Daily Oil Market News
 
Daily Oil Prices & Futures News on the Blackstuff
Monday 01st of September 2014
8/8/2011

Crude prices drop another $3 per barrel in New York trade

Crude prices drop another $3 per barrel in New York trade

Crude oil prices were down more than $3 per barrel again Monday in afternoon trade in New York as investors reacted to the downgrade of US credit by Standard & Poor’s late Friday, when the ratings agency cut its rating on US credit from AAA to AA-plus, with a negative outlook. The downgrade exacerbated continuing […]




5/8/2011

Crude prices higher on news, US jobs data

Story link: Crude prices higher on news, US jobs data by Elaine Frei
Crude prices higher on news, US jobs data

Crude oil prices were on a roller coaster Friday, with contracts for West Texas Intermediate crude in New York wavering between gains and losses after the US Labor Department reported that the US economy added 117,000 jobs in July, more than expected, sending the unemployment rate there down to 9.1 percent from 9.2 percent in […]




4/8/2011

WTI, Brent crude drop more than $4 per barrel

WTI, Brent crude drop more than $4 per barrel

Crude oil prices were down substantially Thursday as equities markets also plunged around the world. September contracts for West Texas Intermediate crude were down $4.16 to $87.77 per barrel in afternoon trade on the New York Mercantile Exchange, while at last report Brent crude had dropped $4.31 to $108.92 per barrel. The declines came as […]




3/8/2011

Data, inventories send crude prices lower

Story link: Data, inventories send crude prices lower by Elaine Frei
Data, inventories send crude prices lower

The price of crude oil dropped Wednesday on disappointing data and news from the United States and after the US Energy Information Administration reported that crude oil, gasoline and distillates inventories all grew last week. September contracts for West Texas Intermediate crude were down $2.12 to $91.67 per barrel at nearly 1:30 p.m. on the […]




2/8/2011

GARB, ACG Consulting forms JV to build of 7 E-waste plants in U.S.

GARB, ACG Consulting forms JV to build of 7 E-waste plants in U.S.

Garb Oil & Power Corp. and ACG Consulting LLC have formed Xanthus LLC, which will act as the co-coordinating company for the joint venture managing and co-coordinating the growth and development of the 7 plants throughout the United States. The company will manage and co-ordinate the building of 7 E-Waste recycling facilities within the next […]




AEG Power Solutions acquires outstanding 25% stake in skytron energy

AEG Power Solutions acquires outstanding 25% stake in skytron energy

AEG Power Solutions has acquired the outstanding 25% stake in skytron energy after buying a majority stake last year, according to a news release. The cooperation offered photovoltaic power plant operators highly reliable technology and expertise for the integration, implementation and operation of rugged solutions for greater system availability and higher energy yields. “With respect […]




American Power wins prospecting permit for Pace Coal Project in Montana

American Power wins prospecting permit for Pace Coal Project in Montana

American Power Corp. said in a news release that it received approval for the prospecting permit for its Pace Coal Project in Judith Basin County, Montana. The prospecting permit, which was approved by the Coal and Uranium Program of the Montana Department of Environmental Quality, authorizes the company to carry out the first phase of […]




GreenHunter Water acquires Marcellus water service property

GreenHunter Water acquires Marcellus water service property

GreenHunter Energy Inc. said in a news release that its GreenHunter Water subsidiary executed a definitive agreement to acquire about 99 mineral acres and 84 surface acres in West Virginia, where it will develop a commercial water service facility. The acquisition includes an existing well that has been approved for commercial water disposal, according to […]




Crude drops on Commerce Department data on consumer spending

Crude drops on Commerce Department data on consumer spending

Crude oil prices were lower in afternoon trade in New York on a stronger dollar and as the Commerce Department released disappointing new figures on consumer spending and personal incomes, providing more evidence that the US economy could be slowing down. September contracts for West Texas Intermediate crude were down $1.13 to $93.76 per barrel […]




FirstEnergy Q2 profit down

Story link: FirstEnergy Q2 profit down by Muhammed Nadeem
FirstEnergy Q2 profit down

FirstEnergy Corp. reported second-quarter 2011 basic earnings of 65 cents per share of common stock on a non-GAAP basis, compared to basic and diluted non-GAAP earnings of 82 cents per share in the second quarter of 2010, excluding the impact of special items. FirstEnergy posted second-quarter 2011 basic and diluted earnings, on a GAAP basis, […]




