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Brent oil price the main factor in U.S. gasoline prices -EIA

WASHINGTON, Oct 30- U.S. gasoline prices are mainly set by global oil prices, a government report said on Thursday, a conclusion that should ease concerns among some lawmakers that lifting a crude oil export ban would mean pain at the pump for American motorists. In essence the report supported the notion that easing the export restriction, imposed by Congress in ...

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National Oilwell posts 60 pct fall in oilfield equipment orders

Oct 30 – National Oilwell Varco Inc, the largest U.S. oilfield equipment provider, said orders at a unit that make rigs and drilling components fell 60 percent, overshadowing a better-than-expected quarterly profit. The company’s shares fell as much as 4 percent in early trading. Oil and gas companies, facing increasing pressure from investors, have been cutting back on spending to ...

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Anadarko-affiliated partnership purchases Nuevo Midstream

Pipeline

Western Gas Partners, formed by Anadarko Petroleum Corp., is paying $1.5 billion for the Houston, Texas-based midstream company, Nuevo Midstream. Nuevo Midstream focuses on gathering, processing and transporting oil and gas from the Permian Basin. The assets of the company include a processing plant, a treatment facility, four compression stations and a 275-mile gas gathering system.  The company also has ...

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Natural gas price outlook: still cheap

Last winter, at the height of the polar vortex, skyrocketing demand sent the spot market price of natural gas in the Northeast through the roof. Most residential customers didn’t notice because their bills are kept level and their gas kept flowing by state laws that require utilities such as UGI Gas to make sure there is enough natural gas in ...

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Shell Midstream surges in 1st day on NYSE

HOUSTON — Shell Midstream Partners LP is soaring in its debut on the New York Stock Exchange. Its common units jumped $9.32, or 40.5 percent, to $32.32 in Wednesday morning trading. Shell Midstream’s initial public offering of 40 million common units raised $920 million. The master limited partnership, which was created by Royal Dutch Shell to own, run, develop and ...

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Brent steady above $86 as market awaits Fed statement

Increasing price of oil concept as an gasolene drum spilling petroleum with the black liquid shaped as an upward stock market graph arrow as a metaphor for rising costs of fuel on a white background.

TOKYO, Oct 29- Brent oil prices held steady above $86 a barrel on Wednesday as investors awaited guidance from the Federal Reserve on U.S. monetary policy later in the day and after industry data on U.S. inventories came in more or less as expected. Investors were also awaiting data on closely-watched stockpiles from the U.S. government’s Energy Information Administration due ...

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