Oil Price Oil prices have been highly volatile over the past week, with Brent trading across a $6.75 per barrel (bbl) range to hit a seven-month low of $75.05/bbl intra-day on 5 August thanks to bearish news coming from the world’s largest economy. The latest U.S. jobs report revealed that the economy added 114,000 jobs in July, way lower than the Wall Street
Oil Price Goldman Sachs expects a $75 per barrel floor under Brent Crude prices that is unlikely to be breached due to the current macroeconomic fears of a U.S. recession. Oil prices slumped by 6% in the past few days, dragged down by weaker-than-expected jobs data in the U.S. on Friday, which sparked a massive selloff in equity markets globally and in
Oil Price The energy transition would need a major change in the mentality of stock market investors to succeed. Investors’ focus on relatively fast returns and immediate financial performance right now makes them reluctant to invest in transition companies. And this could become the death knell of that transition. “Public markets are probably the cheapest cost of capital,” KKR partner
U.S. News The crude oil market is currently tight but next year will likely be in surplus, with Brent prices declining into the mid-to-high $70s range, Morgan Stanley said. The tightness will hold for most of the third quarter, the bank said in a note dated on Friday, but equilibrium will return by the fourth quarter, “when seasonal demand tailwinds
Yahoo Finance (Bloomberg) — Saudi Arabia raised $1 billion more than previously expected from the sale of a stake in oil producer Aramco after a so-called stabilization period of the company’s shares ended. The government netted a total of $12.35 billion from the secondary offering, according to a statement. It sold a 0.64% stake in Aramco at 27.25 riyals a
World Oil (Bloomberg) – The chief executive of Barclays Plc said it would be unrealistic for the bank to heed calls from climate extremists for the finance industry to abandon oil and gas clients. Banks “cannot go cold turkey” on the oil and gas industry, Barclays CEO CS Venkatakrishnan told Bloomberg’s Anna Edwards at the Bloomberg Sustainable Finance Forum in
Oil Price Brent crude prices are set to rise to $86 per barrel this summer amid strong consumer demand which will put the market into a sizeable deficit in the third quarter, according to Goldman Sachs. Oil prices started this week higher, with a slight gain in Asian trade on expectations of higher fuel demand during the summer driving season. As
BOE Report Portfolio investors sold record volumes of petroleum last week after OPEC⁺ surprised the market by announcing plans to increase production starting from the fourth quarter of 2024. Hedge funds and other money managers sold the equivalent of 194 million barrels in the six most important futures and options contracts over the seven days ending on June 4. Fund
CNBC Saudi Arabia is set to raise more than $11.2 billion from its secondary public share offering in state-controlled oil giant Aramco, after the stock was priced at the lower end of its expected range. The company on Friday said it will price the 1.545 billion of shares on offer at 27.25 Saudi riyal ($7.27) apiece, with the sale expected
Oil Price The $12-billion secondary share offering of Saudi oil giant Aramco has drawn strong demand from foreign investors, sources with knowledge of the matter told Bloomberg on Thursday. Saudi Aramco launched on Sunday a secondary public offering of 1.545 billion shares of the company, representing approximately 0.64% of the company’s issued shares. Aramcos’s share offer sold out in hours after opening
World Oil (Bloomberg) – Saudi Aramco’s $12 billion share sale sold out shortly after the deal opened on Sunday, in a boon to the government that’s seeking funds to help pay for a massive economic transformation plan. The government had demand for all shares on offer in a few hours after books opened, according to terms of the deal seen
Oil and Gas 360 Publisher’s Note: Diversified Energy Company will be presenting at EnerCom Denver – The Energy Investment Conference on August 18-21, 2024. Register to attend. A Broader Audience of Investors is Expected to Expand our Shareholder Base and Enhance Trading Liquidity BIRMINGHAM, AL / ACCESSWIRE / May 29, 2024 / Diversified Energy Company PLC (LSE:DEC)(NYSE:DEC) (“Diversified” or the
