News Oil 

India imports 270,500 bpd of Iranian oil in January

“TEHRAN- India imported 270,500 barrels per day (bpd) of oil from Iran in January, ship tracking data reviewed by Reuters showed” reports tehrantimes.com. India is restricted to buying 300,000 bpd of oil from Iran, but January’s import was below this figure as some cargoes were delayed.The U.S. imposed new sanctions on Iran’s oil sector in November but gave a six-month waiver to eight countries, including India, which allowed them to import some Iranian oil.India’s January imports from Iran were 10.4 percent lower than December, the tanker arrival data showed. Source: tehrantimes.com

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News Oil 

Why You Need Rose Oil in Your Beauty Regimen

“Make a body scrub with sugar, coconut oil and a few drops of rose oil” writes Chloe Hall for elle.com. Rose oil has been said to be an aphrodisiac and can evoke romantic feelings. There are so many ways to use rose oil and it’s gentle enough that you can experiment with it.Instead, we mean rose oil.It’s time to stop and smell the rose oil. Source: elle.com

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Futures News Oil 

Oil futures settle at highest since November, with U.S. prices up over 5% for the week

“Oil futures climbed Friday to settle at their highest since November, with U.S. benchmark prices up 5.4% for the week” writes Markets Commodities Reporter for marketwatch.com. March West Texas Intermediate oil CLH9, +2.21% rose $1.18, or 2.2%, to settle at $55.59 a barrel on the New York Mercantile Exchange.U.S.-China trade talk progress also helped to ease worries about energy demand. Source: marketwatch.com

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News Oil 

Americans value a free gas fill-up over a cash giveaway — but that’s no comfort to risk-averse investors

“Still, gas is subject to the whims of prices for crude oil, from which it is derived, and spikes in prices can become burdensome for consumers and investors” writes Markets Commodities Reporter for marketwatch.com. Regular unleaded gasoline prices on Friday morning averaged $2.302 a gallon at the pump — about 10% below the year-ago level, according to GasBuddy.MPC, +1.48% And, looking at the bigger picture for gasoline prices, they may end up being a bit cheaper at the retail level this year than last.Volatile prices make gasoline a particularly risky…

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Markets News Oil 

Oil heads for weekly rise of about 5% as U.S.-China trade talks progress, crude supplies tighten

“The oil field has capacity to produce more than 1 million barrels of oil a day” writes Markets Commodities Reporter for marketwatch.com. U.S. benchmark March West Texas Intermediate crude oil CLH9, +2.17% rose $1.03, or 1.9%, to $55.44 on the New York Mercantile Exchange.Week to date, WTI prices trade around 5.1% higher, while Brent was looking at a rise of 5.6%, based on FactSet data.Oil futures gained Friday, buoyed by signs of tighter global supplies and progress in trade talks between the U.S. and China, padding what will be a…

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News Oil 

The Energy 202: EPA plan to rid drinking water from toxic chemicals sparks divisions in Washington

“The Greenpeace report also calls out technology companies, Amazon Web Services in particular, for needing to do more to push for renewable energy sources” writes February At Am for washingtonpost.com. But the agency isn’t setting that limit just yet because, according to Ross, it wants to make sure any new rules will be defensible in court. Source: washingtonpost.com

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News Oil 

Cost of imported goods fall for third straight month, offering more evidence of waning inflation

“The drop in imported oil prices and other foreign goods is also lending a helping hand” writes Jeffry Bartash for marketwatch.com. What happened: The cost of imported fuel decreased 3.2% in January and it’s fallen 22.5% in the past three months.Lower oil prices once again played a big role in the declining cost of imports, but the price of a variety of consumer and industrial goods also fell. Source: marketwatch.com

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News Oil Reviews 

Oil Daily Review February 15, 2019

Oil Daily Review for February 15, 2019 Oil Risks Range-Bound Prices as Bullish Series Snaps The failed attempt to test the monthly-high ($55.75) may generate range-bound conditions for crude as oil prices snap the bullish series from earlier this week.   WTI Crude Oil and Natural Gas Forecast February 15, 2019 The WTI Crude Oil market initially pulled back during the day on Thursday but found enough support near the $53 level to turn around and form a bit of a hamm…   Saudi Aramco halts oil output at the…

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News Oil 

BP warns war on plastic will help cut global oil demand

“The oil major predicted a peak in global oil demand for the first time last year, and in its latest outlook report warned that a crackdown on plastic waste, which is made from fossil fuels, could play a role in slowing oil demand” writes Ben Marlow for telegraph.co.uk. The war on single-use plastics could cut demand for oil faster than previously expected over the next two decades, BP has warned.BP expects demand for oil to rise 0.3pc a year before plateauing in the 2030s.The “much slower” growth forecast is well below…

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