(Investing) – Brent crude prices are anticipated to hover in the $60 per barrel to $70 per barrel range in the near term, as traders weigh the trajectory for Russian oil exports over the coming months, according to analysts at UBS. In a note, the analysts including Giovanni Staunovo predicted that Brent crude would end the year at $62/bbl and retained
(Oil Price) – Over the past decade, scores of Big Oil companies have set up separate trading divisions that frequently rake in billions in profits that help pad their bottom lines whenever oil and gas prices fall. In fact, the oil majors typically handle more barrels than leading commodity traders such as Vitol, Trafigura, Glencore and Mercuria, according to Bloomberg. These
Oil Price Heavy trading in Dubai oil has lifted its premium to WTI crude to its highest since late March, a development that could make U.S. crude even more competitive in Asia. More traders have turned to Dubai after Persian Gulf producers such as Saudi Arabia hiked prices and shipping rates also climbed. Bloomberg has reported that Dubai swaps were trading
Oil Price Emissions Trading Systems (ETS) raised a record $63 billion for governments last year, as the energy crisis pushed policymakers to double down on decarbonization efforts, intergovernmental forum International Carbon Action Partnership (ICAP) said in a new report on Wednesday. ETSs generally set the total amount of greenhouse gases that can be emitted by operators or sectors. The cap is gradually
CNBC Call it an S&P bright spot. Energy was the only S&P 500 sector to end last week in the green, capping off a wild five trading days in the space. The Energy Select Sector SPDR Fund (XLE) was down less than 1 percent Monday even though oil prices fell sharply amid worries about a bankruptcy filing on Sunday by rig operator Diamond Offshore Drilling and
By Tyler Losier, Energy Reporter, Oil & Gas 360 Magellan Midstream prices $500 million of its 3.950% senior notes due 2050 Magellan Midstream Partners LP (stock ticker: MMP), based out of Tulsa, Oklahoma, has priced $500 million of its 3.950% senior notes due 2050 at 99.910% of par to yield 3.955% to maturity. Proceeds from the offering, after deducting underwriting
By Tyler Losier, Energy Reporter, Oil & Gas 360 Saltstone Capital Management calls for special committee of the board to review strategic alternatives Billy Bailey, founder and portfolio manager for Saltstone Capital Management LLC, penned a scathing letter to Abraxas Petroleum’s (stock ticker: AXAS) board of directors this week, calling for the creation of a special committee to explore strategic
From CNBC Crude oil prices could sink by as much as $30 a barrel if China decides to buy Iranian crude oil in retaliation to the latest U.S. tariff measures, according to Bank of America Merrill Lynch. “While we retain our $60 a barrel Brent forecast for next year, we admit that a Chinese decision to reinitiate Iran crude purchases
From Reuters Exxon Mobil Corp (XOM.N) is pushing deeper into energy trading, building a global cadre of experienced traders and beefing up risk-management systems to lift profit, according to executive recruiters and people familiar with the business. The development is a sea change for a company that has stood out from rivals by limiting its past activity out of concern
