Crude at $80 a Barrel? No Sweat, Say Oil Producer CEOs

Posted by Forexsq 3 days ago (
img U.S. energy companies are shrugging off a 24 percent plunge in oil prices, confident they can adapt and still make money.

Amid predictions that the biggest drop in crude prices since the global financial crisis six years ago will choke off cash flow and slow drilling, industry leaders are reassuring investors they still have the means to return ample profits. Improved technology is bringing do

Oil prices recover as FOMC, supply data loom

Posted by Forexsq 2 days ago (
img Crude-oil futures moved higher on Wednesday ahead of the U.S. Federal Reserve meeting, and a final reading on U.S. oil inventories due later in the day.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in December CLZ4, +1.18% traded at $82.43 a barrel, up $1 in the Globex electronic session. December Brent LCOZ4, +1.46% crude on London’s ICE Futures exchange rose

While You Were Getting Worked Up Over Oil Prices, This Just Happened to Solar

Posted by Forexsq 1 day 11 hours ago (
img Every time fossil fuels get cheaper, people lose interest in solar deployment. That may be about to change.

After years of struggling against cheap natural gas prices and variable subsidies, solar electricity is on track to be as cheap or cheaper than average electricity-bill prices in 47 U.S. states -- in 2016, according to a Deutsche Bank report published this week. That’s assuming the U.S.

Shale Boom Redraws Oil Routes as Alaskans Ship to Korea

Posted by Forexsq 9 hours ago (
img For signs of how the U.S. shale boom is transforming the global flow of oil, look halfway across the world at South Korea.

The Asian nation, which relies on the Middle East for about 86 percent of its oil imports, is benefiting as new output from Texas to North Dakota displaces the crudes that fed U.S. refineries for decades. South Korea received this month a shipment of Alaskan oil for the fi

Why Oil Prices Went Down So Far So Fast

Posted by Forexsq 9 hours ago (
img The reasons oil prices started sliding in June were hiding in plain sight: growth in U.S. production, sputtering demand from Europe and China, Mideast violence that threatened to disrupt supplies and never did.

After three-and-a-half months of slow decline, the tipping point for a steeper drop came on Oct. 1, said Ray Carbone, president of broker Paramount Options Inc. That’s when Saudi Arabia

Oil prices tumble; Goldman slashes forecast

Posted by Forexsq 4 days ago (
img Oil futures fell sharply on Monday, after Goldman Sachs slashed its forecast for prices, predicting West Texas Intermediate crude will prices will spend the better part of 2015 at $75 a barrel.

Energy shares drag on Wall Street as crude prices fall

Posted by Forexsq 4 days ago (
img Energy shares dragged Wall Street lower on Monday as crude prices fell further, while readings on the services sector and home sales came in below forecasts.

Brent crude oil LCOc1 fell below $85 a barrel and U.S. crude CLc1 dipped below $80 after Goldman Sachs slashed its price forecasts, citing abundant supply and lackluster demand. The S&P 500 energy sector .SPNY was down 2.6 percent, the la

Gold Rises From 1-Week Low as Investors Assess Economy

Posted by Forexsq 7 days ago (
img Gold rose from the lowest in a week as the dollar declined, boosting demand for the precious metal as an alternative investment.

The dollar dropped for the first time in four days against a basket of currencies as an Ebola diagnosis in New York crimped risk appetite. Gold slumped 8.4 percent last quarter as the greenback posted the biggest jump since 2008 and equities surged to a record. Globa

Shale Boom’s Allure to Wall Street Tested by Bear Market

Posted by Forexsq 8 days ago (
img Falling oil prices are testing investors’ commitment to the Wall Street-funded shale boom.

Energy stocks led the plunge earlier this month in U.S. equities and the cost of borrowing rose. The Energy Select Sector Index is down 14 percent since the end of August, compared with 3.8 percent for the Standard & Poor’s 500 Index. The yield for 190 bonds issued by U.S. shale companies increased by an

Oil Producers Cramming Wells in Risky Push to Extend Boom

Posted by Forexsq 8 days ago (
img U.S. shale producers are cramming more wells into the juiciest spots of their oilfields in a move that may help keep the drilling boom going as prices plunge.

The technique known as downspacing aims to pull more oil at less cost from each field, allowing companies to boost profit, attract more investment and arrange needed loans to continue drilling. Energy companies see closely-packed wells a

Gold sinks as investors embrace risk

Posted by Forexsq 8 days ago (
img Gold futures fell Thursday, undercut as upbeat economic data and favorable corporate earnings results propelled stocks higher, signaling renewed investor appetite for risk and undercutting demand for so-called safe-haven assets like gold

Russia Loses Oil Ally in De Margerie After Moscow Crash

Posted by Forexsq 9 days ago (
img Christophe de Margerie’s last act as chief executive officer of Total SA (FP) left no room for doubt about his feelings toward Vladimir Putin’s Russia.

In a Moscow speech hours before the plane crash that took his life two days ago, de Margerie said U.S. and European Union sanctions on the country were “unfair and unproductive,” and that he opposed efforts to render it “isolated from the major

French Oil Giant Boss Dies in Moscow Executive-Jet Crash

Posted by Forexsq 10 days ago (
img Total SA (FP)’s Christophe de Margerie died when his airplane struck a snowplow on a Moscow runway, ending a career in which he oversaw the biggest expansion of oil reserves at the French energy giant in at least 15 years.

The 63-year-old chief executive officer, who’d been attending a summit of foreign investors in Russia, was returning to Paris when his private jet crashed in poor visibility

Oil Slump Rings Alarm Bells for Nigeria as Elections Loom

Posted by Forexsq 10 days ago (
img Nigeria’s efforts to prop up its currency months before presidential elections are being undone by the slide in oil prices.

The naira tumbled to within 0.3 percent of a record low as Brent crude fell to the lowest level in more than four years. While some of the world’s biggest banks say the collapse in oil is just about over, further losses would force Africa’s largest producer to choose betw

Total CEO dies in plane crash

Posted by Forexsq 10 days ago (
img French oil company Total has confirmed the death of its chairman and CEO, Christophe de Margerie, in a crash between his private plane and a snowplow at Moscow international airport.

Three members of the plane's crew were also found dead at the scene of the accident.

Russian officials said they had already established that the snowplow driver was drunk but would also consider other possible

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