Top News & Analysis Oklahoma

  • *But soaring crude output in Iraq, Iran compounds glut. LONDON, April 8- Oil prices rose on Friday, lifted by hopes that a punishing global excess of crude oil could be nearing a tipping point and firm economic indicators from the United States and Germany that cast a positive light on growth in fuel demand. "You have declining supply in the United States and a...

  • *But soaring crude output in Iraq, Iran compounds glut. LONDON, April 8- Oil prices rose on Friday, lifted by fresh hopes over a proposed freeze in oil production and firm economic indicators from the United States and Germany that cast a positive light on growth in fuel demand. "You have declining supply in the United States and a declining rig rate," said Bjarne...

  • April 7- TransCanada Corp said on Thursday about 400 barrels could have spilled in South Dakota from its 590,000 barrel-per-day Keystone crude oil pipeline. The company said it provided the spill volume estimate to regulators on Thursday morning based on the excavation of soil to expose over 100 feet of pipe while it continues to investigate the source of the...

  • *Data shows Cushing build on week to Apr 5 despite Keystone. "The energy trade remains choppy amidst fundamental and macroeconomic cross-currents that are shifting daily," Jim Ritterbusch of Chicago- based oil markets consultancy Ritterbusch& Associates said in a note. The build came even though TransCanada Corp had shut since Saturday its 590,000 barrels per...

  • *Data shows Cushing build on week to Apr 5 despite Keystone. The build came despite TransCanada Corp having shut since Saturday its 590,000 barrels per day Keystone crude pipeline that moves crude to Cushing and Illinois. Genscape did note a 481,485- barrel decline at Cushing in the five days to Tuesday, apparently due to the Keystone shutdown that was caused by...

  • NEW YORK/ HOUSTON, April 6- The sudden closure and subsequent delay in restarting the Keystone crude pipeline has caused traders to sell off heavy Canadian oil for immediate delivery, trading sources said on Wednesday, while temporarily lending support to U.S. futures markets. The line, which delivers crude from Hardisty, Alberta to Cushing, Oklahoma, and on to...

  • NEW YORK, April 6- Oil prices surged more than 5 percent on Wednesday, heading for their largest gain in three weeks, after the U.S. government reported a surprise draw in domestic crude stockpiles versus market expectations for a new record high. Crude stocks unexpectedly fell 4.9 million barrels last week as refineries continued to hike output and imports...

  • NEW YORK, April 6- TransCanada Corp is delaying the restart of its 590,000 barrel per day Keystone crude pipeline to Tuesday from Friday, four traders familiar with the matter said on Wednesday. The line, which delivers crude from Hardisty, Alberta to Cushing, Oklahoma, and to Illinois, was shut over the weekend after a potential leak. Time spreads in the benchmark...

  • April 6- U.S. crude oil inventories unexpectedly fell from record highs last week as refineries continued to hike output and imports fell, while gasoline stocks rose, snapping a six-week decline, data from the Energy Information Administration showed on Wednesday. The EIA report was "modestly supportive" with the jump in refinery runs and fall in imports "...

  • NEW YORK, April 5- The sudden closure of the Keystone oil pipeline from Canada has forced Phillips 66 to shut several units at its Illinois refinery, sources said on Tuesday, as the ripple effects of disrupting one of the largest U.S. import lines spread. TransCanada Corp said it had shut its 590,000 barrel per day Keystone pipeline system, which carries light and...

  • CUSHING, OK, April 5- From the air above this small Oklahoma town, the 300 steel oil storage tanks that dot the landscape appear filled to the brim, their floating lids bobbing atop more than 65 millions of barrels of oil. Such worries make weekly estimates of Cushing stockpiles from the Energy Information Administration one of the hottest market indicators.

  • NEW YORK, April 4- Oil prices fell more than 2 percent on Monday, with Brent touching one-month lows, as investors doubted that producing countries will freeze output to rein in a worldwide glut. "It appears that the speculative longs that were enticed toward the buyside of the energy complex through most of the first quarter by the upcoming production freeze...

  • *Iran says it aims to regain pre-sanctions output. *Saudis back output freeze output only if Iran participates. Iran will raise its crude output and exports until it reaches pre-sanction levels, the semi-official Mehr news agency quoted Oil Minister Bijan Zanganeh as saying.

  • *Investors buy soybeans, sell corn after USDA report. May corn on the Chicago Board of Trade was off 3-1/ 4 cents or 0.9 percent at $3.48-1/ 4 a bushel at 10:11 a.m. CDT. "That's just going to take all the steam out of being long corn for potential crop trouble until we get into third, fourth week of April," said Bill Gary, president of Commodity Information Systems in...

  • With U.S. oil prices now trading below $40 a barrel, the corporate casualties are already mounting. Texas- based Magnum Hunter Resources, the second-largest producer among publicly-traded companies that have filed for bankruptcy, is a case in point. Once in Chapter 11, its CEO Gary Evans said the bankruptcy, which injected new funds to ensure it would stay...

  • *Brent price seen averaging $40.90, WTI $39.70 in 2016- Rtrs poll. NEW YORK, March 31- Oil prices jumped more than 10 percent in March in the best quarter since mid-2015 although some analysts said the rally could fade soon as an output freeze plan by major crude exporters fails to alleviate worries of a glut. "Oversupply still persists due to resilient U.S....

  • *Dollar at Oct low, Cushing draw over 800,000 barrels reported. *OPEC production up this month despite freeze proposal. "Oversupply still persists due to resilient U.S. production, even if declining moderately; high OPEC output, led by Saudi Arabia and Iraq; and the gradual return of Iran starting Q1 2016," said Mike Wittner, global head of oil research at Societe...

  • NEW YORK, March 30- U.S. crude oil stockpiles rose less than expected last week as imports fell and refinery runs rose, while gasoline and distillate inventories drew down, data from the Energy Information Administration showed on Wednesday. "Large decline in imports likely contributed to the smaller-than-expected crude oil build," said Dominic Chirichella,...

  • March 30- SandRidge Energy Inc confirmed on Wednesday it has hired advisers to evaluate options including a bankruptcy filing, in what could be the most high-profile reorganization yet in U.S. shale oil industry. The company, battered by a 60 percent slide in oil prices since mid-2014, said in a regulatory filing there was substantial doubt about its financial...

  • March 30- SandRidge Energy Inc said on Wednesday it had engaged advisers to evaluate options including a private restructuring or reorganization under Chapter 11.. Oklahoma City- based SandRidge, which reported results on Tuesday after delaying the filing, had about $3.63 billion in total debt as of Dec. 31. SandRidge, which produces oil and gas from shale...