|Day's range||72.42 - 72.63|
Oil prices were pushing to fresh 3½-year highs on Tuesday, as investors fretted over the future output from Iran and Venezuela, on the prospect of new U.S. sanctions on those countries. June West Texas Intermediate crude (CLM18.NYM) on the New York Mercantile Exchange rose 29 cents, or 0.4%, to $72.53 a barrel. Oil prices rallied Monday over concerns that the U.S. will impose new sanctions on Venezuela, specifically on its oil industry, after President Nicolás Maduro won a second six-year term on Sunday.
Asian shares skidded on Tuesday as a strong dollar sapped demand for emerging market assets while surging oil prices stoked concerns about a flare-up in inflation and faster U.S. interest rate increases. JPMorgan's Shigemi said investors will now turn their focus to the next Fed meeting on June 13 where it is widely expected to raise rates for a second time this year.
The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets. FUNDAMENTALS * Malaysian palm oil futures declined on Monday evening, snapping two sessions of ...
Investing.com – WTI crude oil prices settled higher on Monday as geopolitical uncertainty rose after weekend elections in Venezuela viewed as illegitimate raised the prospect of US sanctions on the country’s exports.
Is Rally in ConocoPhillips Stock Ready to Take a Breather? As we saw in the previous part of this series, ConocoPhillips (COP) stock rose marginally 0.2% for the week ended May 18. COP stock clearly underperformed crude oil.
Rising oil prices do not just affect retail consumers, U.S. farmers are considering locking in diesel prices as they are feeling the pinch of higher crude prices
By Lewis Krauskopf NEW YORK (Reuters) - Shares of U.S. airlines have been depressed by rising oil prices this year, but their descent to relatively cheap levels could position them for takeoff. While other factors, including broader market volatility, are weighing on the shares, the decline has coincided with an 18 percent rise in U.S. crude oil prices to over $70 a barrel. An expected strong summer travel season could lure investors back to the stocks with more enticing values in the face of higher fuel prices.
On May 22, the API is scheduled to release its weekly crude oil inventory report. On May 23, the EIA is scheduled to release its US crude oil production data. Baker Hughes, a GE Company (BHGE), is scheduled to release its US oil rig count report on May 25.
Schlumberger’s (SLB) correlation with crude oil prices from May 11 to May 18 was 0.10, which is a weak correlation. A weak positive correlation implies that the stock loosely tracked crude oil’s moves.
May 21 (Reuters) - Brightoil Petroleum Holdings Ltd : * WANG WEI AN EXECUTIVE DIRECTOR OF COMPANY HAS RESIGNED Source text for Eikon: Further company coverage:
May 21 (Reuters) - Brightoil Petroleum Holdings Ltd : * UPDATE ON SUSPENSION OF TRADING * TRADING SUSPENDED SINCE 3 OCT 2017 PENDING PUBLICATION OF 2017 ANNUAL RESULTS & WILL REMAIN SUSPENDED UNTIL FURTHER ...
How Did the Market View Halliburton on May 18? Halliburton’s (HAL) stock price correlation coefficient with crude oil’s price on May 11–18 was -0.09. Halliburton and crude oil prices had a negative correlation in the past week.
In this part, we’ll analyze the correlation between Weatherford International (WFT), Patterson-UTI Energy (PTEN), RPC (RES), Dril-Quip (DRQ), and Flotek Industries’ (FTK) stock prices with WTI crude oil prices.
Baker Hughes, a GE Company (BHGE), released its US crude oil and natural gas rig count report on May 18. Baker Hughes reported that US crude oil rigs were flat at 844 on May 11–18—the highest level since March 13, 2015. The rigs have also risen by 132 or ~18.5% from a year ago.
According to the EIA, the four-week average US gasoline demand decreased 0.9% to 9,370,000 bpd (barrels per day) on May 4–11. However, the demand increased by 64,000 bpd or ~0.7% YoY (year-over-year).
(adds two bullets) May 21 (Reuters) - Wuchan Zhongda Group Co Ltd: * SAYS CAPITAL NOT IN PLACE FOR UNIT'S ORIGINALLY PLANNED PETROCHEMICAL JV WITH PARTNERS CEFC SHANGHAI INTERNATIONAL AND ZHOUSHAN COMMUNICATIONS ...
Canadian oil sands are home to some of the world's largest crude deposits but reduced pipeline access to the American market has created a supply glut leading to significantly lower prices.
* Palm earlier gained over 1 pct at midday break * Hit six-week high of 2,481 rgt/T * Palm oil exports fell 18-20.9 pct in May 1-20 period -SGS, AAM (Updates with closing prices, quote) By Emily Chow KUALA ...
May 21 (Reuters) - Henan Shenhuo Coal & Power Co Ltd : * SAYS IT PLANS TO SELL ALUMINUM MATERIALS UNIT Source text in Chinese: https://bit.ly/2Iz8fy6 Further company coverage: (Reporting by Hong Kong newsroom)...
US natural gas futures increased 1.6% to $2.86 per MMBtu on May 10–17—the highest level in three months. Natural gas prices increased due to warm weather forecasts. The United States Natural Gas ETF (UNG) and the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) increased ~1.7% and ~4.7%, respectively, on May 10–17. UNG seeks to track active natural gas futures. XOP aims to follow the performance of the S&P Oil & Gas Exploration & Production Select Industry Index.
May 21 (Reuters) - Buru Energy Ltd: * ROC OIL TO BUY 50% STAKE IN UNGANI PRODUCTION LICENCES L20 & L21 ( UNGANI OILFIELD) FOR TOTAL CASH PAYMENT OF $64 MILLION * ROC OIL TO ACQUIRE A 50% INTEREST IN EXPLORATION ...
Investing.com - Oil prices rose on Monday morning in Asia, boosted by news that China and the U.S. have put a looming trade war “on hold”.
India is looking at ways to keep rising fuel prices in check, its oil minister said on Monday, with retail rates for diesel and petrol touching record highs in capital city New Delhi and financial hub Mumbai. Prices at the pump have surged on the back of rallying international markets for crude oil, which last week hit their strongest since late-2014 amid ongoing production cuts led by the Organization of the Petroleum Exporting Countries (OPEC). "Various alternatives are being looked at," Dharmendra Pradhan said in a televised speech, adding that he would "work out something soon".
KUALA LUMPUR, May 21 (Reuters) - Exports of Malaysian palm oil products for May 1 to 20 declined 20.9 percent to 736,942 tonnes from 931,758 tonnes shipped during April 1 to 20, inspection company AmSpec ...
Oil prices have surged in recent weeks, but many U.S. shale producers aren’t raking in huge profits as higher drilling costs, pipeline bottlenecks and bad hedging decisions weigh