Oil prices gained Wednesday as U. S. crude inventories decreased last week. Energy Information Administration said Wednesday crude supplies shrank 200,000 barrels to 360 million barrels for the week ending Sept 6. Gasoline supplies rose ...
Tags: Oil, Metallurgy, Mineral, Energy
U.S. oil prices dropped Monday after July durable goods orders came in weaker than expected. New orders for manufactured durable goods in July tumbled 7.3 percent from the previous month following three consecutive monthly increases, ...
Tags: Oil Prices, Durable Goods Data
Oil prices dropped on profit- taking Monday after gains for six trading days on concerns that the unrest in Egypt could disrupt oil supplies. Although Egypt is not a major oil producer, it controls the Suez Canal and the ...
Tags: Oil Prices
Oil prices went up Thursday as unrest in Egypt bolstered concerns that oil supplies from Middle East may be disrupted. The Middle East accounted for 35 percent of global oil output, according to the International Energy Agency. Egypt ...
Tags: Oil, Metallurgy, Mineral, Energy
Oil prices surged on Thursday as economic data around the globe added optimism to economic growth. In the week ending July 27, the advance figure for seasonally adjusted initial jobless benefits claims decreased 19,000 to 326, 000, the ...
Tags: Oil Prices, Global Growth Optimism
Oil prices advanced on Wednesday after a report showed that U.S. economic growth was higher than expected in the second quarter of the year. The U.S. real gross domestic product (GDP) increased at an annual rate of 1.7 percent in the ...
Tags: Oil Prices, Economic Data
US oil prices rose above $US100 a barrel for the first time in more than a year, following political unrest in Egypt and a sharp fall in domestic stockpiles. Light, sweet crude for August delivery rose $US1.64, or 1.7 per cent, to ...
Tags: oil futures, oil, mineral
Goldman Sachs said earlier this week it had closed its Brent/WTI spread trade recommendation after the ICE Brent premium to NYMEX crude fell below its target of $5/b, adding short-term scope for further narrowing remained, but pipeline and ...
Tags: Chemicals, Goldman Sachs
Production of light, sweet crudes from unconventional oil fields in the US is ramping up so fast that at some point it will outpace the country's refining capacity and -- at least for the Gulf Coast -- this could occur within two years, a ...
Tags: Metallurgy, Mineral, Energy, oil, Sweet Oil
Even with the shale revolution leading to booming US oil production, the head of the US Energy Information Administration said Wednesday he does not expect the country to become an oil exporter any time soon. Beyond the political ...
NYMEX parent CME Group will likely implement additional quality specifications on its light sweet crude futures starting with the January 2014 contract, a member of the Crude Oil Quality Association's board said Thursday. CME plans to ...
Tags: Metallurgy, Mineral, Energy, Petroleum
The rapid pace of new US crude production has traders scrambling to assess constantly moving crude differentials as supporting infrastructure grows and changes the dynamics. Not long ago, there was too much crude in Cushing, Oklahoma, the ...
Tags: US Debottlenecking, Chemicals
Sweet North Sea crude values have begun rebounding as European crude oil traders begin to take note of improving sweet refining margins, the first time in over a month that sweet margins have performed better than sour, traders said Monday. ...
Tags: Sweet North Sea, Margins
The recent narrowing in the Brent premium to NYMEX crude, which fell to a 17-month low of $7.48/b on Thursday, is set to continue into the third quarter, with $5/b a possibility, before widening again early next year, Goldman Sachs analysts ...
Tags: Brent/WTI, Brent premium
The Asia Pacific sweet crude market is expected to stay on a downward trajectory as it faces more competition from falling West African crude prices and an oversupply of regional spot cargoes, traders said this week. Perpetually weak ...
Tags: Sweet Crude Market, Sweet Crude