Oil Inches Higher On Strong Crude Draw
Crude oil prices remained relatively stable after the Energy Information Administration reported a draw of 5.9 million barrels in U.S. crude oil inventories for the week to June 15. At Continue Reading
NYMEX July gas rises 6.4 cents on warmer weather outlook
The NYMEX July natural gas futures contract rose 6.4 cents Wednesday to settle at $2.964/MMBtu on a warmer-than-average weather forecast. The front-month contract was trading Wednesday between $2.912/MMBtu and $2.969/MMBtu. Continue Reading
Oil up on U.S. stocks, Libya ahead of OPEC meeting
Oil prices rose on Wednesday, supported by a drop in U.S. commercial crude inventories and the loss of storage capacity in Libya, with investors cautious ahead of a biannual meeting Continue Reading
Oil Prices Steady After API Reports Crude Draw, Gasoline Build
As oil prices continue to fall, the American Petroleum Institute (API) reported a draw of 3.016 million barrels in crude oil inventories for the week ending June 15, compared to Continue Reading
Goldman: Expect Another Bull Run In Oil
The expected increase in oil production will not leave the market in a situation of oversupply, and in fact, barring no further action, the world could still be short of Continue Reading
OPEC, Russia Promise More Oil, but Can They Pump Enough?
Saudi Arabia and Russia have promised they will lead OPEC and other big oil producers in a deal this week to boost output and lower prices. What if it isn’t Continue Reading
Oil complex rallies despite China/US trade tension
The oil complex strengthened steadily into the US afternoon Monday ahead of June 22’s meeting in Vienna between OPEC members and key non-OPEC producer Russia. ICE August Brent settled $1.90 Continue Reading
Oil rises ahead of OPEC, pressured by China tariffs
Oil prices rose in the volatile trade Monday as this week’s OPEC meeting raised the specter of production increases and as investors assessed the impact of a trade dispute between Continue Reading
Goldman Sachs Affirms Bullish View On Oil Prices
Despite expectations that OPEC and Russia will likely decide to boost production this week, Goldman Sachs continues to have a very bullish view on oil prices, with strong demand growth Continue Reading
Permian Discount Could Rise To $20 Per Barrel
The pipeline constraints in the Permian basin have become a hot topic lately, not least because of the steep discounts that oil producers in West Texas have been forced to Continue Reading