Archive for the ‘Economics Markets’ Category
MARKET: Brent crude falls more than $1/bbl
June 18th, 2019 by Latest News
Brent oil prices fell on the London market by more than $1/bbl for August and September delivery while light, sweet crude oil in New York for July delivery settled under $52/bbl on concerns of the possibility of oil shipment disruptions through the Mid…
MARKET: Brent for August tops $62/bbl
June 17th, 2019 by Latest News
Brent oil prices rose moderately on the London market June 14 with the August contract closing slightly above $62/bbl while light, sweet crude prices in New York held fairly flat, again settling above $52/bbl.
Baker Hughes: US rig count down 6 units to 969
June 14th, 2019 by Latest News
The US drilling rig count fell 6 units, reaching 969 rigs working for the week ended June 14, according to Baker Hughes data. The count is down 90 units from the 1,059 rigs working this time a year ago.
Rising natural gas production in Argentina coupled with competitive global LNG transportation costs are expected to position the country as an emerging source of gas supply to Asia during peak demand periods, recent research from Wood Mackenzie shows.
IEA consecutively cuts oil demand growth forecast
June 14th, 2019 by Latest News
In its latest monthly Oil Market Report, the International Energy Agency cut its forecast for global demand growth in 2019 for a second consecutive month. It is now projected at 1.2 million b/d, reduced from 1.3 million b/d in the previous report and 1…
MARKET: Oil prices rise on tanker attacks
June 14th, 2019 by Latest News
Oil futures rallied on the New York and London markets June 13 following attacks on two oil tankers near the Strait of Hormuz although crude settlements failed to completely recover from the previous trading session losses of more than $2/bbl.
Canada nixes controversial-bill overhaul
June 13th, 2019 by Latest News
Industry groups warned of further damage to Canadian oil and gas investment after federal Environment Minister Catherine McKenna rejected most amendments made in the Senate to a bill overhauling environmental review of energy projects.
MARKET: NYMEX oil prices plunge more than $2/bbl
June 13th, 2019 by Latest News
Light, sweet crude oil prices for July and August dropped steeply by more than $2 on July 12 to settle below $52/bbl on the New York market while Brent crude oil also dipped by more than $2 in London to settle under $60/bbl.
BP report sees energy-emissions ‘mismatch’
June 12th, 2019 by Latest News
Citing a “growing mismatch” between hope and action, BP executives released the company’s annual Statistical Review of World Energy featuring slow progress on climate change and rapid growth in energy demand and emissions of carbon dioxide. The report …
EIA: US crude inventories up 2.2 million bbl
June 12th, 2019 by Latest News
US crude oil inventories for the week ended June 7, excluding the Strategic Petroleum Reserve, increased 2.2 million bbl from the previous week, according to data from the US Energy Information Administration. Separately, the American Petroleum Institu…