Oil Down, Loses Momentum After Reaching High
By Gina Lee Investing.com – Oil prices slid for a second straight day after peaking with a seven-year high at the start of the week, after a jump in U.S. crude inventory was...
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Brent Oil News & Analysis
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Brent falls to two-week low after inventory shock
Oil prices fell on Wednesday for a second straight day, with Brent hitting its lowest in two weeks after official figures showed a surprise jump in U.S. inventories of crude. Brent crude...
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Big Oil’s Exodus From Iraq Is Great News For Russia
Given the mass exodus of major Western oil companies from Iraq in recent months, and no sign of this reversing any time soon, Russia and China are in an even better position to advance their...
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Exxon Is By Far The Best Bet On Guyana’s Offshore Oil Boom
Global energy supermajor ExxonMobil is one of the few Western energy companies to invest in developing Guyana’s burgeoning oil industry. Since making the first high quality oil discovery...
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Crude Oil Price Update – Lower for the Week; Strengthens Over $83.10, Weakens Under $82.10
The direction of the December WTI crude oil market early Thursday is likely to be determined by trader reaction to $82.10.
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Marathon Oil raises dividend by 20%
Marathon Oil (MRO) declares $0.06/share quarterly dividend, 20% increase from prior dividend of $0.05.
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OPEC+ Comfortable With Rising Price Trend
Rejecting calls from consuming countries for faster output increases, OPEC+ has warned about continuing risks posed by the coronavirus pandemic and a forecast rise in oil inventories next...
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Japan Utilities Ask Refiners For Extra Oil Amid Surging LNG Prices
Japanese utilities have asked oil refiners for extra supplies to generate power as they try to switch from expensive liquefied natural gas (LNG), the head of the Petroleum Association of...
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China’s Action Plan For CO2 Cuts To Cap Primary Refining Capacity At 20 Mil B/D By 2025
China is aiming to cap the country’s primary refining capacity at 1 billion mt/year, or 20 million b/d, by 2025 while boosting utilization rates of its refining facilities to above 80%,...
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Charts Suggest Oil Prices May Peak Soon, Cramer Says
Oil may be near its peak if historical patterns hold true, CNBC’s Jim Cramer said Tuesday. The commodity climbed to new multi-year highs Tuesday amid supply shortages and strong demand....
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Gas Crisis Helps To Land BP $500 Million Windfall
BP’s trading team made at least $500 million in the third quarter of 2021, two sources with knowledge of the company’s trading results said, as the energy major benefitted from a gas crisis...
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U.S. consumers expected to spend more for heating oil this upcoming winter
In our latest Winter Fuels Outlook, we expect higher heating oil prices and a slightly colder winter compared with last year will contribute to households across the United States spending...
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U.S. Demand For Oil Surges, Depleting Tanks In Oklahoma
Crude oil tanks at the Cushing, Oklahoma storage hub are more depleted than they have been in the last three years, and prices of further dated oil contracts suggest they will stay lower for...
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Iraq’s Oil Production Averaged 4.15mln Bpd In October, Oil Minister Says
Iraq’s oil production averaged 4.15 million barrels per day (bpd) in October, the oil minister said in a statement on Monday. Source: Reuters (Reporting by Ahmed Rasheed; Editing by Kirsten...
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Activist Investor Sets Sights On Breaking Up Shell
The trend is clear: activist shareholders in the energy industry are making waves. This time, the target is Royal Dutch Shell. Activist investor Dan Loeb, through Third Point LLC, holds a...
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US Production Outlook: Modest Growth Could Be Just Right
By Stacey Morris, CFA Summary Public producers have been committed to capital discipline and limiting growth, which could actually set up a goldilocks US production scenario for midstream in...
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Crude oil, energy stocks slide as U.S. crude supplies rise
The energy sector <<XLE>> sits at the bottom of the S&P sector leaderboard as crude oil prices widened losses
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Oil drops more than 1% as U.S. stockpiles rise sharply
TOKYO (Reuters) – Oil prices fell on Wednesday after industry data showed crude oil stockpiles rose more than expected and fuel inventories unexpectedly increased last week in the United...
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Alaska’s Oil Renaissance Stumbles Despite Rise In Crude Prices
As the United States slowly begins to recover from the economic low-point of the pandemic, some states are getting left behind. Jobs numbers are creeping up around the country, but five...
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U.S. oil futures fall by more than 2%; natural-gas futures end at more than 3-week high
Oil futures settled with a loss of more than 2% on Wednesday after the Energy Information Administration reported a 4.3 million-barrel weekly climb in U.S. crude inventories and amid news...
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Oil slides, gold trading sideways
Oil Crude prices are lower after US stockpiles rose more than expected and after Iran agreed to restart nuclear talks in November. The EIA crude oil inventory report showed a 4.286 million...
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Global Food Prices Set To Soar As The Oil And Gas Crunch Continues
The potential for a knock-on effect of rising fuel prices to be felt by other industries is becoming more likely, as oil and gas prices continue to rise to an all-time high, companies are...
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Japan’s Utilities Look To Switch To Oil As LNG Prices Soar
Oil refiners in Japan have been asked by power-generating firms to provide additional oil supply to utilities, which are struggling to secure liquefied natural gas (LNG) at very high prices....
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Some Energy Companies Have More ESG Traits Than Meet the Eye
Many investors believe that traditional fossil fuels producers shouldn’t reside in environmental, social, and governance (ESG) funds because, well, many investors believe that old guard...
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Crude Oil Price Forecast – Crude Oil Markets Continue to Look Bullish Despite Pull Back
Crude oil markets have pulled back a bit during the trading session on Wednesday, but still remain very bullish overall.
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Pipeline Leak Disrupts Libya’s Oil Exports
Libya’s Es Sider pipeline has a major leak that will require a 7- 10-day shutdown for maintenance, NOC reported on Wednesday. The news comes on the back of Tuesday’s report on skirmishes by...
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Oil declines, gold under pressure
Oil slips after API inventory report The oil price rally has been losing momentum recently after making large gains over the last couple of months and Tuesday’s API inventory data may have...
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Democrats Hope To Expose Big Oil’s Misinformation On Climate
Thursday’s Congressional hearing of top executives from Big Oil companies could be the start of a year-long investigation into whether the world’s largest oil firms have misled the public...
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Crude Build Puts The Brakes On The Oil Price Rally
Crude oil prices retreated today after the Energy Information Administration reported an inventory build of 4.3 million barrels for the week to October 22. This compared with a modest draw...
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Investors Don't Want Exxon, Chevron To Take On Solar, Wind
Many U.S. fund managers who are invested in Exxon and Chevron approve the strategies of the American oil supermajors not to seek growth in wind and solar projects, according to a dozen...
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Microsoft/Alphabet, U.K. Budget, Bank of Canada Meeting - What's Moving Markets
By Peter Nurse Investing.com -- The dominant tech sector is set to power Wall Street higher, with Microsoft (NASDAQ:MSFT) and Google parent Alphabet (NASDAQ:GOOGL) producing more healthy...
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Oil Dips After Buildup in Oil Inventories
By Gina Lee Investing.com – Oil prices fell following larger than expected increases in crude oil stockpiles and fuel inventories in the U.S. Brent oil futures fell 0.76% to $85.01 WTI...
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Brent crude oil price may hit $110 next yr: Goldman
Global financial major Goldman Sachs expects Brent crude oil prices to reach $110-per-barrel by next year, a 30% jump from the current levels of $85/bbl. Oil analysts at Goldman Sachs say...
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