Cushing Newswire

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Results 1 - 20 of 77 for "u:reuters.com" in Cushing, OK

  1. UPDATE 7-Oil rises on short covering but supply worries loomRead the original story

    Thursday Jan 29 | Reuters

    Global oil prices firmed slightly on Thursday but not before U.S. crude hit a near six-year low and benchmark Brent pared gains on data showing fresh additions to already record-high U.S. oil inventories. Oil prices had risen broadly earlier in the day after preliminary U.S. data showed weekly jobless claims at a near 15-year low, indicating further strength in the world's largest economy.

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  2. Global Markets-Stocks ease on earnings outlook, Greece worriesRead the original story

    Thursday Jan 29 | Reuters

    Global equity markets eased on Thursday, slipping over Greek concerns and a mixed earnings season so far, but Wall Street rebounded in a late surge and U.S. government bond yields rose on fresh signs of a strong American labor market. Major Wall Street indices reversed early losses to rally as Apple Inc and Boeing Co extended gains fueled by strong earnings reports earlier this week.

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  3. Canada FX Debt-C$ eases moderately after data and as bank policies weighRead the original story

    Friday Jan 23 | Reuters

    U.S. crude prices , an influential driver for the oil-sensitive Canadian dollar, also fell on data that showed U.S. crude stockpiles in Cushing, Oklahoma, rose 2.7 million barrels in the week ending Tuesday and reports of a partial shutdown at a BP oil refinery in Whiting, Indiana. Canada is a significant crude exporter.

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  4. UPDATE 11-Brent closes up, U.S. crude down after Saudi king diesRead the original story

    Friday Jan 23 | Reuters

    Brent crude was buoyed on Friday by market uncertainty over the future of Saudi oil output, while U.S. crude fell on more signs of oversupply. Saudi Arabia's new king, Salman, who took the throne on Friday morning after the death of his brother Abdullah, is expected to continue OPEC's policy of keeping oil output steady to protect market share.

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  5. UPDATE 2-Kinder Morgan entering Bakken with $3 billion dealRead the original story

    Wednesday Jan 21 | Reuters

    Leading U.S. pipeline Kinder Morgan Inc said on Wednesday it will enter North Dakota's Bakken shale with a $3 billion acquisition of Hiland Partners, a pipeline and logistics company founded by Continental Resources Chief Executive Officer Harold Hamm. The deal includes acreage in the Bakken's top producing counties from which Kinder expects substantial oil output despite crude prices that have fallen by more than half since June.

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  6. Kinder Morgan to buy Hiland Partners for $3 billionRead the original story w/Photo

    Wednesday Jan 21 | Reuters

    Hiland Partners builds and operates oil gathering and transportation pipelines and natural gas gathering and processing systems primarily in the Bakken shale oilfields in North Dakota and Montana. Hiland's customers include Continental and Hess Corp Pony Express pipeline in Wyoming.

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  7. UPDATE 1-Plains says crude on Texas, New Mexico pipeline getting too lightRead the original story

    Friday Jan 16 | Reuters

    Plains All American's told shippers on Friday that crude moving through its West Texas and New Mexico pipeline systems is surpassing pressure limits, according to a notice reviewed by Reuters. It was the latest sign of how pipeline companies are struggling with higher volumes of very light crude from domestic shale plays when refiners have a limited appetite for it.

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  8. Brent crude to fall to $31 per barrel by end-Q1 -BofA MerrillRead the original story

    Thursday Jan 15 | Reuters

    Brent oil prices will tumble $31 per barrel by the end of the first quarter as global petroleum inventories continue to build, Bank of America Merrill Lynch analysts forecast on Thursday. Analysts around the world are slashing forecasts for Brent and WTI crude in the wake of a slide of more than 50 percent since last June which has taken prices to near-six-year lows.

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  9. U.S. crude to regain Brent premium, briefly, on storage bidRead the original story

    Tuesday Jan 13 | Reuters

    For only the third time since 2010, U.S. benchmark West Texas Intermediate crude traded at a premium to global marker Brent on Monday, restoring for a few brief moments what was once the normal hierarchy of the world oil market. While the premium lasted less than five minutes before U.S. futures CLc1 closed at a 70-cent discount, a growing number of oil traders say WTI could ride high for days if not weeks in the near future, the latest surprising twist in a closely watched spread that has flummoxed the market for the past five years.

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  10. High Noon on the Gulf Coast: Canada, Saudi oil set for showdownRead the original story w/Photo

    Tuesday Jan 6 | Reuters

    As a test of wills between OPEC nations and U.S. shale drillers fuels a global oil market slump, a brewing battle between Canadian and Saudi Arabia heavy crudes for America's Gulf Coast refinery market threatens to drive prices even lower. While the stand-off between the oil cartel and U.S. producers of light, sweet shale oil has captured the limelight in recent months, the clash over heavier grades - playing out in the shadowy, opaque physical market - may put even more pressure on global prices that have halved since mid-2014.

