Oil and Gas Oil and Gas Storage

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  • SINGAPORE, April 22- Oil prices rose in Asian trade on Friday, setting crude futures on course for solid weekly gains, as market sentiment becomes more upbeat despite ongoing oversupply. International benchmark Brent crude futures were trading at $44.98 per barrel at 0418 GMT, up 45 cents or 1 percent from their last settlement. West Texas Intermediate crude was...

  • SINGAPORE, April 22- Oil prices rose in Asian trade on Friday, setting crude futures on course for one of their biggest weekly gains this year, as sentiment has become more upbeat despite ongoing oversupply. International benchmark Brent crude futures were trading at $45.09 per barrel at 0054 GMT, up more than half a dollar from their last settlement.

  • Oil closes near session high

    CNBC's Jackie DeAngelis reports on the close of the oil market at the end of the May contract.

  • LONDON, April 19- Crude oil storage helped commodity traders and refiners make strong profits last year and in the first quarter of 2016 but now the price structure which made it possible is evaporating. In a typical storage strategy, known as "cash and carry," traders buy physical crude and put it into storage in a tank farm, or more rarely on a tanker at sea.

  • LOS ANGELES, April 18- Hundreds of Los Angeles homeowners who live near the site of the worst U.S. methane leak have filed claims against state regulators and the governor, seeking $3.5 million each in damages for government failures they blame for the gas blowout. Those cases marked the first batch of more than 3,000 such claims expected by the end of this week,...

  • SINGAPORE, April 18- Oil prices tumbled on Monday after a meeting by major exporters in Qatar collapsed without an agreement to freeze output, leaving the credibility of the OPEC producer cartel in tatters and the world awash with unwanted fuel. Tensions between Saudi Arabia and Iran were blamed for the failure, which revived industry fears that major...

  • *Saudi, Iran tensions scupper producer deal to freeze output. SINGAPORE, April 18- Oil prices tumbled on Monday after a meeting by major producers in Qatar collapsed without an agreement to freeze output, leaving the credibility of the OPEC producer cartel in tatters and the world awash with unwanted fuel. Geopolitical tensions between Saudi Arabia and Iran...

  • Pipelines and oil storage tanks in Cushing, Okla.

    Oil prices may be tanking in the wake of a failed attempt to freeze production, but Citi is betting on a recovery in prices.

  • Iran: The oil wildcard?

    Helima Croft, Managing Director and Global Head of Commodity Strategy at RBC Capital Markets, and John Kilduff, Partner at Again Capital LLC, discuss whether we'll see a deal coming out of the oil producers' meeting in Doha.

  • Where's energy headed?

    Discussing the outcomes of the oil producers meeting in Doha this weekend with Kyle Cooper, Criterion Research founding partner, and Kent Moors, executive chairman at Energy Capital.

  • Three state regulatory bodies and the city Water and Power Department warned last week the region faced up to 14 days of blackouts this summer as gas-fired power plants go without supplies normally furnished by the crippled Aliso Canyon field when electricity demand peaks. Southern California Gas Co, the division of San Diego- based utility giant Sempra...

  • SINGAPORE, April 12- Oil prices were stabile on Tuesday, with U.S. crude futures holding above $40 per barrel and Brent approaching $43 ahead of a meeting of major producers to discuss freezing output levels to rein in ballooning oversupply. International Brent crude futures were up 5 cents at $42.88 a barrel, only 18 cents off their 2016- high reached the...

  • SINGAPORE, April 12- Oil prices dipped on Tuesday, but both U.S. and international crude futures held above $40 per barrel ahead of a meeting of major producers to discuss freezing output levels to rein in ballooning oversupply. International Brent crude futures were at $42.69 a barrel, 14 cents below their last close, but only 37 cents off their 2016- high reached...

  • SINGAPORE, April 12- Oil prices dipped in early Asian trade on Tuesday, but both U.S. and international crude futures held above $40 per barrel ahead of a meeting of major producers to discuss freezing output levels to rein in ballooning oversupply. International Brent crude futures were at $42.70 a barrel, 13 cents below their last close but only 36 cents off...

  • The oil and natural gas producer, which did not identify the buyers, said it will divest all of its Wyoming upstream and midstream assets for $870 million, excluding closing adjustments. The Wyoming properties, mainly waterflood developments in the Big Horn and Wind River basins, averaged 16,500 barrels of oil equivalent per day in first quarter 2016...

  • NEW YORK, April 8- TransCanada Corp expects to restart its Keystone crude pipeline by Saturday, upon receiving conditional approval from the Pipeline and Hazardous Materials Safety Administration, the company said in emailed statement on Friday. The pipeline, which delivers crude from Hardisty, Alberta, to Cushing, Oklahoma and to Illinois, was shut last...

  • LONDON, April 8- Oil refineries are shifting into high gear to produce as much gasoline as possible for the world's fuel-hungry drivers- kicking the problem of a worsening diesel glut further down the road. The "margin" or profit derived from refining crude into diesel has plunged in Europe, hitting multi-year lows this week as demand for the fuel- used heavily for...

  • LOS ANGELES, April 5- Electrical generators in the greater Los Angeles area face up to 14 days of natural gas shortages severe enough to cause blackouts this summer in the aftermath of the months-long methane leak from the Aliso Canyon gas storage field, state energy officials warned on Tuesday. Aliso Canyon, owned by Southern California Gas Co, a division of San...

  • April 5- California state and local energy agencies on Tuesday released a plan to help keep the lights on in the greater Los Angeles area this summer, following a major natural gas leak at the Aliso Canyon underground natural gas storage facility. Currently, Aliso Canyon, owned by Sempra Energy's Southern California Gas unit, is prohibited from injecting and...

  • Kuwait's OPEC governor expects output freeze

    Kuwait's OPEC governor Nawal Al-Fuzaia says all signs point to an initial agreement to freeze oil production levels.