Oil – Bloomberg reported that US crude options volatility slumped as futures rallied to highest in a week on speculation that Japan’s stimulus program has been approved, which in turn, will boost fuel demand in the country.
Oil – Bloomberg reported that Statoil ASA rose as much as 2.3% after its discovery in the Gullfaks field in the North Sea, which could potentially mean cheaper oil.
Oil – Mining Weekly reported that BP Plc announced it was delaying Mad Dog Phase 2 project in the Gulf of Mexico due to rising costs.
Oil – Canadian Oil Recovery and Remediation Enterprises Ltd (TSXV:CVR) announced that through its partnership company SAR-CORRE MENA LIMITED, it has obtained a Request for Proposal document from the Kuwait Oil Company, and will attend a pre-tender meeting on May 7th.
Oil – Bloomberg reported that the Organization of Petroleum Exporting Countries (OPEC) will lower this month’s crude shipments by about 0.9% due to a weak global economy, according to Oil Movements.
Oil – Bloomberg reported that some Nebraska landowners have opposed the construction of the Keystone pipeline, which is designed to bring Alberta’s oil sands to US refineries.
Oil – Reuters reported that Brent crude prices increased to nearly $2 a barrel after a 6-day losing streak, as low prices triggered buying. Brent futures for June delivery have risen to $99.13 per barrel, after a $1.44 increase.
Oil – Bloomberg reported that two people familiar with the matter said the Kurdish government of Iraq has signed an agreement with Turkey to supply it directly with oil.
Oil – Africa Oil Corp (TSXV:AOI) announced that the first of 6 drill stem tests at the company’s Ngamia-1 well has been completed. The company confirms oil discovery at the Lower Lokhone well.
Oil – Bloomberg reported that some of the biggest stakeholders in the Utica Shale in Ohio are putting their acreage for sale as prices fall by as much as a third. US drillers Devon Energy Corp, EnerVest Ltd, and Chesapeake Energy Corp are selling their lands as results show lower production than what was earlier predicted.
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