Oil prices gained as much as 1 percent with analysts offering further support; expecting a decline of 1 million barrels of U.S. oil supplies from 363.2 million last week. Oil inventories have not fallen nationwide for two consecutive weeks since January.
Articles Tagged "Crude market news"
The oil spill liability could extend well beyond British Petroleum as Transocean Ltd., Halliburton Co. and Cameron International Corp. all had some exposure to this series of current events.
Xtreme Oil and Gas, Inc. (PINKSHEETS: XTOG) reported the Company has filed the Form 10 with the Securities and Exchange Commission (SEC).
Magnum Hunter Resources Corporation (NYSE Amex: MHR) (NYSE Amex: MHR-PC) reported that the Company has closed on the previously announced acquisition of privately-held Triad Energy Corporation and affiliates, an Appalachian Basin focused energy company.
The Financial Times reported on Tuesday that Nigeria plans to sell oilfield assets this year containing as much as 2 billion barrels of reserves either relinquished by Western firms or unsold in three previous bidding rounds.
On Wednesday, it was reported that the daily output at Iran's Azadegan oil field has reached 40,000 barrels per day (bpd) and will soon hit 50,000 bpd.
On Friday, U.S. crude futures ended down, raking up the biggest monthly percentage loss since December 2008.