Sentences with phrase «higher crude oil prices»

May 11 (UPI)-- Malaysia's new government will need to act quickly to capitalize on any economic momentum from higher crude oil prices, an analyst said.

Higher crude oil prices have contributed to increased NGL prices and, in turn, provided incentives to drill in liquids - rich resources with significant NGL content.

The increase in gas prices due to higher crude oil prices means OPEC is canceling out the gains of US consumers from the recent US tax bill.

In contrast, the energy names managed to advance, helped by higher crude oil prices.

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.

Right now, the best evidence implies that U.S. production growth will exceed expectations, perhaps by a large amount since the lagged effects of higher crude oil price from November through January have yet to be felt.

Worldwide, high crude oil prices, increasing extreme weather events, population growth and economic development of poorer countries, crop - based biofuels, political conflict and unrest in the Middle East, and slowing crop yield growth are all factors contributing to rising food prices.

Not exact matches

The price of oil has risen to its highest since late 2014 this month, driven by concern over the potential for disruption to Iranian crude flows, but analysts say the degree of uncertainty hanging over the deal means the market is extremely sensitive to any developments.

Bets on rising crude prices are close to a near - record high,» PVM Oil Associates strategist Stephen Brennock said.

Oil prices were steady on Thursday following a larger - than - expected increase in U.S. crude inventories: U.S. crude futures were higher by 0.04 percent at $ 67.96 per barrel and Brent crude futures for July delivery were flat at $ 73.36.

Oil prices have risen this month to their highest since late 2014, driven by concern over potential disruptions to Iranian crude flows.

While summer is meant to be the season where oil prices hit their annual highs, the price of crude oil has plunged recently.

The depressed prices mean lower prices for refiners and less pump pain for North American drivers, but it's hardly good news for Canada's oil industry, which spent billions on oilsands projects after world crude prices had risen high enough to justify the investment.

Oil supply concerns are greater for Europe, where crude prices have jumped even higher due to the region's larger energy reliance on MENA.

LONDON, May 3 - Oil prices edged higher on Thursday despite swelling U.S. crude inventories and record weekly U.S. production, as focus shifted back to OPEC supply cuts and the potential of new U.S. sanctions against Iran.

The general consensus among economists is that crude oil prices need to climb dramatically higher before threatening the global recovery.

Sinclair attributes the higher prices to a combination of factors including «the effects of the production cutbacks by OPEC and non-OPEC foreign producers finally kicked in, not to mention speculative money going into crude oil futures.»

Oil prices were higher in choppy trade on Wednesday, as a bigger - than - expected U.S. crude stock build pressured prices, but large draws of fuel stocks provided some support.

High demand for diesel and home heating fuel in particular means refineries are willing to pay more for crude oil, said Tom Kloza, global head of energy analysis at Oil Price Information Servioil, said Tom Kloza, global head of energy analysis at Oil Price Information ServiOil Price Information Service.

This means that current oil prices are higher than prices for crude deliveries in the future.

Oil prices have skyrocketed around 40 percent since the middle of 2017, with Brent crude rising to multi-year highs above $ 71 a barrel, before a pullback last week wiped out its gains for 2018.

«Those high margins translate into less resistance for crude oil prices that are a few dollars higher,» he said.

As someone in their mid-50's, I am old enough to remember the start of oil - price gouging and the beginning of OPEC (Organization of Petroleum Exporting Countries) holding our energy consumption hostage by controlling the supply of crude and keeping prices high.

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.

HOUSTON, Jan 26 - Oil prices settled higher on Friday after hitting three - year highs, with crude also posting a weekly gain as a weaker U.S. dollar underpinned prices.

Although much of the recent drop in oil prices has been due to the prospect of higher exports from Iran in the coming months (the International Energy Agency forecasts an extra 300,000 barrels a day by the end of March), the dumping of stored oil is essentially a short - term factor, and its influence on crude prices should logically pass quite quickly.

