Brent Should Ultimately Push Higher Amid Swings
As geopolitics is liable to make oil prices volatile, Brent could push $70s/barrel as 2019 progresses with supply likely to trail demand despite still-robust U.S. output, says Daniel Hynes, senior commodity strategist at ANZ Bank.
IEA Cuts Oil Demand Forecast as Supply Tightens
Global oil supply dropped in April as falling production from sanction-hit Iran and dwindling supply in non-OPEC nations buoyed crude prices to a five-month high.
U.S. Oil Stockpiles Expected to Fall
Government data are expected to show that U.S. crude-oil inventories declined by 1.4 million barrels in the latest week, while gasoline stockpiles are seen falling by 600,000 barrels, according to a survey of analysts.
Energy & Utilities Roundup: Market Talk
The latest Market Talks covering Energy and Utilities
Attacks to Raise Security, Insurance Costs for Persian Gulf Oil Shipments
Recent attacks on Saudi Arabian oil tankers and pipelines are set to increase the cost of insuring and securing crude shipments in the Persian Gulf region, added expenses that will likely lead to higher oil prices, industry executives say.
RWE On Track After Strong 1Q
RWE said its adjusted net income in the first quarter rose to EUR273 million, driven by a good overall trading performance, and confirmed its 2019 forecasts.
OPEC Oil Production Falls as Iranian Supply Dwindles
In its closely watched monthly oil market report, OPEC said supply fell from Iran and Saudi Arabia in April but the drop was mostly mitigated by rising output from Nigeria and Iraq.
Saudi Arabia Oil Pipeline Damaged in Drone Attack by Houthi Rebels
Saudi Arabia said it halted pumping on a major oil pipeline after it was hit by armed drones, the latest attack on its energy infrastructure after two of its oil tankers were damaged near the Strait of Hormuz over the weekend.
How Automation Is Changing the Workplace at Duke Energy
CFO Steve Young says software is reducing the number of labor hours needed. But, he says, the remaining work is more rewarding.