West Texas Intermediate

Domestic Oil And Gas Production

Big oil has lost big money for investors. In the past year, as crude prices have fallen more than 55 percent, the nine biggest Western oil companies have shed a combined $400 billion in market cap, according to data pulled by FactSet. But despite the staggering decline, one expert sees rare opportunity in the space.… Keep reading →

Oil frack something

The prospect of oil prices falling below $40 receded earlier this year amid a crude rally, but with futures sliding again, investors shouldn’t rule out a three-handle, Again Capital founding partner John Kilduff said Thursday. “Christmas time we’ll probably be rebounding off new lows off of the mid to low 30s,” he told CNBC’s “Squawk… Keep reading →

'A World Without Petrol' Art Exhibition Launches In Sydney

Americans are not spending much of the money they’re saving at the pump. Some benefit in home prices and employment have come to areas with long commutes, but effects on retail spending have been “more ambiguous,” according to an analysis from Goldman Sachs economists. “Our view has been that the boost to real incomes from… Keep reading →

Boom Goes Bust: Texas Oil Industry Hurt By Plunging Oil Prices

Oil producers have shown reluctance to draw down supply while societies have yet to find a universal replacement for oil, which will keep prices lower for the immediate future, one energy investor said Wednesday. “I think it’s still early days and we have more pain coming,” said Gregory Beard, global head of natural resources at… Keep reading →

Battle Looms For Coastal Wetland In Southern California

Duke Energy Corp. has agreed to pay shareholders about $146 million in settlements following allegations that it failed to disclose details of its 2012 merger with Progress Energy Inc. “The lawsuit accused Duke and several directors and executives of planning in secret to overthrow Progress Chief Executive Bill Johnson as head of the new company.… Keep reading →

U.S. Government Releases Over $5 Billion In Aid For Home Heating Bills

Benchmark crude oil price declines may threaten domestic producers’ continued production growth. On January 5, 2015, the Energy Information Administration (EIA) released a report — drawing from the S&P Goldman Sachs Commodity Index (GSCI) — showing that energy commodity prices recorded the largest declines in 2014 compared to non-energy commodities.  Notably, the GSCI’s energy component… Keep reading →

Oil Prices Fall To Lowest Level In Four Months

Whether or not the price of crude has hit bottom, oil stocks are still likely to appreciate over the next few months, Wolfe Research Managing Director Paul Sankey said Tuesday. West Texas intermediate crude dropped below $80 a barrel, hitting two-year lows, with some analysts predicting that it could head toward $70 in next year due to oversupply.… Keep reading →

'Liberated' Eastern Libya Adjusts To Life Without Gaddafi Rule

The Brent-WTI spread narrowed further yesterday, with the price differential currently around $6/bbl, as Libya continues to shake up the international oil market. “Libya, the holder of Africa’s biggest crude reserves, has become the smallest producer in the 12-member Organization of Petroleum Exporting Countries after protests halted production and shipments. Output shrank to 250,000 barrels… Keep reading →

Animal Sanctuary Rescues And Shelters Abused And Abandoned Wildlife

Hedge funds are pulling out of bets that crude oil prices will rise in the short to medium term. With the market currently well supplied, investors are increasingly taking futures and options positions that could be profitable if oil prices decline further. “Money managers cut net-long positions, or wagers on rising prices, for benchmark West… Keep reading →

First Shore-Powered Oil Tanker Terminal Is Unveiled In Long Beach

PFC Energy put together a succinct list of key trends in oil markets in 2013, along with associated charts. These include US oil production growing faster than in any other year, cheaper crude inputs at refineries driving the US to become the world’s largest exporter of refined petroleum products, and the rising disconnect between international… Keep reading →

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