Arctic’s strongest sea ice breaks up for the first time on record
Sea Ice Arctic sea ice works as the planet’s air conditioner in that it keeps the polar regions cold and helps keep the global climate stable, according to the NSIDC Continue Reading
Texas Exports More Oil Than It Imports For First Time Ever
The Texas Gulf Coast oil terminals sent abroad more crude than they received in April, the Energy Information Administration said this week. During that month, crude oil exports from the Continue Reading
The Next Major Challenge For Norway’s Oil Industry
The next challenge for Norway’s oil industry may not come from another oil price crash. It could come from a political uncertainty over which new areas Western Europe’s biggest oil Continue Reading
Oil steady as demand outlook counters boost from Iran sanctions
Oil held steady on Tuesday, as the prospect of price support from U.S. sanctions on Iran was offset by concern about the outlook for demand, particularly in light of the Continue Reading
Crude futures settle higher on global supply concerns
October ICE Brent settled 38 cents higher at $72.21/b Monday, while September NYMEX crude settled 53 cents higher at $66.44/b as market participants focused on the impact of renewed US Continue Reading
Bullish oil bets fall to 11-month low
Hedge funds have cut their bullish position in crude oil and refined fuels to the lowest level for almost a year, as fund managers continued to close out former long Continue Reading
Oil prices stuck between supply fears, slow demand
The price of crude oil was stable ahead of the start of U.S. trading on Monday as supply-side fears balanced concerns about growth in the global economy. Iran announced Monday Continue Reading
What Caused Oil’s Longest Losing Streak In Years?
Oil prices seemed to have leveled off after seven consecutive weeks of weekly declines, the longest streak in years. But the next steps are unclear. In the battle over the Continue Reading
China defies U.S. pressure as EU parts ways with Iranian oil
China, seeking to skirt U.S. sanctions, will use oil tankers from Iran for its purchases of that country’s crude, throwing Tehran a lifeline while European companies such as France’s Total Continue Reading
Minister: French supermajor Total formally leaves Iran
Iran’s oil minister said Monday the process for finding a new company to invest in its South Pars gas field was under way now that French supermajor Total left. Iranian Continue Reading