NEW YORK— Energy company Encana Corp. is selling its Haynesville natural gas assets in Louisiana in northern Louisiana to GEP Haynesville LLC for $850 million. Encana will use the proceeds from the sale to reduce debt. Canadian-based Encana also said it will reduce its gathering and midstream commitments, which will be substantially complete through 2020,...» Read More
Edward Morse, Citi commodities research, discusses what's driving oil price lower as the commodity wanders further into bear territory.
The Canadian government unveiled tougher new proposed oil tank car standards.
Goldman Sachs President Gary Cohn tells CNBC he is concerned about the short-term window for oil and said crude prices could fall to $30 a barrel.
SINGAPORE, March 9- Traders who have been storing oil since the start of the year are selling some supplies back into the market, completing a trade-play that made oil storage profitable, and re-injecting fuel into an already oversupplied market. The selling signals a winding down of a strategy that has seen at least 50 million barrels of oil stored in tankers,...
FUJAIRAH, United Arab Emirates, March 5- Vopak, the world's largest independent storage tank operator, is expanding its chemical product storage capacity in Saudi Arabia, a senior executive told Reuters on Thursday. Vopak, which offers oil, chemical and biofuels storage in the world's top bunkering hubs Singapore and Rotterdam, as well as on the east coast of the...
Saudi Arabia's oil minister said he expected oil prices, which hit a near six-year low in January, to stabilize, signalling cautious optimism.
Oil supply running ahead of demand hasn't just pressured prices, it's also filling up storage space, potentially pushing crude toward another leg down.
The sharp drop in U.S. oil rig counts has helped lift crude prices off their lows, but it won't slow production or alleviate oversupply, Goldman said.
The International Energy Agency (IEA) has released a warning saying that the oil prices may continue to fall, as crude oil stocks increase. Maria van der Hoeven, executive director at IEA, discusses the findings, saying that the "future market will never be the same" as before.
Has the oil price finally hit a bottom? Dennis Gartman, founder and editor of the Gartman Letter, explains why it could fall to as low as $20 per barrel.
Oil prices have rallied off post-crisis lows, possibly marking the rout's bottom as producers' cutbacks begin pinching supply, some analysts said.
A global oversupply in oil and lack of storage make it very likely that oil will slide into the $30s, Citi's Ed Morse told CNBC.
Hedge fund buying may be partly behind the recent rebound in battered oil prices, former Shell Oil President John Hofmeister tells CNBC.
Oil prices are in the midst of a prolonged slump, squeezing bottom lines everywhere. How do sovereign wealth funds cope?
Some of the world's biggest oil traders have booked supertankers to store at least 25 million barrels at sea, to take advantage of lower prices.
The oil price is nearing a 6-year low. Richard Mallinson, geopolitical analyst at Energy Aspects, says markets are looking for "a turning point" in oil production and it will end up being non-OPEC countries that cut supplies.
Gareth Lewis-Davies, senior oil strategist at BNP Paribas, says that China is building up a strategic stock of oil, and that low prices provide a "good opportunity to dip into the market and accelerate purchases."
A twist of fate has made slumping gas prices fuel a discussion once thought to be anathema in a Republican-led Congress: higher gas taxes.
In order to stem the free fall in oil prices, one of three key things must be done, says Sabine Schels, a commodity strategist at BofA Merrill Lynch Global Research.
Enterprise Products Partners is shelving a pipeline that would have transported crude from North Dakota to Oklahoma, the company said Friday.