Upstream Online

Upstream Online

You can read more from Upstream Online at www.upstreamonline.com

China fuel hike hurts crude

Brent crude fell towards $125 a barrel on Tuesday as global supply concerns eased and a hike in Chinese fuel prices sparked fears of lower energy demand in the world’s second largest oil consumer.  More »

Middle East push-pull leaves Brent at $126

Brent crude oil traded near $126 on Monday as tension over Iran’s nuclear programme supported prices, offsetting an increase in oil exports from Libya and a rise in production by Saudi Arabia.  More »

Rocksource sells off Norwegian stakes

London-listed Valiant Petroleum has struck a deal to gain stakes in substantially all of cash-strapped minnow Rocksource’s licences on the Norwegian continental shelf.  More »

Crude steady on economic outlook

Brent crude was steady near $126 a barrel on Monday, extending the previous session’s gains, as prices were supported by continued concerns over a potential supply disruption from Iran and the prospect of a stronger US economy lifting oil demand.  More »

Norwest plans June fraccing start

Australia-focused Norwest Energy will start a hydraulic fracture stimulation programme on its Perth basin project in early June, when the necessary equipment becomes available, the company has announced.  More »

Oil up on Iran tensions

Oil prices rose more than 2% on Friday on support from the continuing tensions over Iran’s disputed nuclear programme and the potential for supply disruptions in the region along with the weaker dollar.  More »

Brent rebounds on Iran tensions

Brent crude rebounded above $123 on Friday after a sharp sell off the previous session, as rising tensions between Iran and the West fuelled an oil rally that has forced Western leaders to prepare a release of their strategic oil reserves.  More »

EPA tests reveal no contamination in Dimock

Initial testing by federal regulators has found no dangerous contamination related to oil and gas drilling in water samples from Dimock, Pennsylvania, where residents and activists have claimed hydraulic fracturing contaminated drinking water.  More »

US crude rises on economic optimism

US oil futures inched up in Asian trading on Thursday as strong US economic data, signalling a recovery in the world’s largest economy and supply worries spurred by tensions over Iran’s nuclear programme supported oil prices.  More »

Oil falls on US stock build

Oil futures dropped on Wednesday after data showed US crude stockpiles rose last week for the fourth time in a row and the dollar strengthened, tempering investor appetite for riskier assets.  More »

Brent ‘pinned sideways’ at $126

Analysts say uncertainty of Iran crisis has locked crude price range  More »

Brent ‘pinned sideways’ at $126

Analysts say uncertainty of Iran crisis has locked crude price range  More »

Brent rebounds towards $126

Brent crude rebounded towards $126 on Tuesday as investors awaited comments from the US central bank after the outlook improved for the world’s largest economy amid simmering tension between the West and Iran that could threaten oil supply.  More »

Oil falls on demand worry

Oil fell in the first of four sessions on Monday, with Brent slipping towards $125, as weak Chinese exports heightened demand fears, countering support from supply disruption worries in the Middle East and Africa and a brightening US economic outlook.  More »

Brent holds above $125 on Greek deal

Brent crude held above $125 on Friday, heading for its sixth weekly gain in seven, following news of a successful Greek debt swap deal that brings the country a step closer to securing a bailout needed to avoid a messy default.  More »