By Morag MacKinnon PERTH (Reuters) - U.S. energy giant Chevron sold its entire stake in refiner Caltex Australia Ltd for A$4.7 billion ($3.7 billion) in Asia’s biggest block deal this year, as falling oil prices and high costs hurt margins. Show More Summary
Experts claim that the global price of oil is unlikely to go up amidst the war in Yemen growing more volatile by the day.
Categories: Afternoon Coffee Tags: General News The latest GDP data was released this morning, showing the US economy grew 2.2% during the fourth quarter. And, oil prices seem to be rebounding from their 6-year low hit earlier in March. Afternoon Coffee brings you the latest procurement and supply chain news. (Read more...)
Crude oil exchange-traded products were actively traded Friday heading into the last weekend in March. Oil prices gave up yesterday’s gains as traders took profits and as a deal that would result in removing sanctions on Iranian exports appeared possible. The United States Oil Fund (USO) fell 2.53% after nearly 10.2 million shares changing hands [...]
Crude oil prices have rallied sharply this week on headlines that a coalition of Sunni-ruled nations initiated airstrikes on Yemen against Shiite Houthi rebels. Goldman's Damian Courvalin notes that this rally reversed the sell-off that occurred in part on the rising odds of a deal with Iran being reached. Show More Summary
Crude oil is getting smoked. Near 10:00 a.m. ET, West Texas Intermediate crude was over 3% lower at around $49.87 per barrel. There was no obvious catalyst for the mover lower. A rally Thursday pushed WTI back above $50 as prices rose...Show More Summary
It seems the breather from extortionate fuel prices at the pumps has come to an end, as crude oil prices surge back to $51.32 a barrel across Europe. This comes after Saudi Arabia and its allies launched airstrikes against Houthi rebels, de-stabilizing the middle-eastern sea-lanes. Show More Summary
The proposed sale of the 50 percent stake comes amid falling oil prices and after other global oil companies left Australia’s refining industry.
Monetary policy deputy says falls driven by oil prices, CPI on track to rise 'quite steeply' in early 2016.
Investors still closely watching escalating conflict in Yemen.
China's main offshore oil-and-gas producer posts 6.6% rise in annual profit.
The last few days have been almost the worst for the Saudi Arabian stock market in 4 years. Between low oil prices, a new King's big social welfare budget, and now "war," it appears this year's dead cat bounce from last year's exuberance is dying rather rapidly. Show More Summary
The conflict in Yemen has led to a rise in the price of oil. Why? How long could it last? Learn more about Yemen and its strategic importance in the transportation of oil in this article.
The recent failure to adopt a flat oil production tax in North Dakota may have cost the state a minimum of a billion dollars. Initially shot down and sold as a tax cut to oil producers, the same oil price based system exists using triggers to decrease taxes. Oil producers benefit from a lower tax...
Global crude prices jump amid fears surrounding the escalating crisis in Yemen.
Wall Street closed lower as oil prices rallied on supply fears in the Middle East, while European sharemarkets slipped on valuation concerns surrounding tech stocks.
By Madalina Iacob The record drop in oil prices over the last six months has consumers – and some investors – cheering. Optimists believe that the economy is ripe for a boost as would-be shoppers earmark their extra cash to spend on anything from dining out to apparel. While shopping sprees may [...]
When CSX CEO Michael Ward arrogantly strode onto CNBC six weeks ago and proclaimed, he has "not seen any changes," suggesting everything's fine down to $30-35 oil and "expected no impact on crude shipments," we carefully suggested he was being a little careful with the truth. Show More Summary
With Saudi airstrikes in Yemen stoking fears for the oil-rich region, crude prices are getting a huge boost today and dragging beaten down oil-focused exchange-traded funds along for the ride. The U.S. Oil Fund (USO), which holds about 60,000 crude oil futures contracts, surged 4.8% to $18.20 with more than 33 million shares changing hands, [...]