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(Spencer Platt/Getty Images)

Oil prices jump after reports of tanking U.S. production

West Texas Intermediate for November delivery rose 86 cents, or 1.9 percent, to $47.12 a barrel at 9:48 a.m. on the New York Mercantile Exchange.
Image of Hurricane Joaquin  over the Caribbean, from NOAA's GOES West satellite. (NOAA)

Hurricane Joaquin threatens East Coast energy infrastructure

The storm could bring torrential rainfall and flooding along the East Coast, threatening refineries, power plants and distribution terminals.
Workers prepare drilling pipe on the Petroleos Mexicanos (Pemex) La Muralla IV deep sea crude oil platform in the waters off Veracruz, Mexico, on Friday, Aug. 30, 2013. (Susana Gonzalez/Bloomberg)

U.S. a net oil exporter to Mexico for first time in decades

The U.S. sent more crude oil and petroleum products to Mexico than it received for the first time in at least two decades in July, according to the latest government data.
FILE - In this Dec. 22, 2014 file photo, Iranian oil workers gather at the Tehran's oil refinery south of the capital Tehran, Iran. Across a Mideast fueled by oil production, low global prices have some countries running on empty and scrambling to cover shortfalls, even as more regional crude is on tap to enter the market.(AP Photo/Vahid Salemi, File)

Iran approves model oil contract aimed at ramping up production

Iran is preparing to bounce back from sanctions that strangled its economy and choked off investment in its oil and gas industry.
Pipelines run toward oil storage tanks stand at the Enbridge Inc. Cushing storage terminal in Cushing, Oklahoma, U.S., on Wednesday, March 25, 2015. (Daniel Acker/Bloomberg)

Oil inventories rise as refineries slow down

Refineries across the United States have been paring back operations for fall maintenance season, which sends more oil into storage tanks.
Floor hands David Vannapha, left, Mario Ramos, center, and Jose Garza make a pipe connection on the drill string on the Orion Perseus drilling rig near Encinal in Webb County, Texas, U.S., on Monday, March 26, 2012. The Perseus is drilling for oil and gas in the Eagle Ford Shale, a sedimentary rock formation underlying an area of South and East Texas. Photographer: Eddie Seal/Bloomberg *** Local Caption *** David Vannapha; Mario Ramos; Jose Garza

Low prices keep eating into oil and gas investment

Drilling for oil requires a large amount of capital, meaning that investment today can translate into less production in the future, although more efficient drilling can lessen the impact.
A pipeline sign stands in Cushing, Oklahoma, U.S., on Wednesday, March 25, 2015. The fastest oil-inventory growth on record at the main U.S. hub may be about to end, easing concern that storage limits will be strained. Photographer: Daniel Acker/Bloomberg

Oil falls to a loss despite inventory draw

Immediately after the report was issued, U.S. benchmark West Texas Intermediate futures rose as much as 61 cents. But the gains didn’t last long, and prices slid to a 90 cent loss and $45.63 per barrel shortly after peaking at $47.15 per barrel.
(Jim Gehrz/Minneapolis Star Tribune/MCT)

Shale drillers spending most of their cash paying off high debt

North American oil explorers have only hedged about 11 percent of their oil production in 2016. That’s well below the 28 percent of oil production they’ve hedged in the third quarter of this year and , according to research firm IHS.
FILE - In this Oct. 24, 2013 file photo, House Energy and Commerce Committee Chairman Rep. Fred Upton, R-Mich. speaks on Capitol Hill in Washington. Congressional Republicans are waging war against a hapless Web Site and hoping it leads to the destruction of Obamacare, the health care program they loathe yet can’t stop talking about it. As a tactic, it’s no more likely to succeed than this autumn’s self-wounding decision by Republicans to force a partial government shutdown and flirt with default on the national debt. Or their specious, long-ago claim that the program included death panels. (AP Photo/ Evan Vucci, File)

House panel votes to lift 40-year-old US ban on oil exports

The House Energy and Commerce Committee approved the legislation, 31-19, with three Democrats joining 28 Republicans to back the bill.
Oil pumping units, also known as nodding donkeys or pump jacks, operate at an oil plant operated by MND AS in Uhrice, Czech Republic, on Monday, March 23, 2015. Oil rose as the dollar weakened for a third day, making commodities priced in the U.S. currency more attractive to investors. Photographer: Martin Divisek/Bloomberg

IEA upgrades demand, slashes non-OPEC supply…and oil prices tank

The crude complex is charging lower into the weekend despite some bullish signals from the monthly IEA Oil Market Report (some might say today’s drop is in relation to a certain research piece, but we’ll side-step that). Yesterday we took a look at some of the key themes in the latest EIA Short Term Energy Outlook, […]
Categories: Crude oil, Markets
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