|Day's Range||52.60 - 52.75|
On April 24, the API released its gasoline and distillate inventory data. The API reported that US gasoline inventories decreased by 2.7 MMbbls (million barrels) on April 13–20. Market surveys estimate that US gasoline inventories could have declined by ~0.6 MMbbls during the same period.
June WTI crude oil futures contracts fell 0.04% from the previous settlement and were trading at $67.67 per barrel at 2:10 AM EST on April 25.
Oil futures bounced back Wednesday from earlier weakness that was driven by data showing an unexpectedly weekly climb in U.S. crude supplies. Since prices for U.S. benchmark crude hit new multi-year highs ...
The World Bank remains bullish on commodities and expects oil prices to average $65 this year, driven by strong demand and OPEC cuts
U.S. crude rose on Wednesday, shrugging off data showing rising domestic fuel inventories and production, and both U.S. crude and Brent held within sight of three-year highs reached the previous day. A rise in U.S. government borrowing costs to their highest since 2013 this week has tempered some investor appetite for risk, but analysts said Brent crude futures, the global benchmark, may yet rise toward new 2018 peaks above $75 a barrel. Brent was down just 26 cents at $73.60 by 10:55 EDT (1555 GMT), just 2 percent below the November 2014 high of $75.47 reached on Tuesday.
Oil prices fell after government data out Wednesday showed a surprise increase in U.S. crude supplies last week as production hit fresh highs.
April 25 (Reuters) - Xinjiang Zhundong Petroleum Technology Co Ltd: * SAYS IT APPLIES TO WITHDRAW DELISTING RISK WARNING AS IT RETURNED TO NET PROFIT IN 2017 Source text in Chinese: https://bit.ly/2qWdHnR ...
Crude oil production in the Permian has broken record after record and experts now believe that the basin could very well become the largest oil patch in the world
Between April 16 and April 23, Halliburton (HAL) stock’s price correlation with crude oil was 0.99, showing that Halliburton and crude oil prices have been strongly correlated in the past week. Meanwhile, Halliburton’s correlation with the VanEck Vectors Oil Services ETF (OIH), which comprises 25 oilfield equipment and service stocks, was 0.95.
Schlumberger’s (SLB) correlation with crude oil was strong between April 13 to April 20, at 0.52, implying that the stock closely tracked crude oil. During the same time, Schlumberger’s correlation with the VanEck Vectors Oil Services ETF (OIH), which represents the oilfield equipment and service industry, was 0.91. SLB’s correlation with crude oil and its implications
Marathon Petroleum (MPC) has seen a rise in its short interest as a percentage of outstanding shares, from 1.5% in mid-February to the current level of 2.0%. This rise implies that bearish sentiment in the stock has increased. Over the same period, Marathon Petroleum stock has risen 16.0%.
* Market previously declined for two consecutive sessions * Malaysia April 1-25 exports down 0.8-2.5 pct - AmSpec Malaysia, SGS * Palm prices seen under pressure ahead of data releases - trader (Updates ...
Tullow Oil's (TLW.L) finance chief raised the prospect that the Africa-focused producer may resume its dividend, which it froze in 2015 due to the oil price crash. "This year we'll be maximising cash flow with a focus on strengthening the balance sheet.. and with our continued performance over the year that allows us to consider return to the shareholders," Chief Financial Officer Les Wood told Reuters. Tullow swung back into profit in 2017 after three years in the red.
Crude oil markets were very choppy during training on Tuesday, as we continue to grind overall. Ultimately, the market is testing the highs again, and that of course comes into play, but I think that we will continue to see a lot of headline risk when it comes to the crude oil markets.
KUALA LUMPUR, April 25 (Reuters) - Exports of Malaysian palm oil products during April 1 to 25 fell 0.8 percent to 1,157,020 tonnes from 1,165,833 tonnes shipped during March 1 to 25, inspection company ...
Higher oil prices are likely to send U.S. oil stocks soaring this year, with earnings and profits on track to be the highest in over a decade
Investing.com - Crude oil prices settled sharply lower on Tuesday as Trump hinted that the U.S. and France were nearing an agreement to preserve the Iran nuclear deal.
Saudi Arabia is aiming to push oil prices well above $70 per barrel, and it seems that the Kingdom may get its wish as demand continues to soar
The American Petroleum Institute reported Tuesday that U.S. crude supplies rose 1.1 million barrels for the week ended April 20, according to sources. The API data showed a decline of 2.7 million barrels in gasoline stockpiles, while inventories of distillates fell by 1.9 million barrels, sources said. Supply data from the Energy Information Administration will be released Wednesday morning.