Category: Crude oil

Crude oil in U.S. slides most in 22 months on growing supply

Oil for November delivery fell $3.41 to end at $91.16 a barrel.  More »

New pipelines to end Midland crude discount in coming months, analyst says

The BridgeTex pipeline began its first shipments of oil from the Permian Basin to the Gulf Coast, in what could be an important step toward bringing oil prices in the Midland region back toward parity with the U.S. benchmark set in Cushing, Oklahoma.  More »

Oregon senators ask for more oil train notifications

Four West Coast senators are asking the federal government to expand a recent order for railroads to notify state emergency responders of crude oil shipments.  More »

Rare Alaskan crude shipment heads to South Korea

A tanker full of Alaskan crude is now heading to South Korea, courtesy of an exception in the 39-year-old law that blocks most U.S oil from being sold overseas. The shipment is the first of its kind in a decade.  More »

Consumer spending report boosts oil futures

Oil for November delivery increased $1.03 to $94.57 a barrel.  More »

Eagle Ford continues to gush despite rapid well declines

Although Eagle Ford wells tend to drop in production by 60 to 70 percent in the first year, the shale has seen significant surges in crude oil production, the U.S. Energy Information Administration said in a report released Monday.  More »

Encana buying Permian-focused Texas company for $5.9 billion

Calgary-based Encana Corp. will buy Fort Worth’s Athlon Energy in a deal worth $7.1 billion that will give the Canadian company’s a sizable footprint in the Permian Basin.  More »

West Virginia opens bids on drilling under Ohio River

Noble Energy, Gastar Exploration and Statoil submitted bids with 20 percent royalty rates. State officials plan to pick winners in the next week or two.  More »

Lawmakers fear voters won’t approve of easing export ban

Some Republican congressional leaders and lawmakers from oil states have been reluctant to say much on the topic of easing the federal ban on oil exports.  More »

Mexico’s energy overhaul will bring benefits, challenges

Mexico’s move to open up its energy sector can be a boon to both sides of the border, but achieving the potential will require work,  More »

Surging Middle East oil increases tanker rates

The oil-refining wave in the Middle East is filling tankers to export the region’s processed fuels and driving freight rates to the highest for the time of year since 2008.  More »

Gasoline futures surge, crude prices decline

Gasoline futures gained 5.42 cents, or 2 percent, to end at $2.718 a gallon on the New York Mercantile Exchange.  More »