Category: Crude oil

Crude-export shutdown in Iraq unlikely, analysts say

International crude prices climbed to their highest point in 10 months on fears that sectarian violence in Iraq will spill into the south and cut off crude exports from the port at Basra, but that’s a highly unlikely scenario, experts said Friday.  More »

Oil jumps past $106 on Iraq violence

An al-Qaida-inspired group that captured two key cities in Iraq earlier this week vowed Thursday to march on to Baghdad.  More »

Oil barely changes after World Bank forecast

The World Bank downgraded its forecast for the global economy this year.  More »

Goldman says keeping US oil-export ban helps economy

Maintaining the statutory curb on shipments overseas will deliver the “highest value” to the U.S. economy, the bank said in an e-mailed report Wednesday.  More »

China’s record oil hoarding seen keeping crude above $100

China is hoarding crude at the fastest pace in at least a decade, shielding itself from supply disruptions and helping keep prices above $100 a barrel.  More »

Trains full of crude boost US share in refiners’ mix

East Coast refiners are using less imported oil, as trains deliver crude from the prolific Bakken Shale in North Dakota.  More »

OPEC ministers signal output to remain on hold

Nany of the 12 OPEC members are at their production capacity limits.  More »

UN: Oil search in Northern Somalia risks stoking tension

Two semi-autonomous areas of northern Somalia have largely avoided the violence that’s plagued the rest of the country for decades. Now oil exploration may change that, according to the United Nations.  More »

Oil gains on China export growth, solid US jobs

Crude gained $1.75 to close at $104.41 a barrel, the highest closing price since March 3.  More »

Moody’s: Oil and gas sector to grow through 2015

The independent exploration and production sector’s growth will continue into 2015 and only crude prices falling to $80 per barrel would slow it down, according to a new report from credit ratings agency Moody’s Investors Service.  More »

Lawmakers aim to limit emergency oil sales

The Obama administration could be facing new obstacles in its plan to establish a 1-million-barrel stockpile of gasoline in the Northeast.  More »

Hedge funds retreat from record crude wagers

Speculators cut bullish bets on U.S. crude oil from a record as inventories were close to a seasonal high following the Memorial Day weekend.  More »
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