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Tectonic Shift in the US Domestic Crude Oil Grades Market
Friday, May 22, 2020 - 12:52pm | 2821Read More...Executive summary The US domestic crude oil grades market has seen a tectonic shift in the first quarter of 2020 in response to the global demand and supply shocks that flowed from the COVID-19 pandemic and the recent OPEC+ meetings. Consequently, US exports have declined in the short-term, and the...
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China's Failure To Set Growth Target For 2020, Rising Geopolitical Tensions Lead To Drop In Oil Prices
Friday, May 22, 2020 - 5:13am | 292Read More...Oil prices declined on Friday when China did not set an economic target for 2020 due to the COVID-19 pandemic. What Happened The failure of China to set a growth target is leading to fears that the ongoing pandemic will have a detrimental effect on demand for oil, as China is the world...
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Saudi Arabia On A Pandemic Bargain Hunt, Buys Shares in Facebook, Disney, Boeing, Others
Monday, May 18, 2020 - 1:00am | 412Read More...Saudi Arabia’s sovereign wealth fund is taking advantage of the coronavirus pandemic and buying stocks worth millions in the United States companies. What Happened The oil-rich kingdom’s $300 billion sovereign-wealth fund has picked up shares worth half a billion dollars each in...
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The Oil Crisis Can Harm US Economy, But Not Like COVID-19
Friday, May 15, 2020 - 12:42pm | 832Read More...As oil prices turned negative recently, many climate activists argued that oil is practically begging to be left in the ground. But the Trump administration has the industry's back and will certainly not let it die. And if we put the green initiative aside, the oil and gas industry in the US...
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Weekly Fuel Report: May 11, 2020
Tuesday, May 12, 2020 - 11:07am | 46Read More...Learn more at SONAR.FreightWaves.com Photo courtesy of FreightWaves.
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Saudi Aramco Reports 25% Drop In Q1 Net Income, Yet Declares $18.8B In Dividend
Tuesday, May 12, 2020 - 6:41am | 351Read More...The Saudi Arabian Oil Company, better known as Saudi Aramco, on Tuesday, reported earnings for its first quarter this year. Earnings Drop YoY Aramco said it made $16.7 billion in net income in Q1, down nearly 25% from the $22.2 billion posted in the similar quarter last year. The state-owned...
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Oil Analyst Expects US, Canada To Help Balance Market, Dampen Prices
Monday, May 11, 2020 - 1:28pm | 583Read More...The recent crash in oil demand brought prices below zero in April as storage for the commodity ran out, but this issue is expected to be a short-term one. “It is clear that the extremely fast decline in supply of 3.5-4.5m bl/day in the U.S. and Canada has helped to balance the market,”...
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Slump In Crude Oil Continues To Attract Speculative Buying, Says Strategist
Monday, May 4, 2020 - 3:23pm | 424Read More...The April slump in crude oil is continuing to attract speculative buying in May, and the outlook remains bleak with the market having a long way to go before balancing out, analysts say. The risk of storage running out is being offset by the focus on falling production and the expected pick-...
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Chevron CEO Talks Dividend, Oil Prices And Venezuela
Friday, May 1, 2020 - 2:32pm | 441Read More...One of the key takeaways from Chevron Corporation's (NYSE: CVX) earnings report is its commitment to protecting dividends as its "financial priorities have not changed," CEO Michael Wirth said on CNBC's "Squawk Box." Chevron reported quarterly earnings of $1.93 per...
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GasBuddy Analyst Talks Battered Oil Industry, Why Gasoline Prices Aren't Lower
Thursday, April 30, 2020 - 5:30pm | 802Read More...Patrick DeHann, head of petroleum analysis at GasBuddy.com, joined Benzinga’s PreMarket Prep show this week to discuss the state of the U.S. and global oil markets. A pricing war between Saudi Arabia and Russia, travel shutdowns associated with the coronavirus (COVID-19) outbreak and U.S...
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Oil Price Surge Driven Partly By Positive Coronavirus Vaccine News, Says Strategist
Wednesday, April 29, 2020 - 2:54pm | 387Read More...Oil prices rebounded Wednesday, after the market received a boost from surging stocks amid renewed hopes for a drug to fight coronavirus. The price of oil plummeted to historic lows earlier this month as the coronavirus pandemic crushed demand. On Wednesday, WTI crude oil was trading at $16 a...
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An Oil ETF For The Daring
Tuesday, April 28, 2020 - 8:10am | 575Read More...The saga of the United States Oil Fund (NYSE: USO) grows more interesting by the day and not just because the moribund exchange traded product slumped 14.79% on volume that was more than double the daily average on Monday. USO debuted about 14 years with a simple objective: provide exposure to...
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US Oil Benchmark Drops Another 13%, Completely Erases Last Week's Recovery
Tuesday, April 28, 2020 - 2:56am | 261Read More...Oil prices continued their decline on Tuesday for a second day in a row, as the outlook for supply-demand balance in the coming months remained bleak. The United States benchmark West Texas Intermediate futures for June fell about 13.8% at $11.04 at press time. Brent Oil futures for July were down...
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Here's How Much Investing $100 In The USO Oil Fund In 2010 Would Be Worth Today
Monday, April 27, 2020 - 2:30pm | 486Read More...Investors who owned stocks in the 2010s generally experienced some big gains. In fact, the SPDR S&P 500's (NYSE: SPY) total return for the decade was 250.5%. But there’s no question some popular investments did much better than others along the way. Oil’s Disastrous Decade One...
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PreMarket Prep Stock Of The Day: Nordic American Tanker
Monday, April 27, 2020 - 1:37pm | 735Read More...Benzinga's PreMarket Prep airs every morning from 8-9 a.m. ET. During that fast-paced, highly informative hour, traders and investors tune in to get the major news of the day, the catalysts behind those moves and the corresponding price action for the upcoming session. On any given...
