Oil

Tallgrass, Silver Creek Expand Powder River Basin JV

Tallgrass Energy LP (NYSE: TGE) said Oct. 15 it had expanded its joint venture (JV) with private-equity-backed Silver Creek Midstream LLC in the growing Powder River Basin. Tallgrass and Silver Creek formed the JV in February 2018 to develop the Iron Horse pipeline to transport crude oil from the Po ...

Offshore Drillers Eye Recovery By 2020

Battered oil and gas drilling companies are finally seeing piecemeal signs that the prices they charge for offshore rigs are bottoming out with Brent crude selling for more than $80 per barrel and some are forecasting a full turn in the market by 2020. At the depths of a global slide that took oil b ...

USD/CAD – Canadian dollar higher on stronger business optimism

The Canadian dollar has posted gains in the Tuesday session. Currently, USD/CAD is trading at 1.2950, down 0.31% on the day. On the release front, Canadian Foreign Securities was dismal, with a gain of just C$2.82 billion. This was much smaller than the estimate of C$10.05 billion. In the U.S, ther ...

EUR/USD – Euro shrugs off dismal German ZEW Economic Sentiment

EUR/USD is steady in the Tuesday session, after posting slight gains to start the week. Currently, the pair is trading at 1.1579, unchanged on the day. On the release front, German ZEW Economic Sentiment plunged to a level of -24.7, well below the estimate of -12.3 points. Eurozone ZEW Economic Se ...

Markets stable for now but risks pile up

Saudi in the spotlight as lies start to unravel Investors may not be feeling particularly comfortable yet but we are seeing some welcome stability in the markets on Tuesday, with Europe posting small gains following a mixed session in Asia overnight. US futures are also pointing a little higher whi ...

Mexico's Lopez Obrador Pushes Big Oil To Hurry, But Offers Little

At his first meeting with foreign oil majors, Mexico's leftist president-elect pushed the companies to prove themselves by quickly pumping oil from recent finds, sources said, but gave no sign of offering up new fields to reverse dwindling output. ...

OPEC: India Oil Demand To Rise By 5.8 MMbbl/d By 2040

India's oil demand is expected to rise by 5.8 million barrels per day (MMbbl/d) by 2040, accounting for about 40% of the overall increase in global demand during the period, OPEC's secretary general said on Oct. 16. "India is projected to see the largest additional oil demand (3.7% per annum) and th ...

Inpex To Load First Cargo From Ichthys LNG This Week

Inpex Corp. is this week set to load the first liquefied natural gas (LNG) cargo from its long-delayed Ichthys project in northwestern Australia, sources familiar with the matter said. The shipment would be an important milestone for Inpex, the operator of Japan's biggest overseas investment and the ...

The buck cannot find a bid

Tuesday October 16: Five things the markets are talking about The ‘big’ dollar came under pressure yesterday and is finding it difficult to gain much traction this morning as investors taking profit on U.S assets outweighs concerns about Italy, Brexit and a Sino-U.S trade war. Furthermore, twi ...

Analysts: Expanding Ethanol Sales Would Have Limited US Market Impact

The Trump administration's plan to allow year-round sales of higher-grade corn ethanol would have limited impact on the depressed U.S. ethanol market, with record supplies and prices for the fuel hovering near the lowest in a decade, analysts said. President Donald Trump announced the decision last ...