1/8/2011

IEA expects increase in oil demand

Story link: IEA expects increase in oil demand by Muhammed Nadeem
IEA expects increase in oil demand

Radio New Zealand reports that the International Energy Agency Global expects an increase in demand for oil next year, driven by emerging economies. According to the IEA estimates, oil demand will grow by an average of 1.47 million barrels per day in 2012, up from the current 2011 average daily growth of 1.2 million, Radio […]




Report: FARC guerrillas releases 5 kidnapped Colombian oil workers

Report: FARC guerrillas releases 5 kidnapped Colombian oil workers

FARC guerrillas have released five kidnapped Colombian oil contractors on Sunday after military pressure to rescue the hostages, Reuters reported, citing a senior army officer. The guerrillas kidnapped the five workers on Friday night in the eastern Arauca province, according to the report. “We started an operation with three battalions in the area where the […]




Magnum Hunter Resources declares monthly preferred stock dividends

Magnum Hunter Resources declares monthly preferred stock dividends

Magnum Hunter Resources Corp. has declared a monthly cash dividend on the company’s 10.25% series C cumulative perpetual preferred stock and a monthly cash dividend on the company’s 8.0% series D cumulative preferred stock, according to the news release. The payment will be an annualized 10.25% per share, which is equivalent to about $0.2135 per […]




Nordic Energy Services signs 3-year partnership with Village of Erie

Nordic Energy Services signs 3-year partnership with Village of Erie

Illinois-based Nordic Energy Services LLC said in a news release that it signed a new three-year partnership with the Village of Erie, Illinois. Nordic Energy Services will be the electricity provider of choice for households and businesses within the community. Under the agreement, Nordic Energy Services provides the Village of Erie a fixed price on […]




U.S. Army awards $1.4M development contract to Cyclone Power Technologies, Advent Power Systems

U.S. Army awards $1.4M development contract to Cyclone Power Technologies, Advent Power Systems

Cyclone Power Technologies and Advent Power Systems Inc. have received a $1.4 million contract from the U.S. Army / TACOM (Tank Automotive Command), the companies said in a news release. Under the contract, Cyclone and Advent will develop a compact 10 kW auxiliary power unit designed to increase operating efficiencies and decrease fuel usage of […]




Vanguard, Encore closes Permian Basin acquisition

Vanguard, Encore closes Permian Basin acquisition

Vanguard Natural Resources LLC and Encore Energy Partners LP have closed the joint acquisition of oil and natural gas producing properties from an undisclosed seller for an adjusted purchase price of $81.4 million, subject to customary post-closing adjustments. The effective date of the acquisition was May 1, 2011, according to a news release. The acquired […]




Lundin Petroleum, partners file field development plan for Brynhild field

Lundin Petroleum, partners file field development plan for Brynhild field

Lundin Petroleum AB said in a news release that its Lundin Norway AS subsidiary and its partners Noreco ASA and Talisman Energy Norge AS submitted a plan for development and operation for the Brynhild field to the Norwegian Ministry of Petroleum and Energy, according to a news release. The Brynhild field is an oil field […]




Anadarko Petroleum declares quarterly dividend

Story link: Anadarko Petroleum declares quarterly dividend by Muhammed Nadeem
Anadarko Petroleum declares quarterly dividend

Anadarko Petroleum Corp. said in a news release that its board of directors declared a quarterly cash dividend of 9 cents per share on the company’s outstanding common shares. The dividend is payable Sept. 28, 2011, to stockholders of record at the close of business on Sept. 14, 2011.




Signature Group Holdings acquires leading circuit breaker distributor

Signature Group Holdings acquires leading circuit breaker distributor

Signature Group Holdings Inc. has acquired North American Breaker Co. Inc. for about $30.5 million, according to a news release. The purchase price also includes a potential earn-out payment of up to $4 million based on North American Breaker’s post closing financial performance. North American Breaker is a leading circuit breaker distributor targeting the replacement […]




Crude prices lower on US manufacturing data

Crude prices lower on US manufacturing data

Crude oil prices were lower in afternoon trade in New York Monday as bad news on US manufacturing caused concerns about demand and as investors worried that a new deal on the US debt ceiling might not have to votes to gain passage. September contracts for West Texas Intermediate crude was down 91 cents to […]