Showing posts from March, 2020

Weakened Dorian strands people on North Carolina island - WTVC

Weakened Dorian strands people on North Carolina island - WTVCWeakened Dorian strands people on North Carolina island - WTVCPosted: 06 Sep 2019 12:00 AM PDT[unable to retrieve full-text content]Weakened Dorian strands people on North Carolina islandWTVC You are subscribed to email updates from "buxton oil price,fuel oil prices" - Google News.
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${latestItemCould Oil Really Fall To $0 - OilPrice.comBarclays Slashes Oil Price Forecast On Demand Shock - OilPrice.comThe Inevitable Collapse Of Global Oil Production - OilPrice.comCould Oil Really Fall To $0 - OilPrice.comPosted: 30 Mar 2020 06:00 PM PDT The outlook for U.S. shale continues to darken withWTItesting sub-$20 territory. The supply glut could grow worse as the contraction in demand continues to deepen. On Sunday, President Trumpextendedthe social distancing guidelines through the end of April, retreating from his plan to "open up" the economy by Easter. And before the ink was even dry on the $2 trillion stimulus, Congress has already startedpreparingthe fourth emergency coronavirus legislation.  As of now, 193 million people in the U.S. and a staggering 2.3 billion people worldwide are living under some sort of lockdown order, according to Raymond James. In early March, a few forecasterssuggestedthat oil demand may be slightly negative in 2020, dipping by a me…

Oil jumps more than 2% as US ramps up economic support measures - CNBC

Oil jumps more than 2% as US ramps up economic support measures - CNBCOil jumps more than 2% as US ramps up economic support measures - CNBCPosted: 24 Mar 2020 11:36 AM PDT A kayaker passes in front of an offshore oil platform in the Guanabara Bay in Niteroi, Brazil, Saturday, Feb. 1, 2020.Dado Galdieri | Bloomberg | Getty Images Oil prices rose more than 3% on Tuesday on hopes that the United States will soon reach a deal on a $2 trillion coronavirus aid package that could blunt the economic impact of the outbreak and in turn support oil demand.Brent crude oil futures for May delivery gained 22 cents to trade at $27.27 per barrel, while West Texas Intermediate crude futures rose 65 cents, or 2.78%, to settle at $24.01 per barrel."Oil is clawing its way higher, mainly on the back of the weaker dollar that stemmed from the Fed's unprecedented measures," said Edward Moya, senior market analyst at broker OANDA."WTI crude volatility will remain high and traders should not…

A 9-year-old boy who can deadlift more than twice his bodyweight is breaking powerlifting records - WPMT FOX 43

A 9-year-old boy who can deadlift more than twice his bodyweight is breaking powerlifting records - WPMT FOX 43A 9-year-old boy who can deadlift more than twice his bodyweight is breaking powerlifting records - WPMT FOX 43Posted: 29 Jan 2020 06:45 AM PST Nine-year-old Tate Fegley may stand at just 4 feet, 7 inches and 103 pounds, but he's already proving to be a force to be reckoned with in the powerliftin...Nine-year-old Tate Fegley may stand at just 4 feet, 7 inches and 103 pounds, but he's already proving to be a force to be reckoned with in the powerlifting world. With a deadlift of 230 pounds, bench press of 92 pounds and squat of 190 pounds, the boy from Minden, Louisiana, is crushing records left and right. He started training just a year and a half ago, but he's already broken four American records for his age and weight class. At a state competition two weeks ago, Tate broke the records for squat, bench press, deadlift and total weight lifted all in one day. "I j…

How Low Could U.S. Oil Production Actually Go -

The oil-bears continue their romp across the energy markets with various grades of crude reaching lows not seen in almost twenty years. There will come a point where I can sit down and pen the following words, "We've reached bottom, and this is as bad as it gets." There is a ways to go before it will be possible to make that statement. We are writing off the notion of any recovery in the broad oil and gas market for the next couple of quarters, and probably the rest of 2020. The situation will likely get worse before it gets better, very rapidly. 2021...who knows… things might begin to improve. We will discuss the mechanics of a possible recovery early next year.The world is awash in cheap oil right now. Goldman Sachs is calling for a final demand decline in March (now) of ~10.5 mm bod, and a projected demand decline of 18.5 million bpd for April. Folks that's ~20% of total EIA projected global demand. As discussed in priorOilPrice articles, OPEC and the Russians hav…

