Saudi Arabia's crude oil exports in July rose to their highest since January, the Joint Organisation Data Initiative said on Thursday. The kingdom's crude oil exports rose to 6.327 million barrels per day in July, up from 5.965 million bpd in June.
- Biofuel producers are seeking last-minute changes to a proposal to boost production of sustainable aviation fuel tucked in the Democrat's $3.5 trillion spending plan that they say will allow the nation's farmers to join the emerging multi-billion market.
Exports of Malaysia's flagship crude oil Kimanis will fall in October and November after a production issue at an offshore oilfield operated by Royal Dutch Shell (RDS/A), three sources with knowledge of the matter said. Petroleum Brunei, one of the stakeholders, cancelled a tender to sell a Kimanis crude cargo that was supposed to load in early November because of the problem, one of the sources said.
Oil prices fell on Thursday, falling from a multi-week high a day earlier on profit taking and as the threat to U.S. Gulf crude production from Hurricane Nicholas receded. Brent crude was down 54 cents, or 0.7%, at $74.92 a barrel by 10:52 a.m. ET On Wednesday Brent touched $76.13, its highest since July 30.
Fertilizer producer CF Industries
Holdings Inc (CF) said on Wednesday it was halting operations at both its Billingham and Ince, UK, manufacturing complexes due to higher natural gas prices. U.S. natural gas futures rose 3.8% to settle at $5.460 per million British thermal units on Wednesday, their highest close since February 2014 for a third day in a row.
Front Month ICE Brent Crude for Nov. delivery gained $1.86 per barrel, or 2.53% to $75.46 today. --Largest one day dollar and percentage gain since Tuesday, Aug. 24, 2021. --Up for four consecutive sessions.
Front Month Nymex Crude for Oct. delivery gained $2.15 per barrel, or 3.05% to $72.61 today. --Largest one day dollar and percentage gain since Monday, Aug. 23, 2021. --Up for four consecutive sessions.
Front Month Nymex Natural Gas for Oct. delivery gained 20.00 cents per million British thermal units, or 3.80% to$ 5.4600 per million British thermal units today. --Up for three consecutive sessions. --Up 52.20 cents or 10.57% over the last three sessions.
Sept 15 - A slew of private equity-backed oil and gas companies have been put up for sale in the Canadian energy patch, as higher crude prices prompt buyout shops to exit and free some of their capital that was locked far longer than originally intended.
U.S. inventories of crude oil and transportation fuels declined sharply across-the-board last week, according to data released Wednesday by the Energy Information Administration. Benchmark U.S. oil prices that were sharply higher before the report came out added to those gains afterward. The Nymex front-month crude contract for October delivery was recently up 3.6% at $72.99 a barrel.
News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.
PDF’s require Adobe® Reader® and will open in a new window.
Log In Required
