Source: Adam Hunter, CBC News, January 6, 2020 Extended increase in oil price could help Sask. economy Oil prices have continued to rise in the wake of the U.S. killing of Iranian Gen. Qassem Soleimani and the situation has been having a ripple effect on the Saskatchewan and Canadian economy. On Friday morning, a U.S.… Continue reading Oil prices rise amid U.S.-Iran tensions, economic ripple effects could be felt in Sask.
Tag: oil price
Bargain price oil: How long will it last?
Source: Kyle Bakx, Tony Seskus, CBC News, October 18, 2018 Western Canadian oil industry is losing at least $100M every day, according to analyst As oil from Alberta and Saskatchewan continues to sell at record discounts, American refineries are enjoying lucrative profit margins at the expense of Canadian oil producers. The sharp drop in oil prices began in late September and… Continue reading Bargain price oil: How long will it last?
Canadian light oil prices hit with same discounts afflicting oilsands
Source: The Canadian Press, April 3, 2018 Pipeline constraints, American refinery capacity cited as reasons for low oil pricing The same factors that have inflated the discount paid for Canadian oilsands heavy crude compared with U.S. oil are also driving a substantial rise in the discount for light Canadian oil, according to a report from accounting… Continue reading Canadian light oil prices hit with same discounts afflicting oilsands
Oil’s rout is over, hail the return of $100 crude — well, maybe
Source:Bloomberg News, FinancialPost.com, January 22, 2018 After three years of gloom, the number 100 is finally starting to resurface in the forecasts of market analysts. A slump in new production outside the U.S. shale patch in 2019 could help to send Brent crude briefly back above US$100 a barrel next year, according to London-based consultancy Energy Aspects. The… Continue reading Oil’s rout is over, hail the return of $100 crude — well, maybe
Canadian heavy oil headed for highest levels in three years: GMP FirstEnergy
Source: FinancialPost.com, January 16, 2018 If Western Canadian Select improves by $6 to $7, then these would be the highest prices in the past few years, according to GMP FirstEnergy analyst Martin King CALGARY — Canadian heavy oil prices could be headed to their highest levels in three years, even as pipeline operators are rationing… Continue reading Canadian heavy oil headed for highest levels in three years: GMP FirstEnergy
Oil price rises to highest level since 2014
Source: CBC News, January 10, 2018 OPEC pact plus crude inventories data push oil price higher The benchmark North American oil price hit its highest level since 2014 on Wednesday as two new data points came out showing supplies are drawing down, and an OPEC pledge to turn off the taps seems to be working. A… Continue reading Oil price rises to highest level since 2014
TSX, Wall Street hit new record highs, loonie down
Source: David Hodges, The Canadian Press, January 3, 2018 TORONTO — Rallying oil prices helped push Canada’s main stock index and its U.S. counterparts into record territory on Wednesday, while the loonie lost ground. The S&P/TSX composite index advanced 61.56 points to 16,371.55, with energy shares up 1.5 per cent as the February crude contract surged… Continue reading TSX, Wall Street hit new record highs, loonie down
Don’t write oil’s ‘obituary,’ IEA says in long-term demand forecast
Source: CBC News, November 14, 2017 U.S. projected to become net oil exporter thanks to gains from shale oil output Global oil demand is expected to keep rising over the next two decades, albeit at a steadily decreasing pace, according to a new report released Tuesday by the International Energy Agency. “It is… Continue reading Don’t write oil’s ‘obituary,’ IEA says in long-term demand forecast
Oil dips under $45 as IEA data shows glut may stretch into year 3
By Thomson Reuters, November 11, 2016 Oil prices dipped on Friday as the market refocused on a persistent fuel supply overhang that is not expected to abate unless OPEC and other producers make a significant cut to their output. U.S. West Texas Intermediate (WTI) crude oil futures were trading down 10 cents at $44.56 per… Continue reading Oil dips under $45 as IEA data shows glut may stretch into year 3
Oil surges to US$51.82 a barrel, highest since July 2015
By The Canadian Press, October 19 2016 TORONTO — The price of oil settled at US$51.82 a barrel today, its highest level in more than a year. December contracts for crude, which are the most heavily traded, soared US$1.20 due to several factors including signs that Saudi Arabia foresees an end to the downturn in… Continue reading Oil surges to US$51.82 a barrel, highest since July 2015