Oil

Oil Extends Losses As ‘Short-Squeeze’ Ammo Is Now Exhausted

Monday, August 29, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com Aug 29, 2016 WTI Crude is now down 6% from last week’s highs, back below $47 as supply concerns (Abu Dhabi production rise and ConocoPhilips’ CEO comments) and OPEC freeze talks doubts have combined with the biggest collapse in speculative short positions in history (following the Saudi statement) – removing... »

Explosion rocks California’s largest oil refinery, investigation underway

Saturday, August 27, 2016
By Paul Martin

RT.com 27 Aug, 2016 An explosion at an oil refinery in Los Angeles sent a cloud of chemicals, including sulfur, into the air. No injuries were reported, but members of the public were advised to stay indoors as a precaution. The blast took place on Friday afternoon when a sulfur tanks exploded at the... »

Oil Spikes On Iran Report Saudi Aramco Facilities Hit By Yemen Missiles

Friday, August 26, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com Aug 26, 2016 Yemeni forces have fired ballistic missiles at the facilities belonging to the Saudi state oil giant Aramco in the kingdom’s southwest, Iran’s PressTV report. The retaliatory attack took place on Friday, hitting targets in Saudi Arabia’s Jizan region and causing considerable damage to the Aramco facilities there,... »

Debt At The Big 4 Oil Companies Hits A Record $184 Billion

Wednesday, August 24, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com Aug 24, 2016 So what do you do when the commodity you harvest and sell suddenly collapses by 50-60% and slashes your operating profit? If you said, raise a whole bunch of debt and continue spending on new capital projects to drill for even more supply in a collapsing market... »

Crude Slammed After Inventory Builds Across Entire Oil/Product Complex

Wednesday, August 24, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com Aug 24, 2016 Following API’s reported biggest crude build in 4 months overnight, which weighed on oil prices, DOE exasperated the pain by signaling builds across the entire complex. Crude’s build of 2.5m barrels (biggest in 3 months) was less than API but more than the expectd 850k draw but... »

We’ve Entered the Twilight Zone in Oil

Sunday, August 21, 2016
By Paul Martin

Why this is Not the Time to Chase Oil Stocks. by Dan Dicker WolfStreet.com August 21, 2016 We’ve entered the twilight zone in oil, where rumors and financial moves in outer markets are affecting oil and the stocks we’ve accumulated, making trading these markets not only difficult, but dangerous. We’ve got to stay disciplined... »

Mexico’s “Legendary” Oil Hedging Desk Is Quietly Preparing For The Next Plunge

Friday, August 12, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com Aug 12, 2016 While oil longs and Saudi Arabia are enjoying this week’s latest, substantial short squeeze, prompted if not so much by the latest set of cheerful, if repetitve, IEA “rebalancing” forecasts, the fundamental reality as confirmed not only by a recent Morgan Stanley report which sees oil dropping... »

Iraq’s Deal With Oil Majors Could Crush OPEC’s Output Freeze Plans

Thursday, August 11, 2016
By Paul Martin

by Tsvetana Paraskova via OilPrice.com, ZeroHedge.com Aug 11, 2016 Iraq and oil majors BP, Shell, and Lukoil have agreed to resume investments in oil fields the foreign groups are developing, which is expected to raise the country’s crude output by 250,000-350,000 barrels per day in 2017, Reuters reported on Thursday, quoting Iraqi officials –... »

20 Months, 90 Bankruptcies In North-American Oil & Gas

Thursday, August 11, 2016
By Paul Martin

By Erwin Cifuentes OilPrice.com Aug 08, 2016 A report published earlier this month by Haynes and Boone found that ninety gas and oil producers in the United States (US) and Canada have filed for bankruptcy from 3 January, 2015 to 1 August, 2016. Approximately US$66.5 billion in aggregate debt has been declared in dozens... »

Oil Price Rise Only Temporary; Could Drop Back to Low $20s

Wednesday, August 10, 2016
By Paul Martin

by Bob Adelmann TheNewAmerican.com Wednesday, 10 August 2016 n light of record supplies of gasoline and crude oil, why are prices rising? After hitting a low of $26 a barrel in January, crude oil topped $52 a barrel in early June, only to drop below $40 a barrel last week. The recent rise back... »

Support Revolution Radio