Oil and Gas

Diamond Offshore Drilling goes bankrupt with debts of more than $2.6 billion

30 Apr 2020 @ 00:44
Texas headquartered Diamond Offshore Drilling has filed for bankruptcy with debts of more than $2.6bn (€2.36bn, £2.06bn), due to the “unprecedented” impact of an oil price war and the global coronavirus outbreak. The collapse of the company comes 12 days after it missed an interest payment on $500m worth of bonds and said it was working with advisers […]
 

Crude Oil: WTI Stays Subdued As Bears Snap Towards $13 in Oversupply

29 Apr 2020 @ 01:13
USDWTI Price Analysis – April 27 Oil prices started on a sour note in the last week of April, dropping over 8 percent during Monday’s session on sustained over-supply fears. A barrel of the North American benchmark, West Texas Intermediate (WTI), is losing value close to $14.50 level, marking an 8.85 percent decline on the day. […]
 

Brent Crude Oil Prices Near Important Support Levels, What’s Next?

16 Apr 2020 @ 21:28
Brent Crude oil prices remain under pressure, and yesterday the future slid by 8.72% as traders are disappointed with the latest OPEC+ deal, stockpiles are increasing rapidly, and US economic indicators for March were shockingly weak. Brent Crude oil prices have now given up 61.8% of their 68.6% gain from the 2020 low of $21.58. […]
 

How much will Brexit impact commodities in the UK and Europe?

12 Mar 2020 @ 03:27
Commodity trading is the oldest form of trading there is. It has been around for centuries, and it is rooted in agricultural trading, such as the buying, selling and exchanging of grain and animals. Other commodities include precious metals or natural resources such as silver, copper, cotton and aluminium. Those wanting to invest in commodities […]
 

Crude Oil: WTI Price Tumbles As Market Bearish Trend Extends Lower To $27.40 Level

11 Mar 2020 @ 02:46
USDWTI Price Analysis – March 9 WTI oil futures for April delivery is in free fall mode on Monday after a price war between Saudi Arabia and Russia caused by last week’s OPEC+ meeting. On Monday, the oil price opened 11 percent lower and trading at a $27.40 level multi-year low, though not far from […]
 

Europa Oil and Gas Plc price analysis: EOG begins a rally that may culminate in a Golden Cross

19 Dec 2019 @ 13:49
Europa Oil and Gas shares (LSE:EOG) has started a strong rally in the context of an uptrend and that may result in a Golden Cross, i.e. when price crosses the EMA 200 to the upside. 4 EMAs are used for this analysis and they are EMAs 10, 20, 50 and 200. The color that stands […]
 

The Impact of Brexit on the UK Energy Sector

11 Dec 2019 @ 01:09
All of you are surely aware of the fact the UK exit from the EU has recently got delayed by three more months. As things stand now, the new Brexit deadline has been set on January 31, 2020. In this brief discussion, let us try to figure out how this transition may impact the different […]
 

Crude Oil Prices Steady Above $58.00 After OPEC+ Announce Production Cuts

07 Dec 2019 @ 01:58
Earlier today, the Organization of Petroleum Exporting Countries (OPEC) and their partner countries announced that higher production cuts until March 2010. The existing agreement is for the cartel as a whole to cut back production by 1.2 million barrels per day. Now, in an effort to prop up oil prices, OPEC+ will now cut daily […]
 

Canadian Overseas Petroleum Limited price analysis: COPL moves sideways in apparent weakness, ready for a strong rally

05 Dec 2019 @ 02:23
Canadian Overseas Petroleum Limited shares (LSE:COPL) are currently consolidating, in apparent weakness. A breakout is imminent. Looking at price more closely, it can be seen that the market is making weak attempts to rally, but that effort pales into insignificance when compared to the ongoing sideways movement. Bulls are intent on pushing price upwards but […]
 

Petrel Resources price analysis: PET becomes bullish, will it reach the resistance at 20.00?

22 Nov 2019 @ 23:12
Petrel Resources shares (LSE:PET) are in an uptrend, as price is trying to recover from its recent losses. The first target is the resistance level at 10.00 and the second target is at the resistance level of 20.00. Since the market moved above the upper Trendline in November 2019, the rally has become strong as […]
 
 
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