Oil and Gas Oil and Gas Storage

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  • *Goldman cuts 2015, 2016 outlook; Commerzbank also pares forecast. NEW YORK, Sept 11- Crude futures fell about 3 percent on Friday after Wall Street's most influential voice in oil trading, Goldman Sachs, slashed its price outlook through next year, citing oversupply and concerns over China's economy. Joining Germany's Commerzbank and a long list of other banks...

  • LONDON, Sept 11- U.S. commercial crude stocks are still close to their highest levels in over 80 years, but operational requirements prevent refineries filling on-site storage facilities to their maximum capacity. An increasing proportion of U.S. crude oil stocks is held in off-site tank farms, some owned or leased by refiners themselves, but many owned or...

  • LONDON, Sept 11- U.S. commercial crude stocks are still close to their highest levels in over 80 years, but operational requirements prevent refineries filling on-site storage facilities to their maximum capacity. An increasing proportion of U.S. crude oil stocks is held in off-site tank farms, some owned or leased by refiners themselves, but many owned or...

  • --Clyde Russell is a Reuters columnist. The views expressed are his own.--. SINGAPORE, Sept 9- If you were looking for a bright spot in China's dismal trade numbers for August, your eyes may be tempted to focus on crude oil imports.

  • LONDON, Sept 8- U.S. oil markets have been transformed over the last decade by the emergence of oil trading and storage as a major business in its own right, separate from production and refinery operations. Commercial crude stockpiles had climbed by more than 100 million barrels since the end of 2004, almost 38 percent, according to annual data published by the...

  • FRANKFURT/ MILAN, Sept 4- Russia's Gazprom increased its industrial muscle in the heart of Europe on Friday, bulking up through deals on asset swaps and more pipeline capacity with energy companies keen to get back to business as usual. Gazprom secured access to western European gas storage as well as a deal with industry partners to double the capacity of the...

  • HOUSTON, Sept 1- Demand for crude storage in the Caribbean, one of the world's most important oil hubs, is rising as producers and traders try to ride out the worst price crash in six years by holding onto more barrels or making blends that can be sold for premiums. Midstream players Buckeye Partners LP and NuStar Energy LP say they have basically run out of space.

  • New contender for 'worst commodity' crown: LNG Monday, 31 Aug 2015 | 9:25 PM ET

    Asian LNG prices could fall 25% in a perfect storm of new supply, falling demand and weaker oil prices.

  • Aug 24- Pipeline company Energy Transfer Equity LP is bidding for Magnum Hunter Resources Corp's stake in natural gas gathering unit Eureka Hunter Holdings, Bloomberg reported, citing people familiar with the matter. Magnum Hunter began working with the Bank of Montreal to auction its stake in Eureka Hunter after Energy Transfer made an unsolicited bid for...

  • ANALYSIS-Get used to cheap oil, derivatives markets say Wednesday, 19 Aug 2015 | 7:18 AM ET

    *Five-year spreads below $20; near $30 in 2008/ 9. Contracts for delivery of crude oil in the future on the big commodities markets such as the New York Mercantile Exchange and the InterContinental Exchange show the price of oil in five years' time has collapsed in recent months. U.S. crude now costs around $42 a barrel for delivery next month, and only about $20 more...

  • LONDON, Aug 17- Hedge funds remained unusually bearish on U.S. oil prices last week even as the cost of WTI tumbled towards the lowest level since 2009.. Hedge funds and other money managers held short positions in WTI-linked futures and options equivalent to more than 193 million barrels of oil, according to the U.S. Commodity Futures Trading Commission.

  • An energy play that nobody's talking about Thursday, 23 Jul 2015 | 12:38 PM ET
    Flared natural gas is burned at an Apache natural gas plant in the Permian Basin in Garden City, Texas.

    Companies are plowing billions into infrastructure projects, making long-term bets that demand for nat gas will keep growing.

  • Why the price of crude oil will remain stagnant Thursday, 16 Apr 2015 | 11:24 PM ET
    Why the price of crude oil will remain stagnant

    Michael Yoshikami, founder & CEO of Destination Wealth Management, expects oil that was previously kept in storage to hit the market over the next 45-90 days thereby keeping prices low.

  • Goldman: Oil prices must 'stay low for longer' Tuesday, 7 Apr 2015 | 9:56 AM ET
    Pipelines and oil storage tanks in Cushing, Okla.

    U.S. oil inventory and capex falls may boost prices modestly near term, but production growth is still too strong for substantial gains, Goldman said.

  • How should Yellen address a strong dollar? Monday, 16 Mar 2015 | 5:50 AM ET
    How should Yellen address a strong dollar?

    Alan Knuckman, chief options strategist at Bulls-Eye Options, talks about the upcoming Federal Reserve meeting, the strong dollar and the gold market.

  • How low can crude go? Friday, 13 Mar 2015 | 7:32 AM ET
    How low can crude go?

    Edward Morse, Citi commodities research, discusses what's driving oil price lower as the commodity wanders further into bear territory.

  • Canada: Even the newest oil tank cars are outdated Wednesday, 11 Mar 2015 | 7:33 PM ET

    The Canadian government unveiled tougher new proposed oil tank car standards.

  • Goldman's Gary Cohn: Beware $30 oil Wednesday, 11 Mar 2015 | 12:09 PM ET
    Gary Cohn, Goldman Sachs

    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.

  • Saudi Arabia expects oil price to stabilize Wednesday, 4 Mar 2015 | 9:03 AM ET
    Saudi Arabian Oil Minister Ali al-Naimi

    Saudi Arabia's oil minister said he expected oil prices, which hit a near six-year low in January, to stabilize, signalling cautious optimism.

  • Are oil producers running out of closet space? Wednesday, 25 Feb 2015 | 5:51 PM ET
    Oil tanks and pump jacks are seen in an oil field near Bakersfield, Calif.

    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.