United States shale oil producer CrownRock has agreed to be purchased by Occidental Petroleum in a stock and cash deal valued at $12 billion dollars. CrownRock is a major privately held energy producer that operates in the Permian Basin. This deal expands Occidental Petroleum’s presence in the largest shale oilfield in the United States. The […]
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In the ever-volatile world of energy markets, a recent development has sent shockwaves throughout the industry. Cushing oil stocks, a critical indicator of oil market stability, have plummeted to near-historic lows. This sudden turn of events has caught the attention of both investors and analysts alike, leaving many wondering about the implications for the global […]
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Crude oil is having an uncharacteristic mid-summer surge, providing commodity markets volatility, and driving refined products pricing higher. The outlook has been bullish for crude and refined prices for late 2024, despite global recessionary fears, and this may only be the beginning of the rise of crude oil. Numerous factors are behind the sudden rise […]
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The oil industry has two main, widely-used fuel indices, Argus Media (“Argus”) and S&P Global Platts (“Platts”). Each of these two companies report daily price assessments for oil products, as well as other commodities, worldwide. These assessments are compiled, throughout the day, of the numerous bulk trades being completed by commodity traders and give refiners, […]
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WTI = purple, Brent = Yellow Looking at global happenings Late last week, crude oil prices hit a 15-month low as news spread of the Silicon Valley Bank collapse, instilling fears throughout Wall Street of more banking troubles to come in the near future. At the low on Friday, Brent and WTI crude were off […]
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For the fourth straight week, gasoline prices have risen according to data from AAA on Monday. Gasoline prices have risen 32.7 cents over the last month as crude prices also have increased. Over the past week alone, gasoline is up 11.8 cents which is 9.4 cents higher than they were a year ago before the […]
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