Cushing Newswire

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Results 1 - 20 of 92 for "u:reuters.com" in Cushing, OK

  1. COLUMN-Futures prices point to more balanced oil market in second half: KempRead the original story

    Monday Apr 13 | Reuters

    Professional commodity traders watch spreads rather than spot prices as the best indicator of the balance between supply and demand. In crude, the narrowing spreads for both Brent and West Texas Intermediate indicate a closer balance between supply and demand in the second half of the year than in the first.

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  2. UPDATE 1-U.S. crude oil stocks surge 11 mln bbls, biggest rise since 2001Read the original story

    Wednesday Apr 8 | Reuters

    U.S. crude stocks surged nearly 11 million barrels last week, the biggest gain in 14 years, as imports jumped, while gasoline inventories unexpectedly increased, government data showed on Wednesday. Crude inventories rose 10.95 million barrels in the week to April 3 to 482.4 million, hitting record highs for the 13th consecutive week, according to data from the Energy Information Administration .

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  3. RPT-Surprise pause in Cushing oil stock rise likely blip, not trendRead the original story

    Tuesday Apr 7 | Reuters

    An unexpectedly tiny rise in crude oil stocks at Cushing, Oklahoma, last week was likely a one-off interruption in the unprecedented build in U.S. inventories, traders said, not a reversal. On Monday, energy information group Genscape said its data showed Cushing stocks rose by only 169,000 barrels in the week to April 3. Oil futures jumped nearly $3 a barrel on surprise that the build was so much less than the average weekly build of 2 million barrels in recent months at the U.S. storage hub.

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  4. UPDATE 1-U.S. crude inventories at record highs, gasoline supplies tumble - EIARead the original story

    Wednesday Apr 1 | Reuters

    U.S. crude inventories rose last week to a record high for the 12th straight week, while gasoline stocks fell more than four times than expected as demand grew for the motor fuel, data from the Energy Information Administration showed on Wednesday. Crude inventories rose 4.8 million barrels to 471.4 million in the week to March 27, compared with analysts' expectations for an increase of 4.2 million barrels.

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  5. U.S. may skirt oil storage crisis as drivers hit the roadRead the original story w/Photo

    Monday Mar 30 | Reuters

    A month ago, it seemed inevitable: a massive global oversupply of crude oil production would overwhelm storage tanks in Oklahoma and fill supertankers off Singapore. Now, there are growing signs that the U.S. oil market can avoid the doomsday scenario in which it runs out of room to stockpile surplus crude, a development that oil traders worried would send crude prices into another tailspin.

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  6. UPDATE 1-U.S. crude stocks rise as Cushing storage maintains record - EIARead the original story

    Wednesday Mar 25 | Reuters

    U.S. crude inventories soared last week to extend their record build into the eleventh consecutive week as stocks at the Cushing, Oklahoma, delivery hub also hit another peak, data from the Energy Information Administration showed on Wednesday. Crude inventories rose 8.2 million barrels to 466.7 million last week, another 80-year high record, compared with analysts' expectations for an increase of 5.1 million barrels.

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  7. Global demand to help oil prices despite U.S. glut-senior Gulf OPEC delegateRead the original story w/Photo

    Tuesday Mar 24 | Reuters

    Stronger-than-expected global oil demand should help support crude prices at around $55-$60 a barrel in the next two months despite some signs of a growing glut in the United States,a Z a senior Gulf OPEC delegate told Reuters on Tuesday. The comments appear to counter some market forecasts that the U.S. oil glut may push prices to as low as $20-$30 and are a sign that the core Gulf OPEC members remain confident about their strategy of defending market share.

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  8. U.S. refiners turn to tanker trucks to avoid 'dumbbell' crudesRead the original story w/Photo

    Sunday Mar 22 | Reuters

    In a pressing quest to secure the best possible crude, U.S. refiners are increasingly going straight to the source. Firms such as Marathon Petroleum Corp and Delek U.S. Holdings are buying up tanker trucks and extending local pipeline networks in order to get more oil directly from the wellhead, seeking to cut back on blended crude cocktails they say can leave a foul aftertaste.

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  9. UPDATE 1-Brent falls towards $55 as rally fades on inventory buildRead the original story

    Mar 18, 2015 | Reuters

    Brent crude futures fell towards $55 a barrel on Thursday after a bigger than expected crude stock build in the United States, though losses were limited by a weaker dollar as the Federal Reserve signalled a slower pace of interest rate hikes. Brent crude for May delivery fell 50 cents to $55.41 a barrel by 0439 GMT, after jumping as much as 6 percent in the previous session on the dollar's tumble.

