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One hundred and seventy-six years after the birth of John Boyd Dunlop, and the crude complex is coming under pressure again. It is Nonfarm Friday, which means that the market is all a’flustered, digesting the soon-to-be-revised official monthly US unemployment report. The report was fairly underwhelming from a headline perspective; only 151,000 jobs were created last […]
Thirty-nine years after Fleetwood Mac’s second album was released, and ‘rumours’ of a production cut and fears of a worsening US economy are pushing and prodding the crude market around today. Commodities are also getting whipsawed around by currency moves. As the US dollar continues to weaken due to growing pessimism about the US economy, […]
Cheney said the U.S. should get more involved with energy diplomacy to weaken its enemies
One hundred and thirty-one years after the first rollercoaster was patented by L.A. Thompson, and the crude complex is aboard the big dipper once more. As global equity markets look set to enter bear market territory, and fears persist that the oil market could ‘drown in oversupply’, crude continues to tumble lower and lower. And […]
Benchmark U.S. crude for March delivery was down 87 cents, or 3.1 percent, at $27.59 per barrel in electronic trading on the New York Mercantile Exchange.
Suncor secured a deal to buy Canadian Oil Sands for about C$4.2 billion ($2.9 billion) by sweetening its offer after earlier bids were rejected.
The Malaysian state oil company will go through another round of cuts to capital and operating expenditure, the Wall St. Journal reported, citing an internal memo.
Total spending last year missed the company’s original target, highlighting how producers have struggled with oil’s plunge to a 12-year low.
The U.S. company is preparing to begin shipments from its $54 billion Gorgon project off northwest Australia.
Brent crude capped its third annual decline in 2015 and has already lost more than 11 percent so far this year.