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Oil pares steep weekly loss as U.S. says it downed Iranian drone

LONDON - Oil snapped four days of losses after the U.S. said it downed an Iranian drone near the Strait of Hormuz, stoking concern crude flows from the Middle East may be disrupted. Futures rose as much as 1.9% in New York, paring their ste......【More】

2019-07-22

EIA: Summer natural gas prices on track to be the lowest since 1998

WASHINGTON - In its July 2019 Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts Henry Hub natural gas spot prices for June, July, and August this year will average $2.37 per MMBtu. If realized, thi......【More】

2019-07-19

U.S. oil lets top Korean refiner pivot away from Middle East

SEOUL (Bloomberg) --South Koreas biggest oil refiner is looking to buy a wider variety of U.S. crude grades in a move that would reduce its reliance on supplies from the conflict-prone Middle East. SK Trading International Co. is considerin......【More】

2019-07-18

Oil extends loss as U.S. and Iran signal return to negotiations

NEW YORK and LONDON (Bloomberg) -- Oil extended losses below $60/bbl on the prospect of easing tensions between the U.S. and OPEC member Iran, and as Gulf of Mexico producers began resuming operations after a storm. Futures fell as much as......【More】

2019-07-17

Tropical storm races toward Louisiana, curbing oil output

BOSTON (Bloomberg) -- Tropical Storm Barry is barreling toward Louisiana and could hit the coastline as a hurricane by Saturday, causing close to $1 billion in damage and worsening flooding in New Orleans. The system, which was about 90 mi......【More】

2019-07-12

Oil rides to seven-week high on Gulf storm, tightening U.S. supply

NEW YORK (Bloomberg) -- Oil rode a tide of bullish news to its highest price in almost two months as a potential hurricane roiled the Gulf of Mexico and U.S. crude inventories dropped. Futures advanced 4.5% to the highest settlement since M......【More】

2019-07-11

Mexico’s moratorium on oil auctions gives rival Brazil an edge

RIO DE JANIERO and MEXICO CITY (Bloomberg) -- Mexicos moratorium on auctioning off its oil riches to foreign producers is giving a leg up to nearby rivals Brazil and Guyana. Mexico President Andres Manuel Lopez Obrador has halted new bid ro......【More】

2019-07-10

Saudi Arabia, Kuwait make breakthrough in neutral zone oil talks

KUWAIT and LONDON (Bloomberg) -- Saudi Arabia and Kuwait are the closest in years to restoring oil output from the neutral zone shared by the neighboring nations after making a breakthrough in recent talks, according to people familiar with......【More】

2019-07-05

Lukoil says its making headway in the Caspian Sea

MOSCOW -- Lukoil is successfully evolving its priority projects in the north of the Caspian Sea. The company continues to construct facilities at Vladimir Filanovsky, Yury Korchagin and Rakushechnoye fields. Thus, the company has commission......【More】

2019-07-02

Oceaneering launches digital asset inspection system

ABERDEEN -- Oceaneering International, Inc., has launched the Inform Inspect digital asset inspection system, which aims to streamline non-destructive testing (NDT) and inspection management. The tablet-based technology equips technicians,......【More】

2019-07-02