Oil

Oil

Oil prices up slightly ahead of US stockpile data

TOKYO (AP) — Oil prices were steady Wednesday ahead of the release of figures on U.S. stockpiles of crude and refined fuels that will be a key indicator of expected demand.

Benchmark U.S. crude for August delivery was down 5 cents at $103.35 a barrel at 0805 GMT in electronic trading on the New York Mercantile Exchange. The contract fell 13 cents to close at $103.40 on Tuesday.

Oil

US energy companies seek permission for swaps to export oil

Source: 
FuelFix

American energy companies are pursuing government approval to exchange U.S. crude for foreign oil, seeking another avenue around a longstanding ban on selling U.S. oil overseas, FuelFix reports.

Oil

Lightning hits 3rd North Dakota saltwater facility

ALEXANDER, N.D. (AP) — A lightning strike sparked a fire and explosion that destroyed the third North Dakota saltwater disposal facility in recent weeks, sending thick black smoke billowing into the sky and leaving the smell of oil in the air.

Oil

Oil slips closer to $103 as supply fears recede

The price of oil slipped closer to $103 a barrel Tuesday as concerns about supply disruptions continued to fade.

Benchmark U.S. crude for August delivery fell 13 cents to close at $103.40 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.30 to close at $108.94 on the ICE Futures exchange in London.

WBM Management Inc.
Oil

EIA sees greater U.S. crude production, higher international prices

U.S. crude production next year will average 9.3 million barrels a day, the highest level since 1972, according to the short term outlook released Tuesday by the Energy Information Administration.

And it expects the role of imports will continue to shrink. The EIA said the share of consumption of crude brought in from outside the country will drop to 22 percent in 2015, the lowest level, noted Administrator Adam Sieminski, in 45 years.

Oil

Drillers press judge to hold BP liable for moratorium damages

Source: 
FuelFix

Several oil drillers and oil-field service providers urged a federal judge to hold BP liable for financial losses stemming from a three-month deep-water drilling moratorium in 2010 in the wake of the Deepwater Horizon disaster, FuelFix reports.

Oil

Industry groups make fresh appeal for Keystone XL

Source: 
FuelFix

A coalition of 44 groups representing a variety of industries in a letter urged Secretary of State John Kerry to move ahead and approve the Keystone XL pipeline despite a pending legal battle in Nebraska, FuelFix reports.

Oil

Oil slips further as supply fears recede

The price of oil slipped to near $103 a barrel Tuesday as concerns about possible supply disruptions continued to fade.

Benchmark U.S. crude for August delivery was down 12 cents to $103.41 a barrel at 0450 GMT in electronic trading on the New York Mercantile Exchange. It lost 53 cents to $103.53 on Monday.

Brent crude, a benchmark for international oils, fell 26 cents to $109.98 in London.

Oil

Chevron's California field also provides much-needed water

Source: 
The New York Times

Chevron's activity in its Kern River oil field in California has yielded an unexpected benefit for the state; it generates millions of gallons of water each day which is helping some farmers survive the state's continuing drought, The New York Times reports.

Oil

Moody's downplays Iraqi threat to oil company credit ratings

Source: 
FuelFix

Moody's Investors Service said continued sectarian violence in Iraq likely won't have a large impact on oil company credit ratings, even if production experiences significant cuts, FuelFix reports.

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