NEW YORK (Reuters) - Oil prices settled little changed on Tuesday after slumping to three-week lows as the U.S. dollar climbed and signs of weaker petroleum demand in China weighed the market down for a second day. Benchmark Brent crude LCOc1 settled up 7 cents a barrel at $50.80, after retreating to $50.02 during the session. U.S. light crude settled down 4 cents at $47.55, off a session low of $47.02, the lowest since July 25. Brent and U.S. crude reached two-month highs in early August but [Read more]
Oil slips on strong dollar, OPEC and China weigh
Oil prices slipped on Tuesday, extending a heavy sell-off after a surge in the dollar and weighed down by signs of weaker demand in China, the world's second-largest consumer. Benchmark Brent crude LCOc1 was down 40 cents at $50.33 a barrel by 1230 GMT. U.S. light crude CLc1 was 30 cents lower at $47.29. Chinese oil refineries operated in July at their slowest daily rates since September, official data showed. The drop was steeper than expected, raising concerns over the state of Chinese [Read more]
Oil prices fall 2.5 percent on strong dollar, weak China data
Oil prices tumbled more than 2.5 percent on Monday in volatile trade, as dollar strength and weak domestic demand data in China hammered prices that had received a short-lived boost on concerns about potential reductions in crude supply from Libya. Global benchmark Brent crude futures LCOc1 settled down $1.37 or 2.63 percent at $50.73. U.S. West Texas Intermediate crude futures CLc1 settled down $1.23, or 2.52 percent at $47.59 a barrel. "It is a strong dollar, concern about China demand, [Read more]
Gibson Energy’s biggest shareholder calls for strategic review
M&G Investment Management Ltd, the largest shareholder in Canada's Gibson Energy , on Monday urged the Calgary-based oil and gas infrastructure company to launch a strategic review process to cut costs and boost returns. London-based M&G, which owns 19.4 percent of Gibson's outstanding shares, released an open letter laying out its views of the company and the steps it could take to maximize value, including being sold. Gibson Energy, which provides storage and transportation [Read more]
Oil markets steady as strong demand is met by ample supplies
Oil prices were steady early on Monday, supported by strong demand and falling inventories, but still under pressure from high output. Brent crude futures, the international benchmark for oil prices, were at $52.08 per barrel at 0048 GMT, down 2 cents from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $48.85 a barrel, up 3 cents. ANZ bank said prices were being supported by a report from the International Energy Agency (IEA) that crude oil stockpiles were now [Read more]
Hedge funds gamble for a third time on oil rebalancing
LONDON, Aug 14 (Reuters) - "If at first you don't succeed, try, try, try again," goes the proverb used to encourage students. Hedge fund managers are becoming bullish towards crude oil and refined fuels for the third time this year and must be hoping the signs of market rebalancing are real this time after early setbacks proved costly. Hedge funds and other money managers raised their net long position in the three major futures and options contracts linked to Brent and West Texas Intermediate [Read more]
Butte Energy Inc. Announces Results of Its Annual General and Special Meeting of Shareholders and Changes to Management
For best results when printing this announcement, please click on link below:CALGARY, Alberta, Aug. 11, 2017 (GLOBE NEWSWIRE) -- Butte Energy Inc. ("Butte"or the "Company") is pleased to announce the results of its Annual General andSpecial Meeting of shareholders held on August 1, 2017 in Calgary (the"Meeting"). At the Meeting, shareholders holding 77.42% of the issued andoutstanding common shares were present or represented by proxy and suchshareholders voted 100% [Read more]
Oil prices flat as oversupply concerns linger
Oil prices were little changed in early Asian trading on Friday after retreating in the previous session, weighed by ongoing global glut concerns despite a bigger-than-expected draw in U.S. crude inventories. U.S. West Texas Intermediate (WTI) crude was up 3 cents, or 0.1 percent, at $48.62 a barrel. Brent crude, the global benchmark, was up 1 cent at $51.91 per barrel by 0044 GMT. Oil prices touched a two-and-half month high on Thursday, but retreated to close down around 1.5 percent, [Read more]
Keystone XL opponents vow long fight as Nebraska hearing concludes
Opponents of the Keystone XL pipeline vowed on Thursday to block construction of the controversial project if Nebraska regulators approve the proposed route later this year. The state's regulators wrapped up a final public hearing a day early on Thursday on TransCanada Corp's proposed Keystone XL pipeline after four days of contentious exchanges between lawyers. Nebraska's Public Service Commission will make its final decision by Nov. 23. After the hearing, two dozen landowners [Read more]
KeystoneXL opponents vow long fight as Nebraska hearing concludes
Opponents of the Keystone XL pipeline vowed on Thursday to block construction of the controversial project if Nebraska regulators approve the proposed route later this year. Nebraska regulators wrapped up a final public hearing a day early on Thursday on TransCanada Corp's proposed Keystone XL pipeline after four days of contentious exchanges between lawyers. They will make their final decision by Nov. 23. After the hearing, two dozen landowners and other pipeline opponents vowed [Read more]
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