Oil Climbs as Stockpiles Shrink
Oil prices made small gains in topsy-turvy trading tied to falling U.S. inventories. Crude storage levels fell by 7.6 million barrels in the week ended Friday, the U.S. Energy Information Continue Reading
Oil Climbs After U.S. Crude Output Forecast Is Cut for Next Year
EIA cuts 2018 production forecast to 9.9 million barrels a day U.S. crude supplies seen dropping 2.45 million barrels: Survey Oil rose the most in more than a week after Continue Reading
Oil Prices Find Support As API Reports Massive Crude Draw
The American Petroleum Institute (API) reported a huge draw of 8.133 million barrels in United States crude oil inventories, compared to analyst’s expectations that this week would see a much Continue Reading
Demand factors push gas prices higher in the U.S.
Demand pressures push retail gasoline prices higher for more than half of the U.S. states, motor club AAA reported. File photo by Ismael Mohamad/UPI. July 11 (UPI) — Though regional Continue Reading
Goldman Sees Risk of Oil Below $40 Without OPEC ‘Shock and Awe’
OPEC needs to “shock and awe” the oil market for prices to gain, according to Goldman Sachs Group Inc. The Organization of Petroleum Exporting Countries must increase output cuts aimed Continue Reading
Goldman: Oil Prices To Fall Below $40 If Shale Doesn’t Slow
That prediction comes from Goldman Sachs, which says that the oil market is searching for a new equilibrium. The investment bank says that it is still too early to tell Continue Reading
Oil Prices Fall, Shrugging Off Potential New Output Cuts
Oil prices pulled back Tuesday morning, despite ongoing talk of possible production curbs in Libya and Nigeria and news of shrinking U.S. stockpiles. Brent crude, the global benchmark, fell 0.5%, Continue Reading
Oil rises on firm short-term demand outlook; overall market still weak
Oil prices edged up early on Tuesday, lifted in part by a strong demand outlook for the coming weeks, but overall market conditions remain weak on the back of ample Continue Reading
NYMEX August gas settles higher as weather outlooks turn bullish
NYMEX August natural gas futures rose Monday as warmer-than-average temperatures are expected for the US, a change from last week’s cooler-than-average forecast. The August contract settled at $2.929/MMBtu, up 6.5 Continue Reading
Good News Can’t Stop Oil’s Bad Mood as Short-Sellers Rule – Bloomberg
Even good news can do little to dispel the prevailing pessimism in the oil market. Hedge funds paused a swift increase last month in wagers on declining West Texas Intermediate crude Continue Reading