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Bearish traders whipsawed by China stimulus, Iran-Israel WTI call skew highest since Russia’s invasion of Ukraine Oil futures posted their largest gain in more than a year last week. And the frenzy was even bigger in the options market. As traders fretted over the risk of a major price spike, the call skew on second-month …
Oil Bets Most Bullish in Two Years as Mideast Tension Flares Read More »
Summary Brent crude posts biggest weekly gains since Jan 2023 Israel conducts air attack on Beirut, Iran calls on allies to step up anti-Israel struggle Biden says he would consider alternatives to striking Iranian oilfields if he was in Israel’s shoes Oil analysts caution prices could stay elevated until Middle East conflict is resolved Spare …
Oil Settles Up, Biggest Weekly Gains in Over a Year on Middle East War Risk Read More »
OPEC has enough spare oil capacity to compensate for a full loss of Iranian supply if Israel knocks out that country’s facilities but the producer group would struggle if Iran retaliates by hitting installations of its Gulf neighbours. Iran fired hundreds of missiles at Israel on Tuesday in response to Israeli airstrikes and attacks. Israel’s …
OPEC+ Could Cushion Iran Oil Shock But Not Broader Disruption Read More »
EQT Corp said on Tuesday it would lay off about 15% of its workforce as part of an “integration process” following its $14 billion acquisition of Equitrans Midstream. This marks the natural gas producer’s biggest job cut since 2019, when it laid off about 23% of its workforce just months after Toby Rice joined the …
Natgas Producer EQT Corp to Lay Off 15% of Workforce Read More »
Summary Oil settles higher but falls on the week Investors weigh OPEC+ decision to ramp up production China’s central bank lowers interest rates Gulf of Mexico operations resume after Hurricane Helene HOUSTON, Sept 27 (Reuters) – Oil prices settled higher on Friday but fell on the week as investors weighed expectations for higher global supply …
Oil Settles Higher But Falls on the Week on Firmer Supply Outlook Read More »
(Reuters) – Oil prices slipped on Thursday, reversing earlier gains, on news that Saudi Arabia, the world’s top crude exporter, will give up on its price target in preparation for raising output. Brent crude futures were down $1.27, or 1.7%, to $72.19 a barrel, while U.S. West Texas Intermediate crude fell $1.18, also 1.7%, to …
Oil Prices Slide on Prospects Saudi Arabia to Raise Output Read More »
(Reuters) – Oil prices slipped on Wednesday as investors reassessed whether China’s latest stimulus plans will be able to boost its economy and spur fuel demand in the world’s largest crude importer. Still, declining U.S. crude oil and fuel stockpiles, and more violence in the Middle East, provided some support for the market. Brent crude …
Oil Dips as Investors Weigh Whether New China Stimulus Will Boost Demand Read More »
“Under this new law, you’re guilty unless you prove your innocence to some back-room bureaucratic body. That’s simply not a Canadian concept.” Photo by THE CANADIAN PRESS/Sean Kilpatrick In its latest display of environmental correctness, the federal government passed a new anti-greenwashing law that requires individuals or organizations making claims or promises about the climate …
Canada’s Federal Greenwash Law Bill C-59: You’re Guilty Until Proven Innocent Read More »
(Reuters) – U.S. natural gas storage is on track to end the April-October summer injection season at a four-year high of 3.899 trillion cubic feet (tcf) on Oct. 31, according to analysts’ estimates. That compares with 3.809 tcf at the end of the summer injection season in 2023, 3.929 tcf in 2020 and a five-year …
US Natgas End-of-Season Storage to Reach Four-Year High in October Read More »
Sept 23 (Reuters) – U.S. oil producers on Monday were scrambling to evacuate staff from Gulf of Mexico oil production platforms as forecasters predicted the second major hurricane in two weeks could tear through offshore oil producing fields. The U.S. National Hurricane Center said a potential Tropical Cyclone System Nine near the western tip of …
Oil Firms Evacuating U.S. Gulf of Mexico Staff as Hurricane Threat Rises Read More »
