Energy News Results

  • Why some analysts believe oil hitting $100 a barrel soon is unlikely

    'No basis at this stage for $100 oil', says energy expert Alhajji. Global oil hasn't seen $100- a-barrel prices in five years, and even with Saudi Arabia's daily crude production cut down by more than half, it isn't likely to see that level soon. "There is no basis at this stage for $100 oil," said independent energy expert Anas Alhajji, who's also managing partner at Energy Outlook Advisors LLC.

  • Buyers of Saudi oil scramble for alternatives, U.S. exports ramp up

    * China buys about a quarter of Saudi exports. * U.S. exports expected to jump. * Saudi Aramco refining output down about 1 mln bpd -analyst. * Top Saudi crude buyer interactive: https://tmsnrt.rs/31oLW7G. * Top global oil consumers interactive: https://tmsnrt.rs/31szYKj. By Jessica Jaganathan and Jessica Resnick-Ault.

  • The Real Loser From the Oil Price Jump Is China

    Higher oil prices are no longer an unalloyed negative for the U.S., but they are for the world's largest crude importer: China. The country is already dealing with a vicious outbreak of African swine fever that has pushed the price of pork, its staple meat, up over 40% on the year. Inflation is running at its hottest since 2013, excluding the volatile Lunar New Year holiday period.

  • *WTI oil futures settle at highest since May 21 on Nymex

    (END) Dow Jones Newswires 09-16-19 1434 ET Copyright (c) 2019 Dow Jones& Company, Inc..

  • Battered U.S. oil producers soar on Saudi attacks

    Shares of U.S. oil and gas companies surged on Monday, as a jump in oil prices in the wake of attacks on Saudi Arabia's oil facilities drove a relief rally in one of the S&P 500's worst performing sectors this year.

  • Oil Spike, Auto Strike Won't Derail U.S. Economy

    Oil-price spikes and auto strikes have taken large tolls on the U.S. economy in the past. But that history is unlikely to repeat now. Global crude oil prices initially jumped more than 10% in trading Sunday evening in response to Saturday's drone attack on a Saudi Arabian oil facility, which hit half of Saudi's productive capacity.

  • Oil Stockpiles Cap Price Surge After Saudi Attack

    The world is flush with excess oil, a factor that put a cap on the increase in crude prices following the attacks on the heart of Saudi Arabia's oil industry. The price of Brent crude spiked 20% to a high of $71.95 a barrel when Asian trading opened on Monday, which would have been the global benchmark's biggest one day rise in more than 30 years. But by the U.S. morning, Brent had retreated to $65.75, a gain of 9.2%, as traders gauged how much extra inventory is available to meet the demands of...

  • Oil could rally above $75 a barrel if outage lasts more than six weeks, says Goldman

    Big question is just how long the Saudis will take to bring production back on line. Oil prices could shoot above $75 a barrel if Saudi Arabia can't get its oil production fully back online soon, following damaging attacks over the weekend. That is according to a team of Goldman Sach's oil analysts, including Damien Courvalin and Jeffrey Currie, in a Sunday research note.

  • Here are oil plays Citi says will show biggest reaction to surge in crude

    In an analyst note, Citi identified the companies it says will have the biggest reaction to the rise in crude oil prices following the attacks in Saudi Arabia over the weekend. Small- and mid-cap oil explorers and producers that are heavily shorted or where positioning is negative include Extraction Oil& Gas, Whiting Petroleum Corp. (WLL), Callon Petroleum Co (CPE) and Carrizo Oil& Gas. Heavily shorted land drillers, pumpers and sand/logistic companies could be active including RPC, U.S.

  • BRIEF-Pertamina to receive 1st crude purchase from ExxonMobil's Cepu Block entitlement

    Exxon Mobil Corp (XOM): * PERTAMINA TO RECEIVE FIRST PURCHASE OF CRUDE OIL FROM EXXONMOBIL INDONESIAN UNIT'S ENTITLEMENT IN CEPU BLOCK ON SEPT 20 - SENIOR ENERGY MINISTRY OFFICIAL DJOKO SISWANTO. * PERTAMINA'S FIRST PURCHASE WILL BE 600,000 BARRELS - SISWANTO Source text for Eikon: Further company coverage:

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