Archive for the ‘Economics Markets’ Category
Light, sweet crude oil contracts for July and August plunged by more than $3.50/bbl on May 23, marking the sharpest single-session drop since Dec. 24, 2018, and the lowest settlement since Mar. 12. Brent crude oil prices also fell more than a $3/bbl on…
MARKET WATCH: NYMEX oil price hovers at $63/bbl
May 22nd, 2019 by Latest News
Light, sweet crude oil prices fell slightly May 21 as the contract continues to hover at $63/bbl on the New York market while Brent crude oil prices gained modestly with the July contract settling above $72/bbl.
Oil from US shale on track to rise 16% in 2019
May 21st, 2019 by Latest News
US shale operators are on course to increase oil production markedly in 2019. The growth in US onshore production from the first quarter through the fourth quarter could come in at around 1.1-1.2 million b/d, or 16% for the full year, according to Ryst…
Tracking by Cowen Inc., an American multinational investment bank, shows spending plans for 2019 by independent exploration and production firms are down 11%. Cowen expects independent E&Ps to honor capital discipline commitments for the remainder …
Oil prices gained modestly on the New York market May 20, settling above $63/bbl while Brent crude oil prices in London fell slightly to settle under $72/bbl. Light, sweet oil prices rose to their highest level in nearly 3 weeks on May 20, which analys…
Oil prices dropped on both the New York and London markets May 17, ending three sessions of gains. Analysts attributed the price drop to heightened US-Iran tensions and rising concerns about possible disruptions to oil shipments across the Middle East.
API: US petroleum markets remained solid in April
May 17th, 2019 by Latest News
US petroleum markets turned in a solid overall performance in April, according to the latest Monthly Statistical Report from the American Petroleum Institute. Crude oil production sustained a record-tying 12.1 million b/d while total petroleum demand w…
Crude oil benchmarks gained on markets in New York and London for a third consecutive trading session May 16 with light, sweet crude marking its biggest single-session gain in 3 weeks as the June contract closed above $62.80/bbl and the July contract c…
IHS Markit: COTC process seen doubling profits
May 16th, 2019 by Latest News
Crude oil-to-chemicals (COTC), a new chemical process technology, could more than double the profitability derived from a barrel of crude oil, according to IHS Markit. Based on its analysis, global, integrated refining and petrochemical companies curre…
Benchmark crude oil prices gained modestly while traders and analysts monitored US-Iran tensions. Light, sweet crude oil prices gained to settle above $62/bbl on the New York market on May 15 while the Brent contract for July gained modestly to approac…