Oil Sands

Gobble Gobble – Dollar in Trouble

Thursday November 23: Five things the markets are talking about While investors believe the Fed will raise rates in December, many are trying to gauge how aggressively the central bank will tighten monetary policy next-year. Yesterday’s FOMC minutes showed that most Fed policy makers saw a near- ...

PentaNova Energy and YPF Sign Final Agreement to Jointly Develop One of Argentina’s Largest Heavy Oil Fields

Field Already Producing Approximately 1,300 bbls/day VANCOUVER, Nov. 23, 2017 /CNW/ – PentaNova Energy Corp. (the “Company“) (TSXV: PNO), today signed the final agreement with Argentina’s National Oil Producer YPF (“YPF”) to farm in on 11% of the Llancanelo heavy oil field as previously ...

TransCanada Wishes It Was 24 Hours From Tulsa, Not South Dakota

TransCanada’s Keystone pipeline problems have squeezed supplies and upset South Dakota, sending West Texas Intermediate (WTI) gushing higher ahead of the Thanksgiving holiday. Crude oil traders enjoyed a frisky session overnight in what will effectively be the end of the week for the U.S. as it ...

Ringgit continues to press higher

By Bernama  KUALA LUMPUR: The ringgit opened higher against the US dollar today with the surging bond and equity inflows acting as the primary catalysts which accelerated the demand for the local note, a dealer said. At 9 am, the local unit was traded 130 basis points higher at 4.0970/1000 agains ...

In Yellen we trust

In Yellen we trust  The market spent the better part of Wednesday paring back USD exposure ahead of the FOMC minutes after Dr Yellen soft pedalled the reflation rhetoric all but signalling to the markets that absentee US inflation remains a substantial concern amongst Fed members. This year the Fe ...

US Crude Inventories Fall; Big Draw At Cushing Hub

U.S. crude oil stockpiles fell last week, with most of the decline coming out of the Cushing, Okla., storage hub, while gasoline and distillate inventories rose slightly, the Energy Information Administration (EIA) said Nov. 22. Crude inventories fell 1.9 million barrels (bbl) in the week to Nov. 17 ...

South Dakota Regulators Say They Could Revoke Keystone Permit After Spill

South Dakota regulators said on Nov. 21 they could revoke TransCanada Corp.’s permit to operate the Keystone crude oil pipeline in the state if an initial probe into last week’s spill finds the company violated its license. Last week the Keystone system linking Alberta’s oil sands with U.S. re ...

Shareholders Urge TransCanada To Back Keystone XL

TransCanada Corp. should push ahead with an $8 billion Keystone XL pipeline expansion after the state of Nebraska on Nov. 20 approved a route that would raise the cost of the controversial project, some shareholders said. The approval quashed the last regulatory hurdle for the nearly decade-old proj ...

US Crude Extends Rally To $58, First Time Since 2015

Oil extended gains on Nov. 22, with U.S. crude hitting $58 a barrel (bbl) for the first time since July 2015 as a major pipeline cut Canadian crude flows to the United States, where inventories are expected to have fallen further. The Keystone XL pipeline will cut deliveries by 85% or more through t ...

U.K Budget Next, FOMC Minutes Later

Wednesday November 22: Five things the markets are talking about The dollar is a tad weaker across the board after current Fed Chair Janet Yellen warned against rapid rate hikes, while the EUR (€1.1753) gained amid possible new moves to end Germany’s political impasse. For Germany, options inc ...