 - 4:45 pm Offshore, Oil and Gas 360 Articles
Oil Prices Mostly Ignoring Iraq Invasion

Oil Prices Mostly Ignoring Iraq Invasion

Yesterday energy analysts warned of a significant global price jump for oil if Iraq’s southern oil fields are captured and shut down, but commodity prices appear to be disconnected this week from the potentially serious threat to Iraq’s oil production, …

June 18, 2014 - 5:03 pm Midstream, Oil and Gas 360 Articles

Important Data Points from OPEC’s October Monthly Oil Market Report

The Organization of the Petroleum Exporting Countries (OPEC) is putting forth bearish signals on the world’s economy. The 12-member organization lowered its forecast for growth in global oil demand this year and warned of a continued slowdown in 2013.

World

November 6, 2012 - 7:56 pm International, Oil and Gas 360 Articles, OPEC