Siim, Author at EmeraldBay Trading

MEG Energy says Trans Mountain expansion will boost Canadian oil prices ‘for years’

CALGARY – The recently completed Trans Mountain pipeline expansion will boost Canadian oil prices for “years” to come, an executive with oilsands producer MEG Energy Corp. said Tuesday. “It is great for industry and Canada to have that tremendous asset available,” said MEG’s vice-president of marketing Erik Alson during a conference call with analysts to […]

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BP reports profit drop as lower oil prices hit earnings

Uncategorized / By Siim

Tuesday 07 May 2024 7:25 am BP has reported a decline in earnings and higher debt for the first quarter of the year. BP has reported a drop in profit for the first quarter of the year and higher net debt amid lower oil prices. The UK oil major reported underlying replacement cost profit of

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Large Crude Inventory Build Rocks Oil Prices

Uncategorized / By Siim

Crude oil prices went lower today after the U.S. Energy Information Administration reported an inventory increase of 7.3 million barrels for the week to April 26. This compared with a substantial draw of 6.4 million barrels for the previous week that pushed prices temporarily higher last week. In gasoline, the authority reported an inventory rise of 300,000 barrels for

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High Oil Prices Force Biden Admin to Halt SPR Refill Plans

Uncategorized / By Siim

By Robert Rapier – May 03, 2024, 4:00 PM CDT DOE cites rising oil prices as the reason for canceling the solicitations for oil deliveries to the Bayou Choctaw SPR site. Biden administration’s decision comes amidst concerns over market conditions and global production cuts impacting oil prices. The cancellation raises questions about the U.S. energy

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FTSE 100 today: London stocks to stay subdued in light trading as Asia and Europe mark Labour Day holidays

Uncategorized / By Siim

Wednesday 01 May 2024 5:38 am FTSE 100 today: London stocks to stay subdued in light trading as Asia and Europe mark Labour Day holidays Moving markets today: Asian equities mixed following Wall Street’s worst month since September; oil prices drop, gold stays subdued, Starbucks, AMD, and Supermicro shares decline; focus shifts to US Fed

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U.S. Crude Oil And Gasoline Inventories Drop Off

Uncategorized / By Siim

Julianne Geiger Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group. More Info By Julianne Geiger – Apr 23, 2024, 3:43 PM CDT Crude oil inventories in the United States fell this week by 3.23 million barrels for the week ending April 19, according

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Federal Agencies Target ExxonMobil And Chevron Acquisitions

Uncategorized / By Siim

Oil is refined into gasoline, diesel, and jet fuel 24/7 at fewer and fewer refineries around the … [+] nation. getty The Securities and Exchange Commission and Federal Trade Commission are evaluating pending oil company consolidations because of antitrust and climate related concerns. The ExxonMobil XOM acquisition of Pioneer Natural Resources PXD and Chevron’s CVX

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Oil steady around weekly low while markets are unwinding risk premium over tension in Middle East

Uncategorized / By Siim

Oil turns flat for this Friday with markets writing off Middle Eastern tensions during APAC session. WTI Oil prices retreat from $85.00, while Brent dips below $90. The US Dollar Index eases as well on a turnaround from safe haven inflows earlier on the back of headlines. Oil prices are dropping lower with markets having

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‎Oil rises over 1% amid concerns of escalating conflict in Middle East

Uncategorized / By Siim

Oil drilling rigs Oil prices increased on Friday, amid investor concerns about the escalating conflict in the Middle East following reports of explosions in the Iranian city of Isfahan believed to be an Israeli attack. Brent crude futures for June delivery rose by 1.89% or $1.60 to $88.76 a barrel at 09:01 am Makkah Time.

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Oil Prices Slip as Investors Eye Israel’s Response to Iran Strike

Uncategorized / By Siim

Oil prices have experienced a slight decrease for the third day in a row, after reaching a six-month record. Investors have seemingly shrugged off fears of a wider Middle East war disrupting supplies. Brent crude, the international benchmark, fell by 3.03% to $87.29 per barrel for June. Meanwhile, West Texas Intermediate, the U.S. marker, dropped

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Author name: Siim

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