CLN19.NYM -

NY Mercantile - NY Mercantile Delayed Price. Currency in USD
56.88
+0.23 (+0.41%)
As of 2:29PM EDT. Market open.
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Pre. SettlementN/A
Settlement DateN/A
OpenN/A
Bid54.00
Last Price56.65
Day's RangeN/A - 57.02
Volume19,128
Ask57.25
  • Are Oil-and-Gas Companies a Good Investment?
    The Wall Street Journal

    Are Oil-and-Gas Companies a Good Investment?

    A capital-intensive business has struggled to generate returns for shareholders—and now might face growing risks over climate change.

  • Oil prices steady after two-day drop as growth concerns weigh
    Reuters

    Oil prices steady after two-day drop as growth concerns weigh

    Oil prices were steady on Wednesday, after falling the past two days, as a surge in U.S. stockpiles reinforced concerns about lackluster global economic growth amid the trade war between the United States and China, the world's two biggest oil consumers. West Texas Intermediate (WTI) crude futures rose 11 cents, or 0.2%, to $55.32 a barrel by 0252 GMT, after falling 4.3% during the previous two sessions. U.S. crude inventories rose 6 million barrels in the week to Nov. 15 to 445.9 million, compared with analysts' expectations for a increase of 1.5 million barrels, data from industry group the American Petroleum Institute showed late on Tuesday.

  • Oilprice.com

    Forget OPEC: China Now Moves The Oil Markets

    The time that OPEC rhetoric caused huge volatility in oil markets is long gone and in today’s well supplied market, it’s economic powerhouses like China that influence the price of oil

  • Asia shares trapped in a trade maze, oil nurses losses
    Reuters

    Asia shares trapped in a trade maze, oil nurses losses

    Asian shares stumbled on Wednesday as the Sino-U.S. trade talks produced nothing but a stream of conflicting messages, while concerns about a glut of supply left oil prices nursing their biggest one-day loss in seven weeks. Figures from the American Petroleum Institute out late Tuesday showed a far larger rise in crude stocks than expected. The mood in share markets was subdued with MSCI's broadest index of Asia-Pacific shares outside Japan off 0.7%.

  • Reuters

    UPDATE 1-Venezuela opposition cuts deal to delay possible Citgo seizure

    Venezuela's opposition has reached a deal with the custodians of a bond issued by state oil company PDVSA to prevent bondholders from seizing U.S. refining subsidiary Citgo, the bond's collateral, until May, according to court filings and a source. The deal to delay litigation in the case between PDVSA and the defendants, bond trustee MUFG Union Bank and collateral agent Glas Americas, laid out a schedule in which fact discovery would extend until Feb. 10, followed by a period of expert depositions before a hearing on May 5. Judge Katherine Polk Failla agreed to the arrangement, known as a forbearance agreement, last Friday, filings showed.

  • Silver Price Forecast – Silver Markets Continue Forming Support
    FX Empire

    Silver Price Forecast – Silver Markets Continue Forming Support

    The silver markets rallied a bit during the trading session on Tuesday, breaking above the highs of the last couple of days in a sign of strength. However, we haven’t exactly exploded to the upside so there still are a lot of questions when it comes to silver.

  • Goldman: Go Long On Fracking
    Oilprice.com

    Goldman: Go Long On Fracking

    Goldman Sachs is advising its clients to go long on oil, predicting that falling output could help boost prices in a year or two

