|Day's Range||67.58 - 67.87|
When ETAP was launched 20 years ago today, some experts predicted the UK sector of the North Sea would cease most production by 2030. From original plans to stop production at ETAP, BP decided to invest $1 billion in 2015. "One has to take stock of the potential going forward and make an intervention that allows for the right investment to extend life," Ariel Flores, BP's North Sea Chief, told Reuters.
The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets. FUNDAMENTALS * Malaysian palm oil futures edged down slightly at the close of trade on Tuesday, ...
OPEC will continue to supply a major share of the world’s oil for the foreseeable future according to Wood Mackenzie’s long-term outlook for global oil supply
Last week, President Trump criticized Germany’s reliance on Russian natural gas, but the United States is not without its own lack of independence, spending billions every year on oil from Russia and OPEC
MARKET PULSE The American Petroleum Institute reported Tuesday that U.S. crude supplies rose by 629,000 barrels for the week ended July 13, according to sources. The API data also showed supplies of gasoline also climbed by 425,000 barrels, while distillate stockpiles added 1.
Richard Vogt, a prominent herpetologist who studies turtles, used photos of scantily clad women doing field work in his slides during an acceptance presentation last week for a major award. An audiovisual organizer at the conference put blue censorship boxes over parts of the women’s bodies. The Herpetologists’ League rescinded the award Friday (July 13)…
U.S. oil prices settled higher Tuesday, reversing from earlier declines as news of a production outage in Libya served as a reminder that overall supplies remain tight. In a recent statement, Libya's National Oil Corporation said it declared force majeure on crude oil loadings as of July 16 at the Zawiya port. "Libya cannot be counted on yet to be a reliable supplier," said Phil Flynn, senior market analyst at Price Futures Group.
On July 16, US crude oil August 2018 futures closed ~$6.1 above the August 2019 futures contract. On July 9, the futures spread was at a premium of ~$8.49. Between July 9 and July 16, US crude oil August futures fell 7.8%.
On July 16, US crude oil August futures fell 4.2% and settled at $68.06 per barrel—their lowest closing level since June 21. In the week that ended on July 13, the oil rig count was unchanged from the previous week and stood at 863.
(Reuters) - Canadian oil sands production will rise more than half a million barrels per day in 2019 and growth will moderate thereafter, according to a forecast by data firm IHS Markit . By then, ongoing projects will be completed and an initial boost to production will slow down, IHS Markit said in a blogpost on Tuesday. "Over the past 12 months alone, the difference in price compared to a barrel of West Texas Intermediate (WTI) has fluctuated just under $10 per barrel to more than $30," according to IHS Markit analyst Kevin Birn.
The outlook for crude-oil prices has been clouded by a bevy of concerns on both the supply and the demand sides. All that news has weighed on oil prices, pushing the global benchmark Brent crude down to near $72 per barrel, the lowest point since early April. Goldman Sachs' analyst Damien Courvalin wrote in a report published Monday: "Ultimately, global inventories are low, oil demand remains robust and we still expect a deficit once U.S. secondary sanctions are reintroduced.
Both George W. Bush and Barack Obama threatened to use their veto power to halt it from becoming law.
* Weaker ringgit limits palm declines -trader * Market sentiment weak on slow demand -trader (Updates with closing prices) By Emily Chow KUALA LUMPUR, July 17 (Reuters) - Malaysian palm oil futures edged ...
July 17 (Reuters) - Shanxi Coal International Energy Group Co Ltd: * SAYS IT PLANS TO SET UP ENVIRONMENTAL ENERGY JV WITH REGISTERED CAPITAL OF 100 MILLION YUAN ($14.96 million) IN ZHEJIANG PROVINCE Source ...
The NZD/USD has formed an inverted Head and Shoulders pattern, and we can see a breakout above the neckline (blue). 0.6790-0.6805 is the POC zone, and the price could bounce from the zone on another retest. However, a break above 0.6839 might initiate a new bullish move towards 0.6900. As long as the pair is above 0.6729, bulls should be safe.
Oil prices have declined sharply the past week as the Sino-U.S. trade war intensifies and were hovering below $72 per barrel on Tuesday, not far from their lowest since mid-April. "Production disruptions and large supply shifts driven by U.S. political decisions are the drivers of this new fundamental volatility, with demand remaining robust so far," the bank said in a note dated Monday. The administration of U.S. President Donald Trump is pushing countries to cut all imports of Iranian oil from November as it reimposes sanctions over Tehran's nuclear programme.
Investing.com – Oil prices rebounded on Tuesday after plunging more than 4% in the previous session as U.S. Treasury Secretary Steven Mnuchin said the U.S. is considering waivers on Iran sanctions for some crude importers.
* Palm oil flat at the midday break * Market sentiment overall weak on slow demand - trader * Palm oil to retest support at 2,148 rgt/T By Emily Chow KUALA LUMPUR, July 17 (Reuters) - Malaysian palm oil ...
Silver markets have done very little during the day on Monday, dancing around the $15.75 level. This market looks to be very choppy in this region, and I think that it makes a lot of sense because when you look at the longer-term charts, we are beginning to hit major support levels.
Iran's oil exports could fall by as much as two-thirds by the end of the year because of new U.S. sanctions, putting oil markets under huge strain amid supply outages elsewhere in the world. Washington initially planned to totally shut Iran out of global oil markets after President Donald Trump abandoned a deal that limited Iran's nuclear ambitions, demanding all other countries to stop buying its crude by November.