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Showing posts from October, 2020

Oil holds gains on shrinking US stockpiles - Mint

Oil holds gains on shrinking US stockpiles - Mint Oil holds gains on shrinking US stockpiles - Mint Posted: 15 Oct 2020 12:00 AM PDT Oil prices rose slightly in early trade on Thursday after data showed U.S. crude stockpiles fell last week, adding to 2% gains overnight, as OPEC and its allies were seen fully complying in September with their pact to curb output. U.S. West Texas Intermediate (WTI) crude futures picked up 4 cents, or 0.1%, to $41.08 a barrel at 0032 GMT, while Brent crude futures rose 5 cents, or 0.1% to $43.37 a barrel. Oil markets climbed for a third day despite a resurgence in COVID-19 infections across Europe potentially denting fuel demand. "The energy markets are certainly marching to their own drummer at the moment," said Michael McCarthy, chief market strategist at CMC Markets and Stockbroking, adding that recent oil price volatility may have attracted more trader positions. The American Petroleum

Asda and Morrisons slash petrol by 2p after oil prices crash - Mirror Online

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Asda and Morrisons slash petrol by 2p after oil prices crash - Mirror Online Asda and Morrisons slash petrol by 2p after oil prices crash - Mirror Online Posted: 10 Mar 2020 12:00 AM PDT Asda will cut the price of fuel by 2p a litre for both unleaded petrol and diesel after oil prices crashed. Drivers filling up at an Asda forecourt will pay no more than 114.7p a litre for unleaded and 116.7p a litre for diesel, the lowest amount since Nov 2017. The latest price cut at Asda's 322 petrol stations means the cost of filling up has fallen 11p a litre since January. Asda senior fuel buyer Dave Tyrer said: "Once again we're pleased to be passing on wholesale cost reductions to customers. "It will be a welcomed boost, especially to diesel drivers who are seeing some of the lowest fuel prices since 2017. Anybody filling up at Asda will pay no more than 114.7ppl on unleaded and 116.7ppl on diesel regardless of where they live.

Crude Oil Price Update - Downside Momentum Makes $35.72 - $34.82 Next Major Target Area - FX Empire

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U.S. West Texas Intermediate crude oil futures are trading lower on Wednesday as a surge in the U.S. Dollar weighed on demand for the dollar-denominated asset. The safe-haven dollar rose as coronavirus cases jumped in the United States, Europe and Russia. Traders are worried that the latest increase in coronavirus infections could halt the global economic recovery and drive down fuel demand. At 15:02 GMT, December WTI crude oil futures are trading $37.40, down $2.17 or -5.58%. Prices are also being pressured by a mixed inventories report from the Energy Information Administration. It showed U.S. stocks rose while gasoline and distillate inventories fell last week. Crude inventories rose by 4.3 million barrels in the week to October 23 to 492.40 million barrels, compared with analysts’ expectations in a Reuters poll for a 1.2 million-barrel rise. U.S. gasoline stocks fell by 892,000 barrels in the week to 226.1 million barrels, the EIA said, compared with analysts’ expectatio

Range Announces Third Quarter 2020 Financial Results - EnerCom Inc.

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Range Announces Third Quarter 2020 Financial Results - EnerCom Inc. Range Announces Third Quarter 2020 Financial Results - EnerCom Inc. Posted: 29 Oct 2020 02:34 PM PDT Legal Notice

Exxon Flags Possible $30B Writedown After Third Straight Loss - OilPrice.com

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Exxon Flags Possible $30B Writedown After Third Straight Loss - OilPrice.com Exxon Flags Possible $30B Writedown After Third Straight Loss - OilPrice.com Posted: 30 Oct 2020 11:30 AM PDT ExxonMobil ( NYSE: XOM ) warned on Friday that it could write down North American natural gas assets with a carrying value of up to US$30 billion as it reported its third consecutive loss this year amid low oil demand and oil prices. Exxon is currently re-assessing its portfolio to decide which assets with the highest potential to create value should be developed, the U.S. supermajor said in its Q3 earnings release .   "Depending on the outcome of the planning process, including in particular any significant future changes to the corporation's current development plans for its dry gas portfolio, long-lived assets with carrying values of approximately $25 billion to $30 billion could be at risk for significant impairment," Exxon said, flagging

