CLU14.NYM - Crude Oil Sep 14

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  • Associated Press1 hour ago

    Business Highlights

    Chief executives at the biggest public companies got an 8.5 percent raise last year, bringing the median pay package for CEOs to $11.7 million. Across the S&P 500, compensation for CEOs is often hundreds of times higher than typical workers. WASHINGTON (AP) -- The Trump administration has told Congress it's reached a deal that would allow Chinese telecommunications giant ZTE Corp. to stay in business, said a source familiar with the talks who spoke on condition of anonymity to discuss a confidential matter.

  • Investing.com2 hours ago

    Crude Oil Prices Settle 4% Lower as Traders Cut Bets on Global Supply Shortage

    Investing.com – A wave of selling hit crude oil prices Friday on signs of increasing U.S. oil expansion and reports OPEC and its allies could lift output to counter a supply shortage from Iran and Venezuela.

  • Markets Right Now: Oil prices, energy companies fall sharply
    Associated Press3 hours ago

    Markets Right Now: Oil prices, energy companies fall sharply

    NEW YORK (AP) — The latest on developments in financial markets (all times local):

  • MarketWatch5 hours ago

    Chesapeake Energy's stock suffers biggest drop in 2 years, after oil prices plunge

    Trading volume reached 55.4 million shares, enough to make the stock the most actively traded on the New York Stock Exchange. The selloff would be the biggest one-day percentage decline since it tumbled 10.7% on May 9, 2016. Weighing on the oil and gas company's stock was the 4.2% plunge in crude oil futures prices , which was triggered by talk that Russia and the OPEC oil cartel could increase output.

  • Forbes5 hours ago

    Congress Challenges New 'Super OPEC'

    The Organization of the Petroleum Exporting Countries is cutting production to drive oil prices up -- classic cartel behavior.  In November of 2016, OPEC and a handful of other oil producers, including the world’s largest– Russia – reached a decision to cut 1.8 million barrels of oil per day from global output. This new “Super OPEC” – informally referred to as the “Vienna Group” - accounts for 55 percent of global oil supply and nearly 80 percent of the world’s proven reserves, which gives it tremendous market influence.

  • Investopedia5 hours ago

    8 Energy Stocks For The New Oil Boom

    Many investors are asking whether oil stocks, which have posted huge gains in the past year, have much fuel left to rise. One energy area still with huge upside may be oil refining companies. Morgan Stanley also is bullish on refiners, per Barron's, naming Marathon Petroleum Corp. ( MPC) and Valero Energy Corp. ( VLO) as its top U.S.-based picks, as well as international companies Thai Oil PCL (TOP.Thailand), Bharat Petroleum (500547.India), Repsol (REP.Spain), and Tupras Turkiye Petrol Rafinerileri (TUPRS.Turkey). Andeavor ( ANDV) has agreed to be acquired by Marathon, while Morgan Stanley also sees upside in Phillips 66 ( PSX).

  • Reuters5 hours ago

    Subtropical storm Alberto's landfall expected early next week

    U.S. Gulf of Mexico producers and refiners are monitoring subtropical storm Alberto, which is expected to make landfall between east Louisiana and the Florida panhandle early next week, the companies said on Friday. The National Weather Service on Friday predicted the storm would bring heavy rain to the central Gulf Coast region and the southeastern United States later this weekend and continue into early next week. The Louisiana Offshore Oil Port (LOOP), located about 20 miles south of the Louisiana coast in the Gulf, was operating normally, according to the company's website.

  • Oilprice.com6 hours ago

    U.S. Rig Count Rises Amid Crashing Oil Prices

    The U.S. oil and gas rig count increased for the week ending May 25th while oil prices saw a steep correction as traders reacted on bearish comments from OPEC and Russia

  • MarketWatch6 hours ago

    Drop in oil prices won’t rescue drivers from $3-a-gallon gas for Memorial Day

    The plunge in oil prices this week won’t be enough to save drivers from paying $3 a gallon as soon as this Memorial Day weekend. Prices may hit the $3 level by Memorial Day, said Patrick DeHaan, head of petroleum analysis at GasBuddy.

  • Reuters2 hours ago

    Oil price fall hits energy shares, dollar rises

    By Laila Kearney NEW YORK (Reuters) - Growing expectations of increased oil supply hit crude prices on Friday, lifting the U.S. dollar and weighing on energy shares, while political upheaval in Europe ...

  • MarketWatch7 hours ago

    Airline stocks surge to fuel the Dow transports' rally, as oil prices tumble

    Airline stocks soared Friday, giving a big boost to the Dow Jones Transportation Average , with the tumbled in crude oil prices helping fuel the rally. The NYSE Arca Airline Index rallied 3.0%. The Dow ...

  • Largest Injection in US Natural Gas Inventories since 2015
    Market Realist7 hours ago

    Largest Injection in US Natural Gas Inventories since 2015

    On May 24, the EIA released its natural gas storage report. The EIA reported that US natural gas inventories increased by 91 Bcf (billion cubic feet) to 1,629 Bcf on May 11–18—the largest build in US natural gas inventories for this time of the year since 2015. However, the inventories were down by 804 Bcf or 33% from a year ago.

