Sentences with phrase «us oil benchmark»

Canada's energy producers are hurting as the North American oil benchmark dropped to a fresh six - year low Monday, closing at US$ 38.24 a barrel.

To that end, reports indicate that China is set to introduce an oil benchmark priced in yuan in the coming months.

Statistics Canada reported in The Daily in November that, «gasoline prices have increased at a slightly faster pace in the central and eastern provinces than in the west, resulting in a spread between some provincial gasoline indices... associated with the dual crude oil market in Canada and the recent price differential between crude oil benchmarks.»

A hairline crack on a single pipeline has exposed the vulnerability of Dated Brent, the world's most widely used oil benchmark price

The weights of individual oil benchmarks are inferred over history from Statistics Canada's total crude oil production values using the same methodology described above.

Overall, crude ended the week down about 4 %, with the U.S. oil benchmark price WTI settling just above $ 45 per barrel on renewed supply worries due to surging U.S. production.

Western Canada Select, the Canadian heavy oil benchmark's discount against the U.S. crude widened to US$ 17.40 per barrel, its highest level since the start of the month.

The latest rise in oil prices took gains in the Brent crude oil benchmark to 40 % since June.

China's new oil benchmark had a hugely successful debut.

Russia is off the petro - dollar and quite married to China now and the Silk Road Dedollarized Zone is now underway as is the the soon to be launched Yuan Oil Benchmark fully exchangeable for physical gold.

Next year, Brent crude, the international price gauge, will average $ 58 a barrel, and West Texas Intermediate, the U.S. oil benchmark, will average $ 54 a barrel, according to 13 banks polled by The Wall Street Journal.

Oil and gas equities have been underperforming crude oil prices since the middle of 2017, but the outlook for energy stocks deteriorated further in the past two weeks, as major oil benchmarks have declined more than 10 per cent.

Some financial experts on Friday faulted the increase in the oil benchmark of the 2018 appropriation bill from 45 dollars to 51 dollars by the Senate.

He said the 2015 budget was pegged at $ 53 oil benchmark, but that the price had since plummeted further; hence the need to borrow money to finance the budget and service the nation's debts.

Global oil benchmark, Brent crude, which was trading around $ 41 per barrel when the petrol price was increased, stood at $ 55.64 per barrel as of 5.15 pm on Friday.

The Senate equally adopted the oil benchmark of $ 38; Crude production of 2.2000 m barrel per day and the exchange rate of N197 to $ 1 for the implementation of the budget.

On oil benchmark, the senate spokesman said the red chamber would note the advice by Christine Lagarde, Managing Director of International Monetary Fund (IMF) when considering the 2016 Appropriation Bill.

Some financial experts on Friday faulted the increase in the oil benchmark of the 2018 appropriation bill from 45 dollars to 51 dollars by...

«We know what is going on in the global economy: this budget is predicated on an oil benchmark of $ 38 per barrel and I can now say that with oil being $ 28 today, this budget is dead on arrival.

Earlier, the presidency had placed oil benchmark price at $ 40 per barrel, while oil price has fallen to $ 30 dollars.

Ameh said that the action of the lawmakers was in line with the reality on ground, adding that the assembly had explained reasons for the increase, which related to oil benchmark and exchange rates.

With the price of key oil benchmark Brent crude still hovering at around six - year lows of just under $ 50 per barrel, local law firms are seeing a reduction in work as projects are put on hold or suspended, with many saying they felt the deepest effects of the drop in oil prices during the summer.

Not exact matches

Our energy sector has been hurt partly by low natural gas prices and the discount placed on Canadian oil compared to world benchmarks, but gas and oil prices have generally been flat or on the rise.

NEW YORK, April 23 - Global benchmark Brent crude turned positive on Monday, after dropping earlier after Iran's oil minister said OPEC would not extend its production cap pact if high crude oil prices continued.

(SAGD stands for Steam - Assisted Gravity Drainage; WTI for Western Texas Intermediate, a crude oil price benchmark.)

The energy market could have a new benchmark oil price when Dubai launches its Middle East sour crude futures contract as an alternative to New York's NYMEX light crude oil futures and London's IPE Brent crude oil.

