BOE Report - Canada's Source for Oil & Gas News
WEB3 days ago · BOE Report - Canada's Source for Oil & Gas News. September 30, 2024 6:36 AM Hedge funds sold U.S. energy company stocks at the fastest pace in five years and the sector was the most sold on Goldman Sachs’ prime brokerage trading desk last week, the bank said in a note sent to clients on Friday and seen by Reuters on Monday. A short bet ...
Heavy oil discount widens | BOE Report
WEB2 days ago · Heavy oil discount widens. * WCS for November delivery in Hardisty, Alberta, settled at $12.85 a barrel below WTI, according to brokerage CalRock, having settled at $12.70 a barrel under the benchmark on Tuesday. * Suncor Energy said it will start two weeks of planned maintenance at its 137,000-barrel-per-day Montreal, Quebec, refinery …
Heavy oil discount tightens as new trade cycle begins
WEB3 days ago · The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) narrowed on Tuesday, the first day of the new monthly trade cycle: * WCS for November delivery in Hardisty, Alberta, settled at $12.70 a barrel below WTI, according to brokerage CalRock, having settled at $13.05 a …
Brent oil traders use little known rule to reroute US cargoes
WEB3 days ago · October 1, 2024 5:04 AM Reuters 0 Comments. Big energy merchants trading oil cargoes that form the basis of the Brent benchmark have used an obscure clause to reroute U.S. shipments from Europe, in a practice that raises doubts over whether reforms to the crude price marker have succeeded. Brent, the most significant benchmark across …
US crude oil inventories rise as refining activity dips, EIA ...
WEB2 days ago · Crude inventories rose by 3.9 million barrels to 417 million barrels in the week ended Sept. 27, the EIA said. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 840,000 barrels. “As we descend into seasonal refinery maintenance, a chunky drop in refining activity has ushered in a build to crude inventories,” said Matt Smith ...
Oil prices leap on escalating tensions in the Middle East
WEB3 days ago · CALGARY – Global oil prices leaped Tuesday as escalating tensions in the Middle East sparked worries of energy market disruptions. The price of a barrel of U.S. benchmark West Texas Intermediate rose close to five per cent to top US$71 as of midday as Israel’s military said Iran has fired missiles into the country.
US buys 6 million barrels of oil for Strategic Petroleum ...
WEB4 days ago · The U.S. has bought 6 million barrels of oil for the Strategic Petroleum Reserve for delivery through May of 2025, the Department of Energy said on Monday. The purchases are part of an effort to replenish after President Joe Biden ordered the largest ever sale from the reserve in 2022 of 180 million barrels in an effort to control fuel prices ...