Oil

Vervantis

Oil Price Steadies Decline

Oil price steadies decline after tumbling to the lowest level since before OPEC reached an output-reduction deal as U.S. shale confounds the producer group’s attempts to prop up prices. Prices are approaching an 8 percent decline this week, bringing the U.S. benchmark crude back to levels last seen before the Organization of Petroleum Exporting Countries signed a six-month deal in November to curb production and ease a global glut. The drop in prices is being driven by expanding U.S. output [...]

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Shorts on the Line!

Energy Shorts In the last seven weeks, those who have been watching the oil markets would notice a 50% increase in cost.  With a global market in oversupply, and crude stocks fast approaching their highest ever levels, it is right to wonder what might be causing this upward pressure. The answer in part appears to be shorts! Traders have been getting out of their energy shorts, and fast!  In fact, according to the U.S. Commodity and Futures Trading Commission, it was the largest on record. In the [...]

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buyers-market

India Invest in Russian Oil

Russian Oil Gets Indian Investment The Russian oil economy, like most oil-rich nations, has been taking a beating lately, as the world’s oversupply of oil drove prices to as low as $26 barrel. The Russian government relies on about half of its income from oil and natural gas sales, and set its budget based on an oil price of $50 barrel. Well, fortunately for mother Russia, oil-hungry India, who import 80% of their oil requirements, decided it was time to increase their [...]

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Oil Falls From Three Month High

Oil Falls Impact Rig Count As some us awake bleary-eyed with an hour less sleep after the spring forward clock change, we find the markets have not been sleeping at all as oil falls. Oil has fallen from a three month high (by just over 3%) on the news that Iran will not be freezing its production, at least until it has reached its target output of 4m barrels per day. That means even less US oil and gas rigs will operate [...]

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LNG Exports

LNG Exports – Massive Increase Planned What has US Natural Gas, Liquid Natural Gas (LNG Exports) and London have in common? Ninety years ago today, the first successful radio-telephone conversations took place between New York and London thanks to the American Telephone and Telegraph Company (AT&T), Radio Corporation of America and Britain’s General Post Office (GPO).  Since then the pace of change in telephony and technology has been incredible, enabling global trade and communication to be carried out instantly from pretty [...]

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