Rigzone Oil & Gas Headlines
- WTI closed above $60 as shaky Ukraine cease-fire talks kept a risk premium in the market.
- Today's $67 per barrel is only $44 per barrel in 2008-dollars, SEB Chief Commodities Analyst Bjarne Schieldrop said.
- Benchmark crude oil prices could be impacted significantly by escalating military tensions between the U.S. and Venezuela, Rystad warned.
- Talks stalling on a Russia-Ukraine peace plan kept sanctions in place, giving oil futures support.
- Saudi Arabia cut the price of its flagship crude grade to the lowest level in five years.
- 'The January natural gas contract traded as high as $5.039 [per MMBtu] yesterday before closing at $4.995', EBW Analytics Group Energy Analyst Eli Rubin said.
- Morningstar analysts said they believe oil demand 'still has five to 10 years of decent growth before plateauing in the early 2030s'.
- UK union Unite announced that over 400 offshore members employed by Bilfinger UK Limited 'have supported taking strike action in an escalating dispute over pensions'.
- Crude settled modestly higher after US-Russia talks failed to produce a Ukraine peace deal, keeping sanctions risks elevated.
- Insurance rates for ships calling at ports in the Black Sea are surging.