Daily News


All Eyes On OPEC As Oil Prices Sink

Oil prices have been falling throughout the week, hitting a 10-month low on Wednesday, but Friday trading has seen a slight recovery. Oil prices hit ten-month lows this week, pushing crude oil well into bear market territory. Hopes of the OPEC deal balancing the market are fading fast. The plunging price took a breather on […]

High Costs Are Pushing Investors Away From The Permian

The Permian has enjoyed a rush of capital since oil prices began to recover from a low of $26.21 in February of last year. The play is home to some of the best economics in the country, making it a prime target for E&P companies looking to maximize profit in a lower price environment. But […]

Downplaying Energy: Will The Trend Continue?

Since the trough in the Great Recession, the world economy has recovered smartly. But according to the latest calculations from energy giant, BP, global energy usage has not kept pace with economic growth. The U.S. seems to be leading the way in economic growth while consuming little additional energy and actually reducing carbon dioxide emissions. […]

Oil bounces off 10-month lows; crude glut still weighs

Oil rose on Thursday, a day after hitting 10-month lows, but market sentiment remained negative because the global crude glut has persisted despite OPEC-led output cuts. Brent crude futures ended 40 cents higher to $45.22 a barrel, after falling as low as $44.53. Brent fell 2.6 percent the previous session to $44.35, lowest since November. […]

US Gulf Oil Production Grinds To A Halt As Cindy Makes Landfall

Tropical Storm Cindy made landfall along the Gulf Coast Thursday as meteorologists called for a third day of heavy rains and viciously fast winds in the region. Cindy – the first storm to reach the Western Gulf coast since Tropical Storm Bill made landfall in June 2015 – has already been blamed for the death […]

Why this could be a sweet Friday for crude oil

Following a mild Thursday for markets in which crude oil managed to move slightly higher, here’s what iiTrader chief market strategist Bill Baruch will be watching for on Friday. Crude oil rose moderately on Thursday, following a Wednesday in which the commodity bottomed just above $42 per barrel, a nearly one-year low.  In the short […]

Crude gains in Asia with weekly U.S. rig count the next data point

Crude prices gained in Asia on Friday with the market looking ahead to U.S. rig count figures. On the New York Mercantile Exchange crude futures for August delivery rose 0.23% to $42.84 a barrel, while on London’s Intercontinental Exchange, Brent gained 0.18% to $45.30 a barrel. The number of rigs drilling for oil in the […]

Iran: OPEC production cuts are difficult

Cutting back on production levels is a difficult task for members of the Organization of Petroleum Exporting Countries, Iran’s oil minister said Wednesday. Iran ranks third among OPEC member states in terms of proven crude oil reserves. Production has been more or less steady since the fourth quarter of 2016 at 3.7 million barrels per […]

Crude Oil Price Gets Momentary Boost Following EIA Inventory Report

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories decreased by 2.5 million barrels last week, maintaining a total U.S. commercial crude inventory of 509.1 million barrels. The commercial crude inventory remained in the upper half of the average range for this time of year. Tuesday […]

Oil Gains After Falling Into Bear Market as U.S. Supply Rises

Oil prices recovered after falling into a bear market amid speculation rising U.S. output will blunt OPEC-led efforts to trim a global glut. Futures climbed 0.5 percent in New York, but still traded below $43 a barrel. U.S. oil production increased to the highest since August 2015, according to a report from the Energy Information […]