The fallout from the diplomatic dispute between Russia and Ukraine will continue to affect the oil price for months, according to the International Energy Agency.» Read More
HEATING OIL FUTURES EXTEND GAINS AFTER EIA DATA REPORTS LARGER-THAN-EXPECTED DISTILLATES DRAW.
NEW YORK, Jan 31- The commodities complex had its second consecutive monthly gain in January as markets such as arabica coffee and heating oil finished up sharply on Friday to join the month's big winner, natural gas. "Natural gas was really rocking this month," said Gene McGillian, energy analyst at Tradition Energy in Stamford, Connecticut.
NEW YORK, Jan 23- U.S. ultra low-sulfur diesel futures, more commonly known as heating oil, rose to a session high on Thursday after U.S. government data showed a larger-than-expected draw in distillate stocks. Distillate stocks fell by 3.21 million barrels last week, compared with expectations of a 900,000- barrel draw in a Reuters poll.
Rising U.S. oil production will help neutralize supply disruptions from Libya and Iraq, making global markets less vulnerable to price shocks.
The United States continued its "relentless rise" in crude oil production in 2013, the IEA reported on Tuesday.
NEW YORK, Jan 17- Gold rose on Friday to finish up for a fourth straight week after weakness in U.S. equities and strong Asian physical demand and fund buying for bullion, and gasoline and heating oil also rose to lead gains across commodities.
The price of oil could come under "serious downward pressure" as the nuclear deal between Iran and six world powers kicks in next week.
SINGAPORE, Jan 10- U.S. crude futures rose above $92 a barrel in early Asian trading on Friday, after touching an eight-month low in the previous session, pulled down by a drop in demand for heating oil and speculation over withdrawal of stimulus money. *U.S. crude for February delivery rose 73 cents to $92.39 per barrel at 0028 GMT.
Any slowdown in China won't have a long term effect on the price of oil, says Malcolm Graham-Wood, founding partner at Hydrocarbon Capital.
The yearlong average price of gasoline in 2014 will fall below $3.40 per gallon for the first time since 2010, GasBuddy's survey said.
Through the hustle and bustle of OPEC's meeting in Vienna on Wednesday, Iranian Oil Minister Bijan Namdar Zangeneh sent out an invite to global oil majors.
Saudi Arabia's oil minister downplays the threat of oversupply despite Iran looking to ramp up its production even if oil hits $20 a barrel.
Nigeria is aggressively tackling oil theft in the country, oil minister Diezani Alison-Madueke told CNBC on Wednesday in a TV interview.
The recent easing of prices may be relatively short‐lived, the International Energy Agency said on Thursday, as demand picks up and production problems in Libya and Iraq continue to weigh on supply.
Oil producers and consumers will continue to face uncertainties and challenges due to the sluggish recovery, OPEC said.
The former CEO of Chesapeake Energy is about to close on $1.8 billion in equity and debt financing for a new exploration and production company.
Benchmark crude prices are likely to extend declines this week as the risk of imminent U.S.-led military action against Syria diminishes.
Reforms that would open up Mexico's energy industry were less aggressive than some oil companies would have liked, but the proposed changes are still likely to have their winners.
Even after U.S. crude finally eliminated a three-year discount versus global benchmark Brent, some cash markets are sending a curious signal: refiners are ready to pay even more.
Chevron and other oil firms in the Gulf of Mexico are prepped for the worst as the 2013 hurricane season kicks off officially on Saturday. Here is an inside look from one platform.