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  11. Showdown looms as North Dakota legislators mull oil levy sharingRead the original story

    Tuesday Jan 6 | Reuters

    North Dakota's legislature will decide how to divvy up oil tax revenue among the state's 53 counties, and whether to wave sales taxes on materials used to build natural gas pipelines and chemical plants in a biennial session starting on Tuesday. How to share lucrative tax revenue from booming oil production promises to be the most contentious part of the 80-day session, with politicians from the state's western oil producing counties clamoring for more money to build roads, schools and other infrastructure projects.

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  12. Oil reverses early gains, trades near $57 as supply glut prevailsRead the original story w/Photo

    Friday Jan 2 | Reuters

    Brent crude LCOc1 reversed early gains to trade near $57 a barrel on Friday, as the glut of oil that has halved prices since June overshadowed investors repositioning at the start of the year for an eventual recovery. Brent has fallen to its lowest since 2009 as top exporter Saudi Arabia and other large Gulf producers have declined to cut production in the face of fast-growing U.S. shale oil output, despite pleas from other members in the Organization of the Petroleum Exporting Countries .

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  13. UPDATE 2-Brent turns lower, falls towards $57 as supply glut fears prevailRead the original story

    Thursday Jan 1 | Reuters

    Brent crude futures retreated from early highs above $58 and fell towards $57 a barrel on Friday as an abundance of oil erased earlier support drawn from a larger-than-expected fall in U.S. crude stocks. U.S. crude inventories fell by 1.8 million barrels in the last week as refineries raised production, compared with analysts' expectations of a decrease of 67,000 barrels.

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  14. India Morning Call-Global MarketsRead the original story

    Dec 31, 2014 | Reuters

    U.S. stocks fell on Wednesday as crude oil prices continued their descent, but the S&P closed out a third straight year of double-digit gains. For the year, the Dow ended up 7.5 percent, notching its sixth straight annual gain, and the Nasdaq rose 13.4 percent.

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  15. Canada Stocks-TSX ends 2014 with 7.4 pct gain despite oil's fallRead the original story

    Dec 31, 2014 | Reuters

    Canada's main stock index closed little changed after a choppy session on Wednesday, but it ended 2014 in positive territory despite a precipitous slide in oil prices that hit the resource-heavy index hard in the second half of the year. The index rose 7.4 percent for the year, a slowdown from the previous year's 9.6 percent gain and it closed more than 1,000 points below the record high it reached in September.

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  16. UPDATE 1-U.S. crude stocks decline, Cushing glut grows -EIARead the original story

    Dec 31, 2014 | Reuters

    By Jessica Resnick-Ault U.S. crude stocks fell more than expected last week as refineries hiked output, data from the Energy Information Administration showed on Wednesday, but inventories at the oil hub at Cushing, Oklahoma, grew, keeping prices depressed. Crude inventories fell by 1.8 million barrels in the last week, compared with analysts' expectations for an decrease of 67,000 barrels.

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  17. Enbridge rations space for Ozark, Spearhead pipelinesRead the original story

    Dec 22, 2014 | Reuters

    Canadian pipeline operator Enbridge Inc said on Monday it was rationing space on its Ozark crude oil pipeline for January, and its Spearhead pipeline for January and February. The Spearhead pipeline, which carries oil from Flanagan, Illinois, to the Cushing, Oklahoma, storage hub, was apportioned at 89.3 percent for January and 90.0 percent for February, it said.

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  18. CORRECTED (OFFICIAL)-In North Dakota, countdown looms for $5.3 billion oil tax breakRead the original story

    Dec 22, 2014 | Reuters

    Tumbling U.S. oil markets approached an important if obscure milestone on Thursday, closing near a price that could trigger a $5.3 billion, two-year tax break for North Dakota oil drillers as soon as next summer. Under a decades-old law, the state at the heart of the U.S. shale oil boom would waive its 6.5 percent oil extraction tax once the average monthly price of benchmark West Texas Intermediate crude at Cushing, Oklahoma, falls below a certain threshold for five consecutive months.

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  19. In North Dakota, countdown looms for $5.3 billion oil tax breakRead the original story w/Photo

    Dec 19, 2014 | Reuters

    Tumbling U.S. oil markets hit an important if obscure milestone on Thursday, closing for the first time at a price that could trigger a $5.3 billion, two-year tax break for North Dakota oil drillers as soon as next summer. Under a decades-old law, the state at the heart of the U.S. shale oil boom would waive its 6.5 percent oil extraction tax once the average monthly price of benchmark West Texas Intermediate crude at Cushing, Oklahoma, falls below a certain threshold for five consecutive months.

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  20. Enterprise shelves massive Bakken pipeline projectRead the original story

    Dec 12, 2014 | Reuters

    Enterprise Products Partners on Friday shelved plans to build the first crude pipeline from North Dakota to the storage hub in Cushing, Oklahoma, likely hindered by competition from other shippers and lower oil prices. In a two-sentence announcement, Enterprise said it wouldn't build the 1,200-mile , 340,000 barrels-per-day pipeline because too few shippers had signed up to support it.

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