(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) — From Saudi Arabia to West Texas, drillers are pumping more oil to cash in on a scorching price rally. But a region that’s home to a fifth of the world’s crude reserves is mostly missing out. All over Latin America, the upside of $100 crude has been blunted by nationalist policies that tightened […]
Read More(Bloomberg) — In a dusty corner of Oklahoma, close to where Erle Halliburton founded his eponymous oil services empire 103 years ago, a group of workers shows why US oil production growth has been underwhelming in spite of a price boom. This particular Halliburton Co. crew is busy cannibalizing older frack pumps — the powerful, […]
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 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 MoreCanadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. CNQ $54.4800 -0.7200 % -1.3000 Canadian Natural Resources Sector […]
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 MoreA midstream energy company, together with its subsidiaries, acquires, owns, develops, and operates primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil; and gathering and disposing produced water. WES $26.0300 -0.3700 % -1.4000 Western Midstream […]
Read More(Bloomberg) — Oil slid as investors assessed signs of lackluster US gasoline demand. West Texas Intermediate fell near $97 a barrel, while the dollar erased an earlier loss, making commodities priced in the currency less attractive. A US report showed gasoline inventories rose more than expected last week, while a four-week average indicated high prices […]
Read More(Bloomberg) — Oil dropped below $100 a barrel, with Goldman Sachs Group Inc. saying that a plunge driven by fears a recession will hurt demand was overdone. West Texas Intermediate fell as much as 1.9% to trade around $98 a barrel. Brent crude fell over more than $10 on Tuesday, its third-largest ever in dollar […]
Read More(Bloomberg) — Oil fluctuated as investors weighed concerns that a global slowdown will erode demand against still-solid physical market signals. West Texas Intermediate rose toward $109 a barrel after dropping more than 1% earlier in the session. Trading volumes will likely be weaker than usual on Monday given the holiday in the US for the […]
Read More(Bloomberg) — Global oil prices could reach a “stratospheric” $380 a barrel if US and European penalties prompt Russia to inflict retaliatory crude-output cuts, JPMorgan Chase & Co. analysts warned. The Group of Seven nations are hammering out a complicated mechanism to cap the price fetched by Russian oil in a bid to tighten the […]
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) — Oil sank as investors weighed escalating concerns that the US may be headed for a recession, while the Biden administration prepared to step up its fight against lofty pump prices by calling for a tax holiday on gasoline. West Texas Intermediate tumbled toward $104 a barrel, echoing last week’s retreat, with prices falling […]
Read More(Bloomberg) — Oil steadied in Asia — after plunging almost 7% on Friday — as traders weighed prospects for higher near-term demand against concerns that aggressive US monetary tightening will lead to a recession. West Texas Intermediate traded above $109 a barrel after tumbling by the most since early April last week as escalating worries […]
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