U.S. Oil Rig Count Rises – Up 125 Since OPEC Deal
The number of active oil and gas rigs in the United States increased again, although modestly, on Friday by 3. Both benchmarks were trading down earlier on Friday despite reports Continue Reading
Economy in oil-rich Alberta turning corner
Reconstruction in the wake of wildfires that idled parts of its oil industry and improved energy economics means Alberta is growing, a minister said. “Alberta’s economy is forecast to return Continue Reading
Texas oil production down from 2015
If preliminary data are accurate, total Texas crude oil production for 2016 was down 10 percent from the previous year, the state government reported. The Railroad Commission of Texas reported Continue Reading
Canada Stocks Tumble as Trump Trade Concerns Spread, Oil Falls
Canadian stocks plunged the most in five months as earnings and dividend disappointments among gold companies, along with weakening oil prices and trepidation over President Donald Trump’s border tax proposals, Continue Reading
Speculators cut U.S. natgas net longs for 5th consecutive week: CFTC
U.S. natural gas speculators cut their net long positions for a fifth week in a row on forecasts that the weather will remain warmer than normal for the rest of Continue Reading
Oil Prices Settle Higher After Stockpiles Report
Oil prices settled higher but didn’t break out of the narrow band they have traded in this year after government data showed the U.S. crude glut grew more slowly than Continue Reading
Oil Trades Near 19-Month High on Decline in Crude Flows to U.S.
Oil traded near the highest level since July 2015 as a drop in U.S. crude imports signaled that OPEC’s output cuts are taking effect. Futures in New York are set Continue Reading
Goldman Says Commodities Need Proof of Demand to Rally More
Are Commodities Approaching Last Inning of Cycle? Commodity markets will probably stay in a “holding pattern” until there are hard data showing real demand and shrinking stockpiles to support the Continue Reading
Why Oil Demand Forecasts Have Become A Guessing Game
Get yourself a ruler, a pencil and a piece of paper. Place the ruler at about 45 degrees and draw a line upward across the page. That’s what a chart Continue Reading
Goldman Sachs: Global Oil Inventories To Continue Dropping
Although crude oil inventories in the U.S. are expected to rise, the global oil market is showing signs of tightness and will continue to see crude stocks draw down, Goldman Continue Reading