CLN13.NYM -

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  • Oil Prices Could Rise As Persian Gulf Becomes ‘Danger Zone’ For Tankers
    Oilprice.com1 hour ago

    Oil Prices Could Rise As Persian Gulf Becomes ‘Danger Zone’ For Tankers

    The rising risk for oil tankers in the Persian Gulf could lead to higher insurance premiums and higher crude prices in the short term

  • Oilprice.com2 hours ago

    Saudi Arabia Scrambles To Calm Oil Markets

    Saudi Arabia stated that it will do everything in its power to prevent war in the increasingly volatile Middle East

  • Saudi Aramco to buy liquid natural gas from US company
    Associated Press3 hours ago

    Saudi Aramco to buy liquid natural gas from US company

    Saudi Arabia's state owned oil company will begin buying liquid natural gas from a U.S. company under a 20 year agreement, reflecting the shifting dynamics in the world's energy markets. Saudi Arabian Oil Co., also known as Aramco, said Wednesday it would buy 5 million tons of liquid natural gas per year from Sempra Energy, based in San Diego. Aramco also will make a 25% equity investment in an LNG export facility under development in Port Arthur, Texas, as part of the deal.

  • MarketWatch5 hours ago

    U.S. oil prices finish with a loss of nearly 3% as U.S. crude stocks rise

    Oil futures dropped Wednesday, with U.S. prices settling at their lowest in a week and half, after the Energy Information Administration reported an unexpected weekly climb in U.S. crude inventories, the second weekly rise in a row. "A surprise buildup of 4.7 million barrels of crude and 3.7 million barrels of gasoline pushed prices down," said Alfonso Esparza, senior market analyst at Oanda. "Middle East tensions and the ongoing [OPEC-led] crude output cut deal have kept prices in a higher range, but higher U.S. production keeps putting downward pressure on prices." July WTI oil fell by $1.71, or 2.7%, to settle at $61.42 a barrel on the New York Mercantile Exchange. That was the lowest front-month contract finish since May 13 and biggest one-day dollar and percentage loss in nearly three weeks, FactSet data show.

  • Reuters5 hours ago

    India's crude oil imports jump 14% in April to 6-month peak

    Crude oil imports into the world's third-largest consumer rose 14% in April from a year earlier to 19.72 million tonnes, the highest since October 2018, when imports were at a seven-year high of about 21 million tonnes. April crude imports were also up 2% from March's 19.32 million tonnes, despite a decline in oil imports from Iran after Washington told buyers to end Iranian oil purchases from May or face sanctions. India's oil imports from Iran had fallen about 57 percent year-on-year in April, according to tanker arrival data seen by Reuters.

  • Marathon Petroleum Is Expected to Post the Largest Gains
    Market Realist7 hours ago

    Marathon Petroleum Is Expected to Post the Largest Gains

    Which Refining Stocks Could Post More Gains?(Continued from Prior Part)Marathon Petroleum’s implied gainsMarathon Petroleum (MPC) is a US refiner with refining and marketing, midstream, and retail segments. The company is ranked first among the

  • Reuters8 hours ago

    U.S. crude stocks highest since July 2017 on weak refining demand -EIA

    U.S. crude oil inventories rose unexpectedly last week, hitting their highest levels since July 2017, due to weak refinery output, particularly in the Midwest, the Energy Information Administration said on Wednesday. Crude inventories rose 4.7 million barrels in the week ended May 17, compared with analysts' expectations for a decrease of 599,000 barrels. In particular, refining usage in the Midwest fell to its lowest levels in May since 2013.

  • Oilprice.com9 hours ago

    Bearish EIA Data Sends Oil Lower

    Oil fell on Wednesday morning, following a rather bearish inventory report from the EIA

  • Guyana Probes Offshore Oil Leases Controlled by Exxon, Tullow
    Bloomberg9 hours ago

    Guyana Probes Offshore Oil Leases Controlled by Exxon, Tullow

    The probe is broad in scope and is at an early “investigatory stage,” Clive Thomas, director of the the State Assets Recovery Agency, said in an interview in the seaside capital of Georgetown last week. The Stabroek, Kaieteur and Canje blocks, all operated by Exxon, will be part of the inquiry, as well as Orinduik operated by Tullow, he said. The investigation pits the administration of President David Granger against the previous government headed by Donald Ramotar, who left office in 2015.

  • Oil Prices: Will the Risk Premium Evaporate?
    Market Realist11 hours ago

    Oil Prices: Will the Risk Premium Evaporate?

    Oil Prices: Will the Risk Premium Evaporate?Oil prices and broader market divergedOn May 21, US crude oil July futures fell 0.1% and settled at $63.13 per barrel despite a 0.8% gain in the S&P 500 Index (SPY). Based on the API’s data on May

  • Reuters11 hours ago

    U.S. natural gas prices turn negative in Texas Permian shale again

    Next-day natural gas prices at the Waha hub in the Permian basin in West Texas fell below zero for the first time since early April. The last time Waha traded below zero was April 3 when it averaged a record low minus $4.28, according to data from Refinitiv. On the Intercontinental Exchange, meanwhile, Waha has been trading below zero all week.