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  10. Brent crude falls below $56 on oil inventory builtRead the original story

    Mar 18, 2015 | Reuters

    Brent crude slipped below $56 a barrel on bigger than expected oil stocks in the United States though losses were limited on a weaker dollar as the Federal Reserve signalled a slower pace of interest rate hike. Brent crude oil futures for May delivery fell 22 cents to $55.69 a barrel by 0155 GMT, after jumping as much as six percent in the previous session.

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  11. UPDATE 7-Oil markets diverge after another big U.S. stock build, await FedRead the original story

    Mar 18, 2015 | Reuters

    Oil markets diverged on Wednesday with Brent supported while U.S. crude prices fell after domestic inventories hit record highs for a 10th week and supplies at the futures' delivery hub hit a peak. Traders, however, said the market seemed to be holding out from making new lows on bets the U.S. central bank may hint at a sooner-than-later rate hike.

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  12. Global Markets-Europe shares rise, Wall St falls before Fed statementRead the original story

    Mar 18, 2015 | Reuters

    Stocks on Wall Street slipped and shares in Europe rose on Wednesday, reflecting diverging policies between the Federal Reserve and the European Central Bank, while oil prices fell as data showed U.S. crude inventories hit a record high. U.S. stocks were lower ahead of the Fed's highly anticipated policy statement at 2 p.m. and news conference half an hour later, with the U.S. central bank expected to lay the groundwork for its first interest rate hike in nearly a decade.

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  13. As support wanes, U.S. oil prices resume sprint lowerRead the original story

    Mar 16, 2015 | Reuters

    A four-day drop in U.S. oil prices has shattered a month of relative stability and raised the specter of another sustained move lower as rocketing production and swelling inventories re-emerge as dominant market forces. Hammered by oversupply, U.S. oil prices fell 60 percent from $107 a barrel in June to below $44 a barrel in January before rallying and trading in a range around $50 in February.

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  14. Global Markets-Dollar off recent peaks; stocks, Brent upRead the original story

    Mar 12, 2015 | Reuters

    The dollar softened the most in a month against a basket of currencies on Thursday, giving stocks and some commodities respite after sharp sell-offs triggered by expectations of the U.S. Federal Reserve raising interest rates. The currency was further pressured by a third-straight decline in a monthly reading of U.S. retail sales, easing pressure on crude oil prices and other commodities priced in the greenback.

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  15. UPDATE 1-Blueknight raises storage rates at Cushing hub amid cheap crude - CEORead the original story

    Mar 12, 2015 | Reuters

    Blueknight Energy Partners LP has increased storage rates and lengthened contracts at the key U.S. oil hub in Cushing, Oklahoma, which is expected to reach full capacity in the next two months due to cheap crude supplies. Chief Executive Mark Hurley told analysts on Wednesday the crude market's contango - where the near term prices is cheaper than future prices, giving customers incentive to store then sell barrels later at the higher price - since the fourth quarter has sharply increased demand, letting Blueknight renew contracts at higher rates and longer terms.

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  16. Brent rebounds towards $57 after U.S. crude stocks fallRead the original story w/Photo

    Mar 10, 2015 | Reuters

    Brent crude rose towards $57 a barrel on Wednesday, paring some of the previous session's sharp losses, after data showed U.S. crude stocks fell for the first time in two months. The benchmark closed nearly 4 percent down in the previous session on a rallying U.S. dollar and before an industry group said U.S. crude inventories fell by 404,000 barrels last week.

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  17. UPDATE 3-Brent crude dips below $58 on strong dollar and supplyRead the original story

    Mar 10, 2015 | Reuters

    Brent crude futures dipped below $58 a barrel on Tuesday as the dollar scaled multi-year highs and the oil market remained hobbled by oversupply and weak demand. The U.S. dollar hit a near 12-year peak against the euro and an eight-year high against the yen, hurting commodities priced in dollars by making them more expensive for holders of other currencies.

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  18. Brent steadies above $58.50 after China data; strong dollar hurtsRead the original story w/Photo

    Mar 9, 2015 | Reuters

    Brent crude gave up most of its early gains and steadied above $58.50 a barrel on Tuesday, supported by data showing annual consumer inflation in top energy consumer China recovered last month while a firmer dollar kept a lid on prices. China, which is battling growing deflationary pressures, saw consumer inflation rise 1.4 percent in February, beating the 0.9 percent gain estimated by analysts.

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  19. Press Digest - Wall Street Journal - March 6Read the original story

    Mar 5, 2015 | Reuters

    The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.

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  20. U.S. oil rises, Brent pares losses on Iran newsRead the original story w/Photo

    Mar 4, 2015 | Reuters

    U.S. oil futures rose on Wednesday and benchmark Brent pared losses as OPEC member Iran stressed that it opposed a timeline for a freeze on nuclear activities, news that helped crude rebound from an early slide tied to swelling U.S. stockpiles. Comments from Saudi Arabia's oil minister that prices ought to stabilize from the selloff of recent months also helped put a floor under prices, dealers said.

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