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  • In December Moody's and Standard& Poor's lowered the Oklahoma City, Oklahoma company's credit rating further into junk territory as crude oil lingered around $30 a barrel, a price that severely saps the cash flow of U.S. shale operators. As of Feb. 24, Chesapeake said it had received requests to post about $220 million in collateral, of which it posted...

  • U.S. official data shows Cushing at record of 65.1 mln bbls. "Throwing in a further Cushing build to the overall record in stocks makes it very difficult for this market to rally," said Pete Donovan, broker at New York's Liquidity Energy. U.S. crude futures were down 85 cents at $31.30 a barrel by 11:28 a.m. EST, after falling more than $1 earlier.

  • U.S. crude futures were down $1 at $31.15 a barrel by 10:50 a.m. EST. Brent crude futures also fell $1 to $33.41 a barrel. "Throwing in a further Cushing build to the overall record in stocks makes it very difficult for this market to rally," said Pete Donovan, broker at New York's Liquidity Energy.

  • WTI's outlook has deteriorated since as stockpiles of crude mounted across the United States, especially in Cushing, Oklahoma, the delivery point for the U.S. crude futures. "The Brent trade remains surprisingly stout in continuing a sideways or consolidation phase that is approaching one month in duration," said Jim Ritterbusch, president at Chicago- based oil...

  • NEW YORK, Feb 24- U.S. crude oil stocks rose to a second consecutive record high last week as refinery utilization fell, while gasoline inventories fell for the first time since November, data from the Energy Information Administration showed on Wednesday. On the Gulf Coast, crude stockpiles also rose to the highest on record, up 4.4 million barrels to 255.6...

  • CHICAGO, Feb 23- Efforts by hog farmers to corral a killer pig virus paid off in January, with U.S. warehouses recording the most pork ever for that month, based on Tuesday's U.S. Department of Agriculture Cold Storage report. Pork storage comparisons to 1915 should be put into context, said David Maloni, chief commodity strategist with the American Restaurant...

  • *Iran not expected to join pact to freeze output. NEW YORK, Feb 23- Oil prices tumbled 4 percent on Tuesday after Saudi Oil Minister Ali Al-Naimi ruled out production cuts, and extended losses after settlement when a U.S. industry trade group API said domestic crude stockpiles swelled by more than twice what analysts had expected. Big oil exporters Saudi Arabia and...

  • HOUSTON, Feb 18- It was a head fake that left Wall Street scratching its head. Dave Hager, Devon Energy Corp's chief executive, on Wednesday downplayed the need for a stock offering, telling analysts the oil producer would prefer to sell assets and cut its dividend to protect its balance sheet. Analysts criticized the Oklahoma City- based company in investor notes,...

  • NEW YORK, Feb 18- U.S. crude oil and gasoline inventories rose last week to new record highs as imports of crude grew and refineries increased output, data from the Energy Information Administration showed on Thursday. "The negative aspect is overall crude builds, which counter industry figures from yesterday that showed a drop, in the midst of refinery...

  • *Community Health tumbles after unexpected loss. Feb 16- Wall Street minted its second straight session of solid gains on Tuesday, as investors snatched up beaten-down consumer discretionary, industrial and tech shares. Slumping oil prices, fears of a China- led slowdown in global growth and uncertainty over central bank monetary policies have roiled the...

  • *Europe stocks erase gains, close lower as energy weighs. *Wall Street gains as financials, consumer discretionary lead. Top oil exporters Russia and Saudi Arabia agreed to freeze output levels but said the deal was contingent on other producers joining in, a major sticking point with Iran absent from the talks and determined to raise production.

  • *Saudi, Russia, Qatar and Venezuela may freeze, not cut, output. NEW YORK, Feb 16- Brent oil fell almost 4 percent on Tuesday, erasing early gains after top producers Russia and Saudi Arabia dashed expectations of an outright supply cut by agreeing only to freeze output if other big exporters joined them. Benchmark Brent prices jumped briefly through $35 a barrel...

  • *Saudi, Russia, Qatar and Venezuela to freeze, not cut, output. NEW YORK, Feb 16- Brent oil fell 3 percent on Tuesday, erasing early gains after top producers Russia and Saudi Arabia dashed expectations of an outright supply cut by agreeing only to freeze output if other big exporters joined them. Benchmark Brent prices jumped briefly through $35 a barrel after Russia...

  • *Saudi, Russia, Qatar and Venezuela to freeze, not cut, output. NEW YORK, Feb 16- Brent oil fell 3 percent on Monday, erasing early gains after top producers Russia and Saudi Arabia dashed expectations of an outright supply cut by agreeing only to freeze output if other big exporters joined them. Benchmark Brent prices jumped briefly through $35 a barrel after Russia...

  • 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...