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Top News & Analysis Oklahoma

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  • NEW YORK, July 10- A U.S. federal judge on Friday ordered Chesapeake Energy Corp to pay $379.7 million to bond investors, after the natural gas company waited too long to tell them of its plan to redeem their $1.3 billion of bonds six years early. District Judge Paul Engelmayer in Manhattan agreed with bond trustee Bank of New York Mellon Corp that holders of...

  • July 1- U.S. crude oil futures' discount to Brent, one of the biggest plays in oil, widened to more than $5 a barrel for the first time in three weeks on Wednesday after U.S. government data showed a surprise inventory build. "The bottom line is the overall U.S. stock build is weighing on heavily on WTI, and the Cushing build is adding to that," said Tariq Zahir, an oil trader and...

  • NEW YORK, July 1- U.S. crude oil inventories rose last week for the first time since April, while gasoline stocks decreased unexpectedly, data from the Energy Information Administration showed on Wednesday. "The crude build was definitely a surprise as was the Cushing build," said Tariq Zahir, managing member at Tyche Capital Advisors in Laurel Hollow, New York.

  • *OPEC output rises to three-year high. LONDON, July 1- Oil fell to trade further below $63 a barrel on Wednesday after U.S. crude inventories unexpectedly rose, the latest sign of a supply glut that may increase if Iran reaches a nuclear deal with world powers. "The oil market is being literally flooded with OPEC crude oil at present," said Carsten Fritsch, analyst at...

  • Oil prices drop after Greece defaults on IMF payment Tuesday, 30 Jun 2015 | 8:46 PM ET

    *Greece not able to repay 1.6 bln euros owed to IMF. SINGAPORE, July 1- Oil prices fell in early trading on Wednesday after Greece became the first developed economy to default on a loan with the International Monetary Fund. Greece, as expected, was not able to repay 1.6 billion euros it owed to the IMF, in what was the largest missed payment in the Fund's history.

  • WASHINGTON, June 30- An Oklahoma woman who was injured when an earthquake rocked her home in 2011 can sue oil companies for damages, the state's highest court ruled on Tuesday, opening the door to other potential lawsuits against the state's energy companies. Oklahoma, home to major energy companies including Chesapeake Energy Corp., Devon Energy Corp., and...

  • From June 17 to 24, there have been 35 earthquakes of magnitude 3.0 or greater in the state, according to the Oklahoma Geological Survey. Particularly worrying for regulators, some of the recent quakes occurred in the Oklahoma City metropolitan area, where there are no high-volume wastewater injection wells. Drillers were ordered by the Oklahoma Corporation...

  • *Genscape reports near 2 mln barrel Cushing draw on week- sources. Brent crude settled up 32 cents, or 0.5 percent, at $63.34 a barrel, after falling almost $1 earlier. U.S. crude closed up 7 cents, or 0.1 percent, at $59.68 a barrel, as its front-month July contract expired and went off the board after losing nearly 70 cents at one point.

  • *Genscape reports near 2 mln barrel Cushing draw on week- sources. NEW YORK, June 22- Crude oil futures fell for a second straight session on Monday on concerns that U.S. demand for gasoline may fade after a strong stretch and in worries about the potential fallout from the Greek debt crisis. But there's concern we may have overproduced gasoline lately, just like how...

  • *Market intelligence firm Genscape reports Cushing draws. NEW YORK, June 18- Oil prices settled up for a third straight day on Thursday, boosted by a slipping dollar and reports that data showed a draw in crude this week at Cushing, Oklahoma, the delivery point for U.S. crude futures. On Wednesday, the U.S. Energy Information Administration also cited the first weekly...

  • *Market intelligence firm Genscape reports Cushing draws. NEW YORK, June 18- Oil prices rose for a third straight day on Thursday, helped by a weaker dollar and data showing draws this week at the delivery point for U.S. crude futures. Market intelligence firm Genscape reported a draw of about 870,000 barrels at the Cushing, Oklahoma delivery point for crude in the...

  • NEW YORK, June 17- Magellan Midstream Partners LP, one of the ten largest U.S. oil pipeline companies, is considering opening an oil trading operation for the first time to enter a business that generates hundreds of millions of dollars a year for some of its rivals. Magellan may hire traders and acquire other assets related its existing pipeline and oil storage...

  • "The Fed again cited international concerns and the lower growth, opening the door for delaying the expected rate hike and keeping liquidity boosted," said Phil Flynn, an analyst at Price Futures Group in Chicago. Brent August crude rose 17 cents to settle at $63.87, having swung from $62.60 to $65.47 and ending back below its 50- day moving average of $64.16.

  • *Concerns about Greece debt crisis, impact on Europe weigh on oil. "The decline in refinery utilization is also bearish for crude oil price, since any diminution in demand will cause the recent trend of crude oil inventory declines to reverse," said John Kilduff, partner at Again Capital LLC in New York. Brent August crude was down 90 cents at $62.80 a barrel, having...

  • NEW YORK, June 17- Magellan Midstream Partners LP, one of the ten largest U.S. oil pipeline companies, is considering opening an oil trading operation for the first time to enter a business that generates hundreds of millions of dollars a year for some of its rivals. Magellan may hire traders and acquire other assets related its existing pipeline and oil storage...

  • *World Bank cuts world growth outlook to 2.8 pct from 3 pct. The euro extended losses after International Monetary Fund spokesman Gerry Rice said "major differences" remained with Greece over an agreement to save the country from bankruptcy. "Oil continues to slip and slide when it gets bad news out of Greece," said Phil Flynn, analyst at Chicago- based Price Futures...

  • NEW YORK, June 10- Oil rallied for a second straight day on Wednesday, with U.S. crude nearing a one-month high and gasoline hitting its highest price since November, as a big U.S. stocks drawdown boosted the outlook for summer fuel demand. "There's no mistaking it: There's pretty good demand for both crude oil and gasoline in the United States now and it could stay this...

  • NEW YORK, June 10- Oil rallied for a second straight day on Wednesday as U.S. government data confirmed a big weekly drawdown in domestic crude stockpiles, although profit-taking by players who had bet on the draw pulled the market back from its highs. By 11:50 a.m. EST, global crude benchmark Brent was up 20 cents, or 0.3 percent, at $65.08 a barrel, from the session...

  • NEW YORK, June 4- Arcadia Petroleum Ltd, its Parnon Energy unit and two traders have reached a $16.5 million settlement of a U.S. class-action lawsuit accusing them of illegally manipulating the price of crude oil in early 2008.. It resolves charges by other traders that the companies, Arcadia trader Nicholas Wildgoose and Parnon trader James Dyer violated...

  • *OPEC expected to keep output target unchanged on Friday. OPEC, which pumps more than a third of the world's oil, is expected to reject any calls for output cuts, continuing to produce about 2 million barrels per day above demand. Crude oil futures, already volatile from the combination of a flighty dollar and the bearish mood over OPEC, briefly cut losses on the EIA...