Markets News Oil 

U.A.E., Kuwait Target June for Talks on Phasing Out Oil Cuts

“Kuwait said the cuts may end before 2019 if the market is re-balanced by June” writes Mahmoud Habboush Tracy for bloomberg.com. Kuwait on Monday appointed Bakheet Al-Rashidi to replace Almarzooq as oil minister, according to a royal decree published by the official news agency KUNA. Al-Rashidi has been president and chief executive officer of state-run Kuwait Petroleum International.OPEC and allied oil producers can draft a strategy in June to end global output cuts if the market is no longer oversupplied by then, the U.A.E.’s energy minister said.OPEC and other producers including Russia…

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News Oil 

Canola oil could cause weight gain and memory loss

“While foods like berries and salmon seem to stave off the disease, canola oil could be making it worse” writes Holly Van Hare for sun-sentinel.com. The new results are calling into question previous recommendations of canola oil as a healthful alternative to saturated fats.According to a recent study conducted on mice, just two tablespoons of canola oil per day can cause weight gain and severe progression of Alzheimer’s disease.Canola oil is often used for sautéing, baking, and other forms of cooking in the household and at restaurants.After six months on…

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News Oil 

Gas prices at five-week low and heading lower, AAA says

“Gas prices are at a five-week low and heading even lower thanks to bulging inventories and lower consumer demand, travel club AAA said in its weekly gas price update” writes Ron Hurtibise for sun-sentinel.com. Although wholesale crude oil prices remain above $55 a barrel, the OPEC agreement triggered an uptick in domestic crude oil production above the 9.7-million barrel-a-day mark for the first time since 1971.The average gas price in Broward County on Monday was $2.46, three cents less than the previous week.Increased supply and decreased demand typically leads to…

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News Oil 

JKX Oil rebuilds board after summer counter-coup

“The London-listed oil and gas producer endured a bitter counter-coup over the summer which ousted the chief executive and chief financial officer put in place following an overthrow a little over a year before” writes Andrew Wilson for telegraph.co.uk. The Ukraine-focused group expects to put its new appointments to a shareholder vote early in the new year after an exodus of non-executive directors after the exit of Tom Reed, former chief executive, and Russell Hoare, former CFO. The latest appointments include Adrian Coates, a director at Canada’s Thor Exploration, and…

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News Oil Reviews 

Oil Daily Review December 11, 2017

Oil Daily Review for December 11, 2017 Crude Oil Price News: OPEC Cuts And China Demand Give Stability Most commodities had a horrible week, but no one told Oil traders to be worried. Prices currently remain below November highs, but fundamental support is   Oil prices end higher for the session, fall for the week Oil prices climbed Friday, buoyed by supply risks tied to geopolitical tensions in the Middle East and the potential for an oil-workers’ strike in Nig   Baker Hughes reports a third-consecutive weekly rise in the…

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Crypto News Oil 

Cryptocurrencies may Impact the Oil Trading Industry Very Soon

“Oil trading is not necessarily a suitable industry, but it would yield some interesting results” writes Jp Buntinx for livebitcoinnews.com. According to Reuters, various countries – including Russia – want to sue cryptocurrencies for oil trading.It is unclear what the future holds for oil trading.Oil trading is a booming business.One thing that seems to be happening is how some sort of cryptocurrency-related effort will be launched soon. Source: livebitcoinnews.com Share This:

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News Oil 

U.S. oil-rig count rises in latest week

“The nation’s gas-rig count remained unchanged, at 180, in the past week, according to oil-field services company Baker Hughes” reports foxbusiness.com. The U.S. oil-rig count is typically viewed as a proxy for activity in the sector.The oil-rig count generally has been rising over the past year.After peaking at 1,609 in October 2014, low oil prices have put downward pressure on production and the rig count fell sharply. Source: foxbusiness.com Share This:

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News Oil 

How Olive Oil Became Green Gold

“Olive oil is not what you think it is” writes Nicola Twilley for theatlantic.com. Olive oil was so critical to Greek and Roman culture that wars were fought over it and fortunes made, much like the petroleum sheikhs of today.The demand was equally enormous: Olive oil powered lamps and preserved and enhanced food, and it was used as an all-purpose medicine, a contraceptive—even an aphrodisiac.We speak to Rodrigo Almeida, a professor of environmental science at the University of California, Berkeley, to find out how worried we should be about the…

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Crypto Futures News Oil 

Bitcoin mania could ramp up global efforts to dethrone the dollar, analyst says

“However, at the start of the month, U.S. regulators gave the green light for two of the world’s largest futures exchanges to list bitcoin futures” writes unknown author for cnbc.com. Bitcoin mania could prove to be the flashpoint for some of the world’s largest oil producing countries to make a major move against the dollar, according to one commodity analyst.Futures are derivatives, or financial instruments, that obligate a trader to either buy or sell an asset at a specified time and at a specified price.Such wild price swings have prompted…

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News Oil Reviews 

Oil Daily Review December 8, 2017

Oil Daily Review for December 8, 2017 Natural-gas futures settle near a six-week low; oil ends higher Natural-gas futures dropped more than 5% Thursday, with prices marking the lowest settlement for a front-month contract since late October. The Energy   November OPEC oil output drops to 6-month low: report Oil production from the Organization of the Petroleum Exporting Countries fell to the lowest level in six months in November, according to an S&P Glob   WTI Crude Oil and NASDAQ 100 Forecast December 8, 2017 The WTI Crude Oil market…

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