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  • NEW YORK, Feb 12- For the past six years, U.S. refiners from Texas to Philadelphia have bought every barrel of crude they can lay their hands on to cash in on a golden era of healthy margins. Now, at least five refiners- including two of the country's largest- have voluntarily cut output of gasoline and distillate in the most widespread cuts since the global financial...

  • *WSJ report of likely OPEC production cut helps pare losses. Prices came off session lows in post-settlement trade after the Wall Street Journal quoted UAE's energy minister as saying OPEC was ready to cooperate on production cuts. Most traders were skeptical, noting that Venezuela and Russia recently called in vain for OPEC and other major oil producers to...

  • *Traders rush to buy $25 puts for U.S. crude. *Goldman sees U.S. crude at $20- $40 until second half of 2016. *Iran offers crude to Asia at discount to Saudi Arabia.

  • *Iran offers crude to Asia at discount to Saudi Arabia. *Goldman sees U.S. crude at $20- $40 until second half of 2016. On Wednesday, U.S. government data showed Cushing inventories hit all-time highs just shy of 65 million barrels during the week ended Feb. 5.

  • *Iran offers crude to Asia at discount to Saudi Arabia. LONDON, Feb 11- Oil slid on Thursday, dented by record U.S. crude inventories at the Cushing delivery point, worries about the demand outlook, and as Goldman Sachs said prices would remain low and volatile until the second half of the year. In a sign that producers are still competing for market share by lowering...

  • *Inventories at Cushing delivery point hit record highs. SINGAPORE, Feb 11- Oil prices slid on Thursday as record U.S. crude inventories at the Cushing delivery point and worries about a global economic slowdown weighed on markets, and Goldman Sachs said prices would remain low and volatile until the second half of the year. Inventories at the Cushing, Oklahoma...

  • International benchmark Brent crude futures were trading at $60.62 per barrel at 0117 GMT, down 22 cents. West Texas Intermediate crude futures were at $26.96 per barrel, down 49 cents and within a dollar of the $26.19 a barrel 2003 low from January. Inventories at the Cushing, Oklahoma delivery point for U.S. crude futures rose to an all-time high just shy of 65...

  • U.S. crude oil prices fall as inventories hit record high Wednesday, 10 Feb 2016 | 7:35 PM ET

    West Texas Intermediate crude futures were trading at $27.37 per barrel at 0022 GMT, down 8 cents from their previous close and more than 20 percent below a peak reached in late January following a brief rally. Inventories at the Cushing, Oklahoma delivery point for U.S. crude futures rose to an all-time high just shy of 65 million barrels, data from the...

  • *EIA says Cushing crude stocks hit record near 65 mln bbls. The Cushing build eclipsed a more bullish number from the EIA showing total U.S. crude stockpiles down for the first time in three weeks. "Since we are going into refinery maintenance season, and coupled with Iranian oil coming into the market, any rally will be short-lived," said Tariq Zahir, crude trader and...

  • NEW YORK, Feb 10- U.S. crude prices fell 2 percent on Wednesday after stockpiles at the main U.S. delivery point hit record highs, while Brent rose for the first time in five days after Russia suggested oil producers cut output by a million barrels each. The Cushing build eclipsed a more bullish number from the EIA showing total U.S. crude stockpiles down for the first...

  • *Russia's Sechin floats idea of oil output cuts. NEW YORK, Feb 10- Oil prices seesawed in choppy trade on Wednesday, with U.S. crude slipping and Brent paring gains as worries about a global supply glut offset data showing a surprise drop in U.S. crude stockpiles. OPEC data pointed to a larger oil supply surplus on the world market this year than previously thought, as...

  • *Russia's Sechin floats idea of oil output cuts. NEW YORK, Feb 10 (Reuters)- U.S. oil prices fell on Wednesday, reversing an early rally, and Brent also pared gains as worries about the global supply glut offset encouraging U.S. government data showing a surprise drop in domestic crude stockpiles. "We believe there's been short covering on the headline and we feel we...

  • NEW YORK, Feb 10- U.S. crude stockpiles fell unexpectedly last week as imports slumped, while gasoline inventories hit a record high for a second week, data from the Energy Information Administration showed on Wednesday. U.S. crude futures initially rose on the news, topping $29 a barrel, but quickly retreated, and was at $27.85, down 9 cents on the day by 11:03 a.m....

  • Paycom beats Street 4Q forecasts Tuesday, 9 Feb 2016 | 6:29 PM ET

    OKLAHOMA CITY _ Paycom Software Inc. on Tuesday reported fourth-quarter profit of $5.2 million. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share. Five analysts surveyed by Zacks expected $61.2 million.

  • OKLAHOMA CITY— Hundreds of millions of dollars in state tax breaks would be reduced or delayed under bills approved by a Senate committee on Tuesday, including a second potential reduction in Oklahoma's income tax as lawmakers look to fill a $1 billion hole in next year's budget. But the bills' passage suggests a willingness in the Republican-controlled...

  • Panhandle Oil & Gas reports 1Q loss Monday, 8 Feb 2016 | 4:39 PM ET

    OKLAHOMA CITY _ Panhandle Oil and Gas Inc. on Monday reported a fiscal first-quarter loss of $2.8 million, after reporting a profit in the same period a year earlier. Panhandle Oil& Gas shares have dropped 9 percent since the beginning of the year. Keywords: Panhandle Oil& Gas, Earnings Report.

  • With more than $10 billion in bonds, the oil and gas producer's balance sheet is under pressure and its equity market capitalization is around just $1.2 billion. That is plenty to pay $500 million in debt due in March, though at least another $1.3 billion will come due through 2018.. Once a Wall Street darling that in many ways symbolized the U.S. fracking...

  • It reported cash on hand of about $1.8 billion on Sept. 30, according to public filings. That is plenty to pay $500 million in debt due in March, though another $1.3 billion will come due through 2018.. Chesapeake, once a Wall Street darling, has struggled since a governance crisis prompted the departure of its founder and former Chief Executive Aubrey McClendon in...

  • The company's shares plunged 51 percent to $1.50 in early trading. Chesapeake, which has more than $10 billion in debt, has been hit by a steep fall in both oil and gas prices. Chesapeake reported cash and cash equivalents of approximately $1.8 billion on Sept. 30, according to public filings.

  • NEW YORK— Chesapeake Energy sought to assure investors Monday that it is not planning to file for bankruptcy protection. The Oklahoma City company has slashed spending, sold assets and cut jobs to save money. For the nine months ended Sept. 30, Chesapeake Energy lost $12.63 billion, or $19.07 per share, compared with a year-earlier profit.