US crude oil prices retreat amid doubts about further stock draw
U.S. crude oil inventories have depleted faster than normal over the last four weeks – squeezing hedge funds running short positions, keeping spot prices firm and the futures curve in a steep...
View ArticleOil falls 1.5%, ends week lower on China demand fears
Oil futures fell about 1.5% on Friday, finishing the week lower on declining Chinese demand and hopes of a Gaza ceasefire agreement that could ease Middle East tensions and accompanying supply...
View ArticleOil prices rebound from multi-month lows on Mideast tensions
Oil prices bounced back from multi-month lows on Wednesday on concerns that an escalating conflict in the Middle East could hurt oil production, even as worries about weak crude demand persisted. Brent...
View ArticleUS crude stockpiles fall, fuel inventories rise, EIA says
U.S. crude oil stockpiles fell last week, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday. Crude inventories fell by 3.7 million barrels to 429.3...
View ArticleOman sells oil for Aug after Sohar refinery unit shuts unexpectedly
Oman’s Ministry of Energy and Minerals has sold 1 million barrels of crude to load at the end of August in a prompt tender after one of the crude units at the Sohar refinery was unexpectedly shut,...
View ArticleU.S. oil and gas output curbed by lower prices
U.S. oil and gas production show further signs of flattening out or turning down, a delayed response to the decline in prices over the last two years after the initial shock caused by Russia’s invasion...
View ArticleThe Commodities Feed: Gas supply risks build
Energy – European natural gas supply risks grow European natural gas prices surged higher yesterday. TTF front-month futures settled more than 4.8% higher on the day taking prices to their highest...
View ArticleOil prices fall, set to snap two-session streak
Oil prices fell in choppy trade on Thursday, and looked set to snap a two-session streak during which they gained about 3% due to growing supply risks amid simmering tensions in the Middle East. Brent...
View ArticleOil ticks higher on Mid East tensions, supportive US job data
Oil prices ticked higher on Thursday as U.S. job data eased demand concerns and escalating tensions in the Middle East helped prices bounce back for a third straight session, after hitting an...
View ArticleMiddle East Crude-Dubai, Murban premiums rise, Oman falls
The Dubai and Murban crude benchmark premiums rose, while the Oman benchmark premium fell on Thursday. Spot premiums for the three benchmark grades widened significantly, trading in the range of 56-97...
View ArticleUS oil and gas production stalled by low prices, says report
Decreasing oil and gas prices in the US have removed the incentive for companies to increase their output. Instead, companies are beginning to focus on improving the efficiency of their drilling...
View ArticleCiti sees possible bounce in oil prices to low-to-mid-$80s
Oil prices could rise to the low-to-mid-$80’s, bouncing up from a recent sell-off, Citi Research said in a note on Wednesday, citing factors including geopolitical tensions and weather. Fundamentals,...
View ArticleLNG stocks drop 10% on week to 1.92 mil mt, lowest in 16 weeks
Japan’s LNG stocks held by major utilities fell 10.3% on the week to 1.92 million mt as of Aug. 4, the Ministry of Economy, Trade and Industry said Aug. 7, marking the lowest level in 16 weeks. The...
View ArticleUS natural gas producers eye more output cuts as prices sink
Major U.S. natural gas producers are preparing to further curtail production in the second half of 2024, after prices sank nearly 40% over the past two months. Henry Hub gas futures have dropped to...
View ArticleAsia medium sulfur gasoil differential weakens as Indonesia demand tapers
The FOB Singapore 500 ppm sulfur gasoil cash differential has weakened in August as demand from Indonesia tapers following the resumption of operations at state-owned Pertamina’s Balikpapan refinery...
View ArticleThe Commodities Feed: Gas surges
Energy – Henry Hub rises on bullish inventory report The oil market is trading flat with marginal gains this morning following a gradual recovery in the broader financial markets. Market participants...
View ArticleOil set for 3% weekly gain on easing recession concerns, rising Mideast tension
Oil prices edged up in Asian trading on Friday, heading for a weekly gain of more than 3% as U.S. jobs data calmed demand concerns and fears of a widening Middle East conflict persisted. Brent crude...
View ArticlePetrobras posts net loss, cuts CAPEX and approves dividends
Brazilian state-run oil giant Petrobras PETR4.SA on Thursday posted a net loss of 2.6 billion reais ($470 million) for the second quarter of 2024, the firm said as it announced lower-than-expected...
View ArticleOccidental production hits four-year high thanks to Permian, Gulf of Mexico...
US producer Occidental Petroleum hit the company’s highest quarterly onshore production level in four years amid strong performance in the Permian Basin and in the Gulf of Mexico, company executives...
View ArticleOPEC+ produces 437,000 b/d above quota in first month of compensation cuts
OPEC+ crude production in July made its biggest jump in almost a year, as Iraq and Kazakhstan raised their output despite committing to deeper cuts, while Russia also remained well over its quota. The...
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