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As oil prices claw their way back, we take a look at what happened, where we’re headed, and the majors’ plans to recover shareholder confidence
Australia, the second largest exporter of LNG, is looking to expand its global influence, but is struggling with increasing domestic costs
U.S. West Texas Intermediate and internationally-favored Brent crude oil futures posted their first weekly loss in six weeks as investors raised concerns over Russia’s participation in extending the OPEC-led program to cut production, forecasts for lower demand and rising U.S. production. January WTI Crude Oil futures settled at $56.71, down $0.27 or -0.47% and February … Continue reading Oil Price Fundamental Weekly Forecast – Pressure Building for Short-Term Pullback
The US dollar has been very volatile against the Canadian dollar during the trading session on Friday, initially dipping down towards the 1.2715 level, and then exploding to the upside, reaching as high as 1.2830. We then rolled over a bit, and it now looks as if the market is simply going to bang around … Continue reading USD/CAD Price Forecast November 20, 2017, Technical Analysis
By Nia Williams and Kevin O'Hanlon CALGARY, Alberta/LINCOLN, Neb. (Reuters) - A major oil spill on the Keystone pipeline in South Dakota helped push U.S. crude prices higher on Friday, while fueling opposition to another pipeline project by owner TransCanada Corp that faces a crunch decision in Nebraska next week. The climb in U.S crude futures and slide in Canadian heavy crude prices, as well as TransCanada Corp shares, came the day after the 5,000 barrel spill, tied for this year's largest pipeline leak in the United States. No date has been set for reopening Keystone, TransCanada said, adding that a media report that had identified a restart date was incorrect.
Energy stocks are finally starting to improve, but is this signaling an end to the multi-year malaise or is it just another trick? Read Sheraz Mian's breakdown of the sector.
Most of the world’s commodity trading is denominated in U.S. dollars, but the Chinese yuan, also known as renminbi, threatens to make some inroads.
Investing.com – Gold prices rose sharply on Friday amid an uptick in geopolitical uncertainty after North Korea ruled out negotiations with Washington on curbing its nuclear weapons programme.
CALGARY, Alberta/LINCOLN, Nebraska (Reuters) - Canadian heavy crude prices and TransCanada Corp shares slid on Friday, the day after the Keystone pipeline spilled 5,000 barrels of oil in South Dakota as officials in Nebraska mulled whether to approve another pipeline proposed by the company. It was unclear when exports could resume on Keystone, and the leak gave ammunition to environmental groups and other U.S. opponents of another pipeline proposed by TransCanada, the long-delayed Keystone XL.
Chinese crude oil inventories have fallen for the first time in over a year due to lower imports and higher processing rates at local refineries
The correlation coefficient between crude oil prices and Patterson-UTI Energy (PTEN) from November 14, 2016, to November 14, 2017, was 0.63.
Canada's main stock index rose on Friday as higher commodity prices helped resource shares, but losses from earlier in the week meant the index ended the week lower than it started it for the first time in more than two months. The Toronto Stock Exchange's S&P/TSX composite index ended up 63.20 points, or 0.40 percent, at 15,998.57. It lost 0.25 percent over the course of the week.
India's imports of African crude oil in October plunged to their lowest in over four years, with the world's No.3 oil consumer increasingly turning to cheaper supplies from the United States and heavier Middle Eastern grades, ship tracking data showed. U.S. crude production has soared more than 14 percent since mid-2016 to 9.65 million barrels per day (bpd), altering trade routes as its relatively cheap and light grades become a viable import option for Asian refiners. "Earlier in Asia, West African oil was competing with Middle East grades, but now it has a new competitor: the U.S.," said Ehsan Ul-Haq, director of crude oil and refined products at consultancy Resource Economist.
MUMBAI/NEW DELHI (Reuters) - India's state oil refiners are planning an aggressive push into natural gas in coming years to meet Prime Minister Narendra Modi's goal of making the fuel a bigger part of the country's energy mix. State-owned oil companies - Indian Oil, Bharat Petroleum and Hindustan Petroleum - are planning to raise gas contributions to between 5 and 15 percent of their incomes over the next few years, up from nearly none now, company executives said. This in line with a government target to raise the natural gas portion of India's primary energy mix to 15 percent by 2030, up from 6.5 percent now, to help meet climate targets and rein in rampant pollution.
(Corrects company official's title in paragraph 2) KUALA LUMPUR, Nov 16 (Reuters) - Sime Darby Bhd, the world's largest oil palm planter by land size, sees crude palm oil prices holding at 2,600 ringgit ...
Oil prices rose on Friday but were still on track for a week of losses due to concerns about oversupply, as signs of rising U.S. output were compounded by doubts that Russia would support an OPEC deal to extend curbs on production. U.S. light crude hit a three-day high, rising more than $1 before easing back to $56.08, 94 cents up on the day. "An end-of-week rebound is helping the energy complex claw back some of its recent losses though both crude markers are still on track for their first weekly decline in six," oil brokerage PVM said on Friday.
The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets. FUNDAMENTALS * Malaysian palm oil futures rose on Thursday after five consecutive sessions of declines ...
After three years of naivety, oil markets now see the geopolitical risk premium go up significantly as tensions in the Middle East spike
Crude oil prices fell on Wednesday and are continuing to drop after government data showed a larger-than-expected rise in crude oil and gasoline inventory. Brent crude futures fell 0.68% to $61 and West Texas Intermediate is down 0.42% to around $55. OPEC-led production cuts have helped reduce the OECD's oil storage surplus and are now back to normal levels.