Global oil overhang to choke price recovery well into 2018
For the Saudi energy minister wondering how long it will take the world to use up excess oil stocks and rebalance the market, one picture could help find an answer. Continue Reading
Oil prices rise on tight market outlook, expected fiscal stimulus
Oil prices rose early on Friday, with Brent jumping back above $50 per barrel, as investors positioned themselves for more price increases this year in expectation of a tighter market. Continue Reading
Is Raymond James’ $80 Oil Realistic?
Oil Rig Crude oil prices have stabilised near the $50 per barrel mark, leaving traders confused as to whether the next 20 percent move from the current levels is going Continue Reading
Oil Prices’ Rebound Leaves Investors Guessing What’s Next
Oil prices rebounded in the second quarter after a historic two-year rout, boosted by a weaker dollar and a number of supply outages from Canada to Nigeria. Now, investors face Continue Reading
Brexit no more than a bump on the road to oil rebalancing: Kemp
Rebalancing the oil market could take slightly longer as a result of the upsurge in uncertainty following Britain’s vote to leave the EU but most traders seem to think it Continue Reading
NYMEX August gas settles at $2.924/MMBtu, up 6.1 cents
The NYMEX August natural gas prompt-month contract jumped 6.1 cents to settle at $2.924/MMBtu, its highest close since August 12, 2015, on bullish weather reports and a below-average injection reported Continue Reading
Oil Pares Biggest Quarterly Gain Since 2009 Amid Rebalancing
WTI surges 29% in second quarter as global supply glut easing IEA, OPEC see market balancing as output growth lags demand Oil headed for the biggest quarterly advance in seven Continue Reading
Oil prices fall as supply outlook improves
Oil prices fell in early trade on Thursday, with Brent futures struggling to defend $50 per barrel as fears over strike outages in Norway faded and as Nigeria’s production improved. Continue Reading
Crude Prices Up on Pending Norway Strike, Drop in U.S. Oil Stockpiles
Oil prices edged up Wednesday on bullish data from the American Petroleum Institute and the threat of a strike by oil and gas workers in Norway. The global benchmark, Brent, Continue Reading
Oil prices rise on looming Norway strike, but Brexit still weighs
Oil prices rose in early trading in Asia on Tuesday as a looming strike in Norway threatened to cut output in western Europe’s biggest producer, although Britain’s vote to leave Continue Reading