Energy News Results

  • U.S. drillers add oil and gas rigs for 8th week in a row -Baker Hughes

    U.S. energy firms this week added oil and natural gas rigs for an eighth week in a row as crude prices recover to their highest in nearly a year. The oil and gas rig count, an early indicator of future output, rose 13 to 373 in the week to Jan. 15, its highest since May, energy services firm Baker Hughes Co (BKR) said in its closely followed report on Friday.

  • U.S. shale producers lock in future sales as oil prices rise to one-year high

    U.S. shale producers are taking advantage of the oil market's rally to levels not seen in nearly a year by locking in prices for future sales, sources familiar with the matter said. U.S. crude futures this month jumped above $50 a barrel to the highest since February.

  • U.S. shale producers lock in future sales as oil prices rise to one-year high

    U.S. shale producers are taking advantage of the oil market's rally to levels not seen in nearly a year by locking in prices for future sales, sources familiar with the matter said. U.S. crude futures this month jumped above $50 a barrel to the highest since February.

  • Oil drops over 2% on China lockdowns, U.S. stimulus concerns

    Oil prices fell more than 2% on Friday as concerns about Chinese cities in lockdown due to coronavirus outbreaks tempered a rally driven by strong import data from the world's biggest crude importer and U.S. plans for a large stimulus package. Brent was down $1.33, or 2.3%, at $55.17 by 11:59 a.m. EST, after gaining 0.6% on Thursday.

  • Oil prices climb on Chinese data, dollar weakness

    Oil prices edged higher on Thursday, boosted by a weak dollar and bullish signals from Chinese import data but pressured by renewed worries about global oil demand due to surging coronavirus cases in Europe and new lockdowns in China. Brent crude oil futures rose 36 cents, or 0.6%, to settle at $56.42 a barrel.

  • Asian LNG market rally driven by production problems, cold snap -Vitol

    The recent rally in liquefied natural gas prices in Asia is being driven by various supply problems and cold weather, the boss of oil trader Vitol told an industry event on Wednesday. "Asia was short LNG; there were various production problems, this has been going all winter," Russel Hardy told the Gulf Intelligence forum. He added that a cold snap in the region left inventories "a bit short".

  • BRIEF-ICE Futures Abu Dhabi gets BoE Approval

    Intercontinental Exchange (ICE): * ICE PLANS TO LAUNCH IFAD AND TRADING IN ICE MURBAN CRUDE OIL FUTURES ON MARCH 29 SUBJECT TO REGULATORY APPROVALS. * ICE SAYS APPROVAL GRANTED FROM THE BANK OF ENGLAND FOR ICE CLEAR EUROPE TO CLEAR IFAD MARKETS. * ICE SAYS IFAD RECEIVES REGULATORY APPROVAL FROM THE MONETARY AUTHORITY OF SINGAPORE.

  • TABLE-UAE's Fujairah oil inventory data for week ended Jan 11

    Fujairah Oil Industry Zone on Wednesday published the following weekly inventory data for oil products for the week ended Jan. 11, according to industry information service S&P Global Platts.

  • Oil ends lower, retreating from recent gains as COVID cases rise

    Oil prices fell on Wednesday, pulling back from recent gains, on concerns that rising global COVID-19 will hamper global fuel demand. The market did find some support from weekly inventory figures that showed a drop in crude inventories and rising refinery production.

  • W. Africa Crude-Qua Iboe exports awaited, trading muted

    Sales remained slow and few cargoes traded with refining margins still squeezed. * Traders expected the Qua Iboe export terminal to resume production this week, though such expectations earlier this month proved overoptimistic and Exxon said the force majeure declared almost a month ago remains in place.

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