CL=F - Crude Oil Jan 19

NY Mercantile - NY Mercantile Delayed Price. Currency in USD
51.23
-1.35 (-2.57%)
As of 4:59PM EST. Market open.
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Pre. SettlementN/A
Settlement Date2018-12-19
Open52.83
Bid51.07
Last Price52.58
Day's Range50.84 - 52.95
Volume507,143
Ask51.24
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  • CNBC10 hours ago

    UPDATE 1-Mexico targets 50 pct jump in oil output, Pemex revival

    Mexico aims to lift oil and gas production by almost 50 percent in the next six years, and in January will agree on infrastructure and drilling contracts to develop 20 fields, the head of state oil firm Petroleos Mexicanos said on Saturday. Octavio Romero, chief executive officer of the company generally known as Pemex, said the new government would increase exploration investment by around 10 percent per year to reverse dwindling output as he presented a new plan for the industry. President Andres Manuel Lopez Obrador, who took office on Dec. 1, wants to revive Pemex, which has become heavily indebted as crude output slipped from a peak of 3.4 million barrels per day (bpd) in 2004 to less than 1.8 million in October.

  • OPEC has shown it can reach deal despite splits: Iran oil minister
    Reuters11 hours ago

    OPEC has shown it can reach deal despite splits: Iran oil minister

    Iranian Oil Minister Bijan Zanganeh praised OPEC on Saturday for what he said was the producer group's ability to reach agreement despite intense internal political differences. The Organization of the Petroleum Exporting Countries and its Russia-led allies agreed on Dec. 7 to cut output by more than expected, despite pressure from U.S. President Donald Trump to reduce the price of crude. "OPEC ... has shown the capacity in which members can hold talks and reach important results regarding their common interests despite having the most intense political disputes or even military conflicts (such as during the Iran-Iraq war)," Zanganeh said on Twitter.

  • CNBC11 hours ago

    OPEC has shown it can reach deal despite splits -Iran oil minister

    Iranian Oil Minister Bijan Zanganeh praised OPEC on Saturday for what he said was the producer group's ability to reach agreement despite intense internal political differences. The Organization of the Petroleum Exporting Countries and its Russia-led allies agreed on Dec. 7 to cut output by more than expected, despite pressure from U.S. President Donald Trump to reduce the price of crude. "OPEC ... has shown the capacity in which members can hold talks and reach important results regarding their common interests despite having the most intense political disputes or even military conflicts (such as during the Iran-Iraq war)," Zanganeh said on Twitter.

  • Oilprice.com12 hours ago

    Turkmenistan’s Pipeline Project Faces More Hurdles

    While Turkmenistan chivvies along its partners in the pipeline project, there are indications it has been less than forthright about its own progress

  • Here's What Investors Can Expect From Oil Prices in 2019
    Motley Fool18 hours ago

    Here's What Investors Can Expect From Oil Prices in 2019

    Crude prices could be in for a bumpy ride in the coming year.

  • U.S. Oil Prices Rise as EIA Confirms Another Inventory Draw
    Zacksyesterday

    U.S. Oil Prices Rise as EIA Confirms Another Inventory Draw

    At 442 million barrels, current crude supplies are less than 1% below the year-ago figure and are 7% above the five-year average.

  • Oilprice.comyesterday

    Slipping Rig Count Can’t Keep Oil Prices From Falling

    The U.S. and Canadian oil rig count fell for the third week in a row, but the lower number of deployed rigs didn’t keep oil prices from falling on Friday afternoon

  • Brazilian prosecutors charge ex-Trafigura oil executives with graft
    Reutersyesterday

    Brazilian prosecutors charge ex-Trafigura oil executives with graft

    Brazilian prosecutors on Friday charged two former executives of oil trader Trafigura over allegations of paying at least $1.5 million in bribes to employees of state-run oil company Petroleo Brasileiro. Prosecutors said in a statement that the charges against Mariano Marcondes Ferraz, a former Trafigura top executive, and Marcio Pinto Magalhaes, a country representative, were the first of many to come against the world's largest oil traders.

  • Oilprice.com2 days ago

    Chinese-Venezuelan Joint Venture Doubles Oil Production

    A joint venture between troubled Venezuelan state oil company PDVSA and China’s CNPC in the South American country has doubled its oil production in the past seven months

  • China’s Economic Data Might Drag Oil Prices
    Market Realist2 days ago

    China’s Economic Data Might Drag Oil Prices

    On December 14, China reported the November industrial output growth at 5.4% on a year-over-year basis—the lowest growth since early 2016. The industrial output growth was below the expectation. China’s retail sales growth rate was also at a multiyear low. China was the second-largest oil consumer in the world. Any slowdown in China’s economy would be a negative development for crude oil prices. At 7:43 AM EST, US crude oil prices have lost $0.34 from the last closing level.

  • Reuters2 days ago

    Carlyle Group names manager for U.S. crude export terminal project

    Lone Star Ports LLC will lead development and operation of a Carlyle Group-backed crude export terminal in Corpus Christi, Texas, that can fully load supertankers, according to a statement from the project leaders on Friday. Carlyle Group and the Port of Corpus Christi Authority in October jointly proposed building a $1 billion crude export terminal on an island controlled by the authority. Thursday's announcement adds a project manager to oversee development and construction of the facility, one of three competing to be the first to begin operations in the area.

