Oil – Reuters reported today that U.S. Benchmark Brent crude oil prices increased to their highest on almost six weeks on expanding sanctions against Russia over issues in Ukraine. However, the price rise was halted with news of the first oil tanker being reloaded on Tuesday at Libya's Hariga port after a month long closure.
Articles Tagged "Oil Market News"
Oil – The Globe and Mail reported that oil sands companies that rely on natural gas to run their operations may face a price squeeze as natural gas costs rise. The companies use gas to create steam to soften oil-rich bitumen deposits.
Oil – Bloomberg reported today that Houston and the US Gulf Coast now contain 202 million barrels of crude oil, according to Energy Information Administration data.
Oil – The Associated Press reported that benchmark U.S. crude oil for May delivery rose 90 cents to $101.34, while Brent crude came up 61 cents to $106.43 in London as investors continued to watch for weekly U.S. oil data.
Oil – Reuters reported this morning that the Libyan government has reached an agreement with rebels to end an oil port deadlock that has lasted for eight months. The port seizure, initiated by federalist protesters, has cost the Libyan economy billions of dollars so far.
Oil – Reuters reported today that U.S. crude oil rose at the end of last week as data showed strong jobs growth in the United States. Brent crude followed the ascent as investors cast doubt on the reopening of Libya's oil ports.
Oil – Reuters reported that a tanker carrying a cargo of oil has been seized by US special forces. The tanker "fled ... from a Libyan port controlled by anti-government rebels," and those controlling it had hoped to sell the fuel on the global market.
Oil – The Wall Street Journal reported that oil futures sank today due to expectations that western sanctions on Russia and Ukraine probably will not impact oil and gas supply.
Oil – The Wall Street Journal reported that in February, Iran's oil exports surged on the back of a "thaw" in the country's relationship with the western world.
Oil – In a recent special energy report, U.S. Global Investors looks at the state of the U.S. energy market and elaborate on the ways that investors can benefit.