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.
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.
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.
Asian shares slipped on Tuesday as a periodic bout of angst over China combined with the U.S. dollar's recent meteoric run to pile pressure on commodity prices.
The Rockefellers, who made their vast fortune on oil, and other philanthropies and high-wealth individuals on Monday will announce pledges to divest a total of $50 billion from fossil fuel investments.
Industrial conglomerate Siemens AG (SIEGn.DE) said on Monday it would buy U.S. oilfield equipment maker Dresser-Rand Group Inc (DRC.N) for $7.6 billion, in a move that would significantly boost the German company's oil and gas business in North America.
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.
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.
Russia announced that it would lift its oil exports in Asia and consequently decrease the distribution for Europe.
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