News Oil 

API data reportedly show a more than 10 million-barrel weekly rise in U.S. crude supply

“They also forecast supply declines of nearly 1.8 million barrels for gasoline and 2.6 million barrels for distillates” writes Markets Commodities Reporter for marketwatch.com. The EIA data are expected to show crude inventories up by 4 million barrels last week, according to analysts polled by S&P Global Platts.The American Petroleum Institute reported late Wednesday that U.S. crude supplies rose by 10.5 million barrels for the week ended Oct. 11, according to sources. November West Texas Intermediate crude CLX19, +0.47% was at $53.06 a barrel in electronic trading, down from the…

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Futures News Oil 

Oil moves up after 2-session decline, but worries over demand prospects persist

“They also forecast supply declines of nearly 1.8 million barrels for gasoline and 2.6 million barrels for distillates” writes Saefong William Watts for marketwatch.com. Meanwhile, the EIA on Tuesday also forecast U.S. shale oil production to rise 58,000 barrels a day in November to a record 8.971 million barrels a day.Weekly U.S. petroleum supply data is delayed by a day this week because of Monday’s Columbus Day federal holiday.The EIA data are expected to show crude inventories up by 4 million barrels last week, according to analysts polled by S&P…

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News Oil Reviews 

Oil Daily Review October 16, 2019

Oil Daily Review for October 16, 2019 EIA forecasts U.S. shale oil output to climb by 58,000 barrels a day in November Crude-oil production from seven major U.S. shale plays is forecast to climb by 58,000 barrels a day in November to 8.971 million barrels a day, according to…   WTI Crude Oil and Natural Gas Forecast October 16, 2019 For additional up-to-date Forex Trading information: News (https://www.dailyforex.com/forex-news/page-1), Technical Analysis (https://www.dailyforex.com/fore…   Crude Oil Prices May Fall on Cooling Brexit Deal Hopes Crude oil prices may fall alongside stocks as…

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News Oil 

U.S. ‘Deeply Concerned’ About Untrackable China Ships Carrying Iran Oil

“It was not clear what the Trump administration could do to stop the tankers from turning off transponders” writes Timothy Gardner for reuters.com. It has warned shipping companies, energy companies and port officials to be wary of trade in Iranian oil, in some cases telling them they could face sanctions for doing so.The administration believes that sanctions are on the verge of causing an economic depression in Iran, one of the officials said.Trump tightened U.S. sanctions in May in an effort to drive Iran’s oil sales to zero.Its oil exports…

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GBP News Oil 

Oil prices edge up as OPEC hints at deeper output cuts

“While a broader trade deal seems unlikely in the immediate future, the risks for the U.S.-China trade war have been fading.”” reports cnbc.com. Global benchmark Brent crude oil futures had risen 21 cents to $58.95 by 0310 GMT, up about 0.3% from the previous day’s close.Concerns of a global economic slowdown due to a lingering trade war between the United States and China and swelling U.S. inventories also pressured prices.But gains were limited due to lingering concerns of a global economic slowdown. The U.S.-China trade war will cut 2019 global…

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GBP News Oil 

Asia Pacific shares jump amid hopes of draft Brexit deal; South Korea cuts interest rate

“South Korea’s central bank cut its interest rate for the second time in three months on Wednesday, as expected, following its first cut in July” writes Weizhen Tan for cnbc.com. He was referring to the U.S.-China trade war.Mainland Chinese stocks rose in early trade, with the Shanghai composite up 0.44% and the Shenzhen component gaining 0.27%. Source: cnbc.com

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News Oil 

No Choice But to Invest in Oil, Shell CEO Says

“Shell plans to greenlight more than 35 new oil and gas projects by 2025, according to an investor presentation from June” writes Min Read for reuters.com. Many oil and gas projects such as gas-processing plants, deepwater platforms or chemical plants take billions of dollars to develop and operate for decades.Shell, like many rivals, has become more selective in its investments as the outlook for oil prices and demand remains unclear. Source: reuters.com

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News Oil 

Fox News can help you balance your portfolio, says T. Rowe Price investment manager

“While the media group has some exposure to the economy, it would probably weather any storm, he says. (Note: Fox Corp. and MarketWatch parent News Corp” writes Markets Reporter for marketwatch.com. Investors are juggling lots of worries — trade tussles, recession threats, both for the economy and earnings, as well a looming U.S. presidential election.Results rolled out from Goldman and others Tuesday, as earnings season arrives just in time to distract us from the trade-talk merry-go-round. Source: marketwatch.com

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News Oil 

California governor signs bill to limit gas, oil development

“In addition, Newsom signed a law that renames the California agency that regulates the oil and gas industry” writes Associated Press for marketwatch.com. The measure bars any California leasing authority from allowing pipelines or other oil and gas infrastructure to be built on state property.Gavin Newsom on Saturday signed a law intended to counter Trump administration plans to increase oil and gas production on protected public land. Source: marketwatch.com

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News Oil Reviews 

Oil Daily Review October 15, 2019

Oil Daily Review for October 15, 2019 Enhanced Recovery Maverick: Meet West Virginia Oilman Taking Resource Maximization To New Heights Fourth generation oil and gas man Rusty Hutson, boss of London-listed Diversified Gas And Oil, tells Forbes he goes for long life, low decline U.S. natural gas and oil wells that big industry players don’t seem interested in, improving asset efficiencies and yield all around.   USD/CAD stretches higher to 1.3230 area as crude oil continue to slide Despite the subdued trading action on Monday amid the Columbus Day holiday…

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