Oil & Energy

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Our TCOIL preview for this week's EIA DOE Weekly Petroleum Status Report highlights the key variables to watch out for. Crude oil markets are watching products and production after earnings with the all important import export trade.

West Texas Intermediate Crude Oil futures (WTI) Friday closed over a key previous weekly high over $55. WTI had been lagging behind Brent as shown in the BrentWTI spread widening.  After a series of break and retests where to now?

U.S. oil and natural gas rigs fell gain this week confirming the concerns Baker Hughes GE Co. $BHGE and Schlumberger $SLB had about driling activity. The news sent WTI Crude oil prices higher to close above key weekly levels.

The EIA releases it's weekly natural gas storage report each Thursday at 10.30 ET, the key data point for natural gas traders outside of weather modelling. This week another build is expected.   

Our TCOIL preview for this week's EIA DOE Weekly Petroleum Status Report highlights the key variables to watch out for. Crude oil markets are watching products and production after earnings with the all important import export trade.

ExxonMobil has expanded it's offshore acerage with a deal to acquire half of Statoil's 66% interest in the BM-S-8 block of offshore Brazil , Criterion Research reported. $XOM will pay an upfront cash payment of $800 million with contingent payments of up to $500 million.

The EIA releases it's weekly natural gas storage report each Thursday at 10.30 ET, the key data point for natural gas traders outside of weather modelling. This week another build is expected.   

Clear Russian oil strategy. Yesterday Russia increases their lead over Saudi Arabia in crude oil exports of to China today Energy Minister Alexaconder Novak said they will increase its oil output by 3.5-4.0 million tonnes in 2018 if OPEC and non-OPEC deal not extended. 

Our TCOIL preview for this week's EIA DOE Weekly Petroleum Status Report highlights the key variables to watch out for. Crude oil markets are watching for products and production after the hurricanes with the all important import export trade.

Debt laden commodities trader Noble Group Ltd  warned Monday of a third-quarter loss of up to US$1.25 billion and announced the sale of its US oil-liquids business to Vitol Group BV for US$582 million.

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