Oil rig counts in the U.S. rose for the first time since December 2014 last week, which could impact year-end price targets.» Read More
Citigroup’s shakiest days are over, Saudi Prince Alwaleed bin Talal al Saud, the biggest single individual shareholder of the bank’s stock and chairman of Kingdom Holding Company, which also holds Citi stock, told CNBC Friday.
Natural gas prices were weak yesterday after reports of heavy production in the Gulf of Mexico Producing Region. Furthermore, the latest 6-10 day weather forecasts place temperatures in the Midwest and the East Coast much above normal, reducing the chances of another weather-related boost like the one seen in prices last week.
Police and protesters clashed in Saudi Arabia Thursday and the country faces a day of possible mass protests Friday, but even heavy demonstrations will not succeed in removing the current regime, according to analysts at the Eurasia Group.
the EIA’s Short Term Energy Outlook (STEO) revised its average price for crude oil in 2011 from $91 to $105, but how reliable is this?
Libya’s central bank has ordered banks to recirculate old currency in the first sign that the oil-rich north African state is facing liquidity problems amid international efforts to freeze the regime’s assets, reports the Financial Times.
Wealthy Saudi investor Prince Alwaleed bin Talal expressed confidence in Citigroup's earnings potential and also called for the bank to issue a dividend to shareholders.
The Strategic Petroleum Reserve (SPR) was created during the Ford administration in response to the 1973-74 Arab oil embargo. Barrels started moving into the reserve in 1977 during the Carter administration, to which a total of 108 million barrels moved in by the time Carter left office in 1981...
Things have gotten chilly here for Natural Selection, the film production company backed by Col. Muammar el-Gaddafi’s son Saadi, the New York Times reports.
Yesterday’s (Monday's) intra-day charts show a strong inverse relationship between USDEUR and Nymex WTI, as illustrated in today’s issue of The Schork Report. Yet traders may be hesitant to trade this correlation consistently due to its historical tendency to break down
Keeping in mind that markets abhor uncertainty, the most significant (and obvious) driver supporting oil prices today are the two big unknowns related to the Middle East; namely, duration and contagion.
Apparently Hugo Chavez thinks the U.S. is distorting the situation in Libya “… to justify an invasion.” As if the video being shown on CNN, BBC et al. has somehow been staged (perhaps on the old set from Capricorn One) by the U.S.
With data from the Energy Information Administration (EIA), a division of the Department of Energy, CNBC.com took a look at the countries that produce the most crude oil on a daily basis.
In the weeks ahead the market for natural gas in Canada will transition to the spring breakup. To this effect, Canadian rig counts (Baker Hughes or BHI) will peak in the next couple of weeks for the onset of the spring thaw. This is the seasonal downturn in rig counts which historically begins in early March, depending on weather conditions, and lasts through late April.
The vernal equinox (i.e. spring in the Northern Hemisphere) is but three weeks away. We are on the down slope of weather induced drawdowns in heating Btu stocks (natural gas, high sulfur diesel and propane). The pitch of this negative weather-demand function will steepen in the weeks ahead.
The UAW trust (VEBA) earned around $3.4 billion last November by selling a third of its allotted stake (102 million shares at $33 per) in G.M.’s IPO. Analysts’ estimates peg the VEBA’s break-even on its remaining shares at $37.
Oil prices, now topping $100 a barrel, could hit $120, energy financier T. Boone Pickens, chairman and CEO of BP Capital, and an advocate of replacing oil with natural gas in some applications, told CNBC Friday.
Oil prices have seen wild moves in recent days amid increasing violence in the Mideast, but the options market is telling us the roller-coaster ride may be over.
If Saudi raised oil production to 9 million barrels per day, then they've chosen a good time to do it.
Good King Abdullah of Saudi Arabia figures that $36 billion will buy off any potential unrest in his realm of Saudi Arabia. That's an expensive piece of cake he's dishing up.
Here we go again… Nymex crude oil failed to trade at $100 yesterday in the electronic market, but that apparently did not prevent some yahoo down on the floor of the Nymex from buying $100 WTI anyway.