|Day's Range||58.93 - 60.30|
On October 17, 2017, Brent crude oil (BNO) active futures closed $6 above the WTI (West Texas Intermediate) crude oil futures.
From October 10–17, 2017, US crude oil December futures rose 1.7%. The S&P 500 Index (SPY) and the Dow Jones Industrial Average Index (DIA) rose 0.30% and 0.70%, respectively.
CARACAS/HOUSTON (Reuters) - Venezuela's state-run oil firm, PDVSA, is increasingly delivering poor quality crude oil to major refiners in the United States, India and China, causing repeated complaints, canceled orders and demands for discounts, according to internal PDVSA documents and interviews with a dozen oil executives, workers, traders and inspectors. The disputes involve cargoes soiled with high levels of water, salt or metals that can cause problems for refineries, according to the sources and internal PDVSA trade documents seen by Reuters. The quality issues stem from shortages of chemicals and equipment to properly treat and store the oil, resulting in shutdowns and slowdowns at PDVSA production facilities, along with hurried transporting to avoid late deliveries, the sources said.
The U.S. shale industry will see another production surge in 2018 as producers have sharply ramped up bets against a fall in oil prices, major oil executives and bankers said in London on Wednesday. Patrick Pouyanne, the chief executive of Total (TOTF.PA), speaking at the Oil & Money conference in London, said he expected global oil demand to grow strongly again this year, by up to 1.6 million barrels per day (bpd). "Our U.S. colleagues are hedging like mad at $56 a barrel so we will see another wave of investment in U.S. shale, no doubt about it," Pouyanne said.
Brent oil prices could tumble more than 20% by 2018, as U.S. output surges and adds renewed pressure on an oil market that is already battling with a persistent oversupply, according to Ian Taylor, chief ...
Two days ago, on Oct. 16, the Iraqi army seized oil fields near in northern Iraq that had been operated by the Kurdish Regional Government (KRG). This threatens the livelihood of Iraq’s Kurdish region, which depended on the oil to finance both its economy and its hopes of independence, for which its citizens voted in…
Iran is ready to take part in a further extension of the OPEC oil production cut deal, the country’s Deputy Minister for Trade and International Affairs said
Investors in Whiting Petroleum (WLL) need to pay close attention to the stock based on moves in the options market lately.
According to the EIA, the natural gas inventory for the week ended October 6 was 3,595 Bcf (billion cubic feet). The storage amount is higher than the previous week's 3,508 Bcf.
The US Dollar Index rose 0.22% to 93.14 on October 16. It's near a one-week high. The US dollar (UUP) rose due to the rise in US Treasury yields.
November WTI (West Texas Intermediate) crude oil (USO)(USL) futures contracts fell 0.1% and were trading at $51.78 per barrel in NYMEX in electronic trading at 2:15 AM EST today.
On October 13, 2017, the short interest ratio for Whiting Petroleum (WLL) stock was ~19.5%. At the beginning of the year, it was ~12.6%.
TORONTO (Reuters) - Canada's main stock index rose on Wednesday, led by Canadian Pacific Railway Ltd after it reported better-than-expected third-quarter profit after the bell on Tuesday, while financial and energy shares also gained ground. The Toronto Stock Exchange's S&P/TSX composite index was up 36.03 points, or 0.23 percent, at 15,852.93, shortly after the open. Six of the index's 10 main groups were higher. (Reporting by Fergal Smith)
Investing.com - Gold prices steadied on Wednesday, one day after suffering their biggest daily loss in almost four weeks, as markets continued to speculate over President Donald Trump's choice of a candidate to succeed Janet Yellen as Federal Reserve Chair.
Iraqi Oil Minister Jabar al-Luaibi has asked BP (BP.L) ''to quickly make plans to develop the Kirkuk oifields,'' an oil ministry statement said on Wednesday. Iraqi government forces on Monday took control of the oil-rich region of Kirkuk from Kurdish peshmerga fighters who had occupied the area in 2-14, in the course of the war on Islamic State. BP says on its website it has provided technical assistance in the past to the Iraqi state-owned North Oil Company to aid the redevelopment of the Kirkuk field.
Investing.com - Crude oil prices gained in Asia on Wednesday as industry estimates of U.S. inventories showed a large that expected drop in crude, though products showed gains over expected declines.
Investing.com - Crude oil inventories fell by 7.130 million barrels, the American Petroleum Institute (API) said oin Tuesday, more than expected as gasoline stocks rose by 1.94 million barrels and distillates gained 1.64 million barrels missing expectations of declines.
Investing.com – Crude oil prices settled flat on Tuesday as expectations of a ramp up in U.S. production weighed on sentiment while easing conflict in Northern Iraq between Iraqi and Kurdish forces lessened concerns over potential supply disruptions in the region.
The American Petroleum Institute reported Tuesday that U.S. crude supplies dropped by 7.1 million barrels for the week ended Oct. 13, according to sources. The API data, however, also showed that gasoline ...
The market anticipates that crude oil inventories at Cushing rose from October 6 to 13. Cushing inventories rose for the ninth time in the last ten weeks.