Oil

Oil

Oil down again as traders wait on Yellen

Source: 
Bloomberg

Oil prices were slipping Friday morning ahead of remarks by Federal Reserve chair Janet Yellen which were being watched for signals about any potential interest rate increase. West Texas Intermediate crude for October delivery was 39 cents lower to $93.57 a barrel in electronic trading on the Nymex, while in London Brent crude dropped 29 cents to $102.34, Bloomberg reports.

Oil

Enbridge says no permits needed for oil sands pipeline plan

Source: 
Reuters

Canadian pipeline company Enbridge Inc. says its current plan to move oil sands crude into the U.S. by connecting output from its Alberta Clipper line to its existing Line 3 needs no further permits, and construction should start within weeks, Reuters reports.

Oil

Houston energy employment jumps

Source: 
Houston Business Journal

It’s the biggest hiring surge in Houston since the shale boom began: The area has added 5,000 energy sector jobs in June and July, according to data from the U.S. Labor Department, the Houston Business Journal reports.

Oil

Cushing-to-Memphis pipeline planned by Plains All American

Source: 
FuelFix

Plains All American Pipeline LP says it plans to spend around $900 million to construct a 440-mile pipeline from its terminal in Cushing to a Valero Energy Corp. refinery slated to be completed in Memphis in 2016, FuelFix reports.

Oil

Oil higher on stronger US economic stats

Source: 
Bloomberg

Stronger U.S. economic data Thursday – more home sales, fewer jobless claims and a higher manufacturing index – pointed to increasing demand, which boosted oil prices. West Texas Intermediate crude gained 51 cents to settle at $93.96 a barrel on the New York Mercantile Exchange, while in London Brent crude ended the trading session 35 cents higher to $102.63, Bloomberg reports.

Oil

Canada’s Keystone ad campaign didn’t deliver message

Source: 
CBC

A multimillion dollar campaign to promote the Keystone XL pipeline, which was funded by the Canadian taxpayer, had little impact on Americans who saw the ads, according to a government-mandated survey, CBC reports.

Oil

6,500 tickets sold for Keystone opposition concert

NELIGH, Neb. (AP) — Organizers say nearly all the $50 tickets for a Willie Nelson and Neil Young concert organized by opponents of the proposed Keystone XL pipeline have been sold.

The group Bold Nebraska said in a statement Thursday more than 6,500 of the 7,000 tickets for the Sept. 27 concert had been sold since Wednesday.

Oil

Small Albany oil spill contained

Source: 
Times Union

Oil sprayed from a faulty gasket in a pipeline at a Global Partners tank facility in the Port of Albany Wednesday afternoon, but crews shut valves quickly, only about 100 gallons spilled, no one was injured, and authorities said cleanup was underway, the Times Union reports.

Ecologists team up to buy Texas bayside ranch

HOUSTON (AP) — A sprawling private ranch in southeast Texas will be converted into a state park with the assistance of a fund created in the wake of the 2010 Deepwater Horizon oil spill, the Texas Parks and Wildlife Foundation announced Thursday.

The $37.7 million purchase of the Powderhorn Ranch, 75 miles northeast of Corpus Christi, is the highest price ever paid for a Texas conservation project and the biggest land acquisition so far using BP spill restoration dollars.

Oil

Plentiful supply, lower demand pressure oil prices

Source: 
Reuters

Oil prices have resumed slipping on strong supplies and data showing slowing Chinese factory output in August, a warning of lower demand. U.S. benchmark crude stood around 70 cents down at $92.75 a barrel in electronic trading on the Nymex, while in London Brent crude dropped 90 cents to $101.38, Reuters reports.

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