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* Market down for a third consecutive session * Palm oil may fall to 2,110 rgt/T - Technicals By Emily Chow KUALA LUMPUR, March 26 (Reuters) - Malaysian palm oil futures fell for a third consecutive session ...
Oil prices edged up on Tuesday, lifted by supply cuts led by producer club OPEC and U.S. sanctions against Iran and Venezuela, but signs of a sharp economic slowdown and potentially even a recession kept markets from rising further. U.S. West Texas Intermediate (WTI) futures were at $59.26 per barrel, up 44 cents, or 0.8 percent, from their last settlement. Oil prices have been supported for much of 2019 by efforts by the Organization of the Petroleum Exporting Countries (OPEC) and non-affiliated allies like Russia, who have pledged to withhold around 1.2 million barrels per day (bpd) of supply this year to prop up markets.
Driving his pick-up truck through the heartland of the Permian basin -- the vast tract of west Texas scrub where one of history’s greatest oil booms means miles-long traffic jams -- Vega says there’s more crude being pumped than America’s refineries can absorb. Several ventures are aiming to build new facilities to allow exports via supertankers, which need deepwater ports.
Saudi Arabian policymakers have already made clear that the oil kingdom will do whatever it takes to rebalance oil markets, but now sources also specify an exact price level
Southwest Airlines (NYSE: LUV), incorporated in 1967, has been one of the most profitable and best-performing airlines in the United States for decades. Southwest has maintained a consistent Investment Grade credit rating from all three ratings agencies, which is rare among airlines. The idea was that by locking in prices for its largest variable cost, Southwest could protect itself against upward volatility in fuel.
Dovish crude oil prices undermines Loonie but subdued momentum in US Greenback resulted in range bound price action.
The ethanol industry saw some good and bad news in recent days as a new rule allows for 15% ethanol blends to be sold year-round, but waivers to refineries limit the demand
A weekly look at what occurred in the oil markets of the U.S. and the world this past week. The U.S. Department of Energy (DOE) diesel price, which serves as the basis for fuel surcharges, has gone into significant periods of slumber this year, giving both shippers and carriers a period of relative stability that can be unusual in volatile oil markets. Since the CME price of ULSD settled at more than $2/gallon (g) for the first time this year on February 15, the daily CME settlement has moved back and forth over that price numerous times before the Friday slide in all markets pulled the settlement down to $1.9659/gallon.
What Impacted the Energy Sector Last Week?US crude oil last week On March 15–22, US crude oil May futures rose 0.4% and closed at $59.04 per barrel. Last week, the contraction in Germany’s PMI index increased concerns about a global economic
Energy Sector: Analyzing Key Events This Week(Continued from Prior Part)US crude oil prices On March 25, at 6:44 AM EST, US crude oil prices have fallen by 6 cents since the close last week. However, growing concerns about a recession might drag oil
LCF lent £40 million to North Sea explorer Independent Oil and Gas via a company called London Oil & Gas, which has recently collapsed. Administrators to the two bust companies, Smith & Williamson, are hoping to recoup that loan to return money to LCF’s bondholders. RockRose Energy bid for the whole of Independent Oil & Gas on March 5 but had its offer rebuffed.
* Palm sees sharpest daily decline in over a week * Market weighed by rising production outlook - trader * Palm oil may test support at 2,142 rgt/T (Updates with closing prices) By Emily Chow KUALA LUMPUR, ...
U.S. sanctions on Venezuela's oil industry have made winners out of Royal Dutch Shell Plc and BP Plc, Gulf of Mexico offshore heavyweights, as refiners in need of substitutes are scooping up oil produced in the region. Trading volumes in these grades of oil have surged to the highest in months, and prices touched five-year peaks after sanctions were imposed.
Malaysian palm oil futures fell to their lowest in three days on Monday tracking weaker related edible oils, and were on track for a second day of drop after five sessions of gains. The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange fell 1.5 percent to 2,134 ringgit ($524.58) a tonne at the midday break, its sharpest decline since March 4. It earlier fell to a three-day low of 2,133 ringgit.
Just-in-time supply of natural gas in the U.S. could have an impact on pricing structure going forward as producers rely more on additional wellhead production than storage
Norway’s decision to sell off a large part of its wealth fund’ oil & gas holdings sends a strong message to US and Canadian shale drillers
Asia's top refiner China Petroleum & Chemical Corp (Sinopec) boosted spending on exploration and production by 41 percent last year as crude oil reserves tumbled at its biggest oilfield. Sinopec's upstream capital expenditure rose to 59.6 billion yuan ($8.9 billion), its highest since 2014, as the company prepares to ramp up exploration at the Shengli oilfield and shale gas blocks in the southwestern Sichuan province. The jump in spending was partially in response to Beijing's call for energy security, while untapped proven crude reserve from Shengli fell to 16 million barrels by the end of 2018 from 49 million barrels in 2017.
While Total’s new offshore gas discovery could be promising for South Africa’s economy, not everyone is counting their profits just yet
Bitcoin (BTC) is up 0.31 percent over the past 24 hours, and is trading at around $4,045 at press time. In terms of a weekly view, Bitcoin has gained around 1.9 percent, while in terms of the month BTC has increased by just one percent. The altcoin’s market capitalization is around $14.5 billion, while its circulating supply is around 105 million to press time.
NEW YORK, March 22- Oil fell about 2 percent on Friday, slipping further from 2019 highs as focus shifted to a lack of progress in U.S.- China trade talks and as grim manufacturing data from Germany and the U.S. reignited fears of a slowdown in the global economy and oil demand. Wall Street's main indexes tumbled between 1 and 2 percent on Friday after manufacturers...
Even as America grabbles with its love-hate relationship with fossil fuels, the ongoing fracking revolution that’s turned the U.S. into the leading global oil producer is shoring up the economy — and helping to tame carbon emissions, too.
Where US Crude Oil Could Head by the End of MarchOil’s implied volatility On March 21, US crude oil’s implied volatility was 24.9%, which was 6.7% below its 15-day average. Usually, lower implied volatility supports oil prices. You can see the