The Bank of Canada said nothing in public about the possible merits of deficit spending as it twice cut its benchmark interest rate last year to offset the collapse of oil prices.

In the oil markets, prices dropped back from $ 90 amid some profit - taking — benchmark oil for October delivery was down $ 1.03 to $ 89.18 per barrel in electronic trading on the New York Mercantile Exchange.

And then oil prices crashed, forcing Poloz to drop his already low benchmark interest rate another half point in 2015 to avoid another deep recession.

The price of a barrel of oil, using the WTI benchmark, rose from $ 29.70 to $ 76.32 from mid-2000 to mid-2010, an increase of 157 % in only 10 years.

West Texas Intermediate crude oil, the US benchmark, has gained 11 % this year as Russia along with the Organization of Petroleum Exporting Countries continue to cut their production.

The plan is to launch an oil futures contract on the Shanghai International Energy Exchange (INE), but there are obstacles in convincing large oil producers and consumers in using the yuan and investing in the Shanghai benchmark.

The benchmark West Texas Intermediate (WTI) crude oil contract increased trading volume by 10 percent last month.

Oil prices slipped away from 2018 highs on Thursday, with global benchmark Brent trading at $ 71.15 in early afternoon deals, down 0.8 percent, and WTI trading at $ 66.38, around 0.6 percent lower.

On Friday, international benchmark Brent crude oil was trading within $ 2 of its 2017 high of $ 58.37.

U.S. crude futures dipped below $ 28.50, while the international benchmark Brent fell as far as $ 27.79 a barrel after reports that Iran had offered sharp discounts to customers in Europe and Asia to find buyers for millions of barrels of oil in storage that it is now free to sell, after the lifting of most international sanctions on it at the weekend.

Brent crude, the international benchmark for oil prices, rose to $ 70.37 on Monday, while U.S. West Texas Intermediate crude reached $ 64.89 on Tuesday, both hitting more than three - year highs.

The price of a barrel of West Texas Intermediate (WTI), a benchmark for so - called light sweet crude oil, tumbled from its June high of $ 108 to a low in January of $ 44.

By early afternoon in Europe, benchmark oil for November delivery was down 21 cents at $ 91.91 a barrel in electronic trading on the New York Mercantile Exchange.

He said regulatory confusion and delays in Canada have prevented the timely completion of pipeline projects such as the Trans Mountain expansion, leading to difficulty in getting crude oil to markets and the current steeper - than - usual discounts being paid for Canadian oilsands crude compared with benchmark New York - traded oil.

While we haven't yet got to the point where Canadian oil production is literally stranded — shut down for lack of a place to store, let alone ship it — our product is selling for far less than the North American and world benchmark prices that continue to make filling up your car an expensive proposition.

At the last check Friday, U.S. West Texas Intermediate crude oil prices were at $ 67.73 a barrel, while international benchmark Brent crude sat at $ 73.15.

Benchmark oil for October delivery was down $ 1.28 to $ 107.52 per barrel in electronic trading on the New York Mercantile Exchange.

Benchmark 10 - year Treasury prices dipped on Wednesday as a recovery in oil prices helped stocks move higher.

The benchmark price of U.S. crude oil last week hit US$ 68.64 per barrel, the highest since December 2014.

The Shanghai oil futures contract is similarly designed to wrest some control over pricing from the main benchmarks in New York and London — West Texas Intermediate (WTI) and Brent — and to promote the use of the yuan, also known as the renminbi.

Moving viscous Canadian oil in tank cars used to be «more of a temporary fix» to transportation bottlenecks that earlier this year pushed prices for Western Canada Select to US$ 40 below the West Texas intermediate benchmark, he said.

Priced in yuan and traded on the Shanghai International Energy Exchange, it's the first such Asian benchmark for oil deals.

Prices of WTI crude oil, the benchmark grade for North America, have averaged $ 97.40 a barrel over the last year, 15 % higher than the five year average.

With Shell's output up 2 percent at 3.8 million barrels of oil equivalent per day (boe / d) and Total's production rising 5 percent to 2.7 million boe / d in the quarter, both were well positioned to capture the price upswing in benchmark oil prices.