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  • OPEC Oil Price Surge Will Soon Settle, Says Cavendish -- Market Talk

    OPEC Oil Price Surge Will Soon Settle, Says Cavendish -- Market Talk

    After so many OPEC meetings ending in disappointment, Paul Mumford from the London-based Cavendish Asset Management welcomes the cartel's decision to cut production by 1.2 million barrels a day. The fund manager says that prices should settle down after surging today as the market gets used to the new agreement. Global benchmark Brent is up 7.6% at $49.96 a barrel. (kevin.baxter@wsj.com)
    Contact us in London. +44-20-7842-9464 markettalk@wsj.com...
    See more | Go to post

  • Natural Gas Prices Rise on Cooler Weather

    Natural Gas Prices Rise on Cooler Weather

    By Timothy Puko
    Natural gas prices rose Wednesday to their highest price in nearly two years as cooler forecasts continue raising expectations for demand.

    Natural-gas futures for January delivery settled up 3.7 cents, or 1.1%, at $3.352 a million British thermal units on the New York Mercantile Exchange. It ended the month up nearly 11%, its eighth winning month of the last nine. A long winning streak has gas up 24% in less than two weeks.

    Wednesday's forecasts...
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  • OPEC Discord Sends Oil Prices Lower

    OPEC Discord Sends Oil Prices Lower

    By Kevin Baxter and Stephanie Yang
    Oil prices fell Tuesday, with market participants unconvinced that OPEC will reach a deal to cut production at the Wednesday meeting.

    Anticipation of action to limit output has boosted the crude market in recent weeks. But comments from officials ahead of the meeting sowed doubts over the Organization of the Petroleum Exporting Countries' ability to come to an agreement.

    Light, sweet crude futures for January delivery declined...
    See more | Go to post

  • OPEC Discord Sends Oil Prices Lower

    OPEC Discord Sends Oil Prices Lower

    By Kevin Baxter
    Oil prices fell on Tuesday, with market participants unconvinced that OPEC will reach a deal to cut production, anticipation of which that has boosted the crude market in recent weeks.

    Adding to those doubts, earlier Tuesday, Indonesia's oil minister on Tuesday sounded a pessimistic note about the coming OPEC meeting upon his arrival in Vienna for the meeting. He said his country hadn't decided yet whether to join production cuts and that he had "a mixed...
    See more | Go to post

  • OPEC Discord Sends Oil Prices Lower

    OPEC Discord Sends Oil Prices Lower

    By Kevin Baxter
    Oil prices fell on Tuesday, with market participants unconvinced that OPEC will reach a deal to cut production, anticipation of which that has boosted the crude market in recent weeks.

    The January contract for Brent, the global crude benchmark, was down 1.89% at $48.28 a barrel while its U.S. counterpart West Texas Intermediate fell 1.85% to $46.21.

    In September, OPEC agreed on targets that would have translated into production cuts of 200,000 to...
    See more | Go to post

  • Little Chance of OPEC Cut Given Saudi Arabia-Iran Dispute -- Market Talk

    Little Chance of OPEC Cut Given Saudi Arabia-Iran Dispute -- Market Talk

    There is a very small chance for an OPEC cut Wednesday as the Saudi Arabia-Iran dispute is still unresolved, says Bjarne Schieldrop, commodities analyst at SEB. The group will be "kicking the can to the next OPEC meeting in half a year's time," he says. Iran is offering OPEC a cap of 3.975 mb/d, which basically means that Iran offers no cut at all given that its average production from 2000 to 2008 was 3.78 mb/d, with a year high of 3.957 mb/d in 2004. This is unacceptable for Saudi Arabia...
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  • Oil Market Pricing in Just 30% Chance of OPEC Deal -- Market Talk

    Oil Market Pricing in Just 30% Chance of OPEC Deal -- Market Talk

    [Dow Jones] The oil market is only pricing in a 30% probability of an OPEC deal being reached, say analysts at Goldman Sachs. If the proposed production cut to 32.5 million barrels per day is agreed to, the bank expects prices to rally to the low $50s/bbl, with observed implementation required to support prices further. If no deal is reached, prices are seen averaging $45/bbl through next summer with an initial fall to around the $40/bbl after Wednesday's meeting. (Georgi.Kantchev@wsj.com)
    See more | Go to post

  • Limits Abound to Growth of Electric-Car Market -- Market Talk

    Limits Abound to Growth of Electric-Car Market -- Market Talk

    [Dow Jones] The oil industry is worried about the electric car, but there are reasons to be skeptical, writes Bernstein analysts. "After 150 years of trying, electric vehicles still represent less than 1% of the vehicle" fleet, they write in a client note. Gasoline still accounts for 24% of all oil demand and 8% of total energy demand. "Replacement of gasoline over the next three years is a shift, but not revolution, in the global energy mix." (dan.strumpf@wsj.com)
    See more | Go to post

  • The Man Behind Venezuela's Currency Black Market -- Barron's Blog

    The Man Behind Venezuela's Currency Black Market -- Barron's Blog

    By Dimitra DeFotis

    Venezuela's socialist President Nicolás Maduro charges DolarToday.com with waging an "economic war" by setting the black-market exchange rate online between bolivars and dollars - from the United States.

