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Oil Rally Stumbles on Fears Hedge Fund Buying Spree Went Too Farby  Bloomberg|Jessica Summers|Tuesday, January 16, 2018TweetinShare5  (Bloomberg) -- Oil reversed course as a record crude-buying spree by hedge funds spurred concern that prices may be due for a correction after hitting three-year highs.Futures in New York slipped 0.9 percent on Tuesday, ending a five-day rally, while prices in London slid to the lowest in a week. Hedge funds last week boosted their bullish bets on crude to record levels, according to the U.S. Commodity Futures Trading Commission and ICE Futures Europe. Now traders are weighing signs crude may be overbought."Typically when the boat gets tipped greatly to one side, like it is right now, you get a reversal," said John Kilduf...
发布时间: 2018 - 01 - 17
The world mostly ignored Ed Morse 11 months ago when the head of commodities research at Citigroup said oil could drop as low as $20. (Bloomberg) -- The world mostly ignored Ed Morse 11 months ago when the head of commodities research at Citigroup said oil could drop as low as $20. It’s paying attention now that crude has tipped below $30.  BP Plc slashed 4,000 jobs, Petroleo Brasileiro SA slashed its spending plan and Petroliam Nasional Bhd. warned that it faces several tough years before crude futures in the U.S. sank into the $20s for the first time in more than 12 years. Morse, who wr...
发布时间: 2016 - 01 - 14
Weak Chinese demand for oil, coupled with its devalued currency against the US dollar could lead industry into a deeper trough, economists say. Following an inauspicious start to 2016, oil prices continue to tumble, and currency rates coupled with global oversupply are pushing commodity prices into relatively unchartered territory.  In fact, foreign exchange disparities noted by Morgan Stanley in a Jan. 11 commodities report indicated the prices could get worse before they get better. The U.S. dollar’s appreciation is largely propped up by the People’s Bank of China [PBOC] recent devaluat...
发布时间: 2016 - 01 - 14
MUMBAI, Dec 30 (Reuters) – Essar Oil, India's second biggest private refiner, said on Wednesday it had completed delisting from local bourses in return for a 37.45 billion rupee ($563.94 million) payout to minority shareholders. Essar Oil minority shareholders will get 262.80 rupees a share, representing a 2.3 percent premium to the stock's closing price on Tuesday but an 80 percent premium to the 146.05 rupees floor price it set earlier this month. The transaction would value Essar Oil at 380 billion rupees ($5.72 billion), Oil Bidco (Mauritius) the promoter of Essar Oil said in a statement. ...
发布时间: 2015 - 12 - 31
KHOBAR, Saudi Arabia, Dec 30 (Reuters) – Saudi Arabian Oil Minister Ali al-Naimi said the kingdom, the world's top crude exporter, does not limit its output and has the capacity to meet additional demand, the Wall Street Journal reported on Wednesday. "We will satisfy the demand of our customers. We no longer limit production. If there is demand, we will respond. We have the capacity to respond to demand," he was quoted as saying. "It is a reliable policy and we won't change it," he added, according to the WSJ.
发布时间: 2015 - 12 - 31
(Bloomberg) -- Another horrendous year is drawing to a close in the oil patch. After starting out with hopes of a rebound, 2015 will instead punctuate the worst two years ever suffered by U.S. crude producers. West Texas Intermediate futures are heading for their biggest-ever two-year drop, while the Standard & Poor’s Energy Sector Index is set to mark its first consecutive decline since 2002. Futures and equities will post December decreases, signaling more discomfort as 2016 starts. Oil has tumbled since Saudi Arabia led the Organization of Petroleum Exporting Countries in...
发布时间: 2015 - 12 - 31
DUBAI, Dec 22 (Reuters) - Saudi air defence systems shot down a ballistic missile fired from Yemen, state media reported, which the Yemeni army said it had aimed at oil installations in the south of the kingdom. Warring parties in Yemen, where forces in a Saudi-led Arab coalition are trying to restore President Abd-Rabbu Mansour Hadi to power, agreed a renewable seven-day ceasefire under United Nations auspices that started on Dec. 15. But the truce has been repeatedly violated. Since it broke out in March, the conflict has killed nearly 6,000 people. The missile, fired late on Monday night, w...
发布时间: 2015 - 12 - 23
The company said in September it expected oil production to start by the end of this year after several delays in developing the field.   OSLO, Dec 22 (Reuters) - Italian oil company ENI now expects first production from its Goliat field offshore northern Norway at the beginning of 2016, later than previously expected, the company said on Tuesday.Due to become the world's most northerly producing oilfield, output from the field is due to peak at some 34 million barrels of oil per year."We are coming close to production start-up and foresee readiness for first oil in the fir...
发布时间: 2015 - 12 - 23
NEW YORK, Dec 17 (Reuters) - Oil prices fell more than 1 percent on Thursday, with global benchmark Brent settling not far from 2004 lows, after fresh supply builds at the delivery point for U.S. crude futures added to worries about a global glut. Trading was thin, however, as uncertainty over how much longer oil prices could stay from hitting 11-year lows kept some players sidelined, analysts said. "There could be a short-covering bounce here, for all we know. I'm hoping for that, so I can short the hell out of it," said Tariq Zahir, an oil bear who trades mostly crude oil spreads a...
发布时间: 2015 - 12 - 18
(Bloomberg) -- Algeria’s state oil producer Sonatrach Group plans to raise crude output by 5 percent next year and offer energy-exploration rights to foreign companies by the end of March, steps that may add barrels to an oversupplied global market.Algeria, Africa’s biggest natural-gas producer, is seeking to attract international companies to an auction of rights to develop oil and gas fields, including those with hard-to-reach tight deposits, Salah Mekmouche, Sonatrach vice president of exploration and production, said in an interview in Algiers. State petroleum regulator Alnaft will organiz...
发布时间: 2015 - 12 - 18
Among the most galvanizing themes confronting oil and gas in the foreseeable market are those of increasing geopolitical threats and instability. And that’s going to leave oil prices lost in translation. As analysts at Simmons & Company International explained in a December update, it’s the geopolitical instability and the inherent tumult it creates throughout the world that have created a “massive disconnect” - one that’s placed oil prices close to 50 percent below what’s needed to grow production and renew inventory.           The researchers ...
发布时间: 2015 - 12 - 14
The U.S. Energy Information Administration's State Heating Oil and Propane Program (SHOPP) collects state-level residential heating oil and propane price data in 38 states during the winter heating season. SHOPP is a joint effort between EIA and state energy offices in regions (especially states in the Northeast and Midwest) where heating oil and propane are commonly used as heating fuels. In all of the states surveyed, propane and heating oil prices are lower than they were at this time last year, and EIA expects prices will remain at lower levels throughout the winter.  &...
发布时间: 2015 - 12 - 11
Republished December 9, 2015, 10:00 a.m. to correct notation on graph.Two recently enacted laws authorize significant sales of crude oil from the Strategic Petroleum Reserve (SPR) over the next decade. The Bipartisan Budget Act authorizes the sale of 58 million barrels of SPR oil between FY 2018-25 for deficit reduction purposes and an estimated 40-50 million barrels of oil in FY 2017-20 for SPR modernization. As part of the Bipartisan Budget Act, the U.S. Department of Energy (DOE) is required to complete a long-term strategic review of the SPR to ensure it meets current a...
发布时间: 2015 - 12 - 11
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