Archive for the ‘Economics Markets’ Category
MARKET: NYMEX crude oil prices edge up
June 12th, 2019 by Latest News
Crude oil prices gained slightly to hold fairly flat on markets in New York and London June 11. Analysts note that prices are down 20% from April based on concerns about slowing oil demand coupled with rising US production.
Brent crude oil spot prices are expected to average $67/bbl this year, which is $3/bbl lower than forecast last month in the US Energy Information Administration’s Short-Term Energy Outlook. In this month’s STEO, EIA reports expecting Brent to remain a…
MARKET: Brent for August drops $1/bbl
June 11th, 2019 by Latest News
Brent crude oil for August delivery dropped by $1 to dip below $63/bbl on June 10 while light, sweet crude oil prices for July and August delivery also dropped moderately but both settled above $53/bbl. Ole Hansen of Saxo Bank said, “Crude oil began th…
MARKET: Oil prices gain for two trading sessions
June 10th, 2019 by Latest News
Light, sweet crude oil on the New York market and Brent crude oil prices in London gained for a second consecutive trading session June 7. Each of the two oil benchmarks rallied to settle more than $1/bbl higher compared with the previous settlement.
Baker Hughes: US rig count down 9 units to 975
June 7th, 2019 by Latest News
The US drilling rig count fell 9 units, reaching 975 rigs working for the week ended June 7, according to Baker Hughes data. The count is down 87 units from the 1,062 rigs working this time a year ago.
The international rig count for May reached 1,126, up 64 units from 1,062 in April and up 159 units from 967 in May 2018, according to Baker Hughes data. The international offshore rig count for May was 240, down 11 units from 251 in April and up …
MARKET: NYMEX oil prices rise nearly $1/bbl
June 7th, 2019 by Latest News
Light, sweet oil for July gained 91¢ on the New York market June 6 to settle at $52.59/bbl while the Brent contract for August climbed by $1.04 to settle at $61.67/bbl in London, which analysts attributed to progress in US-Mexico talks about border se…
MARKET: NYMEX oil prices rise nearly $1/bbl
June 7th, 2019 by Latest News
Light, sweet oil for July gained 91¢ on the New York market June 6 to settle at $52.59/bbl while the Brent contract for August climbed by $1.04 to settle at $61.67/bbl in London, which analysts attributed to progress in US-Mexico talks about border se…
MARKET: US oil benchmark falls under $52/bbl
June 6th, 2019 by Latest News
Light, sweet oil for July fell $1.80 in New York June 5 to settle under $52/bbl while the Brent contract for August dropped $1.34 to settle under $61/bbl in London after a US government report showed US crude inventories at the highest since July 2017.
CAPP: Oil, gas investment should double
June 5th, 2019 by Latest News
The Canadian Association of Petroleum Producers seeks federal support for a doubling over the next 4 years of now-slumping investment in Canada’s oil and gas industry. The group made conditions supporting such a recovery part of wish list for the next …