CNBC's Jackie DeAngelis reports on the rebound in oil prices as crude inches higher on signs of extended supply cuts.

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.

The oil market remains in what's known as contango — with the future price of crude trading at a higher level than today's spot price.

Crude - by - rail shipments are expected to ramp up in the second half of this year and into the first half of next year to «very material volumes of oil,» Pourbaix said, adding price discounts will improve but will likely remain higher than usual because rail costs more than pipeline transport.

CNBC's Jackie DeAngelis covers what's moving oil prices after crude settled nearly 5 percent higher.

Oil prices eased from recent highs with Brent crude futures off 94 cents at $ 73.70 a barrel, while U.S. crude lost 67 cents to $ 67.43.

China's Sinopec, Asia's largest refiner, plans to cut Saudi crude oil imports loading in May by 40 percent after national oil company Saudi Aramco set higher - than - expected prices, an official from the company's trading arm Unipec said.

The 2015 budget deficit had to be revised to 3.2 percent of GDP from 3 percent after crude oil prices plunged, but that's down from a high of 6.7 percent in 2009 during the Global Financial Crisis, Maybank noted.

The energy sector fell 1.1 percent on the back of a more than 1 percent drop in crude oil prices as the dollar remained near a four - month high.

Although U.S. crude oil inventories are at «historically high levels» for this time of year, according to the Energy Information Adminstration's Weekly Petroleum Status report, Molchanov predicts inventories will trend lower by the middle of the year as prices recover.

BP beat analyst expectations on Tuesday, as higher crude prices and rising production levels helped to fast - track a recovery in one of Europe's largest oil and gas companies.

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

May 1 Anadarko Petroleum Corp reported a quarterly profit on Tuesday as higher crude prices helped the oil and gas producer earn more per barrel.

NEW YORK (Reuters)- Oil jumped as much as 3 percent on Tuesday as a weak dollar propped up commodities, but crude prices came off their highs in post-settlement trading on signs of another big U.S. supply build last week.

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.

Meanwhile, the never - ending Middle East conflicts support high crude prices, which makes it feasible to produce shale oil in the US.

Oil - producing countries, meanwhile, are proving «remarkably successful in better aligning supply to demand, draining the crude oil glut and pushing oil prices to their highest levels since 2014,» DeHaan saOil - producing countries, meanwhile, are proving «remarkably successful in better aligning supply to demand, draining the crude oil glut and pushing oil prices to their highest levels since 2014,» DeHaan saoil glut and pushing oil prices to their highest levels since 2014,» DeHaan saoil prices to their highest levels since 2014,» DeHaan said.

As for consumers, it bears asking whether they're really any better off paying high prices for oil that's pumped close to home versus crude that's imported from overseas.

July 2016 Oil and Gas Prices Global crude markets showed resilience in June when both Brent and WTI rallied to a 2016 high above $ 51 / bbl, due to continuing outages in Nigeria and Canada, as well as a 1.7 % decline in U.S. production.

While the re-balancing of global oil markets is progressing, record - high crude and gasoline inventories continue to put downward pressure on prices.

SUE HERERA, NIGHTLY BUSINESS REPORT ANCHOR: Crude climbs, oil prices rise to their highest level in years as tensions escalate in the Middle East.

The US oil - rig count plateaued near the highest level in three years and showed signs of declining in late March (to 797), though it still stood 50 rigs above the year - end 2017 total.2 This contributed to expectations for a further increase in American crude production, which has topped 10 mb / d each week since early February, when WTI prices began to recede from their intra-quarterly high of US$ 66.14 a barrel.3 The amount of crude in US storage occasionally exceeded weekly estimates given the higher domestic output and fluctuating net import figures, reigniting fears that US production may thwart OPEC's efforts to clear global oversupply.

The example of crude oil alone shows how the U.S. makes money by buying a product from its NAFTA partners, processing it, and selling the finished product at a higher price.

A second oil crisis followed in 1979 in the wake of the Iranian Revolution, sending crude prices higher and hurting consumer spending.