Oil Sees Worst Month Since March - OilPrice.com

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Oil prices have hit a 5-month low as COVID cases climb, new lockdowns are put in place and reports emerge that OPEC may not maintain its production cut in 2021. For Global Energy Alert members there are now two new free reports available in your dashboard. The first of these reports is on how to interpret stock charts and the second outlines the three biggest mistakes made by traders today. Make sure you become a member to read these reports and many more. Friday, October 30th, 2020 Oil prices plunged this week after spending months trapped in a narrow range around $40 per barrel. Renewed national lockdowns in France and Germany rattled financial markets, while the U.S. case count for covid-19 remained at record levels and may continue to rise. “As lockdowns begin to bite on demand concerns across Europe, the near-term outlook for crude starts to deteriorate,” said Stephen Innes, chief global market strategist at Axi. In early trading on Friday, WTI fell to $35 per bar

Crude Oil Forecast: WTI Crude Oil Sinks to Fresh Four-Month-Lows - DailyFX

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Crude Oil Price Forecast Talking Points: WTI Crude Oil fell to a fresh four-month-low this morning. This fresh low broke through range support that’s held for the better part of two months. The sell-off has so far found support at a key Fibonacci level plotted around 35.66. The analysis contained in article relies on price action and chart formations . To learn more about price action or chart patterns, check out our DailyFX Education section. Advertisement Crude Oil Sell-Off Breaks Range to Set Fresh Four-Month-Lows The earlier-year break below the zero level looms large in Crude Oil prices, but, for the past two months, WTI has been in a fairly consistent range with about $4 of deviation from support to resistance. The support-side of that range was violated earlier this morning as sellers pushed prices down to a fresh four-month-low, eventually finding some support at a key Fibonacci level. The price of 35.66 is the 38.2% retracement of the 2020 major move, as tak

Oil Posts Biggest Gain in Two Weeks on Shrinking U.S. Supplies - Bloomberg

Oil Posts Biggest Gain in Two Weeks on Shrinking U.S. Supplies - Bloomberg Oil Posts Biggest Gain in Two Weeks on Shrinking U.S. Supplies - Bloomberg Posted: 29 Sep 2020 12:00 AM PDT [unable to retrieve full-text content] Oil Posts Biggest Gain in Two Weeks on Shrinking U.S. Supplies    Bloomberg You are subscribed to email updates from "oil price december 2018,oil prices bloomberg" - Google News . To stop receiving these emails, you may unsubscribe now . Email delivery powered by Google Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States

Crude Oil Price Forecast - Crude Oil Markets Continue to Get Hit - FX Empire

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WTI Crude Oil The West Texas Crude Oil market has broken down below the $36.25 level again, and it now looks like we are going to threaten the $35 level. If we break down below the $35 level, it is likely that we go much lower, perhaps reaching down towards the $32.50 level, and then possibly the $30 level. With that being the case, I do like the idea of shorting this market on short-term rallies that show signs of exhaustion. At this point time, the $30 level is my longer-term target, but I think it is can it take a while to get there. After all, it seems as if hope burns eternal, and at this point I think we have a bit of a lid on the market above at the 50 day EMA. Crude Oil Video 02.11.20 [embedded content] Brent Brent markets tried to rally initially during the trading session on Friday, but then broke down again to reach towards the bottom of the candlestick from the Thursday session. At this point time, the market looks like it is going to continue to struggle due to

Crude Oil Price Forecast - Crude Oil Markets Continue to Get Hit - FX Empire

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WTI Crude Oil The West Texas Crude Oil market has broken down below the $36.25 level again, and it now looks like we are going to threaten the $35 level. If we break down below the $35 level, it is likely that we go much lower, perhaps reaching down towards the $32.50 level, and then possibly the $30 level. With that being the case, I do like the idea of shorting this market on short-term rallies that show signs of exhaustion. At this point time, the $30 level is my longer-term target, but I think it is can it take a while to get there. After all, it seems as if hope burns eternal, and at this point I think we have a bit of a lid on the market above at the 50 day EMA. Crude Oil Video 02.11.20 [embedded content] Brent Brent markets tried to rally initially during the trading session on Friday, but then broke down again to reach towards the bottom of the candlestick from the Thursday session. At this point time, the market looks like it is going to continue to struggle due to

