Oil Inches Up on Confidence Over Output Cuts
Oil prices edged up on Wednesday as investors bet that major oil producers will stick to their deal to cut output next year and help rebalance the market. While trading Continue Reading
Brent curve signals oil tanks will start emptying in second half of 2017: Kemp
OPEC and non-OPEC oil producers have agreed to reduce their combined output by more than 1.7 million barrels per day for six months from January 2017. But the agreement contains Continue Reading
The Bearish Case For Oil In 2017
Tis’ the season to not be a curmudgeon, but let’s not throw common investment sense away, because OPEC made a deal. This cutback on production has been a long time Continue Reading
2017 Oil Market Recovery Is Sure To Be Slow
This year has been tumultuous for oil. From the US$27 a barrel trough we witnessed in February to the spike to US$55 after OPEC announced a labored deal to reduce Continue Reading
Spike in gas prices ahead of U.S. holidays
With just a few days before Christmas weekend, U.S. holiday travelers are seeing spikes at the gas pump because of higher oil prices, a retail analyst said. Motor club AAA Continue Reading
Russia sees oil markets balanced in late 2017
Only when crude oil markets balance out in the second half of next year can major players starting talking about market recovery, Russia’s oil minister said. An agreement by members Continue Reading
Oil Inches Higher After API reports Significant Draw To U.S. Crude Inventories
Oil prices inched up on Tuesday in a low volume trading session after the American Petroleum Institute’s (API) weekly report showed a larger than expected draw of 4.15 million barrels Continue Reading
Oil Extends Gains as Industry Report Shows U.S. Stockpile Drop
Oil extended its advance as industry data showed U.S. crude stockpiles declined last week, trimming an inventory overhang. February futures rose as much as 0.9 percent in New York after Continue Reading
Oil Prices Edge Higher in Thin Holiday Trade
Oil prices edged higher Tuesday as coming cutbacks from some of the world’s biggest producers keep supporting the market when trading is light because of the holidays. Light, sweet crude Continue Reading
NYMEX January gas futures settle at $3.263/MMBtu, down 12.9 cents
The NYMEX January natural gas futures contract traded lower for a fourth straight day Tuesday as increasingly bearish weather forecasts continued to weigh on the market. The contract settled at Continue Reading