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West Texas Intermediate (WTI)

The world’s biggest oil traders are counting hefty losses after a surprise doubling in the price discount of U.S. light crude to benchmark Brent in just a month, as surging U.S production upends the market. more

Refining/Petrochemical

Oil prices were set for a second straight week of decline on Friday after Libyan ports reopened and on the view that Iran might still export some crude despite U.S. sanctions. more

Refining/Petrochemical

Oil prices fell about 1 percent on Thursday, with expectations building that OPEC could wind down the output deal in place since the start of 2017, due to supply concerns out of Venezuela and Iran. more

Refining/Petrochemical

Oil prices kept rising to their highest since late 2014 as U.S. crude inventories declined, moving closer to five-year averages, and after sources told Reuters that top exporter Saudi Arabia aims to push prices even higher. more

Refining/Petrochemical

Oil prices are likely to rise this year thanks to supply disruptions and an OPEC-led deal to limit production, but doubts over the future of compliance with the multilateral agreement and rising U.S. production could stem the upward momentum... more

Refining/Petrochemical

Crude oil futures slipped on Monday, but a rebound in stock markets and escalating Saudi-Iran tensions capped losses. more

Refining/Petrochemical

Oil prices fell on Monday on expectations that U.S. output will rise this year, erasing earlier gains buoyed by lower weekly U.S. rig counts and falling U.S. unemployment. more

Refining/Petrochemical

Oil prices were broadly steady on Thursday but still set to slip over the week for the second time in a row against a backdrop of rising U.S. crude production and an increase in inventories. more

Refining/Petrochemical

Exports of U.S. crude oil to Asia appear to be starting to struggle under the weight of a narrowing discount for its domestic benchmark crude to international grades and efforts by other suppliers to maintain competitiveness. more

Refining/Petrochemical

Oil prices struggled to stay in positive territory on Wednesday after data showed industrial activity in some of the world’s major crude-consuming nations has softened. more

Refining/Petrochemical

Oil edged lower on Tuesday ahead of weekly data that is forecast to show a rise in U.S. crude inventories, although investor faith in OPEC’s ability to curtail production helped stem a larger price slide. more

Refining/Petrochemical

Oil fell for a third day on Wednesday, dropping nearly 1 percent on concerns about rising U.S. production and another drop in financial markets after U.S. consumer prices rose more than expected. more

Refining/Petrochemical

Oil rose on Monday, recouping some of last week’s steep losses as global equities steadied after their biggest one-week decline in two years. more

Refining/Petrochemical

Oil prices fell for a sixth day on Friday, and were on track for their biggest weekly losses in 10 months, as record-high U.S. crude output added to concerns about a sharp rise in global supplies. more

Refining/Petrochemical

Oil prices neared their lowest in a month on Monday as rising U.S. output and a weaker physical market added to the pressure from a widespread decline across equities and commodities. more

Refining/Petrochemical

Oil prices slid on Friday, putting them on course for the biggest weekly falls since October, as a bounce-back in U.S. production outweighed ongoing declines in crude inventories. more

Drilling & Exploration

Surging shale production is poised to push U.S. oil output to more than 10 million barrels per day - toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago. more

Drilling & Exploration

Oil hovered below a three-year high near $70 a barrel on Monday on signs that production cuts by OPEC and Russia are tightening supplies, but analysts warned of “red flags” due to surging U.S. production. more

Refining/Petrochemical

EIA’s January Short-Term forecasts Brent crude oil to average $60/b in 2018 and $61/b in 2019, slightly higher than the $54/b average in 2017. Because crude oil prices are expected to be relatively flat through 2019, U.S. gasoline prices are also exp more

Refining/Petrochemical

EIA Figure 1. Wst Texas Intermediate (WTI) crude oil price

Source: U.S. Energy Information Administration, Short-Term Energy Outlook, January 2018, and CME Group

The price of Brent crude oil averaged $54/barrel (b) in 2017, an increase of $10/b from 2016. EIA’s January Short-Term Energy Outlook forecasts Brent to average $60/b in 2018 and $61/b in 2019. In both 2018 and 2019... more

Refining/Petrochemical

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