|Day's range||72.18 - 72.29|
Investing.com - OPEC’s dismissal of Donald Trump’s demand for higher oil supplies bolstered crude markets on Monday, with UK Brent hitting four-year highs and West Texas Intermediate a July peak as traders feared global inventories were inadequate to match demand.
OPEC estimates that tighter emission rules for shipping fuels will cause a temporary spike in demand as refineries are expected to increase their runs
(Reuters) - The Canadian heavy oil differential closed at its widest point on record against the West Texas Intermediate (WTI) benchmark on Monday in thin trade, as transportation constraints continued to weigh. Western Canada Select (WCS) heavy blend crude for October delivery in Hardisty, Alberta, settled at $42.00 a barrel below the WTI benchmark crude futures , compared with Friday's settle of $41.00, according to Shorcan Energy brokers. Some of the recent price weakness can be attributed to leftover barrels stranded by Canada's pipeline apportionment system, where shippers nominate a certain volume of barrels but see their shipments reduced if lines are oversubscribed.
Biofuels are an alternative to shippers who want to lower the sulfur levels in their fuels without installing a scrubber, but have many practical limitations
U.S. President Trump has repeatedly used the security argument as a reason for Middle East oil producers to keep prices in check, but what is the real price tag for energy security?
Saudi Arabia will boost its crude oil production in the coming months as it expects stronger demand in global oil markets according to its Oil Minister Khalid al-Falih
Oil prices continued to climb on Monday as an Iranian official said Saudi Arabia and Russia lack the capacity to add more oil to the market. West Texas Crude oil futures for November rose 1.96% to $72.17 a barrel as of 10:49 AM ET (14:49 GMT). Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., increased 2.21% to an almost four-year-high of $79.97.
Last week’s OPEC meeting has set markets up for a price spike as the cartel ignores Iran’s threats and Trump’s tweets for a production hike
French oil and energy group Total said on Monday it had made a major gas discovery on the Glendronach prospect, located off the coast of the Shetland islands in the North Sea. Total said preliminary tests on the new gas discovery confirmed good reservoir quality, permeability and well production deliverability, with recoverable resources estimated at about one trillion cubic feet (1 tcf). It said Glendronach, located near its Edradour field, will be tied back to the existing infrastructure and developed quickly and at low cost.
The terrorist attack in Iran had a more bullish effect on oil markets than yesterday’s OPEC meeting according to analysts at RBC Capital Markets
Investing.com – U.S. futures pointed to a lower opening bell on Friday as trade war tensions kept investors on edge.The S&P 500 futures fell 5 points or 0.18% to 2,928.50 as of 6:51 AM ET (10:51 GMT) while Dow futures lost 41 points, or 0.15%, to 26,713.0. Meanwhile tech heavy Nasdaq 100 futures decreased 28 points, or 0.37%, to 7,522.50.The U.S.-Sino trade war escalated on Monday, as U.S. duties on $200 billion of Chinese goods went into effect at 12:01 AM ET (4:01 GMT) and China accused the U.S. of bullying.China cancelled mid-level trade talks with the U.S. ...
Saudi Arabia and Russia won't add significantly more oil to the market because of a lack of capacity, a top Iranian official said on Monday, predicting prices will probably rise further. On Sunday, ministers and officials from the Organization of the Petroleum Exporting Countries plus Russia and other allies ruled out an immediate oil-output boost, in effect rebuffing U.S. President Donald Trump's calls for action. The move helped push crude prices to a four-year high near $81 a barrel on Monday.
* Market snaps five earlier days of losses * Palm oil rises tracking CBOT soyoil's gain on Friday - Trader * Chinese markets closed on Monday for national holiday (Updates with closing prices, quote) By ...
Investing.com - Oil prices rose more than 1% on Monday and climbed near two-months high as the Organization of Petroleum Exporting Countries (OPEC) issued a tepid response to U.S. President Donald Trump’s demand to lower oil prices.
* Palm oil rises tracking CBOT soyoil's gain on Friday * Strong ringgit, however, seen capping gains - trader * Chinese markets closed on Monday for national holiday By Emily Chow KUALA LUMPUR, Sept 24 ...
Oil prices could rise towards $100 per barrel towards the end of the year or by early 2019 as sanctions against Iran bite, commodity merchants Trafigura and Mercuria said on Monday at the Asia Pacific Petroleum Conference (APPEC) in Singapore. Almost 2 million barrels per day (bpd) of crude could be taken out of the market as a result of the U.S. sanctions against Iran by the end of the fourth quarter this year, said Daniel Jaeggi, president of commodity merchant Mercuria Energy Trading, making a crude price spike to $100 a barrel possible. Washington has already implemented financial sanctions against Iran and it plans to target the country's oil exports from November 4, putting pressure on other countries to also cut Iranian crude imports.
The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets. FUNDAMENTALS * Malaysian palm oil futures charted a fifth consecutive day of losses on Friday evening, ...
SINGAPORE, Sept 24 (Reuters) - A supertanker carrying the first crude oil cargo for a refinery joint-venture project between Petronas and Saudi Aramco is expected to be unloaded on Monday, according to ...
Discounted prices for their crude and pipeline bottlenecks are weighing on Canadian shale drillers, but an increase in oil sands production continues to increase demand for their products
South Korea has bought no Iranian crude oil for about three months after the reimposition of U.S. sanctions on Tehran, a spokesman for the Iranian oil ministry was quoted as saying on Sunday by the ministry news website SHANA. "For about three consecutive months, South Korea has had no oil imports from Iran," SHANA quoted Kasra Nouri as saying. Three sources familiar with the matter told Reuters in early July that South Korea would not lift any Iranian crude and condensate that month, halting all shipments for the first time in six years amid U.S. pressure to cut all imports of Iranian oil from November.