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Tag: oil prices

U.S. supply concerns keep oil prices under pressure | Reuters

U.S. supply concerns keep oil prices under pressure | Reuters

Oil prices slipped on Monday despite news that OPEC was supportive of extending a six-month deal to cut output as investors continue to grapple with worries about growing U.S. oil output and high inventories. Benchmark Brent crude futures briefly surged into positive territory, but edged back down again, after sources within the group said the […]

Opinion: Pump Price Up, but Not for Long | CSP Daily News

Opinion: Pump Price Up, but Not for Long | CSP Daily News

The drop in crude-oil prices amounts to a crash of about 12 CPG. This is aiding refiners, who are now benefiting from gasoline margin recovery by keeping part of those oil price cuts, at least for now. They shared the rest by cutting wholesale gasoline prices. U.S. refinery output is very robust, with that abundance reflected […]

Oil stretches losing streak to 6th session | MarketWatch

Oil stretches losing streak to 6th session | MarketWatch

Oil futures extended a losing streak to a sixth session Monday as traders looked to the release of monthly reports from major industry groups this week that are expected to provide updates on OPEC crude production and global demand. Prices held ground at their lowest settlement since late November as robust growth in U.S. oil […]

March madness. What’s causing gas prices to continue to plummet? | NJ.com

March madness. What’s causing gas prices to continue to plummet? | NJ.com

What’s forcing crude oil prices lower? Plenty of oil that is in storage on American shores, 528 million barrels worth, which increased 8.2 million from the prior week, according to the federal Energy Information Administration. Impatience from speculators, who were looking for a short term gain on the commodities market and are now selling, is driving […]

Surprise Oil Price Cut Shows Saudis Are Trying to Fend Off U.S. Sweet Crude | Bloomberg

Surprise Oil Price Cut Shows Saudis Are Trying to Fend Off U.S. Sweet Crude | Bloomberg

The Middle East producer cut the pricing for some of its April oil sales to Asia, surprising customers who were expecting an increase that was signaled by the structure of the market. That shows it’s trying to lure buyers toward its lighter and less sulfurous crude varieties at a time when similar-quality grades are rushing […]

Oil Services Stocks Regaining Pricing Power | ClearBridge

Oil Services Stocks Regaining Pricing Power | ClearBridge

The stabilization of crude oil prices above $50 per barrel (bbl) for West Texas Intermediate, increasing capital spending by exploration & production (E&P) companies and rising rig counts have meaningfully improved the pricing and profit outlook for the oilfield services industry. Oil service companies that provide drilling equipment, completions technology, specialized labor and other services […]

Oil prices have doubled in a year. Here’s why | CNN Money

Oil prices have doubled in a year. Here’s why | CNN Money

The confirmation caps a remarkable year for OPEC, which was forced to devise a plan to boost prices after they fell to $26 per barrel in February 2016. The price collapse — to levels not seen since 2003 — was caused by months of growing oversupply, slowing demand from China and a decision by Western […]

Saudi Arabia raises March crude oil pricing for all buyers | World Oil

Saudi Arabia raises March crude oil pricing for all buyers | World Oil

LONDON and DUBAI (Bloomberg) — Saudi Arabia, the world’s largest crude exporter, raised pricing for March sales to buyers from the U.S. to Asia as output cuts by OPEC and other producers shore up oil prices. State-owned Saudi Arabian Oil Co., known as Saudi Aramco, boosted its official pricing for Arab Light crude to Asia […]

Exxon Mobil: Permian Acquisition, Strategy And Oil Pricing – Exxon Mobil Corporation (NYSE:XOM) | Seeking Alpha

Exxon Mobil: Permian Acquisition, Strategy And Oil Pricing – Exxon Mobil Corporation (NYSE:XOM) | Seeking Alpha

Hedging Trends and Price Exxon is a financially conservative company. They tend to not make a move until the path ahead is clear. While many deals have been done in the Permian of late, the larger picture of continued lower oil prices, relatively speaking, is a possibility that a mega-player like Exxon takes seriously. In […]

Manufacturing jobs warning over gas price crunch | The Austrailian

Manufacturing jobs warning over gas price crunch | The Austrailian

Manufacturers are warning of job losses and a collapse in investment across the country as a doubling in gas prices for some businesses adds millions to their energy costs, stoking federal government calls for states to lift restrictions that stymie new gas developments. With some energy retailers telling industrial customers to “take it or leave […]