    The president of DolarToday, "one of Venezuela's most popular and insurgent websites," is Gustavo Díaz, a Home Depot employee in Alabama. The Wall Street Journal profile of Diaz notes that he is a former U.S.-trained military colonel...
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  • Natural Gas Gains as Winter Weather Approaches

    Natural Gas Gains as Winter Weather Approaches

    By Stephanie Yang
    Natural gas price rose to a three-week high on Monday, as colder weather boosted optimism over demand for heating consumption.

    Futures for December delivery were recently up 11.1 cents, or 3.9% to $2.954 a million British thermal units on the New York Mercantile Exchange. Natural gas prices traded at the highest level since Nov. 1.

    The natural gas market has been under pressure from warmer-than-average temperatures this month, as well as a record...
    See more | Go to post
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  • OPEC Oil Price Surge Will Soon Settle, Says Cavendish -- Market Talk
    cstal22
    After so many OPEC meetings ending in disappointment, Paul Mumford from the London-based Cavendish Asset Management welcomes the cartel's decision to cut production by 1.2 million barrels a day. The fund manager says that prices should settle down after surging today as the market gets used to the new agreement. Global benchmark Brent is up 7.6% at $49.96 a barrel. (kevin.baxter@wsj.com)
    Contact us in London. +44-20-7842-9464 markettalk@wsj.com...
    November 30th, 2016, 05:43 PM
  • Natural Gas Prices Rise on Cooler Weather
    cstal22
    By Timothy Puko
    Natural gas prices rose Wednesday to their highest price in nearly two years as cooler forecasts continue raising expectations for demand.

    Natural-gas futures for January delivery settled up 3.7 cents, or 1.1%, at $3.352 a million British thermal units on the New York Mercantile Exchange. It ended the month up nearly 11%, its eighth winning month of the last nine. A long winning streak has gas up 24% in less than two weeks.

    Wednesday's forecasts...
    November 30th, 2016, 05:41 PM
  • OPEC Discord Sends Oil Prices Lower
    cstal22
    By Kevin Baxter and Stephanie Yang
    Oil prices fell Tuesday, with market participants unconvinced that OPEC will reach a deal to cut production at the Wednesday meeting.

    Anticipation of action to limit output has boosted the crude market in recent weeks. But comments from officials ahead of the meeting sowed doubts over the Organization of the Petroleum Exporting Countries' ability to come to an agreement.

    Light, sweet crude futures for January delivery declined...
    November 29th, 2016, 10:17 AM
  • OPEC Discord Sends Oil Prices Lower
    cstal22
    By Kevin Baxter
    Oil prices fell on Tuesday, with market participants unconvinced that OPEC will reach a deal to cut production, anticipation of which that has boosted the crude market in recent weeks.

    Adding to those doubts, earlier Tuesday, Indonesia's oil minister on Tuesday sounded a pessimistic note about the coming OPEC meeting upon his arrival in Vienna for the meeting. He said his country hadn't decided yet whether to join production cuts and that he had "a mixed...
    November 29th, 2016, 10:16 AM
  • OPEC Discord Sends Oil Prices Lower
    cstal22
    By Kevin Baxter
    Oil prices fell on Tuesday, with market participants unconvinced that OPEC will reach a deal to cut production, anticipation of which that has boosted the crude market in recent weeks.

    The January contract for Brent, the global crude benchmark, was down 1.89% at $48.28 a barrel while its U.S. counterpart West Texas Intermediate fell 1.85% to $46.21.

    In September, OPEC agreed on targets that would have translated into production cuts of 200,000 to...
    November 29th, 2016, 10:13 AM
  • Little Chance of OPEC Cut Given Saudi Arabia-Iran Dispute -- Market Talk
    cstal22
    There is a very small chance for an OPEC cut Wednesday as the Saudi Arabia-Iran dispute is still unresolved, says Bjarne Schieldrop, commodities analyst at SEB. The group will be "kicking the can to the next OPEC meeting in half a year's time," he says. Iran is offering OPEC a cap of 3.975 mb/d, which basically means that Iran offers no cut at all given that its average production from 2000 to 2008 was 3.78 mb/d, with a year high of 3.957 mb/d in 2004. This is unacceptable for Saudi Arabia...
    November 29th, 2016, 10:10 AM
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