  • In coal phase-out, Germany pledges billions to mining regions
    AFP12 hours ago

    In coal phase-out, Germany pledges billions to mining regions

    As Germany plans to shutter its coal sector, the government pledged Wednesday to pour 40 billion euros ($45 billion) into mining regions over the coming years to stimulate growth and jobs. While Germany now meets one third of its electricity needs with clean renewables such as wind, solar and biogas, it produces another third with coal, a climate killer with huge CO2 emissions. The coal phase-out has however stoked anger against Chancellor Angela Merkel's government in mining regions where the industry accounts for tens of thousands of jobs.

  • USD/CAD Daily Forecast – Loonie Spurts Down Ahead of CAD Retail Sales & FOMC Minutes
    FX Empire13 hours ago

    USD/CAD Daily Forecast – Loonie Spurts Down Ahead of CAD Retail Sales & FOMC Minutes

    Crude Prices fall to near $62.35 bbl as OPEC+ members cast contrasting comments over Oil production. Sinking USD Index drags down the Loonie to 10-days low.

  • Investing.com13 hours ago

    Crude Inventories Post Surprise 4.7M Barrel Rise; Oil Down 2%

    Investing.com - U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) rose by 4.7 million barrels last week, versus expectations for a decline of nearly 600,000 barrels, the Energy Information Administration said Wednesday.

  • Gold feels the Dollar pressure
    FX Empire15 hours ago

    Gold feels the Dollar pressure

    Current situation does not look good for the demand and in my opinion, the price of this precious metal can go significantly lower.

  • Dreams of Comoros oil boom hang on seismic survey
    AFP20 hours ago

    Dreams of Comoros oil boom hang on seismic survey

    For years, the Comoros islands off the east coast of Africa have dreamt of an oil or gas strike -- now the first planned seismic survey could reveal if the poverty-stricken nation's hopes are about to come true. The possibility of a lucrative resources boom has gripped Comoros for seven years after then-president Ikililou Dhoinine awarded a batch of offshore oil and gas exploration permits. The arrival last year of Tullow Oil changed the game, as the British company boosts a strong record striking deposits in Ghana, Uganda and Kenya.

  • Rigzone.com23 hours ago

    Oil Heads for Biggest Drop in 2 Weeks

    Oil headed for its biggest drop in two weeks as signs the worsening U.S.-China trade war will take a toll on global economic growth overshadowed the prospect of OPEC+ extending output curbs.

  • Oilprice.comyesterday

    The Fear Driven Oil Price Rally Won’t Last

    Oil prices have risen on tensions in the Middle East, but the geopolitical risk premium in oil markets might not last

  • Oil & Gas Stock Roundup: Equinor's GoM Boost, Schlumberger's Asset Sale & More
    Zacksyesterday

    Oil & Gas Stock Roundup: Equinor's GoM Boost, Schlumberger's Asset Sale & More

    Norway's Equinor (EQNR) acquired an additional 22.45% stake in GoM's Caesar Tonga oilfield, while energy services behemoth Schlumberger (SLB) sold several drilling assets for $400 million.

  • MarketWatchyesterday

    Oil prices down as API data reportedly show an unexpected weekly climb in U.S. crude supply

    The American Petroleum Institute reported late Tuesday that U.S. crude supplies rose by 2.4 million barrels for the week ended May 17, according to sources. The API also reportedly showed a stockpile increase of 350,000 barrels in gasoline, but distillate supplies fell by 237,000 million barrels. Inventory data from the Energy Information Administration will be released Wednesday. The EIA data are expected to show crude inventories declined by 2 million barrels last week, according to a survey of analysts conducted by S&P Global Platts. It also forecast a supply climb of 1 million barrels for gasoline and a decline of 1 million barrels for distillates. July West Texas Intermediate crude was at $62.99 a barrel in electronic trading, down from the contract's $63.13 settlement on the New York Mercantile Exchange.

  • Forex Daily Recap – RBA Minutes Hinted for a Rate Cut Triggering Heavy Selling in the Aussie Pair
    FX Empireyesterday

    Forex Daily Recap – RBA Minutes Hinted for a Rate Cut Triggering Heavy Selling in the Aussie Pair

    Crude Oil WTI Futures continued to climb the ladder amid OPEC-led supply cut fears. PM May stated that she will give MPs last chance to back her “new improvised deal”. EUR/USD pair uplifted on USD plunge.

  • E-mini S&P 500 Index (ES) Futures Technical Analysis – Caught Between 50% Levels at 2844.00 and 2880.50
    FX Empireyesterday

    E-mini S&P 500 Index (ES) Futures Technical Analysis – Caught Between 50% Levels at 2844.00 and 2880.50

    Based on the earlier price action, the direction of the June E-mini S&P 500 Index into the close is likely to be determined by trader reaction to the downtrending Gann angle at 2849.25. Currently, the market is trading on the bullish side of this angle.

  • How to Invest in Shipping Stocks
    Motley Foolyesterday

    How to Invest in Shipping Stocks

    A deep dive into the marine shipping industry.

  • Crude Oil Price Forecast – Crude oil markets continue to struggle at resistance
    FX Empireyesterday

    Crude Oil Price Forecast – Crude oil markets continue to struggle at resistance

    Crude oil markets tried to rally during the trading session on Tuesday, but it is looking very likely that we are going to continue to see a lot of selling just above. If that’s going to be the case we may be trying to carve out another short-term range.