|Day's Range||60.39 - 61.17|
Analysts see an increase in crude stockpiles when the Energy Dept. reports weekly stockpile and production data Wednesday.
Oil prices continued to rise Wednesday after hitting three-week highs the day before, bolstered by renewed geopolitical risk to global supply.
Investing.com - Crude oil prices were hovering at multi-week highs on Wednesday, as potential supply disruptions due to tensions in the Middle-East continued to support, as well as upbeat U.S. stockpile data.
* Palm charts third straight day of gains * Market also up before zero export tax on CPO period ends -trader (Updates with closing prices, quote) By Liz Lee and Emily Chow KUALA LUMPUR, March 21 (Reuters) ...
The auction of more than 77 million acres (31.2 million hectares) - an area twice the size of Florida - is part of an effort by President Donald Trump's administration to ramp up U.S. fossil fuels production by lowering royalty rates, opening up more public lands, and rolling back environmental protections. The U.S. produces about 1.5 million barrels of oil per day from the Gulf of Mexico, about 15 percent of the national total, according to the Energy Information Administration.
China's state-run national petroleum company has signed a deal worth $1.18 billion for stakes in two oil and natural gas concessions in the United Arab Emirates' capital of Abu Dhabi. The state-owned Abu ...
March 21 (Reuters) - Sarawak Oil Palms Bhd: * FEB FFB PRODUCTION 84,366 MT; FEB CRUDE PALM OIL PRODUCTION 26,328 MT; FEB PALM KERNEL PRODUCTION 5,796 MT Source text :( http://bit.ly/2Gb2Krj ) Further ...
March 21 (Reuters) - Sapura Energy Bhd: * UNIT WINS CONTRACT FROM MUBADALA PETROLEUM FOR PROCUREMENT, CONSTRUCTION & INSTALLATION WORKS FOR PEGAGA DEVELOPMENT PROJECT Source text : ...
The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets. FUNDAMENTALS * Malaysian palm oil futures climbed in Tuesday evening's trade to chart a second ...
Oilfield services provider Baker Hughes GE (BHGE) is on the hunt for smaller oil and gas projects in Asia Pacific to replicate a project in Papua New Guinea where it is providing services and financing, a senior company executive said. The company, formed from the merger of GE's oil and gas services and equipment business and Baker Hughes, is seeing signs of renewed interest in oil and gas projects in the region, driven by smaller firms, Asia-Pacific President Visal Leng said on the sidelines of the OTC Asia conference.
British oil major BP will drill its first deepwater exploration well at a block it operates in the southern Gulf of Mexico during the third quarter of 2020, according to a plan approved Tuesday by Mexican oil regulator CNH. The four-year exploration plan for the block located in the Gulf's Salina Basin is also expected to lead to an investment of $199.5 million (£142.5 million) and add up to 75 million barrels of oil equivalent in reserves, according to the CNH. Norway's Statoil and France's Total are equity partners in the BP-led consortium, which won the development rights to the block in Mexico's first-ever deepwater oil auction in late 2016.
China’s historic oil futures contract is set to launch this week, and while Beijing believes in its success, extreme price volatility could spoil the party
Saudi-Russian relations have improved significantly as a result of the OPEC+ deal, but what could a long-term relationship bring both nations?
Oil prices leapt to a six-week high on hopes that the White House will ramp up the pressure on Iran’s output by reimposing sanctions and offset a surge in US supply that is threatening to tip the fragile balance of the market. Simmering political tensions between Opec members Saudi Arabia and Iran spiked after the Saudi foreign minister Adel al-Jubeir called the US’s nuclear deal with rival Iran “flawed” ahead of President Donald Trump’s meeting with crown prince Mohammad bin Salman in Washington. Oil futures rallied on hopes that strengthening ties between the White House and Riyadh would restrict Iranian crude and counteract rising output from US shale producers. Brent crude rallied as much as 2.7pc to $67.88 per barrel with stronger oil prices helping to kick-start the market’s recovery following Monday’s sharp move lower. Royal Dutch Shell and BP led the FTSE 100 index 18.34 points higher to 7,061.27 while US stocks clawed back lost ground despite social media shares plunging for a second day. FTSE 100 Oilfield services company Wood Group tumbled 43.6p to 597.6p after reporting a $30m (£21m) pre-tax loss following its £2.2bn takeover of Amec Foster Wheeler. North Sea oil producer EnQuest jumped 2p to 33.1p after an acceleration in production at its flagship Kraken oilfield soothed fears over its debt pile. Genel Energy climbed 1.8p to 151.8p, a six-month high, ahead of its full-year figures after RBC Capital Markets handed the Kurdistan-focused oil producer a double upgrade to “outperform”. Its analysts told clients that business in the conflict-hit Kurdistan region in Iraq is beginning to normalise and its shares should be supported by Brent crude holding at around the $65 per barrel mark. Elsewhere, heavily shorted Apple supplier IQE slumped 11.8p to 130.8p after a better-than-expected rise in full-year revenues was soured by a hit from US taxes. RBS advanced 5.9p to 263.5p after boss Ross McEwan said that the bank will quickly restore its dividend once it has resolved a long-awaited multi-billion dollar settlement with the US Department of Justice for mis-selling risky mortgage-backed securities. Cyber security giant Sophos’ slide extended into a second day after analysts at Northern Trust Capital Markets warned that its excessive leverage should be a flashing red light for investors, with traders also blaming its 42.4p slip to 416.6p on Micro Focus’ share price collapse spooking the market. Micro Focus gave up early gains to sink a further 19.6p to 991.4p, while Just Eat’s slide extended into a sixth day, dropping 20.6p to 715p, after Morgan Stanley analysts trimmed their price target for the takeaway delivery giant.
Oil prices continued to rise on Tuesday afternoon after the API reported a surprise draw in both crude and gasoline inventories