MINNEAPOLIS— Minnesota Pipe Line Co. announced plans Thursday to nearly double the capacity of a crude oil pipeline that carries oil from Canada and North Dakota to the two refineries in the Twin Cities that produce most of Minnesota's and much of Wisconsin's transportation fuels.» Read More
*Riyadh to shift away from U.S. over Syria- source. LONDON, Oct 22- Brent crude oil rose above $110 per barrel on Tuesday, pulling its premium above U.S. light crude to the widest in six months, after news of a deterioration in relations between the United States and key OPEC oil producer Saudi Arabia.
LONDON, Oct 22- Brent crude oil rose above $110 per barrel on Tuesday, pulling its premium above U.S. light crude oil to its widest in six months, after reports of a deterioration in relations between the United States and key OPEC oil producer Saudi Arabia.
BEIJING, Oct 22- Russian energy companies signed a slew of deals with China on Tuesday, seeking to lock in sales to fund costly production and pipeline projects that will direct exports away from Europe to Asia.
As is often the case with China there are contradictory indicators that serve to muddy both the current state of its oil markets and the likely future trends. This helped to make China the world's largest net oil importer, ahead of the United States, a situation that is likely to persist, according to the U.S. Energy Information Administration.
BEIJING, Oct 22- Russia's top crude producer Rosneft and China's largest state refiner Sinopec Group will sign a memorandum of understanding on advance payments for Russian oil exports to China, according to announcements made on Tuesday.
Options traders spotted high call volume in 3 refiners today: Phillips 66, Tesoro and Valero. Analyzing the action, with CNBC contributor Mike Khouw of Dash Financial Group.
Meryl Witmer, Eagle Capital Partners, reveals what she's learned from Wall Street legends. They all seem to have one thing in common, she says, they're "confident but humble" and are willing to change their minds.
Pavel Molchanov, Raymond James energy analyst, provides his views on where energy prices are likely headed with issues in Syria escalating.
The U.S. is now the largest exporter of petroleum products. CNBC's Jackie DeAngelis reports on the growing demand for refined energy.
CNBC's Jackie DeAngelis takes a look at American companies looking to cash in on increased demand for refined products.
Jason Gammel, head of European oil and gas research at Macquarie Securities, says Exxon results will be below expectations as the company's oil production fails to grow.
CNBC's Bertha Coombs is joined by Tom Reilly, SCS Commodities to discuss WTI's resurgence which is driving oil prices higher.
Oil prices should be about half of today's $105 a barrel by the end of the year, but that doesn't translate to $2 a gallon gas prices, Gulf Oil CEO Joe Petrowski tells CNBC.
Valero says surging crude is hitting the company's margins, and the FMHR traders debate how to trade refiners. Betsy Graseck, Morgan Stanley, provides insight on impressive bank earnings. "Rising home prices will be a tail wind to large cap banks" says Graseck.
Andy Lipow, president of Lipow Oil Associates, talks about the huge drop in inventories. "World oil demand is growing," he said, and he expects sticker shock for consumers.
The average price of gasoline in the United States dipped over the past two weeks thanks to large falls in Midwestern states, a survey issued on Sunday showed.
The world is heading for a glut of refined products as new Asian and Middle East refineries increase oil processing in a move likely to force less advanced competitors in developed countries to close, the West's energy agency said on Wednesday.
Drivers in the Midwest have been hit with a big gas pump shock, reports CNBC's Sue Herera.
Louisiana's "Refinery Row" is getting ready for this year's hurricane season, reports CNBC's Scott Cohn.
Faisel Khan, senior analyst at Citi, offers insight on big oil names.