  • Bloomberg

    CN Rail Strike Begins in Threat to Canadian Oil, Grain Cargo

    (Bloomberg) -- About 3,200 workers at Canadian National Railway Co. went on strike at midnight Tuesday, threatening to crimp shipments of oil, potash and grain across the country.Conductors and yard operators at Canada’s largest railway walked off the job after failing to reach an agreement with the company over issues including working conditions and drug benefits, the Teamsters Canada Rail Conference union said.“Unfortunately, we were unable to reach a deal with CN,” the union said in a statement. Workers have been without a contract since July and served a strike notice on Saturday.CN Rail is one of two main rail networks that Canada uses to ship consumer goods and exports of canola, wheat, potash and other resources from the prairies to seaports. The company carries C$250 billion ($189 billion) worth of goods annually and has increasingly been moving into shipping oil amid a bottleneck of pipelines from Alberta’s oil sands.Petroleum and chemicals account for 20% of CN Rail’s revenue, followed by grain and fertilizer with 16%. The strike involves only the company’s Canadian workers and doesn’t include the U.S., where CN Rail operates a rail line from Chicago to New Orleans.About half of Western Canada’s grain elevators are on a CN line, according to the Western Grain Elevator Association while the Mining Association of Canada said its industry is the single largest shipping group by volume on the country’s Class 1 railways. The railway shipped 180,000 barrels a day of oil in September, according to its earnings call.Autumn Harvest“There have been fairly heavy orders of late,” Bruce McFadden, director of research and analysis at grain monitor Quorum Corp., said in a phone interview. “It was a slow start to the season as the harvest was much delayed by weather. But even though it continued to be a difficult harvest there has been a substantial portion of the grain is available now.”CN Rail had been expected to supply 5,650 hopper cars per week for shipping of crops like canola and wheat to the Canada’s ports on the west coast though November, according to CN’s operating plan. In December grain shipping slows down with the weekly car allotment expected to fall to 4,150 cars until March.Canadian Labor Minister Patty Hajdu urged the parties to continue negotiations. “While we are concerned about the impact of a work stoppage on Canadians, we remain hopeful they will reach an agreement,” she said in a statement.Arbitration RejectedA representative for the Montreal-based company declined to comment on the strike. On Saturday, it said it continued to negotiate in good faith and had offered to go to binding arbitration, which the union rejected.Managers may step in to operate trains, blunting the impact of any walkout. Allison Landry, an analyst with Credit Suisse Group AG, said a walkout may crimp CN’s cargo volume, but the labor action probably wouldn’t last long and the impact on the company’s earnings wouldn’t be meaningful.“Historically, rail strikes have lasted a few days, and the Canadian government has been quick to step in and implement back-to-work legislation given the significant threat to the economy,” Landry said in a note to clients.Still, the government may have less leverage to push for a resolution over the next couple of weeks because parliament isn’t scheduled to convene until Dec. 5. That could delay the adoption of back-to-work legislation until then.The Teamsters argue that workers are being forced to operate trains alone from outside the locomotive while hanging on to moving trains with one hand and working a remote-control device in the other, creating a safety hazard. The union is also balking at a lifetime cap on prescription drug coverage and said the company is making it more difficult to take time off and work longer hours.Canadian National fell 1.1% to C$122.46 at 11:28 a.m. in Toronto. It’s gained about 22% this year, compared with the 24% gain of an index of Canadian industrial stocks.(Updates with potential impact on grains, oil, mining from 6th paragraph)\--With assistance from Theophilos Argitis.To contact the reporters on this story: Thomas Black in Dallas at tblack@bloomberg.net;Ashley Robinson in Winnipeg (Non BLP Loc) at arobinson193@bloomberg.netTo contact the editors responsible for this story: Brendan Case at bcase4@bloomberg.net, Jacqueline ThorpeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters

    Venezuela opposition cuts deal to delay litigation over PDVSA bond

    Venezuela's opposition has reached a deal with the trustee of a bond issued by state oil company PDVSA to delay litigation in a lawsuit challenging the validity of the bond, court filings showed. The opposition-appointed PDVSA board, which is recognized in the United States as the company's rightful representation, last month sued in the U.S. District Court for the Southern District of New York to annul PDVSA's 2020 bonds, which are backed by shares in U.S. refining subsidiary Citgo.

  • Oil slumps on oversupply fears, trade talk concerns
    Reuters

    Oil slumps on oversupply fears, trade talk concerns

    Oil fell more than $1 a barrel on Tuesday on concerns about excess global crude supply and limited progress toward resolving the U.S.-China trade dispute that has clouded the outlook for oil demand. Brent crude futures fell $1.53, or 2.5%, to settle at $60.91 a barrel. U.S. West Texas Intermediate (WTI) crude futures lost $1.84, or 3.2%, to settle at $55.21 a barrel.

