crude oil prices

fracking

Rig Count Steady, Hedge Funds Dump Short Contracts on 63 Million Barrels

In the week ended August 26, the number of rigs drilling for oil in the United States totaled 406, unchanged compared with the prior week, and down from a total ...
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Pumpjack

Short Sellers Can’t Make Up Their Minds on Major Oil

The short interest data have been released for the August 15 settlement date. With oil prices seemingly on the slow path to recovery and the Dow and S&P 500 hitting ...
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Oil Barrels

Rising Crude Oil Inventory Stifles Prices After Volatile Week

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories increased by 2.5 million barrels last week, maintaining a total U.S. commercial ...
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fracking

Rig Count Rises by 10, Huge Short Covering in Crude Market

In the week ended August 19, the number of rigs drilling for oil in the United States totaled 406, up by 10 compared with the prior week but down from a ...
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Oil Barrels

Crude Oil, Gasoline Inventories Dip, but Traders Remain Cautious

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories decreased by 2.5 million barrels last week, maintaining a total U.S. commercial ...
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Oil pumps

Merrill Lynch Makes 4 Big Oil Upgrades, Bracing for $60 Oil in 2017

Can it finally be the case that there is good news in the oil patch these days? It may be true, but the qualification for what makes for good news ...
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Oil rig

Why 7 Straight Weeks With Higher Oil Rig Count Matters So Much

Baker Hughes Inc. (NYSE: BHI) released its weekly rig count, and despite oil not being over $50 a barrel, the count of rigs was still higher. What this means is ...
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Petrobras

What to Expect From Petrobras Earnings

Petróleo Brasileiro S.A. (NYSE: PBR), better known as Petrobras, is set to release its second-quarter earnings report. The consensus estimates from Thomson Reuters call for $0.13 in earnings per share on ...
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oil field sunset

Why Chesapeake’s Exit of Barnett Shale Matters So Much

Shares of Chesapeake Energy Corp. (NYSE: CHK) rose on Thursday after the top natural gas producer agreed to exit the Barnett Shale operating area located in North Texas. It is terminating future commitments ...
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Oil Barrels

Oil Players See Very Mixed Results After Weekly Oil and Gasoline Inventories

On Wednesday the OPEC oil market report gave its forecasts for oil demand and supply trends. Now we have the Energy Information Administration (EIA) weekly crude oil and gasoline inventories. These ...
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oil tanker

Despite Mixed OPEC Outlook, Saudi Arabia Oil Output Hits Record High

The Organization of the Petroleum Exporting Countries (OPEC) has released its monthly oil market report for August. Despite the price of oil being low, there are several key surprises in this ...
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Pumpjack

Major Oil Sees Short Interest Back Off

The short interest data have been released for the July 29 settlement date. With oil prices seemingly on the slow path to recovery and the Dow and S&P 500 hitting ...
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Oil rig

Fracking Makes Big Comeback as Drilling Rises

For the first time in a year, the number of rigs drilling for oil has risen for six straight weeks. Coincidentally, last year's increase occurred in July and August as ...
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fracking

Oil Rig Count Up by 7 Last Week, Hedge Funds Scooping Up Short Contracts

In the week ended August 5, the number of rigs drilling for oil in the United States totaled 381, up by seven compared with the prior week and a total of ...
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Oil Barrels

Crude Oil Price Plunges, Then Bounces on Storage Report

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories increased by 1.4 million barrels last week, maintaining a total U.S. commercial ...
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