An ongoing price slump is rattling the industry and weakening petrostates. How will low prices change the world? Here’s everything you need to know: How cheap is oil? Prices have hovered between $40 and $50 a barrel for the past year — far below the pre-collapse high of $147 a barrel in 2008. The U.S. …
For the oil-trading community, the fall of hedge fund manager Andy Hall signaled a heavy blow, but while commodity funds continue to shutter their doors, some are finding other ways to make money, including trading refining margins and calendar spreads. Commodity hedge funds have dwindled in recent years as oil prices slumped, leaving only a …
The Zueitina oil terminal in Libya has ceased loading cargos as port workers protest, demanding better working conditions, Bloomberg quoted the head of the workers’ union Merhi Abridan as saying. This means that oil coming from the fields around Zueitina will be stored at the port for the duration of the protest, and a spike in exports …
Astenbeck Capital Management founder Andy Hall is so highly regarded in the oil trading business that he earned the nickname “god.” But Hall has admitted that the value of his analysis has diminished in an age of automated trading. The rise of machine-based algorithmic trading is injecting so much volatility into oil markets, it’s now difficult …
One strike in the oil exploration business is great but a second strike for this company in the same oil rich Kern County, California, field is extraordinary. Petro River Oil (PTRC) made that second strike and has been just as successful in Osage County Ok, with 2 additional strikes. Kern County leads the state in …
One strike in the oil exploration business is great but a second strike for this company in the same oil rich Kern County, California, field is extraordinary. Petro River Oil (PTRC) made that second strike and has been just as successful in Osage County Ok, with 2 additional strikes. Kern County leads the state in …
U.S. crude oil output is now closing in on 9.5 million b/d, the highest levels in two years and almost double what we were producing a decade ago. But, while our demand has basically been flat, oil is a global commodity and imports have long been ingrained in our own market, so we still import about 35-50% of …
NEW YORK (Reuters) – Oil prices tumbled 2 percent on Monday in volatile trade, as the dollar strengthened and China posted weak domestic demand data, sinking prices that had gotten a short-lived boost on concerns about potential reductions in crude supply from Libya. Global benchmark Brent crude futures LCOc1 were at $51.01 a barrel by …
A new forecast for the oil and gas industry is slightly more upbeat than it was three months ago, but warns the “lofty levels of activity” reported pre-recession “are likely a thing of the past.” The Petroleum Services Association of Canada, in its latest outlook, said 7,200 wells are expected to be drilled across the …
The natural gas futures contract that trades on the New York Mercantile Exchange (NYMEX) division of the Chicago Mercantile Exchange is a reflection of the price of the energy commodity for delivery at Erath, Louisiana. Natural gas trades at different prices all over the United States, but the NYMEX price is the benchmark for consumers, …