Western Europe's Biggest Oilfield Set To Increase Production - OilPrice.com

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The giant Johan Sverdrup oilfield in Norway’s North Sea is expected to increase its oil production this quarter after the Norwegian government raised the Q4 production permits for Western Europe’s biggest producing field, a minority partner in the project, Lundin Energy, said on Friday. In its Q3 results release, Lundin, which holds 20 percent in the oilfield operated by Equinor, said that permitted production under the government-mandated production cuts were raised for the Johan Sverdrup, Edvard Grieg, and Alvheim fields, after some fields pumped less oil than allowed in Q3 due to technical issues and maintenance problems. Norway is currently reducing its oil production by the end of the year because of the slump in oil prices in March and April. In a bid to support global efforts to prop up oil prices and ease the glut, Norway laid out a plan to cut its crude oil production by 250,000 bpd in June, and then maintain a 134,000-bpd lower rate of production for the rest of 2020. This

Kurdistan Halts All Oil Exports After Attack - OilPrice.com

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Kurdistan Halts All Oil Exports After Attack - OilPrice.com Kurdistan Halts All Oil Exports After Attack - OilPrice.com China And India Drive Oil Demand Recovery - OilPrice.com Western Europe's Biggest Oilfield Set To Increase Production - OilPrice.com Oil Hits 5-Month Lows As COVID Cases Surge - OilPrice.com Kurdistan Halts All Oil Exports After Attack - OilPrice.com Posted: 30 Oct 2020 02:30 PM PDT The Kurdistan Region Government in Iraq declared a halt to all oil exports on Friday after experiencing an attack on a crude oil pipeline earlier in the week. The pipeline suffered an attack on Wednesday, disrupting the flow of crude. The KRG-controlled area of Iraq manages oil exports through the pipeline to the Ceyhan port in Turkey. The market is carefully watching Iraq's crude oil production and exports, as the most non-compliant member of the OPEC+ production cut agreement for nearly the entire

Crude oil futures rise on spot demand - Economic Times

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Crude oil futures rise on spot demand - Economic Times Crude oil futures rise on spot demand - Economic Times Oil gains nearly 2% as robust China trade data offsets returning supply - CNBC Brazil soars to China's No. 3 crude oil supplier in September - Reuters Crude oil futures rise on spot demand - Economic Times Posted: 30 Oct 2020 03:27 AM PDT New Delhi: Crude oil prices on Friday rose by Rs 12 to Rs 2,710 per barrel as participants widened their positions on firm spot demand. On the Multi Commodity Exchange , crude oil for delivery in November traded higher by Rs 12, or 0.44 per cent, at Rs 2,710 per barrel in 3,544 lots. Analysts said raising of bets by participants kept crude oil prices higher in futures trade. Globally, West Texas Intermediate crude oil rose by 0.25 per cent to USD 36.24 per barrel, while Brent crude was trading up 0.05 per cent at USD 37.67 per barrel in New York. Oil gai

Are Stock Markets About To Crash Again - OilPrice.com

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Are Stock Markets About To Crash Again - OilPrice.com Are Stock Markets About To Crash Again - OilPrice.com Posted: 29 Oct 2020 04:30 PM PDT In another sign that the second coronavirus wave is hitting fuel demand, oil trading firms are looking for new supertankers to use them as floating storage for diesel as demand is expected to suffer from the renewed lockdowns in major European economies, trade and shipping sources told Reuters . Diesel in global floating storage is expected to increase as major oil firms and trading houses are on the prowl for supertankers, expecting lower than usual diesel demand from the industrial, heating, and transport sector in the coming months. Concerns about fuel demand intensified this week after two of the largest economies in Europe—Germany and France—announced lockdowns, which the market was not expecting two or three weeks ago. Industry professionals and executives did not believe that countries would