Oil & Gas

Bad Bets On Oil, Gas Spark Wave Of Energy-Fund Closures

Energy fund managers took heavy losses last year with wrong-way bets on the prices of oil and natural gas, leading to a wave of closures in the volatile fund sector. The number of active energy-focused funds fell to just 738 in 2018 through September from about 836 in 2016, according to the latest a ...

Schlumberger To Abandon Russia’s EDC Bid If Approvals Not Met Soon

Schlumberger NV (NYSE: SLB) said on Jan. 18 it would withdraw its application for the acquisition of a stake in Russia’s Eurasia Drilling Co. (EDC) if it is not successful in getting approvals soon. ...

Canadian Market Review 2019-01-17

The Canadian market has been soaring as of late; the upward move has been very broad, with all the sectors participating. Oil, Railways, Banks, Industrial Metals, Financials, Utilities, Pipelines - it's been a great move and it looks set to continue. Enbridge is breaking out to new 52-week highs th ...

Inflation Moves Higher in December

The Conference Board of Canada’s Principal Economist Alicia Macdonald offers the following insights on the Consumer Price Index data for December: Quote “Total inflation pushed higher in December while core inflation held steady at just below the Bank of Canada’s 2.0 per cent target. With inf ...

Oil Under Pressure Despite OPEC Production Cuts

U.S. oil production growth combined with a slowing global economy will put oil prices under downward pressure in 2019, challenging OPEC’s resolve to support the market with output cuts, the International Energy Agency said on Friday. The IEA, which coordinates the energy policies of industrial na ...

Oil approaches upper boundary of recent trading range

Oil continues to trade in a range between $50.38 and $53.31.  Overnight the IEA monthly report reiterated global oil demand should be stronger in 2019, citing reasons that lower fuel prices will help the slower economic activity.  The supply side issues however will continue to keep oil rallies c ...

Schlumberger Revenue Beats, Sees International Growth In 2019

Schlumberger NV on Jan. 18 reported quarterly revenue that topped estimates and forecast single-digit growth in international markets this year even as crude prices have tumbled roughly 30% since October. With the drop in oil prices many producers were evaluating spending budgets for 2019, stoking c ...

IEA: US Crude Gains, Slowing Global Economy Challenge Oil Market In 2019

U.S. oil production growth combined with a slowing global economy will put oil prices under downward pressure in 2019, challenging OPEC’s resolve to support the market with output cuts, the International Energy Agency said on Jan. 18. ...

USD/CAD – Canada hits highest inflation rate in seven years

Data from Stats Canada showed that inflation unexpectedly accelerated in the last month of 2018. Sharper costs for phone services and food were offset by lower gas prices, which pushed up the average inflation rate for all of 2018 to the highest level in seven-years. Canada’s December CPI print ...

Loonie firms up after inflation comes in better than expected; M/M: -0.1% v -0.4% eyed

The Consumer Price Index (CPI) rose 2.0% on a year-over-year basis in December, following a 1.7% increase in November. Lower energy prices were offset by higher prices for various services, including air transportation, telephone services and travel tours. Excluding gasoline, the CPI rose 2.5% ...