August has historically been brutal for oil and gas stocks. According to data from Schaeffer Research, the energy sector has consistently underperformed in August, with returns turning negative in 8 of the last ten years. Oilfield services companies were one of the biggest culprits, with Baker Hughes (NYSE: BKR), Schlumberger …
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The American Petroleum Institute (API) on Tuesday reported a mark in crude oil inventories of 4,401 million barrels for the week ending August 7. Analysts had forecast a modest inventory drawing of 2,875-million tons. Last week, the API reported a man-made drawing in crude oil inventories of 8.587 million barrels, …
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MELBOURNE (Reuters) – Oil prices climbed on Monday, backed by Saudi optimism over Asian demand and an Iraqi commitment to deepen cuts in supply, despite uncertainty over a deal to curb US economic recovery gains. FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian …
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MELBOURNE (Reuters) – Oil prices climbed on Monday, backed by Saudi optimism over Asian demand and an Iraqi commitment to deepen cuts in supply, despite uncertainty over a deal to curb US economic recovery gains. FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian …
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The UN chief of environment said on Wednesday that “time is running out” to avoid an environmental, economic and humanitarian catastrophe of a deteriorating oil tanker loaded with 1.1 million barrels of crude oil that is moored on the coast of Yemen. Inger Andersen told the UN Security Council that …
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