Oil Survives Bearish Backlash
Crude benchmarks posted steep losses this week in the wake of the incredibly bearish assessment from the IEA. The losses continued on Wednesday and Thursday after the EIA reported a Continue Reading
Canadian heavy crude prices fall after TransCanada shuts Keystone pipeline
Canadian heavy crude benchmark Western Canadian Select at Hardisty fell sharply Friday after TransCanada shut its 600,000 b/d Keystone pipeline Thursday following a leak. Sources said WCS traded Friday at Continue Reading
Higher Oil Prices Reduce North American Oil Bankruptcies
Haynes and Boone. This year, only 20 companies on the continent have declared bankruptcy—there were three times more than that last year. So far, the oil price crash of 2014 Continue Reading
Oil steady, but set for first weekly fall in six on lingering oversupply
Oil prices were steady on Friday but on track for the first weekly fall in six weeks, under pressure from surging U.S. supplies and creeping doubts over Russian support for Continue Reading
Production enthusiasm drags oil prices lower
The potential for more oil production from several basins, and a call from Norway’s central bank to divest from energy stocks, pulled oil prices lower Thursday. Crude oil prices are Continue Reading
Oil extends losing streak on U.S. oversupply worries
Oil prices ended lower again on Thursday on increased concerns about growth in U.S. production and inventories, despite expectations that major world producers will extend a supply-cut deal later this Continue Reading
Oil Prices Could Double If Middle East Conflict Escalates
Scarcity doesn’t really justify the upward price movement. There isn’t a shortage of oil in the world. But there could be, in the worst case, if missiles start flying between Continue Reading
Oil Tycoon Hamm Slams EIA’s Overoptimistic Shale Forecasts
As a powerful oil market mover, the EIA needs to have “more sophisticated” forecasts about U.S. shale production, because overly optimistic expectations depress oil prices and disadvantages the U.S. market, Continue Reading
Oil steady as expected output curbs balance U.S. supply
Oil markets stabilized on Thursday as expectations that OPEC would extend production limits balanced rising U.S. crude production and inventories. Brent crude oil LCOc1 was up 20 cents a barrel Continue Reading
Transportation constraints and export costs widen the Brent-WTI crude oil price spread
In its November Short-Term Energy Outlook (STEO), EIA forecasts the price difference between West Texas Intermediate (WTI) crude oil priced at Cushing, Oklahoma, and Brent, the global crude oil price Continue Reading