Prices

Oil

Massive oil selloff continues

Source: 
Bloomberg

There’s been no letup in the plunge in oil prices, which slid further into bear market territory early Friday as demand growth slows and output continues to expand. West Texas Intermediate crude was down 1.3 percent to $84.62 a barrel in electronic trading on the Nymex, while in London November Brent tumbled 2.2 percent, or $1.94 a barrel, to $88.11, near a four-year low, Bloomberg reports.

Oil

Shale drillers could feel pinch of lower oil prices

Source: 
The Wall Street Journal

Operators in areas where it’s more expensive, like the fringes of the Bakken shale, could cut back production as falling oil prices make it unprofitable to drill, experts have told The Wall Street Journal.

Public still divided on possible oil exports: Reuters poll

A new survey shows Americans are evenly divided about lifting the ban on most crude oil exports, but opposition soars if it means higher domestic gasoline prices.

The results indicate the oil industry faces a potential public backlash if pump prices rise following the lifting of the 1970s-era ban, which it has sought to overturn to put booming shale oil output on the world market.

Oil

As market sinks, dragged by energy sector, investors brace for turbulence

NEW YORK (AP) — The stock market had its worst day of the year Thursday, just 24 hours after recording its best.

The Dow Jones industrial average plunged 334 points as falling energy stocks and worries about the global economy sent investors fleeing out of the market. The blue-chip index rose 275 points the day before.

Oil

WTI joins Brent in bear market as oil slides further

Source: 
Bloomberg

A global economic slowdown alongside growing oil supply has triggered the recent plunge in prices, an analyst told Bloomberg Thursday. West Texas Intermediate crude for November delivery dove 1.8 percent, or $1.54, to settle at $85.77 a barrel on the Nymex, while in London Brent dropped $1.33 to $90.05.

Oil

Oil lower on weak German data

Source: 
Bloomberg

A cut in the growth outlook for the German economy, which would signal lower energy demand, pressured oil prices early Thursday. West Texas Intermediate crude for November delivery slipped 4 cents to $87.27 a barrel in electronic trading on the Nymex, while in London Brent crude lost 30 cents to $91.08, Bloomberg reports.

Oil

Growing supply forces further oil price retreat

Source: 
Bloomberg

Increasing crude supplies from the U.S., OPEC and Russia put further pressure on oil prices Wednesday. West Texas Intermediate crude for November delivery dropped 1.7 percent, sliding $1.54 to settle at $87.31 a barrel on the Nymex, while in London Brent crude fell into a bear market, losing 73 cents to $91.38, Bloomberg reports.

Oil

Oil drops on slash in global growth predictions

Source: 
Bloomberg

A downgrade in the International Monetary Fund growth forecast sent oil sliding again early Wednesday. West Texas Intermediate crude for November delivery dropped $1.46 to $87.39 a barrel in electronic trading on the Nymex, while in London Brent crude was 82 cents lower to $91.29, Bloomberg reports.

Oil

Anticipated supply increase drags oil prices

Source: 
Bloomberg

The expectation that the Energy Information Administration will announce a jump in crude stockpiles in its weekly report pushed U.S. benchmark crude to a 17-month low Tuesday. West Texas Intermediate crude for November delivery dropped 1.7 percent, or $1.49, to settle at $88.85 a barrel on the Nymex, while in London Brent crude lost 68 cents to $92.11, Bloomberg reports.

Oil

Oil drops on weak German data, supply build expectations

Source: 
Bloomberg

A bigger-than-expected drop in German industrial production coupled with predictions of a growth in U.S. crude inventories combined to send oil prices dropping again early Tuesday. West Texas Intermediate crude for November delivery was down 41 cents to $89.93 a barrel in electronic trading on the Nymex, while in London Brent lost 78 cents to $92.01, Bloomberg reports.

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