Canada’s Suncor trims spending
Canadian energy company Suncor, after a success hostile takeover of a rival, reported a fourth quarter net loss of almost $1.5 billion. The company reported an operating loss of $18.9 Continue Reading
House scoffs at Obama’s proposed $10 oil fee
Republican leaders in the U.S. House said a White House proposal to impose a $10-per-barrel tax on U.S. oil stands no chance of gaining legislative traction. President Barack Obama proposed Continue Reading
U.S. oil drillers deepen cuts in seventh week of declines: Baker Hughes
U.S. energy firms deepened their cuts in oil drilling rigs in the seventh week of declines to the lowest levels since March 2010, data showed on Friday, as they continue Continue Reading
After rapid growth, U.S. energy MLPs running out of road
Investment vehicles that funneled more than $100 billion into U.S. pipelines, storage and other facilities during the shale boom now face an existential crisis after oil tumbled so low that Continue Reading
World economy seems trapped in ‘death spiral’
The global economy seems trapped in a “death spiral” that could lead to further weakness in oil prices, recession and a serious equity bear market, Citi strategists have warned. Some Continue Reading
Oil prices steady, weak fundamentals weigh after volatile week
Crude oil futures steadied on Friday after earlier losses, as bearish fundamentals weighed on markets at the end of a volatile week that saw prices seesaw over 10 percent within Continue Reading
Oil Prices Fall on Oversupply Concerns
Oil prices fell Thursday on expectations that Saudi Arabia, the largest producer in the Organization of the Petroleum Exporting Countries, is unlikely to change its strategy of pumping at full Continue Reading
Natural Gas Prices Slip on Inventory Data
NEW YORK–Natural gas prices settled below $2 on Thursday for the first time since December after weekly inventory data showed a smaller-than-average withdrawal from storage. Futures for March delivery settled Continue Reading
Wednesday’s Market Mayhem Shows How Four Huge Asset Classes Are Intertwined
Wednesday was “a complete and utter mess” in markets, according to Bespoke Investment Group. What were some of the wild moves? Oil rallied on what at first blush would seem Continue Reading
As energy rout deepens, CME, ICE reap benefit from record volumes
As the long rout on world energy markets intensified in volatile trade in recent months, exchange operators have reaped benefits. The two largest commodity exchanges, CME Group Inc and IntercontinentalExchange, Continue Reading