|Day's Range||47.23 - 48.73|
Kinder Morgan (KMI) is one of the largest midstream energy companies in the US. It owns or operates ~84,000 miles of pipelines and 155 terminals.
Investing.com – Crude oil prices settled higher on Friday supported by tighter supplies amid ongoing disruption to the Keystone pipeline, while a report suggesting OPEC and Russia agreed on a plan to extend output curbs lifted sentiment.
Oil major Statoil has surprised markets by saying that it isn’t pursuing heavy oil production anymore, a type of crude that makes up 70% of the world’s crude reserves
Russia and the Organization of Petroleum Exporting Countries have reached a preliminary agreement to extend their oil production cuts to the end of 2018. The details of the deal are still being worked out, but it's a step forward, as Russia had previously been hesitant to come to the table, as the current agreement extends into March of next year. Russia wants the extension deal to include new language that would link the size of the curbs to the health of the oil market, they said... Russian President Vladimir Putin talked on the phone with Saudi King Salman bin Abdulaziz on Nov. 21, during which they “emphasized importance of further coordination between Russia and Saudi Arabia in the global hydrocarbon markets,” according to a Kremlin statement.
U.S. oil exports to Asia hit the second-highest on record last week, and the trend is set to continue as shale producers ramp up production
While a strong rise in China drove global steel production in October, output from the country is expected to decline in the coming months due to winter capacity cuts.
By Vladimir Soldatkin MOSCOW (Reuters) - Russia said on Friday it is ready to support extending a deal among oil producers on cutting output, less than a week before OPEC meets in Vienna to discuss policy, although it has yet to say how long it should be for. Russian Energy Minister Alexander Novak said that Russia would discuss the details of an extension of the global deal on Nov. 30, but made no mention of how long this should last beyond its March expiry. "We see that 50 percent of oil stockpiles have been removed, the oil price has reached its balance," Novak told RBC TV.
By Alastair Sharp TORONTO (Reuters) - Canada's main stock index pushed higher on Friday, led by modest gains for its heavyweight financial and energy sectors in a broad rally that helped it notch a 0.7 percent gain on the week. The Toronto Stock Exchange's S&P/TSX composite index ended the session up 33.79 points, or 0.21 percent, at 16,108.09. The smaller consumer discretionary group rose 0.6 percent, echoing gains for U.S. retail stocks as the holiday shopping season appeared to get off to a strong start, especially online.
Investing.com - Gold prices gained slightly in Asia on Friday as concerns over a sharp selloff in China overnight eased and investors turned focus to the U.S. and next week's Senate review of proposed tax cuts.
By Catherine Ngai NEW YORK (Reuters) - U.S. oil prices hit their highest levels in more than two years on Friday after the continued shutdown of a pipeline running from Canada to the United States was expected to reduce supply into a major storage facility. Trading volumes were thin on Friday due to the U.S. Thanksgiving holiday. Benchmark Brent crude rose 31 cents, or 0.49 percent, to settle at $63.86 a barrel.
Oil analysts may be increasingly uncertain about the outcome of this month’s OPEC meeting, but a close examination of the facts should lead you to only one conclusion
The world’s largest oil-exporting countries hold a lot of sway in global markets, and keeping abreast of their politics is vital for analysts
According to one analyst, oil markets are currently trading on geopolitical fear rather than fundamentals, and there is very little upside left
Investing.com - Oil prices were a bit lower on Thursday, but still remained near their highest level in two-and-a-half years amid optimism that the crude market was well on its way towards rebalancing.
Crude oil prices edged to two and a half year high on Wednesday, but trades slightly lower on Thursday morning after yesterday’s report revealed that crude showed crude stockpiles fell more-than-estimated and a disruption to a major pipeline in Canada boosted the bullish sentiment. Crude oil stockpiles fell for the first time in three weeks. … Continue reading WTI Crude Oil Daily Analysis – November 23, 2017
Second Estimate GDP numbers will come from the U.K today, and Canada will issue its Core Retail Sales figures. The U.S is celebrating Thanksgiving and Japan is on holiday too. The Euro and Pound gained extensively against the U.S Dollar on Wednesday. Fed Meeting Minutes Stay on Path, Wall Street Remains Optimistic Wall Street turned … Continue reading Pound & Euro Make Big Moves along with Gold
Gold The gold prices continued to trade range-bound during the Wednesday’s session as $1300 level above is a strong resistance zone. The market is expected to remain in the tight range of $1275 and $1300 and break on either side will be very significant for this market. Going forward, this market will remain difficult to … Continue reading Commodities Daily Forecast – November 23, 2017
The USDCAD pair crashed lower yesterday on the back of some steady weakness in the dollar during the course of the day. It turned out to be a bad day for the dollar which only got worse after the FOMC minutes were released late in the day. The weakness in the dollar helped to push … Continue reading USD/CAD Daily Fundamental Forecast – November 23, 2017
Gold prices rose higher on the back of a weak dollar but still they are finding the 1300 region to be a hard one to crack through. We have been saying that the gold prices have been in a consolidation and ranging mode for the past couple of months with little chances of a break … Continue reading Gold Prices Higher on Dollar Weakness
With not much of news around, the bitcoin prices began to consolidate in a steady manner, something which we had pointed out to in our forecast yesterday. The prices trade in the $8200 region and after a bit more consolidation we are likely to see the prices head towards the $8500 region. The bitcoin and … Continue reading Bitcoin and Ethereum Price Forecast – Prices Still in Consolidation
Investing.com - Crude oil dipped in Asia on Thursday as the US heads to a long weekend and traders await word from OPEC on a widely expected extension of crude oil output curbs.
By Nia Williams CALGARY, Alberta (Reuters) - U.S. crude hit a two-year high in thin trade on Thursday as the shutdown of a major crude pipeline from Canada and a draw on fuel inventories pointed to a tightening market, despite rising output from U.S. producers. West Texas Intermediate crude was up 54 cents at $58.56 per barrel by 2:00 p.m. EST (1900 GMT), close to a two-year peak of $58.58 touched earlier in the session. Trading volumes were thin because of the Thanksgiving holiday in the United States.