Post Tagged with: "Crude Oil Prices"

Caught in Tariff War, Sinopec Seeks Waiver for Imported U.S. Oil: Sources

Caught in Tariff War, Sinopec Seeks Waiver for Imported U.S. Oil: Sources

From Reuters


China Petroleum & Chemical Corp, or Sinopec, is seeking a tariff exemption for U.S. oil being imported in coming months, sources familiar with the matter said, after Beijing late last week imposed retaliatory tariffs on U.S. goods, including …

Oil Falls 1% as U.S.-Iran Optimism Faces U.S.-China Trade Deal Hopes

Oil Falls 1% as U.S.-Iran Optimism Faces U.S.-China Trade Deal Hopes

From Reuters


Oil prices fell 1% on Monday on the outlook for increased supply of Iranian crude after France’s president lifted hopes for a deal between Washington and Tehran, but losses were limited by optimism surrounding a U.S.-China trade deal.…

Oil Spills Into U.S.-China Trade War, Prices Slump

Oil Spills Into U.S.-China Trade War, Prices Slump

From Reuters


China on Friday said it would impose tariffs on U.S. crude oil imports for the first time, sending prices down nearly 4% to two-week lows as the escalating bilateral trade war fed worries over a slowdown in global …

Trump Calls on U.S. Firms to Exit China as Trade War Escalates

Trump Calls on U.S. Firms to Exit China as Trade War Escalates

From Reuters


President Donald Trump on Friday pressured U.S. companies to leave China after Beijing unveiled retaliatory tariffs on $75 billion in U.S. goods, stoking fears their escalating trade war will tip the global economy into recession.

Trump, who has …

Trade War Impasse Casts a ‘Dark Cloud’ Over Outlook for US Oil Shipments, Analysts Warn

Trade War Impasse Casts a ‘Dark Cloud’ Over Outlook for US Oil Shipments, Analysts Warn

From CNBC


An escalating trade war between the world’s two largest economies is negatively impacting the outlook for U.S. crude shipments, energy analysts have warned, amid fears that China could soon dramatically reduce its intake of American oil.

Trade tensions …

Source: Lonestar Resources

Energy Bankruptcies Back on the Rise in 2019

From The Houston Chronicle


After a recovery from the last oil bust, energy bankruptcies are back on the rise in 2019.

The number of oil and gas bankruptcy filings through mid-August has nearly equaled the total tally from 2018, and …

Oil Soars Near 5% as U.S. Delays Tariffs on Some Chinese Goods

Oil Soars Near 5% as U.S. Delays Tariffs on Some Chinese Goods

From Reuters


Oil prices on Tuesday jumped by the most so far this year after the United States said it would delay imposing a 10% tariff on certain Chinese products, easing concerns over a global trade war that has pummeled …

Oil Steadies as Saudi, Kuwait Signals Offset Demand Fears

Oil Steadies as Saudi, Kuwait Signals Offset Demand Fears

From Reuters


Oil prices were little changed on Monday as expectations that major producers would continue to reduce global supplies ran into worries about sluggish growth in crude demand due to the U.S.-China trade war.

International benchmark Brent crude settled …

Oil Rises on European Stock Draw Despite Demand Slowdown Forecast

Oil Rises on European Stock Draw Despite Demand Slowdown Forecast

From Reuters


Oil prices rose more than $1 a barrel on Friday, supported by a drop in European inventories and OPEC output cuts despite the International Energy Agency reporting demand growth at its lowest since the financial crisis of 2008.…

OPEC keeps curbs - Saudi Arabia Minister of Energy Khalid Al-Falih - Oil & Gas 360

Saudis to Limit Oil Exports in September to Stabilize Market

From The Houston Chronicle


Saudi Arabia plans to keep oil exports below 7 million barrels a day next month as OPEC’s biggest producer allocates less crude than customers demand in a bid to stabilize the market, according to the kingdom’s …

Brazil’s Petrobras Sells Off $320 Million Hedge Position as Crude Falls

Brazil’s Petrobras Sells Off $320 Million Hedge Position as Crude Falls

From Reuters


Brazil’s Petroleo Brasileiro SA sold its entire oil hedge position amid a sharp fall in crude prices, the company said in a filing on Wednesday night, saying it has eliminated uncertainties regarding its cash flow thanks in part …

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

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January 7, 2015 - 6:10 pm Oil and Gas 360 Articles