The largest U.S. fuel pipeline system, Colonial Pipeline, shut down on Friday after a cyber attack, prompting worries about a spike in gasoline and diesel prices ahead of the peak summer driving season if the outage does not end soon. WHAT IS COLONIAL PIPELINE? The 5,500-mile system runs between Houston, Texas and Linden, New Jersey, and transports more that 2.5 million barrels of fuel every day.
Front Month Nymex Crude for June delivery gained $1.32 per barrel, or 2.08% to $64.90 this week. --Up for two consecutive weeks. --Up $2.76 or 4.44% over the last two weeks.
U.S. energy firms added oil and natural gas rigs for a second week in a row as higher oil prices prompted some drillers to return to the wellpad. The oil and gas rig count, an early indicator of future output, rose eight to 448 in the week to May 7, its highest since April 2020, energy services firm Baker Hughes Co (BKR) said in its closely followed report on Friday.
SYDNEY--Macquarie Group Ltd.' s commodities and global markets unit is unlikely to repeat the standout fiscal 2021 performance that helped drive record profits at the Australian financial services company, Chief Executive Shemara Wikramanayake says. In an interview with Dow Jones Newswires on Friday, Ms. Wikramanayake said dislocation in markets has traditionally provided the unit, known as CGM, with opportunities, pointing to the oil price volatility seen between the...
Front Month Nymex Crude for June delivery lost 92 cents per barrel, or 1.40% to $64.71 today. --Largest one day dollar and percentage decline since Friday, April 30, 2021. --Down for two consecutive sessions.
OIL LOGISTICS COMPANY EXOLUM: * OIL PRODUCT DELIVERIES TO THE SPANISH MARKET FROM FUEL DISTRIBUTOR EXOLUM TERMINALS INCREASED BY 69.2% IN APRIL YEAR ON YEAR. * OIL PRODUCT DELIVERIES TO THE SPANISH MARKET FROM FUEL DISTRIBUTOR EXOLUM TERMINALS REMAIN 26.1% BELOW APRIL 2019 LEVELS Source text: https://bit.ly/33iUIqD.
By Clyde Russell. May 6 - The global rally in commodities has seen some like copper and iron ore probe record highs, but when it comes to the companies producing natural resources the gains in their share prices have been largely lagging and uneven.
Front Month Nymex Crude for June delivery lost six cents per barrel, or 0.09% to $65.63 today. --Snaps a two session winning streak. --Today's settlement value is the fourth highest this year.
Fujairah Oil Industry Zone on
Wednesday published the following weekly inventory data for oil
products for the week ended May 3, according to industry
information service S&P Global Platts.
Front Month Nymex Crude for June delivery gained $1.20 per barrel, or 1.86% to $65.69 today. --Largest one day dollar and percentage gain since Wednesday, April 14, 2021. --Up for two consecutive sessions.
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