As market sours, LPG-carrying ships anchor off Singapore
Last year, liquefied petroleum gas (LPG) supplied to Asia was being snapped up by petrochemical makers. Now, after a flood of U.S. exports into the region, the market is awash Continue Reading
North Dakota rig count up 10 percent
The number of rigs actively exploring for or producing oil and natural gas in North Dakota is up 10 percent from last week, state data show. State data shows 32 Continue Reading
Crude Slump, Pipeline Expansion Mark End of U.S. Oil-Train Boom
Even at its height in 2014, crude-by-rail accounted for less than 2% of total rail… The oil-train boom is waning almost as quickly as it began. Rail became a major Continue Reading
Russian economy recovering slowly
With oil holding relatively stable, there are few restrictions on meeting inflationary goals by the end of next year, a Russian finance minister said. “Inflation [in 2016] will be in Continue Reading
Russia’s Currency Is Turning a Blind Eye to Oil Prices
The Russian ruble is proving surprisingly impervious to the price of oil. The currency of the world’s largest energy exporter has more or less ignored the value of the commodity Continue Reading
Oil Continues To Plunge As Markets Turn Bearish
Oil prices fell again on Friday, endorsed by a stronger dollar and persisting fears of both a crude and refined products glut. (Click to enlarge) (Click to enlarge) (Click to Continue Reading
Oil Prices Fall on Glut in Refined Products
Oil prices pulled back on Friday, weighed down by a glut in oil products that is stoking market concerns that rebalancing will take longer than hoped. The global benchmark, Brent, Continue Reading
Crude oil prices face weekly decline as glut fears persist
Crude futures were on track for weekly losses on Friday as investors reassessed U.S. data on oil stocks and excesses in oil products in Europe and Asia. While many expect Continue Reading
Oil Glut Deeper Than Just Crude Exposed as Recovery Stumbles
Surplus of refined fuels like gasoline slows re-balancing Total oil inventories at record 3 billion barrels in June: IEA For almost two years, the spotlight in the global oil market Continue Reading
Oil Bulls Running Out of Time as Refiner Demand to Fall: Chart
Crude oil inventories in the U.S. have fallen 23.9 million barrels since the end of April. Oil bulls counting on further declines are fighting history, though, as over the past Continue Reading