Oil prices sink on last trading day of the year
A slight build in U.S. crude oil inventories and an overall yearly gain in stockpiles helped send oil prices lower on the last trading day for 2016. Data from the Continue Reading
Oil on Pace for Biggest Annual Gain Since Financial Crisis
Oil is on pace for its biggest annual gain since the financial crisis, even in a year that also sent prices dipping to a decade low. Saudi Arabia and its Continue Reading
Oil Ends 2016 On A Bullish Note
2016 has been a tumultuous year in the energy markets, but both oil and natural gas are showing promising signs heading into the New Year, with oil prices having nearly Continue Reading
Hedge Funds Bet Oil Rally to Extend Into 2017 as Output Cuts Hit
Investors are showing no sign of turning their backs on oil heading into 2017. Money managers’ wagers on rising West Texas Intermediate crude prices are triple what they were at Continue Reading
Gazprom offers loan for Turkish gas pipeline
Russian energy company Gazprom said it approved financing of up to $320 million to help build a natural gas pipeline planned through Turkey. Russian news agency Tass reported that Gazprom Continue Reading
Why Saudi Arabia Is Likely to Postpone a Huge Oil Company I.P.O.
Saudi Arabia’s oil producer, Saudi Aramco, is its crown jewel. And jewels ought not to be given away too freely. The company’s initial public offering was meant to be the Continue Reading
Two blasts in central Baghdad kill at least 21: police, medics
Two bombs exploded at a busy market in central Baghdad on Saturday killing at least 21 people and wounding more than 40 others, police and medics said. There was no Continue Reading
Economy strained for OPEC-member Angola
The steady decline in crude oil prices from 2014 peaks above $100 per barrel has left lasting impacts on the economy of OPEC-member Angola, the International Monetary Fund said. Angola Continue Reading
More oil possible from Nigeria
LONDON, Dec. 30 (UPI) — A minority player in OPEC-member Nigeria said it was able to stimulate crude oil production at one of its operating areas by about 15 percent. Continue Reading
Rising Rig Count Sees Oil Edge Lower On Final Trading Day Of 2016
Baker Hughes this week reported yet another increase in the U.S. oil and gas rig count, with 5 more rigs coming online. The previous two weeks have seen increases of Continue Reading