The world’s energy markets continue to be held down by Saudi Arabia’s death march of overproduction in its bid to strip market share from competition nations and faces a host of potential geopolitical tremors that could send prices into a free-fall.
Oil prices sank on Thursday following fresh data showing oil and product stocks rising to an all-time high. The EIA released its weekly data on July 20, revealing a slight drawdown in crude oil inventories. Crude oil stocks were dow...
The US oil-rig count rose by 14 to 371 this week, a fourth straight week-over-week rise, according to Baker Hughes. This tally has steadily climbed since it bottomed in May, indicating that producers activated rigs as crude prices also...Show More Summary
Even steakhouses are getting hurt by the oil crash. Texas holds some of the richest shale plays in the US, and it has been one of the places most affected by the downturn in crude-oil prices. The Dallas Federal Reserve's monthly manufacturing...Show More Summary
Germany's second largest airline, airberlin, lost almost $500 million last year, which was an increase over their loss the previous year, despite oil prices being as low as they are. Things aren't looking like they'll be improving for...Show More Summary
Plastics recycler Entropex, one of the largest in North America, has closed. The Sarnia, Ontario-based company blamed financial challenges caused by the huge decline in oil prices. Plastics recyclers have been hit hard by the drop in oil prices, which have caused commodity prices to plummet. “Despite our best efforts to reduce costs, the costs […]
By Michael Maher and Anna Mikulska Amidst low oil prices, news about massive layoffs, hundreds of millions of dollars of investment cuts by oil and gas companies, and the Paris climate accord, some observers have voiced skepticism about the future of the oil business. The concerns have been directed particularly at [...]
Submitted by Nick Cunningham via OilPrice.com, In June 2015, oil prices surged to $60 per barrel, raising hopes that the oil price downturn would have been brief and the recovery swift. But by July, oil prices were heading back down,...Show More Summary
TOKYO (Reuters) - Asian shares edged up on Thursday, bolstered by fresh record highs on Wall Street and a recovery in crude oil prices, while the dollar climbed to a six-week peak against the safe-haven yen. Crude gained as much as 1 percent on Wednesday, after U.S. Show More Summary
The West may still hog oil finance, but the country driving demand for crude - and oil prices - lies elsewhere. The post This “Demand Dynamo” Is Where Oil Prices Are Really Set was originally published at The Wall Street Examiner. Follow the money!
Oil prices are a tricky thing to predict. It’s now trading at about $45 a barrel; in February it hit a 12-year low of $26.21. Some say prices have to keep rising; others are predicting another crash. The only thing that’s predictable, it seems, is oil’s unpredictability. That’s the sentiment behind a new Barclay's report. Show More Summary
U.S. crude oil prices have been falling for the past two years and some claim that prices may not change until 2019, when oil production will reach its peak. Ever since the global oil-price collapse, oil has become a lot more affordable for consumers, hitting a two-month low on Wednesday, July 20th. Show More Summary
Russian President Vladimir Putin has urged Prime Minister Dmitry Medvedev to capitalize on recent gains made by the ruble despite the price of oil continuing to drop, the Kremlin reported Tuesday. Russia is in the midst of a recession, following a colossal devaluation of the ruble in 2014 and a drop in the price of oil. Show More Summary
The man who accurately predicted four market crashes to the exact date told Business Insider about his calendar prediction for when oil prices will start to significantly slump again. Sandy Jadeja is a technical analyst and chief market...Show More Summary
Authored by Global Risk Insights via OilPrice.com, The rise in oil prices over the past six months has come as a blessing for the battered U.S. shale producers. Oil prices have risen more than 50 percent since January, giving a glimmer of hope to the U.S. Show More Summary
Submitted by Euan Mearns via The Automatic Earth blog, Back in the mid-noughties the peak oil meme gained significant traction in part due to The Oil Drum blog where I played a prominent role. Sharply rising oil price, OPEC spare capacity...Show More Summary
Although the crude oil price decline since 2014 has led to significant reductions in operating cash flow for U.S. oil companies, their immediate financial situations are improving. As oil companies' spending falls and crude oil prices increase, the need for oil companies to find external sources of funding may decline, which could reduce financial strain in the coming quarters.
By Yashaswini Swamynathan (Reuters) - The S&P 500 and the Nasdaq were set to open lower on Tuesday, following weak results from Netflix, while the Dow was likely to be little changed after J&J's upbeat earnings. Oil prices were fluctuating between gains and losses, adding to the pressure on equities. Show More Summary
By Keith Wallis SINGAPORE (Reuters) - Oil prices eased on Tuesday as concerns over a crude and refined fuel glut outweighed an expected cut in U.S. shale production and a probable further draw in U.S. crude inventories. Crude pricesShow More Summary
Most of the time, Americans are only conscious of oil prices when they visit the gas pump. When prices took a sharp tumble in early 2016, it was good news for drivers. Hey, let’s plan a longer road trip this year! But like most things in life, low oil prices have pros [...]