Petroleum
Hurricane Opal's unexpected shift in course from the Louisiana-Texas Gulf Coast to Florida led to significant fluctuations in the futures prices of natural gas, refined petroleum, and crude petroleum on October 3, 1995. As the storm's trajectory changed, fears of natural gas supply shortages caused short-term
Petroleum
Mildly bullish inventory data had a significant impact on the energy market, nudging crude and product prices toward an uptrend on the New York Mercantile Exchange (Nymex). The American Petroleum Institute (API) report of a small draw on crude stocks lent support to the November crude contract, which retraced Tuesday&
Petroleum
The New York Mercantile Exchange's (Nymex) crude oil contract for Nov 1995 deliveries experienced a significant drop in price, falling by 14 cents per barrel to $17.33/bbl on Sep 25, 1995. This decline was driven by a lack of news from the International Energy Conference in
Petroleum
The New York Mercantile Exchange (NYMEX) witnessed a sharp selloff in gasoline futures on September 19, 1995, amidst reports of 1 million barrels of gasoline arriving in New York. This led to a collapse in gasoline prices, with the October 1995 gasoline contract plummeting to a 3-week low of 54.
Petroleum
Crude prices have been exhibiting a bullish tone recently, with the October crude contract on the New York Mercantile Exchange (Nymex) settling up 2 cents at $18.95/bbl. Despite expectations of a build in crude stocks, solid support at $18.80-$18.90/bbl suggests that crude is poised
Petroleum
Anderson Exploration Ltd.'s swift acquisition of Home Oil Co. sent shockwaves through the Canadian oil industry, with 156 employees being let go just four days after the deal was finalized. The merged entity, now more than double in size, is fielding calls from potential buyers of Home'
Petroleum
In a bold move, Kerr-McGee Corp. has decided to restructure its upstream operations by selling a significant chunk of upstream assets. The company will use the proceeds from these asset sales to buy back stock, scale back debt, and increase its dividend. Analysts welcomed the aggressive plan, with Dean Witter
Petroleum
A potential deal between Chevron Corp. and Petroleos de Venezuela S.A. (PDVSA) may be finalized next week, with the US oil major set to take responsibility for maintaining production of the Boscan heavy-crude field in Venezuela. The three-part agreement includes a crude supply arrangement, an asphalt marketing plan, and
Petroleum
Core Laboratories, a Netherlands-based company, has announced its plans for an initial public offering (IPO) of 2.5 million common shares, with the possibility of an additional 375,000 shares through an over-allotment option. The net proceeds from the offering will be used to repay outstanding indebtedness and repurchase outstanding
Petroleum
Washington -- Inventory data showing gasoline stocks had dropped to a 24-year low has triggered a surge in gasoline prices. The September gasoline contract on the New York Mercantile Exchange (Nymex) settled up 0.94 cents at 56.45 cents/gallon, with prices reaching as high as 1.24 cents.
Petroleum
Crude prices on the New York Mercantile Exchange (Nymex) tested $18/bbl, but failed to sustain the momentum, drifting off daily highs due to lack of follow-through buying. The October crude contract settled down 4 cents at $17.82/bbl, after reaching a high of $18.09. The initial uptick
Petroleum
Traders experienced a slight correction in crude prices on the New York Mercantile Exchange (Nymex) on Thursday, following a six-day rally that saw prices rise as high as $18.21/bbl. Despite the setback, oil prices remain in an upward trend, with many analysts expecting continued growth. However, the correction
