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HOUSTON, April 26 (Reuters) – Exxon Mobil Corp on Friday missed analysts’ estimates with a 28% year-on-year drop in first quarter profits as weaker refining margins and lower natural gas prices offset volume gains. The largest U.S. oil company, which is in the process of closing a $60 billion deal for top shale oil producer …
Exxon Misses on Q1 Profit Despite Big Gains in Guyana Read More »
(Reuters) – Oil prices rose on Friday, on track to end higher this week after two straight weeks of losses, after a top U.S. official expressed optimism over economic growth and as supply concerns lingered due to conflicts in the Middle East. Brent crude futures gained 19 cents, or 0.2%, to $89.20 a barrel at …
Oil Prices on Track to Snap Two-Week Losing Streak Read More »
MIAMI (AP) — A company started by a Texas billionaire oilman announced a deal Wednesday with Venezuela’s state-owned oil company to rehabilitate five aging oil fields, days after the Biden administration put a brake on sanctions relief over concerns about the fairness of the country’s upcoming presidential election. LNG Energy Group is a publicly traded company …
Billionaire Texas Oilman Inks Deal With Venezuela’s State-Run Fuel Giant Read More »
HOUSTON, April 24 (Reuters) – Technology advances are making it possible for U.S. shale oil and gas companies to reverse years of productivity declines, but the related requirement to frontload costs by drilling many more wells is deterring some companies from doing so. While overall output is at record levels, the amount of oil recovered …
New Technology Helps U.S. Shale Oil Industry Start to Rebuild Well Productivity Read More »
Goldman Sachs on Tuesday said it expects further moderation in the still-elevated geopolitical risk premium of $5-10 per barrel for crude oil in the coming months, and maintained its range-bound view, with a $90 per barrel ceiling on Brent. Oil prices slipped on Tuesday, a day after touching their lowest levels in more than three …
Goldman Expects Geopolitical Risk Premium to Moderate, Maintains $90/bbl Brent Ceiling Read More »
Oil Is Shedding Its Mideast Fear Premium Too Fast Benchmark Brent futures are back below $87 a barrel, but the conflict continues posing risks to supply. Bloomberg Oil markets are relinquishing the Middle East risk premium that nearly propelled prices to $100 a barrel. The shift is a sign of maturity — but also complacency. It still seems incredible that, …
Oil Is Shedding Its Mideast Fear Premium Too Fast Read More »
Summary Prices down after jumping $1 on strong euro zone PMI data U.S. Senate to take up aid package with Iran oil sanctions Political backdrop fraught with many risks: ANZ April 23 (Reuters) – Oil prices slipped on Tuesday after a short-lived boost from stronger economic data out of Europe as the market weighed the …
Oil Falls Back After Robust EU Data as Mideast Tensions Linger Read More »
By John Kemp LONDON, April 22 (Reuters) – Investors boosted their exposure to Brent as the conflict between Iran and Israel escalated but there was selling across the rest of the petroleum complex amid doubts about the sustainability of higher prices. Hedge funds and other money managers sold the equivalent of 23 million barrels in the …
Oil Bulls Lack Conviction About Sustainability of Higher Prices Read More »
HOUSTON, April 22 (Reuters) – As U.S. shale oil boomed last decade, an oil pipeline company pitched an ambitious multi-billion-dollar export port off the Texas coast to ship domestic crude to buyers in Europe and Asia. In April, Enterprise Products Partners’ SPOT became the first project to receive a license from the U.S. maritime regulator for …
As Shale Oil Output Slows, One Deepwater Port Struggles for Customers Read More »
Brent settles near $87 a barrel after earlier surge above $90 Flurry of options trades signal urge to protect against spikes Oil eked out a meager gain after Iranian media appeared to downplay the effect of Israeli strikes, lowering the geopolitical risk premium for crude. Global benchmark Brent earlier soared more than $3, popping above $90 a …
Oil Ekes Out Gain After Iran’s Muted Response to Israel Strike Read More »
