Home / Tag Archives: U.S. crude (page 2)

Tag Archives: U.S. crude

U.S. crude output cuts will only come if prices stay low – Goldman

Further U.S. production cuts needed to rebalance oil markets will only happen if U.S. crude prices remain low, at around $45 a barrel, Goldman Sachs said late on Monday. U.S. oil dropped to around $48 on Tuesday morning, curbing 8 percent gains recorded the session before after the downward revision of U.S. output data by the U.S. Energy Information Administration ...

Read More »

Oil prices surge in short-covering rally: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Front-month Brent crude futures surged more than 10 percent higher yesterday, one of the largest daily percentage movements on record, as traders raced to cover short positions. U.S. crude futures rose almost as much, with the October contract ending the day up by more than ...

Read More »

Oil prices likely to stay low following market correction, Billings experts say

Local industry and investment experts said Monday they expect continued struggles for the oil and gas industry following sub-$40-a-barrel prices and big drops in Wall Street stocks across the board. Prices of sweet crude fell to their lowest in 6 1/2 years, dropping to around $38 a barrel on some exchanges. The industry has struggled with a worldwide supply glut ...

Read More »

Hedge funds aggressively bearish towards U.S. crude: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – A relatively small group of hedge fund managers has placed a record bet on U.S. oil prices declining further in the months ahead. Hedge funds and other money managers had accumulated gross short futures and options positions totalling 163 million barrels in the main NYMEX ...

Read More »

Oil near six-and-a-half-year low on Japan slowdown, China worry

NEW YORK – Oil prices fell on Monday with U.S. crude near 6-1/2-year lows after No. 3 consumer Japan suffered an economic contraction in the second quarter and China’s slowdown continued to weigh on oil market sentiment. A stronger dollar <.DXY> after the fastest pace of growth in U.S. industrial output in eight months also made greenback-denominated commodities, including crude, ...

Read More »

U.S. approves landmark crude oil export swaps with Mexico

WASHINGTON – The Obama administration will allow limited sales of U.S. crude to Mexico for the first time, a senior administration official told Reuters, marking another milestone in loosening a contentious ban on exporting domestic oil. The Commerce Department is “acting favorably on a number of applications” to export U.S. crude in exchange for imported Mexican oil, the official said. ...

Read More »