|Day's Range||50.03 - 50.58|
Iraq said on Saturday it was increasing oil exports from the southern Basra region by 200,000 barrels per day to make up for a shortfall from the northern Kirkuk fields. The output from Kirkuk fell this week when Iraqi forces took back control of oilfields from Kurdish fighters who had been there since 2014.
The global oil market is improving and stabilizing, Saudi Oil Minister Khalid al-Falih said in Baghdad on Saturday. In a speech at the opening of the Baghdad International Exhibition, Falih praised the cooperation between Iraq and Saudi Arabia, which he said, contributed to "the improvement and stability we are seeing in the oil market".
December Comex High Grade Copper futures settled slightly lower on Friday after giving back earlier gains. Despite four straight losing sessions after a spike into a three-year high on Monday, the market still managed to post a solid gain for the week. Strong hedge fund buying drove copper prices into $3.2595 on October 16, but … Continue reading Comex High Grade Copper Price Futures (HG) Technical Analysis – Likely to Test $3.0930 to $3.0535 Value Zone
WTI Crude Oil The WTI Crude Oil market initially dipped during the week, but then reached towards the $52.50 level above. This is an area that has been resistive in the past, so if we were to break above there, more specifically close above there on a daily timeframe, it’s likely that we would continue … Continue reading Crude Oil forecast for the week of October 23, 2017, Technical Analysis
Investing.com – Crude oil prices settled higher on Friday as political tensions in the Kurdistan region continued to disrupt crude supplies offsetting signs of wavering U.S. demand.
Crude oil prices rebounded on Friday, after initially testing lower levels. This week the EIA reported a larger than expected draw in inventories, but the rising dollar weighed on prices. OPEC has been moving inventories back into balance, and with distillate stocks in the United States near the bottom end of the 5-year range, prices … Continue reading Crude Oil Price Analysis for October 23, 2017
Categories: Yahoo FinanceGet free summary analysis Our analysis is based on comparing Rosneft Oil Co. with the following peers – Eni S.p.A., Exxon Mobil Corporation, Canadian Natural Resources Limited and Cimarex Energy Co. (EIPAF-US, XOM-US, CNQ-US and XEC-US). Dividend Quality Overview Over the last twelve months (prior to June 30, 2017), OJSCY-US paid a low quality dividend, ... Read more (Read more...)
Royal Dutch Shell's Nigeria subsidiary says it has lifted the force majeure imposed on Bonny Light crude oil exports a month ago. Company spokesman Joseph Obari says the force majeure was lifted Thursday. ...
On October 17, 2017, Anadarko Petroleum’s (APC) short interest as a percentage of float was ~2.21%. On January 3, 2017, it was ~2.24%.
At 7:20 AM EST on October 20, the WTI crude oil futures contracts for November 2017 delivery were trading at $50.81 per barrel—a fall of ~0.94%.
Coal is the dirtiest of fossil fuels—it produces per kilogram the least amount of energy and the greatest amount of pollution—and the world is quickly abandoning it. According to findings published by the NGOs Greenpeace and CoalSwarm on Wednesday (Oct. 18), countries are using coal less and less to generate electricity, and hundreds of companies…
Investing.com - Crude oil prices rose on Friday, recovering from the previous session's sharp losses as optimism over the tightening of the market persisted.
* Palm up tracking gains in rival oils- trader * Cargo surveyor data showing strong exports helps * Palm may gain more to 2,742 rgt/tonne - technicals (Updates with prices and quotes from traders) By Tavleen ...
Indian Oil Corp, the country's top refinery, has delayed maintenance shutdown at its 300,000 barrels per day (bpd) Paradip refinery in eastern Odisha state to March-April, a company spokesman said on Friday. IOC had earlier planned to shut the refinery for 20 days this month. "Due to a major job at the hydrogen unit, the refinery will be shut for about 45 days in March-April, when we will carry out maintenance at other units as well," he said, adding that the shutdown has been deferred to meet local fuel demand.
Oct 20 (Reuters) - Tsh Resources Bhd * September Crude Palm Oil production 10,483 mt; September Palm Kernel production 2,806mt Source: ( http://bit.ly/2ioxT0o ) Further company coverage:
Oct 20 (Reuters) - Riverview Rubber Estates Bhd * Sept group fresh fruit bunches of oil palms production 6,138.51 metric tons Source text for Eikon: Further company coverage:
DUESSELDORF, Germany (Reuters) - RWE (RWEG.DE) is casting its eye over rival energy utility Uniper's gas and coal-fired power plants in Germany, the Benelux countries and in Britain, a person familiar ...
Troubled commodities trader Noble Group pulled its share from the Singapore market on Friday amid speculation that Vitol may be poised to snap up its global oil liquids business in a $1bn (£760m) swoop. The eleventh hour deal is sorely needed by the struggling trader which faces looming debt repayments by the end of this week which could plunge the company into financial ruin unless Noble can sell off assets to meet its repayments. Noble halted trading of its shares, which have tumbled almost 75pc this year, ahead of an undisclosed “major transaction”, which reports suggest could be a $1bn deal to offload its oil trading business to Vitol, the largest independent oil trading house in the world. According to the Reuters news agency the deal may be announced as soon as Monday. Earlier in the week Vitol boss said his company has “been talking” with Noble to buy the unit but added that the talks are “very complicated”. Noble was plunged into crisis in the wake of the oil market downturn which crushed earnings for the group leading to a shock loss of $1.75bn within the first quarter of this financial year alone. The company has already warned of the risk of bankruptcy at two of its major subsidiaries in accounts filed in recent weeks in the UK and Singapore. In a bid to save the group Noble’s management has aggressively sold off trading portfolios and cut staff numbers to stem the hemorrhaging of its balance sheet. Noble, which ships raw materials such as oil, gas, metals and minerals to high-growth markets in Asia and the Middle East, sold its US gas and power business to its rival, Swiss trading house Mercuria, for $248m. It also cut its staff from 800 to 400. Should the oil unit be sold, Noble Group will be left with a largely Asian portfolio, including marketing rights to Indonesian coal, LNG trading, and stakes in Australian and Mongolian coal mines. It also has an alumina refinery in Jamaica. Among the oil unit’s businesses is a contract for shipping via the Colonial pipeline, the biggest conduit for moving fuel from the US refining centres of Texas and Louisiana to high-demand East Coast markets. Neither Noble or Vitol commented on the deal speculation.
Investing.com - Gold prices drifted lower in Asia on Friday with support from physical demand during India's festive season failing to aid sentiment and political risk on the back burner.
When OPEC agreed to exempt Nigeria from its oil production-restraint deal last year, it knew the country faced a huge challenge in recouping output lost due to militant unrest. As tensions subside and the country pumps closer to normal levels, another dilemma looms for the producer group as it continues efforts to eradicate a price-sapping oil glut - how to count Nigeria's crude output without mixing in condensates. The answer could determine when – and indeed if ever – Nigeria has to cut or curtail oil production, its key source of foreign currency.
It expects two more bad loans from offshore support firms in H2. UOB is still bearing pressure from the oil and gas (O&G) sector as it expects at most two more non-performing loans (NPL) from offshore support firms in H2. UOB Kay Hian said the new NPLs are from companies that have withstood the onslaught of depressed prices for crude oil over the past three years.
Investing.com – Gold prices rose on the Thursday as an uptick in political uncertainty in Spain weighed on risk sentiment while ongoing dollar weakness added to upside momentum in the precious metal.