|Day's Range||52.09 - 52.77|
* Market opened at highest level since Oct. 23 * Weaker ringgit also supported the market - trader * Palm biased to rise into 2,227-2,245 rgt/T range - techs By Emily Chow KUALA LUMPUR, Jan 18 (Reuters) ...
The United States is likely to extend waivers from sanctions on Iranian oil imports in May but will reduce the number of countries receiving them to placate top buyers China and India and to decrease the chance of higher oil prices, analysts said. Washington surprised oil markets after granting waivers to eight Iranian oil buyers when the sanctions on oil imports started in November.
Brent crude oil futures (LCOc1) slipped 14 cents to settle at $61.18 a barrel after trading as low as $60.04 intraday. U.S. crude futures (CLc1) fell 24 cents to settle at $52.07 a barrel, up from a low of $50.98. "One thing we've seen in the past - and I think we'll see it again - is that when OPEC over the last couple of years has decided to cut, they've followed through," said Tony Headrick, energy market analyst at St. Paul, Minnesota, commodity brokerage CHS Hedging LLC.
The 40 percent decline in crude oil prices in Q4 of 2018 has several causes, and has some shocking historical precedents that many haven’t heard about
U.S. refiners are bidding up prices for scarce types of crude oil needed for their most sophisticated plants as the United States reconsiders harsher sanctions on Venezuela that could further reduce imports of the country's oil. Trump administration officials in recent days met with U.S. oil company executives to lay out potential actions in response to the Jan. 10 inauguration of Venezuelan President Nicolas Maduro in an election it considered illegitimate. Among other steps, U.S. officials have recognized the opposition-run Venezuelan congress as the only legitimately elected authority.
For the global coal industry, that prospect has been one of the last great hopes for demand growth. Pakistan, which has been working on an aggressive expansion of new coal power plants under the Belt and Road’s China-Pakistan Economic Corridor, is getting cold feet.
U.S. stocks advanced as a Wall Street Journal report that the United States was considering lifting tariffs on Chinese imports eased investor worries. Canada runs a current account deficit and exports many commodities including oil, so its economy could benefit from improved global trade. At 3:37 p.m. (2037 GMT), the Canadian dollar was trading 0.1 percent lower at 1.3272 to the greenback, or 75.35 U.S. cents.
Canada runs a current account deficit and exports many commodities including oil, so its economy could benefit from improved global trade. At 3:37 p.m. (2037 GMT), the Canadian dollar was trading 0.1 percent lower at 1.3272 to the greenback, or 75.35 U.S. cents. The loonie's rally at the start of the year was "overdone," said Scott Lampard, head of global markets at HSBC Bank Canada, adding that the U.S. Federal Reserve would be more active than the Bank of Canada in raising interest rates because of the stronger U.S. economy.
Canadian oil benchmark WCS has staged a significant recovery in the light of recent production cuts of more than 300,000 bpd
Will Oil End the Week on a Lower Note?US crude oil So far this week, US crude oil February futures have risen 1.4%. However, at 11:42 AM EST on January 17, US crude oil prices had fallen $0.52 from their last closing level. Lately, bearish EIA
OPEC cut oil output sharply in December before a new accord to limit supply took effect, it said on Thursday, suggesting that producers have made a strong start to averting a glut in 2019 as a slowing economy curbs demand. The Organization of the Petroleum Exporting Countries said in a monthly report that its oil output fell by 751,000 barrels per day (bpd) in December to 31.58 million bpd, the biggest month-on-month drop in almost two years. Worried by a drop in oil prices and rising supplies, OPEC and allies including Russia agreed in December to return to production cuts in 2019.
Measuring Oil's Impact on Upstream Energy Stocks(Continued from Prior Part)Oil-weighted stocks’ returnsOn January 9–16, our list of oil-weighted stocks fell 1%—compared to the 0.1% fall in US crude oil February futures. On average, our list
OPEC already started cutting crude oil production as early as December, in response to falling oil prices in Q4 2018, but markets are slow to react to the cuts
Measuring Oil's Impact on Upstream Energy StocksOil prices On January 16, US crude oil February futures rose 0.4% and closed at $52.31 per barrel, despite bearish EIA inventory data. In the last trading session, the S&P 500 Index (SPY) and the
Russia is unable to reduce oil output sharply but will try to do so more quickly, Energy Minister Alexander Novak was quoted as saying on Thursday, after ally Saudi Arabia criticised Moscow over the pace of its cuts. There are technological limitations for reducing oil output in Russia, Interfax news agency cited Novak as saying. "Russia, as a matter of principle, cannot sharply decrease oil production but we will try to do it faster," Novak reportedly said.
KEEPING SCORE: In Europe, Germany's DAX fell 0.5 percent at 10,880 and France's CAC 40 retreated 0.5 percent to 4,787. Britain's FTSE 100 declined 0.7 percent to 6,818. Wall Street was set to fall at the open with Dow futures and the broader S&P 500 futures down 0.4 percent.
# Whiting Petroleum Corp ### NYSE:WLL View full report here! ## Summary * Perception of the company's creditworthiness is negative but improving * ETFs holding this stock are seeing positive inflows * Bearish sentiment is moderate and declining * Economic output in this company's sector is contracting ## Bearish sentiment Short interest | Positive Short interest is moderate for WLL with between 5 and 10% of shares outstanding currently on loan. However, this was an improvement in sentiment as investors who seek to profit from falling equity prices reduced their short positions on January 15. ## Money flow ETF/Index ownership | Positive ETF activity is positive. Over the last month, growth of ETFs holding WLL is favorable, with net inflows of $6.73 billion. This is among the highest net inflows seen over the last one-year and the rate of additional inflows appears to be increasing. ## Economic sentiment PMI by IHS Markit There is no PMI sector data available for this security. ## Credit worthiness Credit default swap | Negative The current level displays a negative indicator with a strengthening bias over the past 1-month. Although WLL credit default swap spreads are decreasing, they are near their highest levels for the past 1 year, which indicates the market's more negative perception of the company's credit worthiness. Please send all inquiries related to the report to firstname.lastname@example.org. Charts and report PDFs will only be available for 30 days after publishing. This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
LONDON (Reuters) - Royal Dutch Shell will begin "major maintenance work" on a number of units at its Pernis oil refinery in Rotterdam beginning on 25 January, the major said on Thursday. The ...
* Market climbs to intraday top of 2,200 rgt/T * Palm seen at 2,200-2,300 rgt/T by June as stockpiles ease - analyst (Updates with closing prices, quote) By Emily Chow KUALA LUMPUR, Jan 17 (Reuters) - ...
* Market trading in range awaiting price outlook - trader * Decline in oil prices also weighs on palm - trader * Palm oil may fall to 2,150 rgt/T - techs By Emily Chow KUALA LUMPUR, Jan 17 (Reuters) - ...
The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets. FUNDAMENTALS * Malaysian palm oil futures edged down on Wednesday, though remained range-bound, ...
Fewer and fewer energy professionals believe that oil prices will return to the triple-digit territory, with many predicting a $70 range for the short-to-medium term
The outlook for U.S. oil producers has grown increasingly gloomy as the drop in oil prices will represent a significant decrease in revenue for most operators
Maduro has been sworn in for a second term and there’s a lot of people who aren’t very happy about it, with Trump even threatening a new oil embargo against the country
Saudi Arabia has set an ambitious target for its solar plans, but can the Kingdom resist the appeal of higher oil prices in the coming years?