The extended slump in oil prices is spurring one Houston-based law firm to shut its doors. But the closure is unlikely to spell doomsday for big law firms that raced to Houston in recent years to grab oil and gas work.
Submitted by Ryan Opsal via OilPrice.com, With over 1.6 million internally displaced in South Sudan, and another 600,000 refugees in neighboring countries, are oil price declines exacerbating humanitarian crises in oil-producing African...Show More Summary
Saudi Arabia is under pressure to break its currency peg with the dollar. The inflexible riyal means Saudi can’t devalue to offset weak oil prices. But given Riyadh’s huge forex reserves, the risks of moving to a floating currency still outweigh the rewards.
Oil prices drift lower in muted trading conditions amid the Thanksgiving Day holiday.
Britain's oil and gas industry is in a crisis as dwindling production and low prices are killing off company profits and jobs in the process. In fact, things are so bad that the number of jobs has fallen at its fastest rate since 2004,...Show More Summary
Crimea oil traders have pledged to freeze fuel prices and create special reserves amid electricity shortages in the region resulting from the downing of several transmission towers.
Crude clings to gains as traders eye mixed updates on oversupply situation.
Submitted by Michael McDonald via OilPrice.com, What do you do when all of the low hanging fruit is gone? That question is one that oil producers are increasingly facing as they confront an oil price slump that is now more than a year old and shows no serious signs of abating. Show More Summary
The drawback of low oil prices on business spending is over, according to one economist. The durable goods orders report for October, released on Wednesday, showed that " core" capital goods orders, which exclude volatile aircraft and...Show More Summary
In Williston housing developers – people and companies who have built apartment buildings and hotels and single-family homes – have overbuilt the market. With oil prices in the tank, and workers leaving oil patch communities, they’re finding it hard to fill what they’ve built. As a short term solution, they’ve decided to kneecap the competition....
This organic cold-pressed, unrefined coconut oil is less than half the price of Trader Joe's coconut oil (and probably one third the price of coconut oil sold at Whole Foods). I have a subscribe-and-save order for it on Amazon so the price is $13.59 for a 54 ounce jar. Show More Summary
What do we have to be thankful for? We should be very thankful that even a horrific terror attack on a major Western city becomes yet another reason to rally the markets. Oil prices shot up 5% yesterday but we rallied just as hard as...Show More Summary
Asia's fuel oil crack for benchmark 180-centistroke rebounded to a discount of $6.79 a barrel on Wednesday, gaining as bunker prices firmed on the possibility of
Saudi Arabia has overtaken Russia to become the world's largest oil producer, even as it urges others to support the stabilization of prices.
By Shinichi Saoshiro TOKYO (Reuters) - Asian stocks were mixed in early trading on Wednesday as investors assessed the geopolitical risk surrounding Turkey's downing of a Russian fighter jet, while crude oil prices eased from two-week highs. Show More Summary
Richard Drew/AP By Sinead CarewNEW YORK -- U.S. shares closed higher Tuesday as energy stocks rose along with oil prices after Turkey shot down a Russian warplane near the Syrian border.The three major U.S. indexes recovered from a morning sell-off that was triggered by the overseas news despite some strong U.S. Show More Summary
Rising geopolitical tensions see traders push crude prices sharply higher.
The ever-changing oil industry is currently facing a downturn, as the price of oil per barrel has been cut roughly in half since June 2014, the lowest since the economic recession in 2009. Over the last decade, oil prices were normally around $90 or $100 per barrel. Show More Summary
By Mikael Holter (Bloomberg) — Seadrill Ltd., the offshore driller controlled by billionaire John Fredriksen, reported its first quarterly loss since 2011 as a collapse in oil prices reduced demand for its rigs. The net loss of $1.83 billion came after the Hamilton, Bermuda-based company booked $1.8 billion in non-cash impairment charges to investments and […] .
Turmoil on the Syria border is prompting knee-jerk gains for beaten down commodities oil and gold. The SPDR Gold Shares (GLD) added 0.7% in recent trading, while the United States Oil Fund (USO) rose 3%. Gold prices moved higher from multi-year lows, while oil rebounded from a three-month low. Read More »