Crude Oil Price Forecast – Crude Oil Trying To Find a Base - Yahoo Finance

WTI Crude OilThe WTI Crude Oil market rallied a bit during the trading session on Tuesday, as word got out that the Americans and the Russians are going to start trying to cooperate in the oil markets. If that’s going to be the case, that could help mark the beginning of the end of the price war, effectively cutting Saudi Arabia out of the mix. In that being said, the price action has ended up filling the gap that formed on Monday, so now the question is whether or not we can break above there? If we do then I think it opens up a possible move towards the $25 level. On the other hand, if we were to break below the lows of Monday, that opens up a move down to the $17.50 level.Crude Oil Video 01.04.20BrentBrent markets also rallied a bit during the session and also have filled the gap. At this point, the market is very likely to continue to see a lot of volatility, but we are at extremely low levels. The $25 level underneath offering support, so if we were to break down below it the mar…

Crude-oil prices post the largest quarterly percentage drop on record - MarketWatch

U.S. oil futures settled slightly higher on Tuesday, finding some support after China reported strong manufacturing data and President Donald Trump spoke with Russia about efforts to fight the spread of the coronavirus pandemic and stabilize the crude market.But oil prices for the U.S. and global crude benchmarks suffered the largest quarterly percentage declines on record and lost more than half their value for the month amid a demand slump caused by the coronavirus pandemic and a glut of supply thanks to a Russia-Saudi oil-price war. Prices had settled Monday at their lowest level since 2002.China’s official manufacturing purchasing managers index rose to 52.0 in March from a record low of 35.7 in February, the National Bureau of Statistics said Tuesday.The data is “raising hopes that the world will start to recover from this deadly virus,” said Phil Flynn, senior market analyst at The Price Futures Group. “This, along with talk of more stimulus and some pressure from the Trump admi…

U.S. Drillers Face Doomsday Scenario As Some Crude Blends Hit $1 -

As the oil war and coronavirus demand destruction rage on, WTI crude prices briefly dipped below $20 per barrel, but many prices aren’t even fetching $20 per barrel as they are struggling to find buyers for their crude. Prices in Oklahoma, Colorado, Kansas, and Louisiana, for instance, have dropped significantly over the last week, with benchmark prices such asLouisiana Lightfalling to $5.85 andOklahoma Sweetfalling to $16.50 on Monday, while prices in the cowboy state,Wyoming, have fallen to $1.25.The deepest discounts in crude are often found in more remote areas with little access to pipeline and export infrastructure, and these are also often the areas where, once shut-in, production isn’t likely to be restarted anytime soon. 

So-called stripper wellsmade up about 10 percentof total U.S. crude output back in 2015, and after a round of serious cost-cutting, there’s not much left to cut for these tiny producers, most of whom are now losing money on every barrel they produce.

Larger sh…

Oil Companies on Tumbling Prices: ‘Disastrous, Devastating’ - The New York Times

Oil Companies on Tumbling Prices: ‘Disastrous, Devastating’ - The New York TimesOil Companies on Tumbling Prices: ‘Disastrous, Devastating’ - The New York TimesPosted: 31 Mar 2020 07:03 PM PDT HOUSTON — The once mighty oil industry is shrinking quickly around the world, hunkering down in survival mode.With the coronavirus pandemic all but eliminating travel and commutes, demand for energy is tumbling, and oil companies from Algeria to West Texas are slashing budgets. Refineries are cutting production of gasoline, diesel and jet fuel. Pipeline operators are telling producers that they can ship crude only if there is a buyer willing to take the fuel because storage tanks are filling up fast. And American oil companies are dropping rigs, dismissing fracking crews and beginning to shut down wells.As much as 20 percent, or 20 million barrels a day, of oil demand may be lost as the global economy slows, according to the International Energy Agency. That is roughly equivalent to eliminating a…