  • Reuters2 days ago

    Libya's National Oil against paying 'ransom' to reopen El Sharara field

    Libya's state-owned National Oil Corp. (NOC) said it was against paying a ransom to an armed group that has halted crude production at the country's largest oilfield. "Any attempt to pay a ransom to the armed militia which shut down El Sharara (oilfield) would set a dangerous precedent that would threaten the recovery of the Libyan economy," NOC Chairman Mustafa Sanalla said in a statement on the company's website. NOC on Monday declared force majeure on exports from the 315,000-barrels-per-day oilfield after it was seized at the weekend by a local militia group.

  • What Do Marathon Petroleum’s Valuations Imply?
    Market Realist2 days ago

    What Do Marathon Petroleum’s Valuations Imply?

    Currently, Marathon Petroleum (MPC) trades at a forward PE ratio of 8.1x, above its peer average of 7.7x. Marathon Petroleum’s peers Valero Energy (VLO) and Phillips 66 (PSX) also trade above their peer average. Valero and Phillips 66 stocks trade at 8.3x and 9.0x their forward PE, respectively.

  • Reuters2 days ago

    VEGOILS-Palm gains more than 1 pct as output expected to decline

    * Market up 3.5 pct this week * Indonesia's stocks also seen easing - trader * Palm may gain further into 2,074-2,103 rgt/T range - Techs (Updates with closing prices) By Emily Chow KUALA LUMPUR, Dec 14 ...

  • Reuters2 days ago

    Oman to cut oil output by 2 percent for six months

    DUBAI (Reuters) - Oman will be cutting oil output by 2 percent from January for an initial period of six months, according to a letter sent to customers of Omani oil by the country's oil and gas ministry, ...

  • Reuters2 days ago

    VEGOILS-Palm extends gains on expectations of declining output

    * Market up 2.8 pct so far this week * Indonesia's stocks also seen easing - trader * Palm may gain further into 2,074-2,103 rgt/T range - Techs By Emily Chow KUALA LUMPUR, Dec 14 (Reuters) - Malaysian ...

  • Reuters2 days ago

    Oil prices edge up on hopes global supplies will tighten

    Oil prices climbed more than 2 percent on Thursday, after data showed inventory declines in the United States and as investors began to expect that the global oil market could have a deficit sooner than they had previously thought. OPEC's output agreement with Russia and Canada's decision to mandate production cuts could create an oil market supply deficit by the second quarter of next year, if top producers stick to the deal, the International Energy Agency said in its monthly Oil Market Report. U.S. crude inventories at Cushing, Oklahoma, the delivery point for U.S. crude futures, fell by nearly 822,000 barrels in the week through Dec. 11, traders said, citing data from market intelligence firm Genscape.

  • Reuters2 days ago

    Oil prices edge up on hopes global supplies will tighten

    OPEC's output agreement with Russia and Canada's decision to mandate production cuts could create an oil market supply deficit by the second quarter of next year, if top producers stick to the deal, the International Energy Agency said in its monthly Oil Market Report. "Other than some additional bullish statement out of the Saudis or Russians regarding strict adherence to last week's agreement or a supply disruption somewhere around the globe, we don't expect any headlines capable of pushing oil values much above this month's highs even when stretching a view through year's end," Jim Ritterbusch, president of Ritterbusch and Associates, said in a note. OPEC said on Wednesday that demand for its crude in 2019 would fall to 31.44 million bpd, 100,000 bpd less than predicted last month and 1.53 million bpd below what it currently produces.

  • Reuters2 days ago

    VEGOILS-Market factors to watch Dec 14

    The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets. FUNDAMENTALS * Malaysian palm oil futures rose on Thursday, helped by steady crude oil prices and ...

  • Associated Press2 days ago

    Business Highlights

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  • Aloha Petroleum CEO Richard Parry retiring at year's end
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    Aloha Petroleum CEO Richard Parry retiring at year's end

    Parry will be replaced by Tom Grimes, who most recently served as the Aloha Petroleum's vice president and chief financial officer.

  • MarketWatch2 days ago

    Oil settles sharply higher after report the Saudis plan to cut shipments to U.S. refiners

    U.S. oil futures saw a sharp move higher late in Thursday’s trading session to finish nearly 3% higher. Saudi Arabia plans to slash shipments to U.S. refiners within weeks to help prevent a buildup of American crude stockpiles, Bloomberg reported Thursday. Saudi Aramco warned U.S. refiners to brace for a steep drop in cargoes next month, Bloomberg reported, citing people briefed on the plans of the state-controlled oil company. January West Texas Intermediate oil rose $1.43, or 2.8%, to settle at $52.58 a barrel on the New York Mercantile Exchange.

  • Reuters3 days ago

    Vitol, rival oil traders in spotlight of Brazil bribery probe

    SAO PAULO/LONDON (Reuters) - Brazil's epic "Car Wash" corruption investigation has taken down presidents and elite businessmen, and led to the largest corporate leniency deal ever signed. Federal prosecutors allege the European multinationals and some smaller players collectively paid at least $31 million in bribes over a six-year period to employees at Brazil's state-led oil company Petrobras (PETR4.SA) to sell them oil at sweetheart prices.

  • Investing.com3 days ago

    Oil Prices Rise as IEA Forecasts Supply Deficit in 2019

    Investing.com - Oil prices rose on Thursday as the International Energy Agency forecast that the market would rebalance faster than it originally thought.