|Day's Range||62.28 - 65.18|
Alberta, Canada's main crude-producing province, signed contracts to lease 4,400 rail cars and ship up to 120,000 barrels per day of crude by rail to help ease congestion on overcrowded oil export pipelines. The C$4-billion ($2.97 billion) plan was formulated last year by Rachel Notley's New Democratic Party government, which lost the April 16 provincial election and will make way for Jason Kenney's United Conservative Party when he is sworn in as premier next week. Kenney said his government will seek to cancel those contracts, arguing that Alberta taxpayers should not shoulder the risk or the cost of crude-by-rail.
Oil futures declined Friday, with prices taking a hit after U.S. President Donald Trump reportedly said he told OPEC to lower oil prices. OPEC's Secretary General Mohammed Barkindo, however, said he hasn't spoken with Trump, according to news reports. That denial, along with data showing a hefty weekly decline in active U.S. oil drilling rigs, prompted prices to end off their session lows. June West Texas Intermediate oil fell $1.91, or 2.9%, to settle at $63.30 a barrel on the New York Mercantile Exchange after earlier trading as low as $62.28. Prices fell 1.2% for the week.
Neither Saudi Arabia nor OPEC's secretary general discussed lowering oil prices with President Donald Trump, sources told the Wall Street Journal, denying the U.S. leader's earlier claim.
Drillers cut 20 oil rigs in the week to April 26, the steepest decline since the week to Jan. 18, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.. The U.S. rig count, an early indicator of future output, has fallen to 805, below year-ago levels when 825 rigs were active. Major oil companies, like Exxon Mobil Corp and Chevron Corp, however, are boosting their presence, particularly in the Permian, the largest U.S. shale oil field.
Oil prices fell on Friday morning after U.S. President Trump said that he “called up” OPEC and told the cartel that they have to bring gasoline prices down
JOINT BASE ANDREWS, Md. (Reuters) - U.S. President Donald Trump said on Friday he called the Organization of the Petroleum Exporting Countries and told the cartel to lower oil prices. "Gasoline prices ...
Sluggish global growth and an increase in U.S. output both signal the end of the recent rally in oil prices, economic research consultancy Capital Economics has suggested.
MOSCOW/MINSK (Reuters) - Russia is confident it can soon resolve a problem of polluted Russian oil contaminating a major pipeline serving Europe and affecting supplies as far west as Germany, a senior official said on Friday at talks with importers about the issue. Russian Deputy Energy Minister Pavel Sorokin did not give a precise timeframe but Moscow has previously said it would pump clean oil to the border with Belarus from April 29, seeking to end a crisis hitting the world's second-largest crude exporter. Sorokin was speaking at talks with officials from Belarus, Poland and Ukraine in Minsk on the issue.
BERLIN (AP) — German energy company RWE says it won't invest in new coal-fired power stations and is scrapping plans for a lignite-fired plant in western Germany.
What Could Support Natural Gas's RiseNatural gas On April 25, natural gas prices rose ~1.9% and settled at $2.548 per MMBtu (million British thermal units)—2.3% above the lowest closing level for active natural gas futures since June 8, 2016. In
What's Dragging the Energy Space Down?US crude oil On April 25, US crude oil June futures fell 1% and settled at $65.21 per barrel. Profit-booking and?an almost flat S&P 500 Index (SPY) might be behind the fall in oil prices. In the trailing
Surging global oil prices will pose a first big challenge to India's new government, whoever wins an election now under way, especially as domestic prices have been allowed to lag, meaning consumers are in for a painful surge as they catch up. For oil-import dependent India, higher global prices could lead to a weaker rupee, higher inflation, the ruling out of interest rate cuts and could further weigh on twin current account and budget deficits, economists warned. In some major Asian countries, such as Japan and South Korea, pump prices are adjusted periodically so they move largely in tandem with international crude prices.
April 26 (Reuters) - Borneo Oil Bhd: * MARCH PRODUCTION OF GOLD DORE 13.03 OZ * MARCH ORES MINED 5,093 MT Source ( http://bit.ly/2VkAAC7 ) Further company coverage:
Russian Urals crude loadings from the Baltic Sea port of Ust-Luga have resumed, port official and trade sources told Reuters on Friday. Two 100,000-tonne vessels, Front Sirius and Tanacity Venture, have ...
Asian spot prices for liquefied natural gas (LNG) snapped three straight weeks of gains this week as more spot cargoes filled the market while levels in storage tanks in the main demand region of North Asia remained relatively high. Spot prices for June delivery to Northeast Asia slipped to $5.30 per million British thermal units (mmBtu) this week, down 10 cents from the previous week, several industry sources said. The price gap between LNG traded in the spot market and term cargoes linked to benchmark Brent crude oil has stretched to its widest in about 8 years, driving some buyers locked in to term deals to try to delay shipments or look to adjust contracts.
Asian spot prices for liquefied natural gas (LNG) snapped three straight weeks of gains this week as more spot cargoes filled the market while levels in storage tanks in the main demand region of North Asia remained relatively high. Spot prices for June delivery to Northeast Asia (LNG-AS) slipped to $5.30 per million British thermal units (mmBtu) this week, down 10 cents from the previous week, several industry sources said.
KUALA LUMPUR, April 26 (Reuters) - Malaysian palm oil futures declined about 2 percent on Friday to a near one-month low. The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives ...
Investing.com - Oil prices fell on Friday in Asia, with Brent turned lower after hitting $75 for the first time since October after Europe halted Russian crude imports.
The CEO, Steve Williams, also put Canada's failure to build new export pipelines that would ship more crude out of landlocked Alberta squarely at the feet of federal and provincial governments and regulators. Williams will retire next week after 17 years with Canada's largest energy company by market capitalization, having spent seven of those years at the helm. Canada is home to the world's third-largest crude reserves, the bulk of which are in Alberta's oil sands, but has struggled for years to get new export pipelines built because of regulatory delays and fierce environmental opposition.
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According to a new report from the IEA, Iraq will play a crucial role in meeting global oil demand over the next decade as it boosts production
Iran is speaking out against the United States again, calling for some diplomacy as tensions between the two nations continue to escalate
Poland, Germany and Slovakia have suspended imports of Russian oil via a major pipeline, citing poor quality and triggering a rare crisis over supply from the world's second-largest crude exporter. Halting imports from the Druzhba pipeline could trigger legal claims by Western buyers against Russian suppliers, who would in turn seek compensation from Russian pipeline monopoly Transneft, three traders with Western buyers said. The suspension cuts off a major supply route for Polish refineries owned by Poland’s PKN Orlen and Grupa Lotos, as well as plants in Germany owned by Total, Shell, Eni and Rosneft.