(Bloomberg) — Oil headed for a back-to-back weekly loss, burdened by demand concerns, rising stockpiles, and the possibility the Biden administration may make a fresh release from emergency reserves. West Texas Intermediate edged toward $84 a barrel, but is still down almost 4% this week after hitting the lowest since January. There’s concern consumption will […]
Read More(Bloomberg) — Oil fell, with a post-OPEC+ meeting rally fizzling out, as traders weighed the group’s output cut as well as further lockdowns in China. Global benchmark Brent slid toward $95 a barrel after ending almost 3% higher on Monday as the Organization of Petroleum Exporting Countries and allies including Russia agreed to shave a […]
Read More(Bloomberg) — Oil surged on the possibility that OPEC+ may decide to trim production, and as Europe’s energy crisis worsened after the Group-of-Seven nations endorsed a plan to try to cap the price of Russian crude. West Texas Intermediate advanced above $88 a barrel after sinking by almost 7% last week on concerns that slowing […]
Read MoreEnerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. The company’s oil and natural gas properties are located primarily in North Dakota, Colorado, and Pennsylvania; and Alberta, British Columbia, and Saskatchewan. ERF $15.5500 0.5300 % 3.5300 Enerplus Corp Sector : Oils-Energy […]
Read More(Bloomberg) — Oil headed for a third monthly drop, the longest losing run in more than two years, on concern that tighter monetary policy will hit growth and China presses on with its Covid Zero strategy. West Texas Intermediate fell as much as $4.09 a barrel from high to low on Tuesday, putting it on […]
Read More(Bloomberg) — Oil moved below $96 a barrel, retreating from its biggest gain in more than a month as traders weighed potential supply disruptions, including the possibility of an OPEC+ output cut. West Texas Intermediate pared a little less than half of Monday’s price jump — the biggest one-day rise in six weeks — as […]
Read MorePBF Energy Inc., together with its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. PBF $35.7900 -0.5200 % -1.4300 PBF Energy Inc Sector : Oils-Energy Industry : Oil – Refining and Marketing Signal Short Term Trend Long Term Trend BUY UP UP Day: -1.43% Wk: 3.05% […]
Read More(Bloomberg) — Famed investor Warren Buffett is steadily snowballing a stake in Occidental Petroleum Corp. in what could end up being his biggest-ever acquisition. His Berkshire Hathaway Inc. on Friday won approval to buy as much as 50% of the shares. Some investors believe it’s a step toward a full takeover, which may end up […]
Read More(Bloomberg) — Some oil and gas companies are flush with so much cash that they are paying out a full year’s worth of dividends in a single day — and sometimes more than that. While reporting second quarter results Thursday, ConocoPhillips informed investors that it will pay them $1.40 per share in a special dividend […]
Read More(Bloomberg) — Exxon Mobil Corp.’s cash haul overtook that of Alphabet Inc. for the first time since 2018, proving the oil giant is back in the big league just a year after suffering one of the biggest activist shareholder upsets in corporate history. Exxon, which lost money for the first time in its history during […]
Read More(Bloomberg) — Money managers rolled back bets against the biggest exchange-traded fund focused on oil-company stocks, signaling speculation that the price of crude is at least temporarily bottoming out after sliding sharply since last month. Short sellers piled on to the $33 billion Energy Select Sector SPDR Fund (ticker XLE), the biggest ETF focused on […]
Read More(Bloomberg) — Oil edged higher for a fourth day as shipments from key Libyan ports were suspended, the latest factor compounding market tightness. West Texas Intermediate edged above $113 a barrel after gaining over the previous three sessions. Libya’s state oil company has suspended shipments from two key eastern ports amid renewed disruption in the […]
Read More(Bloomberg) –ConocoPhillips said volatility in global gas markets may last years, as it joined other Western energy firms by investing in a $29 billion project to boost Qatar’s exports of the fuel. The Houston-based company will buy a 3.1% holding in the North Field East project. Chief Executive Officer Ryan Lance announced the deal alongside […]
Read More(Bloomberg) — A logistically risky and costly transfer of crude between tankers at sea highlights the steps at least one Chinese buyer is willing to take to ensure the smooth flow of oil from eastern Russia to Asia. Buyers are using creative ways to maintain flows as more shipowners shun Russian oil due to the […]
Read More(Bloomberg) — Oil declined at the week’s open as investors weighed a pledge by the Group of Seven to ban imports of Russian crude against a cut in official prices by Saudi Arabia and China’s wave of energy-sapping lockdowns. West Texas Intermediate fell toward $109 a barrel after closing at a six-week high on Friday. […]
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