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Crude oil prices plunge to fresh 7 year lows in Week 51

Crude’s slump has deepened as OPEC extended a fight against USA shale producers and other rivals. USA crude futures were down 45 cents at USD 36.71 per barrel, having touched a low of USD 36.52, a trough since February 2009. ...

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Crude oil jumps as producing nations enter talks

Proactive Investors reported that if reports are to be believed a new cartel of sorts is forming and it could help prop up the oil market. According to press reports, a number of major oil producing nations comprising both OPEC ...

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Crude Oil Price Dips After Inventory Shows Big Decline

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories decreased by 5.5 million barrels last week, maintaining a total U.S. commercial crude inventory of 450.8 million barrels. The commercial crude inventory ...

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Crude oil price drops ‘like a stone,’ so why are gas prices so high?

Crude oil prices are low but the oil company savings aren’t being passed on to customers. Burlington’s Roger McKnight, Chief Petroleum Analyst for En-Pro International Inc., explains why. CBC’s Conrad Collaco spoke with McKnight Friday morning. Here’s an edited and ...

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Crude price rout is making drilling cheaper, but at what cost?

Cheaper oil may mean more money in consumer pockets, but weak oil prices are hammering the oil and gas service sector, a new report by the U.S. Energy Information Administration (EIA) found. According to the report, oil and gas prices as measured by ...

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Crude Oil Price Slips on More Imports and Refining

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories decreased by 1.9 million barrels last week, maintaining a total U.S. commercial crude inventory of 477.4 million barrels. The inventory remains near ...

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Trader bets $3 million on new lows for crude oil

Though crude rallied 5 percent on Wednesday, some traders are expecting more downside ahead. The price of oil has fallen to half of what it was last summer, and the ETF that seeks to track oil prices (trading under the ticker symbol USO) ...

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Cheaper foreign crude oil has drilling on the run

The shale oil revolutionaries are retreating in disarray, and cheap foreign oil may banish them to the margins of the market. As oil and natural gas move into a period of low prices, new data shows that North American drillers ...

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Oil heading higher? Energy stocks don’t think so

Crude oil surged 4 percent on Thursday, as a military conflict in Yemen led to market-boosting geopolitical supply concerns. However, energy stocks have responded contrarily. The S&P 500 energy sector actually fell a bit on the day, with energy giants Exxon Mobil and Chevrondropping ...

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OPEC monthly oil market report 2015

Crude Oil Price Movements The OPEC Reference Basket finished down US$9.49 at US$75.57/b in November, amid increasing supplies and sluggish global growth. ICE Brent fell US$8.42 to US$79.63/b, while Nymex WTI lost US$8.53 to stand at US$75.81/b. The Brent-WTI spread ...

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