  • Investing.com

    Oil Prices Amid U.S.-China Trade Jitters

    Investing.com - Oil prices fell on Tuesday in Asia amid more U.S.-China trade jitters.

  • Oilprice.com

    The Race To Develop A 50 Billion Barrel Oilfield

    China has clearly become the preferred partner to help develop Iran’s Namavaran field which could contain up to 53 billion barrels of crude oil

  • Rigzone.com

    Oil Down as US Crude Supply Seen Rising

    Oil dropped for a second day on indications American crude stockpiles and shale output will keep expanding.

  • Oilprice.com

    Houthis Rebels Hijack Saudi Ship Carrying Oil Rig

    The Iranian-aligned Houthis in Yemen have seized a vessel that was towing a South Korean drilling rig that was in the Red Sea

  • Largest coal plant in the West shuts down, dealing financial losses to Native American tribes
    USA TODAY

    Largest coal plant in the West shuts down, dealing financial losses to Native American tribes

    The coal facilities employed 750 people before operations began to wind down two years ago, and nearly all of the workers were Native Americans.

  • Oilprice.com

    Iraq’s Largest Oil Fields Threatened By Anti-Government Protests

    Anti-government protests in Iraq have spread from Baghdad to Basra as protesters block roads leading to five oil fields and the key export terminal in the country

  • Oilprice.com

    Oil Majors Go On $27 Billion Selling Spree

    Global giants of the oil and gas industry – the so-called supermajors – are looking to sell assets that could fetch a total $27.5 billion

  • S&P 500 Price Forecast – Stock Markets Pressing Resistance
    FX Empire

    S&P 500 Price Forecast – Stock Markets Pressing Resistance

    The stock markets really have gotten a bit ahead of themselves lately, and the impulsive move on Friday was just the latest sign of this. This isn’t to say that we should be sellers, rather that we should be hoping for some type of pullback as it offers value.

  • Gold Price Forecast – Gold Markets Recover After Initial Selloff
    FX Empire

    Gold Price Forecast – Gold Markets Recover After Initial Selloff

    Gold markets initially pulled back during the trading session on Monday, but then turned around to show signs of strength again. By doing so, the market has confirmed that the $1450 level is in fact going to be support.

  • Benzinga

    FreightWaves Oil Report: So Where Is The Impact From IMO 2020?

    The anticipated surge in over-the-road diesel prices because of IMO 2020 has not occurred. In its wide-ranging monthly report that covers the entire sweep of supply, demand and markets, the International Energy Agency spelled out where the oil market clearly is reacting to the mandates of IMO 2020. For example, based on data provided by S&P Global Platts, the price of ultra-low-sulfur diesel (ULSD) in the third week of September was about $17.25/barrel more than the price of dated Brent.

  • Are Options Traders Betting on a Big Move in Whiting Petroleum (WLL) Stock?
    Zacks

    Are Options Traders Betting on a Big Move in Whiting Petroleum (WLL) Stock?

    Investors need to pay close attention to Whiting Petroleum (WLL) stock based on the movements in the options market lately.

  • Price of Gold Fundamental Daily Forecast – Headline Driven Trade Deal Hope Forcing Out Speculative Longs
    FX Empire

    Price of Gold Fundamental Daily Forecast – Headline Driven Trade Deal Hope Forcing Out Speculative Longs

    Today’s reaction to the news is understandable since prices rose last week when the headlines read that the trade deal negotiations had hit a snag. Although the selling pressure is strong early Monday, there are still skeptics out there who cite the lack of details from the U.S. and China officials as reasons to remain cautious about the remarks.

  • Oil Price Fundamental Daily Forecast – Lack of Details Over Trade Deal Progress Capping Prices
    FX Empire

    Oil Price Fundamental Daily Forecast – Lack of Details Over Trade Deal Progress Capping Prices

    The current U.S.-China trade deal headlines could hold the crude oil market hostage for a few days until there is fresh news. The recent price action indicates traders are being reactive to the news, not proactive. Furthermore, given the lack of concrete details from Kudlow, Ross and the Chinese, crude traders are likely to be tentative. Some analysts are also being a little skeptical.