(Investing) – LONDON – Oil prices extended declines on Wednesday and were set for their largest monthly drop in almost three and a half years as the global trade war eroded the outlook for fuel demand while concern over mounting supply also weighed. Brent crude futures were down 77 cents, or 1.2%, at $63.48 a barrel by 1305 GMT. U.S. West
(Reuters) – Top oilfield services provider SLB missed estimates for first-quarter profit on Friday, as weaker Latin American demand dragged on its international business, and the company warned of a potential industry-wide shift due to economic uncertainty, volatile oil prices and rising tariff risks. Shares of the company fell nearly 2% in premarket trading following results. SLB’s report rounds out
(Oil & Gas 360) – Expectations And Oil Prices Have Bottomed With Heading-UP-To-Summer And Much Needing To Be Done Increasing With The Tariff Strategy. The drop in the price of crude oil, from its Winter high to a Spring-Time low exaggerated by Tariff Fear has us conclude the drop has bottomed. Cold air tugged the price of West Texas Intermediate
(Investing) – LONDON – Oil prices fell more than 2% on Monday on signs of progress in talks between the U.S. and Iran while investors remained concerned about economic headwinds from tariffs which could curb demand for fuel. Brent crude futures slipped $1.54, or 2.3%, to $66.42 a barrel by 1230 GMT after closing up 3.2% on Thursday. U.S. West Texas Intermediate
(Oil Price) – Oil prices are sagging like a tired trampoline, and U.S. shale producers are feeling the bounce—just not in a good way. With WTI dancing around $60 and analysts wringing their hands over breakeven levels near $65, you’d be forgiven for assuming the shale patch was in full panic mode. But U.S. Energy Secretary Chris Wright—former CEO of Liberty
(Oil Price) – Last week’s price crash, which saw Brent Crude prices dip below $60 per barre, was an excessive market reaction to the U.S. tariffs, with speculators assuming there would be no growth in oil demand due to recession fears, Gunvor’s head of research Frederic Lasserre told Bloomberg. “I think the market overreacted,” Lasserre told Bloomberg in an interview, commenting on last week’s
(Oil Price) – Shale boss Bryan Sheffield, the son of Pioneer Natural Resources founder Scott Sheffield, appears to have called on America’s shale drillers to cut drilling immediately, as Brent crude flirts with prices below $60 and WTI falls to $57/barrel. Sheffield, who controls Formentera Partners LP, told Bloomberg he is planning to delay drilling in some cases, shift focus to existing short-term
(World Oil) – The plunge in oil prices over the past week was more severe than the market’s dynamics justify, and the drop may be short-lived, according to Canadian energy executives gathered in Toronto. Leaders of oil and gas producers as well as pipeline companies characterized the sudden decline — sparked by US President Donald Trump’s global tariffs and OPEC’s
(Investing) – Citi Research on Monday lowered its 0-3 month Brent price forecast to $60 per barrel and also reduced its 0-3 month copper and aluminium price forecasts to $8,000 per metric ton and $2,200 per ton, respectively due to the latest tariff announcements. Last week, U.S. president Donald Trump imposed a 10% baseline tariff on all imports to the U.S. and higher duties on
(Investing) – LONDON -Oil prices extended losses on Monday, falling around 2% as escalating trade tensions between the United States and China stoked fears of a recession that would reduce demand for oil, while OPEC+ readies a supply increase. Brent futures were down $1.17, or 1.78%, to $64.41 per barrel at 1303 GMT, and U.S. West Texas Intermediate crude futures were down
(Investing) – Oil prices have plummeted to their lowest levels in more than three years, as China retaliates against President Trump’s tariffs, intensifying the ongoing trade war and unsettling global markets. Brent Oil Futures dropped 7.6% to $64.86 a barrel at 14:05 GMT, while Crude Oil WTI Futures fell 8.4% to $61.34 a barrel. “We leave our forecasts unchanged until further clarity emerges, sticking with
(Investing) – Oil prices rose Monday on optimism new tariff announcements from U.S. President Donald Trump will not be as severe as first feared. At 08:55 ET (12:55 GMT), Brent Oil Futures expiring in May rose 0.4% to $71.86 per barrel, while West Texas Intermediate (WTI) crude futures gained 0.4% to $68.55 per barrel. Both benchmarks settled higher on Friday and recorded a second consecutive
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