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Top News & Analysis Oklahoma

  • NEW YORK/ HOUSTON, Feb 24- Traders are turning the spigots to drain the priciest storage tanks holding U.S. crude stockpiles as strengthening markets make it unprofitable to store for future sale and cuts in global production open export opportunities. From Houston through Louisiana to floating storage in the Gulf of Mexico, traders are starting to ship crude...

  • NEW YORK, Feb 23- U.S. crude oil stockpiles rose last week for a seventh straight week but less than forecast, while gasoline inventories fell far more than expected as refineries cut output, the Energy Information Administration said on Thursday. With those two together, the U.S. is becoming an export juggernaut, "said John Kilduff, partner at New York energy hedge...

  • NEW YORK, Feb 23- U.S. crude oil stockpiles rose last week for a seventh straight week but less than forecast, while gasoline inventories fell far more than expected as refineries cut output, the Energy Information Administration said on Thursday. By 11:30 a.m. EST or half an hour after the report, however, U.S. crude futures pared gains to 1.5 percent at $54.40 a...

  • That added to optimism earlier in the week when the Organization of the Petroleum Exporting Countries said a deal with other producers including Russia to curb output was showing a high level of compliance. However, for prices to break out of their trading ranges, the market needs to see signs that OPEC inventories are falling, said Tony Nunan, oil risk manager at...

  • That added to optimism earlier in the week when the Organization of the Petroleum Exporting Countries said a deal with other producers including Russia to curb output was showing a high level of compliance. However, for prices to break out of their trading ranges, the market needs to see signs that OPEC inventories are falling, said Tony Nunan, oil risk manager at...

  • However, for prices to break out of their trading ranges, the market needs to see signs that OPEC inventories are falling, said Tony Nunan, oil risk manager at Mitsubishi Corp. in Tokyo. "It's a battle between how quick OPEC can cut without shale catching up," Nunan said, referring to U.S. drilling in shale formations that has shown an upsurge after prices rose this year.

  • West Texas Intermediate crude April contract added 41 cents, or 0.8 percent, to $54.00 a barrel at 0011 GMT. Crude inventories fell by 884,000 barrels in the week to Feb. 17 to 512.7 million, compared with analysts' expectations for an increase of 3.5 million barrels, data from industry group the American Petroleum Institute showed on Wednesday.

  • Oklahoma Attorney General Scott Pruitt arrives at Trump Tower in New York, on Wednesday, Dec. 07, 2016.

    Here are some of the key stories CNBC is following this hour.

  • Feb 15- U.S. crude oil and gasoline inventories soared to record highs last week as refineries cut output and gasoline demand softened, the Energy Information Administration said on Wednesday. By 10:59 a.m. ET, it was trading 19 cents firmer at $53.39 a barrel. "Although this is another bearish report, we're likely to see buying interest this afternoon only to...

  • "I think the market is frozen," said Dominick Chirichella, senior partner at the Energy Management Institute. He said that while the U.S. gasoline stock draw was interesting, it was insufficient to knock the market out of its range-bound trade, limited between production cuts from OPEC and brimming U.S. crude stockpiles. "If we continue to see a decent compliance...

  • WASHINGTON/ HOUSTON, Feb 8- Native American groups said they would step up efforts to block the development of energy infrastructure across the United States to prevent future water contamination and damage to sacred land, following the defeat for the Standing Rock Sioux in its battle against the $3.8 billion Dakota Access Pipeline. In states including Texas,...

  • Feb 8- U.S. crude stockpiles surged last week, driven by a big rise in imports and inventory build at the key oil hub at Cushing, Oklahoma, while gasoline drew down unexpectedly, the Energy Information Administration said on Wednesday. "It appears gasoline demand as measured for the week has rebounded to near-normal levels, which offsets some of the report's other...

  • Feb 2- Enterprise Products Partners LP's Seaway pipeline is expected to resume service on or before Tuesday following its closure due to a leak in Collin County, Texas, earlier this week, the company said on Thursday. The company continued to make progress in repairing its 30- inch diameter pipeline, which was struck by a third-party contractor on Monday,...

  • Allianz said Great Western was projected to generate more than $25 million in property taxes for Ellis and Woodward Counties, where the wind farm is based. "It is a valuable addition to our renewable energy portfolio, which now exceeds 3.5 billion euros and offers a stable and uncorrelated return to Allianz," said David Jones, Head of Renewables at Allianz Capital...

  • Allianz said Great Western was projected to generate more than $25 million in property taxes for Ellis and Woodward Counties, where the wind farm is based. "It is a valuable addition to our renewable energy portfolio, which now exceeds 3.5 billion euros and offers a stable and uncorrelated return to Allianz," said David Jones, Head of Renewables at Allianz Capital...

  • CHICAGO, Feb 1- Bacon lovers beware: U.S. prices for the greasy salty meat are set to jump in the coming months due to dwindling supplies. In January, prices climbed 56 cents- the largest monthly spike in at least four years, according to U.S. Department of Agriculture data. Bacon eaters will likely see the higher prices in about three months, said David Maloni, president...

  • WASHINGTON, Jan 28- Families, students, engineers and doctors from across the Middle East who have made the United States their home on Saturday found themselves potentially uprooting established lives, after President Donald Trump this week curtailed immigration from seven Muslim-majority countries. The countries- Iran, Iraq, Syria, Yemen, Sudan, Libya, and...

  • Jan 25- Inventories of gasoline rose sharply in the United States for the fourth straight week amid weaker-than-usual demand, while crude oil stocks were also higher, the Energy Information Administration said on Wednesday. Crude inventories rose 2.8 million barrels in the week to Jan. 20, in line with expectations. Carl Larry, director of oil and gas at Frost&...

  • NEW YORK, Jan 19- U.S. crude inventories rose unexpectedly last week as refineries sharply slowed production, while gasoline stocks soared amid weak demand, the Energy Information Administration said on Thursday. U.S. crude and Brent tumbled to session lows of $51.24 and $54.05 per barrel respectively after the data. Refinery runs dropped precipitously amid...

  • *Russia oil production to reach record high in 2017- Reuters poll. *Rising U.S. production seen offsetting OPEC cuts- U.S. NEW YORK, Jan 17- Oil prices were little changed on Tuesday as forecasts for record production out of Russia in 2017 helped offset earlier gains related to a decline in the U.S. dollar and Saudi Arabia saying it would adhere to OPEC's commitment to...