Entries by HuntleyAndrews

BIG OIL IS SOWING SEEDS FOR A “SUPER-SPIKE”’ IN CRUDE PRICES ABOVE $150, BERNSTEIN WARNS

Tom DiChristopher | @tdichristopher Published 11:16 AM ET Fri, 6 July 2018 Updated 12:15 PM ET Fri, 6 July 2018 CNBC.com Oil prices could top all-time highs as energy companies invest too little money in new production, Bernstein Research warns. The underinvestment could cause a super-spike “potentially much larger than” $150 a barrel. Reinvestment in oil […]

OIL PRICES RISE

JUNE 26TH 2018 by CNBC Oil prices rose on Tuesday, supported by Canadian production losses and uncertainty over Libyan exports. Production problems at one of Canada’s largest oil sands facilities drove front-month U.S. crude to its highest premium above second-month futures since 2014. Eastern Libyan commander Khalifa Haftar’s forces have given control of oil ports […]

OIL PRICES RISE AHEAD OF OPEC MEETING

By Christopher Johnson | LONDON Report: June 20,2018 Oil prices rose on Wednesday, supported by reports of a drop in U.S. commercial crude inventories and the loss of storage capacity in Libya, but under pressure ahead of a meeting of OPEC exporters which may increase global production. Brent crude was up 30 cents at $75.38 […]

UPDATE 8-Oil prices turn positive as U.S. crude inventories fall

Jessica Resnick-Ault Published 11:07 AM ET Wed,14 June 2018 BY: Reuters U.S. stockpiles fall 4.143 million barrels in week- EIA * OPEC, Russia expected to increase output * OPEC and non-OPEC producers meet on June 22-23 in Vienna (New throughout, updates prices, market activity and comments; new byline, changes dateline, previously LONDON) NEW YORK, June […]

GOLDMAN SACHS OIL – PRODUCTION WILL INCREASE IN USA

Goldman Says U.S. Oil Request Won’t Stop Stockpiles Dwindling Published in Oil Industry News on Friday, 8 June 2018 The outlook for oil is still bullish even if OPEC accedes to U.S. pressure to boost supply, Goldman Sachs Group Inc.’s top commodities analyst said. The U.S. government has quietly asked Saudi Arabia and some other producers […]

THE OIL TRADERS TUG-OF-WAR

By: Tsvetana Paraskova June 4th 2018 Despite the recent sell-off, Brent Crude prices continue to be supported by geopolitical events and supply concerns, while the U.S. benchmark WTI Crude has been pressured to the downside by pipeline constraints in the most prolific U.S. shale basin amid record-high American oil production. The discount of WTI Crude […]

TRUMP’S REVENGE: U.S. OIL FLOODS EUROPE, HURTING OPEC AND RUSSIA

By Olga Yagova and Libby George MOSCOW/LONDON (Reuters) – As OPEC’s efforts to balance the oil market bear fruit, U.S. producers are reaping the benefits – and flooding Europe with a record amount of crude. Russia paired with the Organization of the Petroleum Exporting Countries last year in cutting oil output jointly by 1.8 million […]