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Crude oil futures slip on Saudi reassurance, bearish US stock data

1 hour ago DieselGasoil Comments Off on Crude oil futures slip on Saudi reassurance, bearish US stock data
Singapore — Crude oil futures were marginally lower during mid-morning trade in Asia Wednesday following reassurances by Saudi Arabia that it would be able to resume production in two weeks and after the release of bearish US data on last week’s oil stocks. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Read More

Costly Saudi defenses prove no match for drones, cruise missiles

2 hours ago DieselGasoil Comments Off on Costly Saudi defenses prove no match for drones, cruise missiles
RIYADH/DUBAI (Reuters) – Billions of dollars spent by Saudi Arabia on cutting edge Western military hardware mainly designed to deter high altitude attacks has proved no match for low-cost drones and cruise missiles used in a strike that crippled its giant oil industry. Smoke is seen following a fire at Aramco facility in the eastern Read More

‘Crazy’ for Polish PM to suggest Nord Stream 2 pipeline is a ‘threat’ to European energy security

9 hours ago DieselGasoil Comments Off on ‘Crazy’ for Polish PM to suggest Nord Stream 2 pipeline is a ‘threat’ to European energy security
It is “rubbish” for Polish PM Mateusz Morawiecki to claim that the Nord Stream 2 pipeline, which will deliver a supply of cheap gas from Russia to the EU, is a “threat” to European energy security, analyst John Laughland told RT. Morawiecki said at a press conference on Tuesday that the pipeline, currently under construction, Read More

Crude settles lower as Saudis say able to restore full production capacity by end-November

9 hours ago DieselGasoil Comments Off on Crude settles lower as Saudis say able to restore full production capacity by end-November
New York — Crude futures settled lower Tuesday on news that Saudi Arabia will be able to restore its full crude production capacity by the end of November. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now NYMEX front-month crude settled $3.56 lower at $59.34/b, while ICE front-month Brent settled Read More

Houston prepares to say ‘Howdy Modi’ as gas producers eye deals

10 hours ago DieselGasoil Comments Off on Houston prepares to say ‘Howdy Modi’ as gas producers eye deals
By Joe Carroll and Naureen S. Malik on 9/17/2019 HOUSTON (Bloomberg) – Indian Prime Minister Narendra Modi’s imminent visit to the U.S. energy capital is fueling speculation the second most-populous nation will further tap America’s shale gas bonanza. Indian PM Narendra Modi Modi is scheduled to address upwards of 50,000 people at a sold-out event Read More

Brent below $65/b on report Saudi Arabia to return output in 2-3 weeks

10 hours ago DieselGasoil Comments Off on Brent below $65/b on report Saudi Arabia to return output in 2-3 weeks
New York — Brent crude futures tumbled below $65/b in US morning trading Tuesday following a report from Reuters that Saudi Arabia’s crude production would return in the next two to three weeks. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 1420 GMT, NYMEX front-month crude was trading Read More

Attacks on Saudi oil facilities – what will it mean for consumers?

12 hours ago DieselGasoil Comments Off on Attacks on Saudi oil facilities – what will it mean for consumers?
NEW YORK (Reuters) – The attack on Saudi facilities on Saturday caused the biggest oil supply disruption for more than 50 years. Here is what it could mean for consumers: Flames emerge from flare stacks at Nahr Bin Umar oil field, north of Basra, Iraq September 16, 2019. REUTERS/Essam Al-Sudani WHERE WILL I FEEL THE Read More

Oil sheds gains, stocks dip as Fed comes into focus

17 hours ago DieselGasoil Comments Off on Oil sheds gains, stocks dip as Fed comes into focus
LONDON (Reuters) – Oil shed some of its gains on Tuesday as the United States raised the possibility of releasing crude reserves, while stocks inched lower as investors waited for this week’s Federal Reserve meeting. FILE PHOTO: People walk past the entrance of the London Stock Exchange in London, Britain. Aug 23, 2018. REUTERS/Peter Nicholls Read More

Oil at $100 per barrel? Attack on Saudi refineries could shake oil market further

18 hours ago DieselGasoil Comments Off on Oil at $100 per barrel? Attack on Saudi refineries could shake oil market further
The drone strike on key Saudi oil facilities could stoke already-flaring tensions in the Middle East, driving crude prices higher amid growing fears of supply shortages, market and industry experts believe. The devastating attack on major Saudi oil refineries at Abqaiq and Khurais slashed the kingdom’s output by 50 percent and knocked out more than Read More

Oil slips as market assesses fallout from Saudi attack

19 hours ago DieselGasoil Comments Off on Oil slips as market assesses fallout from Saudi attack
LONDON (Reuters) – Oil prices slid on Tuesday, although the market remains on tenterhooks over the threat of a military response to attacks on Saudi Arabian crude oil facilities that halved the kingdom’s output and prompted a price spike not seen in decades. Oil pump jacks work at sunset near Midland, Texas, U.S., August 21, Read More