From the Financial Times Goldman Sachs has quietly overtaken Chevron and ExxonMobil to become one of the biggest natural gas merchants in North America, expanding in physical commodities trading even as other banks pull back. The Wall Street institution last year bought and sold 1.2tn cubic feet of physical gas in the US — equal to a quarter of the […]
From Yahoo Finance Many traders are waiting for oil prices to crash again, as a rally triggered by the falling value of the U.S. dollar fizzles. They could be waiting a long time. “You could be at 50 or 60 [dollars per barrel] in 60 days,” famed oil investor T. Boone Pickens tells Yahoo Finance […]
HOUSTON | BY LIZ HAMPTON A pump jack operates at a well site leased by Devon Energy Production Company near Guthrie, Oklahoma in this September 15, 2015, file photo. REUTERS/NICK OXFORD/FILES U.S. “stripper well” operators, the nation’s smallest oil producers seen as most likely to succumb to the crude price slump, are hanging in tough, […]
By Myra P. Saefong Published: Apr 30, 2015 12:14 p.m. ET Nymex oil prices are at their highest level of the year. U.S. crude supplies have stood at a record high since January, with little hope for a reprieve from the 46% price drop the market suffered in 2014. Crude supplies remain at a […]
Published: Apr 29, 2015 10:53 a.m. ET Cheap oil hurt the U.S. economy in the 2015 first quarter more than it helped. By JEFFRYBARTASH | REPORTER WASHINGTON (MarketWatch) — Cheaper gasoline was supposed to turbocharge the U.S. economy, but it appeared to do more harm than good in the first three months of 2015. The nation’s […]
Published: Jan 22, 2015 6:33 p.m. ET $30 may be the canary in the coal mine for the global economy. SAN FRANCISCO (MarketWatch)—The price of oil is about $17 a barrel away from signaling that a global recession is inevitable, according to a new survey of investment professionals. The survey from ConvergEx Group polled 306 […]
Published: Jan 20, 2015 6:01 a.m. ET Weak demand, oversupply and little inflation will keep roiling oil markets Getty Images By SATYAJITDAS Oil demand over the near-term is likely to remain lackluster, given slow economic growth in most of the developed world and emerging markets. Meanwhile, conservation measures and environmental pressures are reducing long-term oil […]
Bloomberg Joe Carroll © Bloomberg OPEC’s price war against the American shale industry will erode drilling budgets, shrink profits and even bankrupt some companies. It won’t do the one thing cartel leader Saudi Arabia wants: reduce U.S. production. In the three geologic formations that account for 88 percent of U.S. shale oil output LL North […]
Published: Nov 25, 2014 9:26 a.m. ET Staying on the right side of the market isn’t simple, but it’s not impossible either. Over the past two months, we witnessed a short-term market top, a plunge and washout bottom and now another violent “V”-shaped rally to new highs. Predicting this turn of events was virtually impossible, […]
Oil registers steepest one-month decline, 18%, since 2008 ReutersThere’s ‘no target price,’ for oil, OPEC Secretary-General Abdullah al-Badri said Thursday. By CLAUDIAASSIS / ENERGY REPORTER SAN FRANCISCO (MarketWatch) —Oil futures on Friday settled at their lowest in five years as the Organization of the Petroleum Exporting Countries’ decision to keep crude production the same heightened fears […]