Oil Prices ///
The rivalry between U.S. and Middle Eastern oil producers has jumped up a notch as American crude makes its way right to the heart of Asia, the world’s most-prized energy market.
Profits from turning crude into diesel in the second half of 2019 are forecast to be about 31% higher than the first six months, according to Goldman Sachs. Margins have expanded around 40% since late April as International Maritime Organization rules that prohibit ships from using dirty fuel from Jan. 1 are set to bolster diesel demand, while cutting fuel oil use.
Oil rose for a second day as a drone attack on a Saudi Arabian oil field revived concerns that the tense Middle East political situation may jeopardize crude exports.
Global oil markets face a “somewhat bearish” outlook for the rest of the year amid slowing economic growth and the long-running trade war, even though supplies will be tighter than previously thought, OPEC said.
Oil headed for a weekly increase as hopes that the U.S. and China could resume negotiations to resolve their trade dispute capped a week of volatile trading.
Oil fell for a second day as the U.S.-China trade war escalated against the backdrop of swelling American crude inventories.
The days when energy stocks and the price of oil moved in lockstep are now few and far between. Oil may go up but stocks still fall, and in Canada it’s the worst divergence on record.
Oil declined after its biggest surge in five weeks as an industry report showed American crude stockpiles expanded, paring a rally that was fueled by signs the U.S.-China trade deadlock may be easing.
Crude oil jumped the most since early January as the trade deadlock between the world’s biggest economies showed signs of easing, calming fears that global economic growth would be endangered.
Saudi Aramco showed Monday it’s still the world’s most profitable company -- and paid out almost all its net income in dividends -- despite the dwindling price of oil.
Saudi Aramco’s senior executives can breathe a collective sigh of relief after the company’s first-ever earnings call with investors. The half-hour event was a pretty gentle affair with few questions that were likely to embarrass a company with a potentially lucrative share sale in the works.
Oil dropped as U.S. President Donald Trump said planned trade talks with China next month could be called off, stoking concerns the deepening dispute will damage global growth.
the Bank of Russia’s total stockpile of cash, gold and other securities is about to surpass Saudi Arabia’s, highlighting the Kremlin’s leverage in talks between major oil producers about how much to reduce production.
Oil surged to start the U.S. session as investors weighed the latest steps from Saudi Arabia following a selloff earlier in the week.
Oil rebounded from the lowest level since January after Saudi Arabia contacted other producers to discuss options to stem a rout that’s been driven by the worsening U.S.-China trade war.
Saudi Arabia plans to keep oil exports below 7 MMbpd next month as the OPEC country allocates less crude than demanded by customers to help stabilize the market, according to Saudi officials.
Saudi Arabia is considering means to end the slump in oil prices, but the options available to them are scarce.
Oil plunged, re-entering bear-market territory, as a surprise increase in American fuel stockpiles fueled worries about a growing glut, feeding into an increasingly dismal economic view.
Growth in global oil demand is slowing and won’t exceed 650,000 bpd this year before picking up pace up in 2020, according to Vitol Group’s chief executive officer.
In its current Short Term Energy Outlook, the U.S. Energy Information Administration anticipates a narrower differential between Brent and WTI crude prices for the rest of the year and into 2020.