A looming gas glut worldwide is prompting Japanese and Indian firms to resell to European traders and utilities big chunks of U.S. liquefied natural gas they had committed to buy several years ago, signaling tempered enthusiasm for U.S. energy.
Tags: Oil
Oil prices headed still lower even as Saudi curbs output: PIRA's Ross
World oil prices are set to fall further, extending a months-long rout as Saudi Arabia is unlikely to make deep enough production cuts to erase a growing surplus of supply, according to Gary Ross, chief executive of PIRA Energy Group.
As global oil futures tumble, U.S. cash crude traders ask: What glut?
An unusual disconnect has emerged in the U.S. oil market, with headline futures slumping to levels below $90 a barrel even as traders in the physical crude market report surprisingly robust demand and strong pricing.
Dollar scales six-year peak vs. yen, euro struggle intensifies
The dollar rose above 110 yen for the first time in six years and held near a two-year peak against the euro on Wednesday, as investors added to bets that U.S. data will drive the Federal Reserve to tighten policy.
Asia airlines raise hedging volumes on oil price fall
Airlines in Asia are stepping up jet fuel hedge volumes after oil prices fell below $100 a barrel this month, with some locking in fuel purchases as far out as 2016, suggesting airlines see oil prices bottoming.
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The asset with the greatest prowess of late has been the U.S. dollar, and if its rally continues, it threatens to eat into the earnings of multinational companies.
Canoe Financial LP (the "Manager" or "Canoe") announced today that it has completed the second and final closing for the initial public offering (the "Offering") of limited partnership units ("Units") of Canoe 2014 Flow-Through LP (the "Partnership") in each of the provinces of Canada, except Quebec.
By utilizing shale gas reserves in the country, Saudi Arabia can use the now popular energy resource for local purposes and use its oil for exclusively for export purposes.
Euler Hermes reported a projected 3.5% growth in UAE due to infrastructure developments and growth in business.
Igor Sechin was quoted as saying the potash controversy between Belarus and Russia would not affect the business of the Russian oil giant.
The oil consortium led by Essar oil is questioning a planned move to rescind an award over oil fields made seventeen years ago.
Zambia would invest US$410 million to build an oil refinery that could lower the fuel costs. Christopher Yaluma, Zambia's Mines and Energy Minister, stated that the country planned to build an oil refinery worth US$410 million.
Russia announced that it would lift its oil exports in Asia and consequently decrease the distribution for Europe.
As part of India's ongoing campaign to attract investors, the Oil Minister approved the raising of natural gas prices.
