There is now almost no cyclical slack in the oil market, with stocks and spare capacity low. If consumption growth remains brisk it will eventually drive spot prices and spreads higher again to enforce rebalancing. [Read more]
Oil prices rose on Tuesday on a possible rise in Chinese infrastructure which would boost crude demand in China, shifting attention from the ongoing US – China trade war. Equinor photo. US oil prices up [Read more]
Oil prices slipped on Monday after initial increases on US – Iran tensions. Oversupply concerns wiped out the early gains as Saudi Arabia and other large producers ramp up their production. Saudi Arabia Oil Company [Read more]
Two oilfield service giants, Schlumberger and Baker Hughes did not meet second quarter revenue forecasts as slow international growth overshadowed record US crude production. Company photo. Baker Hughes total Q2 revenue $5.55 billion Schlumberger and [Read more]
Hedge funds have slashed bullish long positions in petroleum at the fastest rate in more than a year, as the gentle profit-taking in previous weeks turned into a rush for the exit. Equinor photo. Hedge [Read more]
Oil prices in most oil-consuming countries are rising much faster than the international benchmark prices quoted in US dollars due to a stronger greenback. iStockphoto photo. Rising oil prices will foster demand restraint By John [Read more]
Oil prices steadied in trading on Friday as the US dollar slipped and Saudi Arabia reported it will be exporting less crude in August, outweighing concerns about trade tensions between the Trump administration and China. [Read more]
Oil prices rose on Wednesday even after the US Energy Information Administration reported a rise in US crude stocks by 5.8 million barrels last week and rising US production that hit a record-breaking 11 million [Read more]
After a rocky week of trading, oil prices steadied on Tuesday as the market turned its focus to dropping US crude stockpiles and the ongoing decline of Venezuela’s oil industry. Anadarko photo. Oil prices lost [Read more]
Brent oil prices fell by over four per cent on Monday after Libya announced it had reopened its oil ports and Russia said it could increase its production if crude supplies fall short of demand. [Read more]
Last week, with no new buying in WTI, the gentle downward pressure on prices and calendar spreads finally turned into a torrent just one day later. BP photo. Oil prices drop Monday by over 4 [Read more]
The fund community is less bullish following the 75 per cent run-up in Brent prices over the last 12 months and the market’s failure to break through the previous highs set in May. Repsol photo. Brent [Read more]
Oil prices recouped some of their losses on Thursday, after a report by the International Energy Agency warned that crude capacity cushions could be “stretched to the limit”. Shell photo. Oil prices hammered on Wednesday [Read more]
Oil prices tumbled on Wednesday after Libya announced it had reopened its four oil ports and trade tensions between the United States and China escalated. AFP/Getty Images file photo by Mahmud Turkia. Brent oil prices [Read more]
Oil prices were mixed in trading on Tuesday, and gains in US crude prices were pared after US Secretary of State Mike Pompeo said that the US may consider requests from some countries to be [Read more]
Hedge funds and other money managers raised their net long position in the six most important petroleum futures and options contracts by 47 million barrels. Apache photo. Hedge funds net long position in WTI has [Read more]
Oil prices rose in trading on Monday after Syncrude reported its oil sands plant will not be fully operational until September, data showed Libyan production is dropping and the market weighed upcoming US sanctions against [Read more]
Oil prices were mixed on Friday as Brent crude dipped on rising global tensions and increased Saudi production and US crude rose on short-covering. BP photo. Oil prices on track for weekly loss Oil prices [Read more]
Oil prices fell in trading on Thursday after data from the US Energy Information Administration showed US crude stocks had risen by 1.3 million barrels last week. Analysts had predicted a 3.5 million barrel drop. [Read more]
For many American voters heading to the midterm polls in November, the gains from tax cuts passed last year have been offset by the rise in oil prices since 2016. DallasNews.com photo. Oil prices impact [Read more]
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