A surprise surge in the U.S. crude inventories put pressure on oil futures on Wednesday. Moreover, the outlook of a slowing global oil demand maintained by the ongoing U.S. trade differences with China and Mexico also weighed on prices. As a result, WTI futures dropped by 3.4% to $51.68 a barrel, while Brent crude lost 2.2% to close at $60.63 a barrel.
read more... 06/06/2019
Crude oil prices continued to fall on Monday, under the heavy influence from the ongoing demand-side concerns stoked by U.S.-China trade tensions and threats of U.S. tariffs on Mexico. Brent crude slumped by 5% to $61.28 a barrel, while WTI futures traded 0.5% lower at $53.25 a barrel.
read more... 04/06/2019
Crude oil prices dipped to a six-month low on Friday, due to a worsening outlook for the global trade after U.S. President Donald Trump warned that the U.S. will levy a 5% tariff on its imports from Mexico effective from June 10, until the latter stops the illegal immigration flows into the U.S. The latest tariff threats added to the ongoing bearish impact from the prolonged U.S-China trade war. Brent crude sank by 3.6% to $64.49 a barrel, while WTI futures plunged by 5.5% to $53.50 a barrel.
read more... 03/06/2019
The Appomattox field, which is located approximately 128km southeast of Louisiana in the deep-water Gulf of Mexico, has commenced production
read more... 24/05/2019
Norwegian oil company Equinor has increased its stake in the Caesar Tonga oilfield in the U.S. Gulf of Mexico by buying Royal Dutch Shell’s 22.45% stake for $965 million in cash.
read more... 14/05/2019