After Rallying 14%, Can Oil Go Even Higher?
As oil pauses for breath, so can we. After a hectic week, prices are ticking slightly higher into the weekend after a positive U.S. employment report. Although more shenanigans await Continue Reading
Oil Prices Rise for Third Straight Day
Oil prices rose for a third straight day on Friday, after OPEC’s agreement to cut output for the first time in eight years. U.S. crude futures rose 62 cents, or Continue Reading
Non-OPEC Producers To Cut An Additional 600,000 Bpd Next Week?
OPEC will discuss and possibly finalize a deal with producers outside the cartel to reduce global crude oil supply on December 10 in Russia’s capital Moscow, Reuters reported on Friday, Continue Reading
Speculators boost U.S. natgas net longs for second week: CFTC
U.S. natural gas speculators this week boosted net longs for a second week in a row, betting prices will rise as temperatures fall, boosting heating demand for the winter, and Continue Reading
U.S. Shale Patch Welcomes OPEC Deal – But Needs $60 Oil
Oil rig Although OPEC’s decision to take 1.2 million bpd off the market as of January is undoubtedly good news for the U.S. shale patch, companies would likely wait to Continue Reading
Platts considers first addition to Brent basket since 2007
Oil pricing agency Platts is considering the first major overhaul in nearly a decade of its benchmark dated Brent assessment, which is used for most of the world’s crude trade. Continue Reading
Oil prices dip as doubt seeps into market on OPEC-Russia output cuts
Oil prices dipped on Friday on concerns whether major producers would implement an OPEC-Russia deal to reduce production, compounded by data showing output in Russia rose to a post-Soviet high Continue Reading
Fitch Talks Down OPEC Optimism – Oil Prices To Flatline In 2017?
Rating agency Fitch, after lauding OPEC’s decision to cut oil production by 1.2 million bpd, cautioned that prices are unlikely to move much higher than they are now, expecting them Continue Reading
Oil Heads for Biggest Weekly Advance in 15 Months on OPEC Pact
Oil is headed for its biggest weekly gain in 15 months after OPEC approved its first supply cut in eight years, with attention now shifting to the deal’s implementation and Continue Reading
Red-letter day for oil spreads, as market now sees 2017 rebalancing
After OPEC’s first output cut in eight years, long-dated oil futures spreads flipped into positive territory for the first time in two years on Thursday, suggesting an end to the Continue Reading