Fed is likely to raise its key rate two more times – Dallas Federal Reserve The last time the world’s central banks diverged on policy came as the Fed increased its key rate in December 2015. It’s happening again. The U.S. Federal Reserve continued its policy of quantitative tightening last week by raising the key rate 25 basis points, and
Oil bounces back after official data shows yet another crude inventory draw Oil prices came back from a nearly 2% decline Wednesday morning following news from the Energy Information Administration that U.S. crude oil inventories fell last week. The oil inventory draw is the seventh time in the last eight weeks that stores of crude went lower despite analysts’ expectations
After failure to reach production freeze producers are ready to increase exports Had a production freeze agreement been reached among OPEC and non-OPEC producers last Sunday, it would have marked the first time in 15 years that Russia cooperated with the oil producing group. While oil prices have continued to hold above $40 per barrel despite the lack of an
18-year-low prices for LNG piquing interest in new parts of the world LNG prices have suffered a fate similar to oil, with most contracts linked to the price of crude oil now worth substantially less than they were two years ago. This, along with faltering demand in Asia, has called into question the economics of many major LNG projects, but
U.S. natural gas inventories show 25 Bcf draw U.S. natural gas inventories saw a larger than expected draw today, according to information from the Department of Energy. The DOE reported natural gas inventories for the week ended March 25, 2016, were down 25 Bcf to 2,468 Bcf. The current level of natural gas in storage is still above average, but
Hopes of a coordinated cut from OPEC continue to spur WTI prices Prices for U.S. crude oil benchmark WTI were up over 12% at 1:20 p.m. EST today on continued hopes that OPEC would cut production in order to bolster prices. WTI approached 12-year lows yesterday as the global supply cut persisted, until news that OPEC was ready to consider
Producing Countries are Floundering, whileTwo Big Users Soar Crude oil is one of the most important commodities in the world, with many economies around the world depending on producing and selling oil for the bulk if not all of their national revenues. The precipitous drop in prices over the last 18 months has changed the playing field for oil and
Non-OPEC producer says it’s ready to cut production, but “everyone has to do the same” Oman became the first non-OPEC oil producer to say that it will cut its production if done in coordination with other producers. Oman’s oil minister, Mohammad bin Hamad al-Rumhy, said the Persian Gulf nation would be willing to cut 5%-10% at an energy event in
Certain crude grades from around the globe are already at or below $20 per barrel Oil and gas prices for the U.S. crude benchmark WTI, and international crude benchmark Brent, closed below $30 per barrel today, but some producers are already seeing less for their oil. The price for some grades of crude oil is already below $20 per barrel
Oil prices coming in line with their historic levels during the past 41 years As companies, analysts and others look at oil prices stabilizing in the $45-$50 range for U.S. crude oil benchmark WTI as a post-Thanksgiving 2014 “new normal,” Oil & Gas 360® along with EnerCom Analytics took a historic look at the price of oil and found the
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