Crude oil prices have been on a roller coaster ride in 2016 Crude oil prices have rallied almost 45% in the past two months. However, they are down by 13% since March 22 highs. They have also lost 65% since June 2014 due to long-term oversupply. The roller coaster ride in crude oil prices is …
Europe’s Carboniferous basins have long been prolific sources of hydrocarbons and characterize many of the fields in and around the North Sea. But one of these basins is virtually overlooked. The Larne Basin in Northern Ireland is a classic Carboniferous basin that has remained unexplored for a couple of reasons. Firstly, historical “troubles” in Northern Ireland deterred the oil companies who were …
When other major players in the oil-and-gas industry zigged, Scot Cohen zagged. Unconventional drilling, such as fracking across shale plays, has become the popular route for most energy explorers in recent years. Cohen, however, did the opposite: the New York-based investor has put his money into straight conventional drilling using 3D-seismic geology. The decision was …
It is Pharrell’s 43rd birthday, and the crude complex appears happy to edge lower once again as production freeze hopes wane. Here are six things to consider on this fifth day of the fourth month: 1) On the economic data front, we have had PMI services data, hot on the heels of the recent deluge …
BENICIA, Calif. (KCRA) —Crude oil traveling through Northern California is getting another chance of becoming a reality as an oil company offers a new proposal to the Benicia City Council. Valero wants two 50-car trains to transport tens of thousands of barrels of crude oil daily to its refinery in Benicia, passing through cities like …
Summary Key world oil number. Decline not “off a cliff.” Weekly estimates flawed. Projections influenced. Oil shale’s influence on U.S. production sparked a world oil price war. It affects the value of energy sector investments worldwide. It is of keen interest by U.S. and world oil market participants. The Energy Information Agency (EIA) reported the …
Any way you look at it, the oil trade has been a tough one. Needless to say, a huge price decrease in the commodity that drives the industry will always separate the good companies from those that are over-leveraged. Plus, rather than trying to grab the proverbial falling knife, it’s often better to see if …
Oil prices rose about 1 percent on Monday after data showed crude inventories at the Cushing, Oklahoma delivery hub for U.S. futures fell for the first time since January, and ahead of the expiration of the U.S. front-month contract. Oil’s upside, however, was limited by concerns that U.S. energy companies could ramp up drilling again …
The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories increased by 1.3 million barrels last week, maintaining a total U.S. commercial crude inventory of 523.2 million barrels. The commercial crude inventory stands at historically high levels for this time of year, according to the EIA. Tuesday …
It’s still ugly in the oil patch. The price of crude oil seems to have stabilized at around $30 per barrel, yet bankruptcies still loom and dividend cuts continue to cast a long shadow over the energy sector. Oil stocks are in a nasty bear market with no apparent end in sight. Source: Flickr But …