Archive for the ‘Economics Markets’ Category
In its latest monthly Oil Market Report, the International Energy Agency said the global oil market remains calm despite the ongoing geopolitical supply concerns. The geopolitical supply concerns around Libya, Iran, and Venezuela have been joined in th…
EIA: US crude inventories up 5.4 million bbl
May 15th, 2019 by Latest News
US crude oil inventories for the week ended May 10, excluding the Strategic Petroleum Reserve, increased by 5.4 million bbl from the previous week, according to data from the US Energy Information Administration. At 472 million bbl, US crude oil invent…
Light, sweet crude oil prices gained modestly to approach $62/bbl on the New York market by the May 14 settlement while the Brent contract for July gained $1/bbl to settle above $71/bbl for the first time in five trading sessions.
IGU: Global LNG imports rose 40% in 2018 vs. 2017
May 14th, 2019 by Latest News
Continued growth in US Henry Hub-priced LNG exports and a general rise in spot LNG cargoes led to the highest year-to-year increase ever in total global LNG imports during 2018, the International Gas Union said as it released its 2019 Wholesale Gas Pri…
China raises US LNG import tariffs to 25%
May 14th, 2019 by Latest News
In retaliation for the US increasing the tariff on $200 billion in Chinese goods to 25% from 10%, which took effect May 10, China reported May 13 it will assess a 25% tariff on US LNG starting June 1—an increase from the 10% level instituted in Septemb…
Light, sweet crude oil prices closed just above $61/bbl on the New York market May 13 while Brent prices hovered around $70/bbl in London awaiting more details on repeated attacks within days to Saudi Arabian oil tankers and other vessels near the Stra…
Two Saudi Arabian oil tankers were reportedly attacked off the coast of the United Arab Emirates this weekend, sending crude futures up sharply May 13. Supply disruptions in the Middle East on top of an already tight crude market could send oil prices …
WoodMac: Exploration survey shows industry optimistic amid geopolitics
May 13th, 2019 by Latest News
Wood Mackenzie said its 11th annual exploration survey shows the oil and gas industry foresees a return to profits enabling exploration of promising prospects. WoodMac surveyed 258 senior energy leaders and exploration professionals worldwide.
MARKET WATCH: Oil benchmarks settle mixed for second consecutive trading session
May 13th, 2019 by Latest News
Light, sweet crude oil prices declined slightly May 10 to settle under $62/bbl for both the June and July contracts on the New York market May 10 while Brent prices in London gained with the July contract holding above $70/bbl.
Brent crude oil for July gained modestly to settle for a second consecutive day above $70/bbl on the London market May 9, but light, sweet crude oil prices fell in New York to settle under $62/bbl. US and China resumed trade talks May 9-10 in Washingto…