Oil petroleum prices hold their second consecutive gains as Saudi Arabia reinforces hope for deeper cuts. Riyadh wants to give a bright surprise for traders before listing its state-owned oil refinery, Saudi Aramco. WTI crude oil contract rallied 0.43% or 0.24 points this Tuesday’s trading. WTI crude barrels jumped from yesterday’s close of $55.98 to …
Oil Petroleum Holds Gains, Saudi Wants Deeper Cuts Read More »
The positive outcome of the Chinese factory growth report accelerated the rally of oil and petroleum prices today. Experts did not expect growth in the manufacturing sector prior thus the surge in prices. Prices finally recovered after a steep fall, 5%, from the last day of November. Bulls took the opening to bounce back after …
Oil and Petroleum Prices Rally from Upbeat Chinese Data Read More »
Hyundai Oilbank is looking to improve its sales in the vessel fuel oil and petroleum department with its new innovations. The South Korean oil company introduced a very low sulfur fuel, or VLSFO, product soon. The company announced the new product on Thursday, November 28. Hyundai’s decision caters to the demand for cleaner energy sources …
Hyundai Oilbank Aims to Boost Sales with VLSFO | Wibest Read More »
Oil and petroleum futures contract this Thursday as traders digest the US stockpile buildup report. After gaining for two consecutive days, price hikes finally halted today after the EIA’s report. The Energy Information Agency showed an unexpected increase in the week ending on November 22. The oil inventory report said that US oil stocks rose …
Oil and Petroleum Prices Dragged by Inventory News Read More »
Oil and petroleum prices go up in today’s trading as traders focus more on trade war news. Oil bulls kickstart the week with a positive tone as they take advantage of the latest news about an agreement. West Texas Intermediate or WTI crude contract went up by 0.36% or 0.21 points this Monday. WTI crude …
Trade War Buoys Oil and Petroleum Prices Today | Wibest Read More »
Oil and petroleum contracts went down during this Thursday’s trading after hitting resistance. Despite rallying earlier after the release of the report, prices bounced off their resistance. WTI crude oil contract went down by 0.32% or 0.18 points in today’s trading. WTI crude prices are currently down from $57.01 to $56.83 this Thursday’s sessions. Meanwhile, …
Oil and Petroleum Prices Down Against Small Inventory Build Read More »
Oil and petroleum products became part of everyday life, a long time ago. Despite emerging technologies such as wind and solar energies, the oil industry remains a crucial part of the global economy. Regulations, as well as the falling demand, is going to affect this industry in the long run. However, it won’t happen overnight, …
The multinational energy corporation, ConocoPhillips, unveils a decade-long plan to entice more investors. The company’s CEO announced the new plans yesterday, making headlines along the way. The energy company plans to purchase back about $30 billion worth of its stocks. That is equivalent to about half of the company’s current capitalization in the market. ConocoPhillips …
ConocoPhillips Pleases the Market and Devices Decade Plans Read More »
The Houthis from Yemen recently seized a vessel that was pulling cargo from Asia in the Red Sea on Sunday. The Saudi-led coalition announced the recent capture on Monday which further escalated the tensions in the Middle East. The recent move by the Yemen-based rebels is seen as a continuation of the drone attacks and …
Houthis Rebel Group Seize an Oil Rig in the Red Sea | Wibest Read More »
The surprisingly bullish sentiment in the latest report of OPEC nations pushed oil prices higher this Friday’s trading. The Organization of Petroleum Exporting Countries’ latest report also hints potential supply curbs from the members in the future. Today, West Texas Intermediate futures or WTI crude rose 0.39% or 0.22 points in trading sessions. WTI crude …
OPEC Nations Slash Production Growth Projections | Wibest Read More »
The Energy Information Administration raised its forecasts for oil and petroleum production this year, causing prices to gain in sessions. The EIA also reported that the US natural gas output will rise next year to record levels. WTI crude contract rallied up by 0.65% or 0.37 points this Thursday’s trading. A barrel of WTI crude …
Oil and Petroleum Prices Fall After Stockpiles Report Read More »
The much-awaited November Brazilian oil auction turns out a flop as it failed to bring in expected figures. The oil petroleum market billed this high-profile event as the largest in history before it fell flat. The high signing bonus and the limelight around the action appeared to fend off bidders. The government had high hopes …
Brazilian Oil Auction Flops, Petrobras Takes it All Read More »
Activists and general calls for climate change appear not to affect the African oil industry. African countries aren’t slightly fazed to continue to pursue their oil and coal quest despite calls for change in the energy sector. Pressure for oil companies to go greener has weighed on the minds of traders, boosted by related events …
Climate Change Concerns Won’t Stop African Oil Industry Read More »
Oil Petroleum prices fell hard during this Monday’s trading sessions. Traders are still not done digesting the increase in US stockpiles reported by the EIA and API last week. The market started the week with a strong hangover from last week’s inventory reports. Unfortunately for traders, OPEC and US-China trade war news also added up …
Oil and petroleum prices came tumbling down during this Wednesday’s trading after the API reported another build-up. Traders are now also waiting for official data from the EIA that is due later in the day. Oil bears were delighted as they made profit from the US stockpiles’ build-up. West Texas Intermediate futures stumbled down 0.37% …
Oil and Petroleum Prices Fall After Inventory Build-up Read More »
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