  • Where US Crude Oil Could Close Next Week
    Market Realist7 hours ago

    Where US Crude Oil Could Close Next Week

    The inverse relationship between oil prices and oil’s implied volatility is illustrated in the above graph. Since US crude oil’s 12-year low in February 2016, US crude oil active futures have risen 169.8%. US crude oil’s implied volatility fell 70.1% between February 11, 2016, and May 24, 2018. Price forecast

  • Is $3 Possible for Natural Gas Next Week?
    Market Realist7 hours ago

    Is $3 Possible for Natural Gas Next Week?

    On May 17–24, natural gas July futures rose 2.9%, while the implied volatility fell 1.5%. Since March, these two variables have broadly diverged. Price forecast

  • Is Oil Losing Strength before Memorial Day Weekend?
    Market Realist7 hours ago

    Is Oil Losing Strength before Memorial Day Weekend?

    On May 24, US crude oil July futures fell 1.6% and closed at $70.71 per barrel. On the same date, the United States Oil ETF (USO) fell 1.5%.

  • Gasoline prices are rising into Memorial Day, but they may soon peak around $3 a gallon
    CNBC7 hours ago

    Gasoline prices are rising into Memorial Day, but they may soon peak around $3 a gallon

    American drivers are facing the highest gasoline costs in about four years, but the worst is likely almost over.

  • Week 20: Where Did Bunker Fuel Prices Head?
    Market Realist8 hours ago

    Week 20: Where Did Bunker Fuel Prices Head?

    Previously in this series, we noted that most of the crude tanker stocks fell in week 20, which ended on May 18. In week 20, the average Aframax rates were higher than the average VLCC rates. In this part, we’ll see how bunker fuel prices fared in week 20.

  • How Rising Crude Oil Prices Could Affect Boeing’s Order Book
    Market Realist9 hours ago

    How Rising Crude Oil Prices Could Affect Boeing’s Order Book

    On May 22, crude oil (DBO) rose towards $80.0 per barrel. The surge in the price was due to concerns over dwindling Venezuelan crude output as well as a potential fall in Iranian exports. The deal among the OPEC (Organization of the Petroleum Exporting Countries) and Russia to trim oil supply coupled with a solid global demand has fueled the recent oil price rally.

  • Oilprice.com9 hours ago

    Oil Slides As Saudis, Russia Consider 1 Million Bpd Output Boost

    Oil prices fell on Friday morning after Saudi Arabia and Russia said that they are discussing lifting their output quota by 1 million barrels per day

  • Forbes9 hours ago

    Oil Prices Plummet After Saudi Arabia And Russia Signal Intent To Raise Production

    The outcome, according to Saudi minister al-Falih, would be to gradually bring more barrels of oil to the market from OPEC and non-OPEC countries currently participating in the OPEC/Non-OPEC production cut deal. Al-Falih signaled that this could be up to 1 million barrels per day and could begin in the second half of 2018.

  • Gasoline Inventories Pressure Gasoline and Oil Prices
    Market Realist11 hours ago

    Gasoline Inventories Pressure Gasoline and Oil Prices

    On May 23, the EIA released its weekly gasoline inventory data. The EIA reported that US gasoline inventories increased by 1.9 MMbbls (million barrels) to 233.9 MMbbls on May 11–18. However, the inventories have fallen by 5.9 MMbbls or 2.5% YoY (year-over-year).

  • Record US Crude Oil Production Weighs on Oil Prices
    Market Realist11 hours ago

    Record US Crude Oil Production Weighs on Oil Prices

    On May 23, the EIA released its weekly US crude oil production data. The EIA reported that US crude oil production increased by 2,000 bpd (barrels per day) to a record high of 10,725,000 bpd on May 11–18. The production also increased by 1,405,000 bpd or ~15.1% year-over-year.

  • Surprise Build in US Crude Oil Inventories Pressured Oil Prices
    Market Realist11 hours ago

    Surprise Build in US Crude Oil Inventories Pressured Oil Prices

    On May 23, the EIA released its crude oil inventory report. The EIA reported that US crude oil inventories increased by ~5.8 MMbbls to 438.1 MMbbls on May 11–18. However, the inventories declined by 78.2 MMbbls or ~15% YoY (year-over-year).

  • US Crude Oil Exports Fell from a Record Level
    Market Realist11 hours ago

    US Crude Oil Exports Fell from a Record Level

    According to the EIA, US crude oil exports decreased by 818,000 bpd (barrels per day) to 1,748,000 bpd on May 11–18. However, exports increased by 1,123,000 bpd or ~180% year-over-year.

  • Zacks Industry Outlook Highlights: HSBC, Arch Coal and Peabody
    Zacks12 hours ago

    Zacks Industry Outlook Highlights: HSBC, Arch Coal and Peabody

    Zacks Industry Outlook Highlights: HSBC, Arch Coal and Peabody