Cushing Newswire

Cushing Newswire

Comprehensive Real-Time News Feed for Cushing, OK.

Results 1 - 20 of 78 for "u:reuters.com" in Cushing, OK

  1. UPDATE 1-WTI-Brent spread hits 3-wk high after surprise U.S. oil stock buildRead the original story

    4 hrs ago | Reuters

    U.S. crude oil futures' discount to Brent, one of the biggest plays in oil, widened to more than $5 a barrel for the first time in three weeks on Wednesday after U.S. government data showed a surprise inventory build. Crude stockpiles in the United States rose 2.4 million barrels last week, the first weekly rise since April, after analysts in a Reuters poll had forecast a 2 million-barrel draw.

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  2. UPDATE 9-Oil lower after EIA data shows gasoline stocks buildRead the original story

    Wednesday Jun 17 | Reuters

    Crude oil and refined products futures turned lower on Wednesday in volatile trading after government data showed a surprise gasoline inventory build last week, even as production eased. Concerns about Greece's debt problems and the potential effect on Europe's demand for petroleum also helped pressure crude futures.

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  3. UPDATE 2-U.S. oil price manipulation lawsuit settled for $16.5 mlnRead the original story

    Thursday Jun 4 | Reuters

    Oil traders have reached a $16.5 million settlement of a U.S. class action lawsuit accusing Arcadia Petroleum Ltd, its Parnon Energy unit and two traders of illegally manipulating the price of crude oil in early 2008. It resolves charges that the companies, Arcadia trader Nicholas Wildgoose and Parnon trader James Dyer violated federal antitrust and commodities laws by using futures and options to benefit financially from an artificial crude oil shortage they created at a key hub in Cushing, Oklahoma.

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  4. UPDATE 1-U.S. oil price manipulation lawsuit settled for $16.5 mlnRead the original story

    Thursday Jun 4 | Reuters

    Arcadia Petroleum Ltd, its Parnon Energy unit and two traders have reached a $16.5 million settlement of a U.S. class-action lawsuit accusing them of illegally manipulating the price of crude oil in early 2008. It resolves charges by other traders that the companies, Arcadia trader Nicholas Wildgoose and Parnon trader James Dyer violated federal antitrust and commodities laws by using futures and options to benefit from an artificial crude oil shortage they created at a key hub in Cushing, Oklahoma.

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  5. UPDATE 1-U.S. crude stockpiles fall despite declining refinery runs - EIARead the original story

    Wednesday Jun 3 | Reuters

    U.S. crude oil stockpiles fell for the fifth week in a row even as refinery operating rates eased, data from the Energy Information Administration showed on Wednesday. Crude inventories fell 1.95 million barrels to 477.4 million barrels in the week to May 29, the EIA said, compared with analysts' expectations for an decrease of 1.7 million barrels.

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  6. North Dakota oil producers to miss out on $480 million tax cutRead the original story w/Photo

    May 29, 2015 | Reuters

    North Dakota's oil industry will miss out on a roughly $480 million tax cut over the next six months due to the recent rise in crude prices. The average price for a barrel of benchmark West Texas Intermediate crude at the Cushing, Oklahoma, transport hub had to fall below $55.09 per barrel for May in order for the state to temporarily waive its 6.5 percent oil extraction tax.

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  7. Oil edges down but WTI set for record 10th week of gainsRead the original story w/Photo

    May 21, 2015 | Reuters

    Oil prices steadied on Friday as worries over the impact on crude supplies of war in the Middle East were balanced by reports of profit-taking ahead of a long weekend. Monday, May 25 is Memorial Day in the United States and a public holiday in much of Europe, closing many markets.

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  8. UPDATE 1-Oil edges down but WTI set for record 10th week of gainsRead the original story

    May 21, 2015 | Reuters

    Oil prices edged down on Friday after rising more than 2 percent in the previous session, buoyed by lower U.S. crude inventories and geopolitical tension in the Middle East. U.S. crude futures are in their longest winning streak since records began in 1983, helped by a drop in crude and product stockpiles last week, reflecting better demand in the world's largest oil consumer.

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  9. UPDATE 9-Oil gains over 2 pct on inventory draws, Iraq fightingRead the original story

    May 21, 2015 | Reuters

    Oil prices jumped more than 2 percent on Thursday, giving Brent its biggest rally in more than a week, as draws reported in the Cushing delivery point for U.S. crude futures boosted optimism that a supply glut was easing. The dollar's retreat took some pressure off crude prices as well.

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  10. REFILE-North Dakota still on track for oil tax breakRead the original story

    May 1, 2015 | Reuters

    The clock kept ticking in April on a suspension of North Dakota's oil extraction tax after a state-calculated average of the month's crude price fell below $52.59 per barrel for a fourth straight month. The tax break, enacted in the 1980s, had the potential to be worth more than $5 billion to oil producers over a two-year period.

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  11. Mideast Stocks-Gulf markets mixed despite strong oil; Egypt extends reboundRead the original story

    Apr 30, 2015 | Reuters

    Gulf stock markets were narrowly mixed on Thursday after some companies reported mediocre first-quarter earnings, offsetting the positive impact of higher oil prices. Egypt rebounded further on hopes that new tax rules would be amended.

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  12. UPDATE 4-U.S. oil hits five-month high as dollar weakensRead the original story

    Apr 30, 2015 | Reuters

    U.S. crude oil hit a five-month high on Thursday as the dollar slipped to its lowest since February and as more evidence emerged of a gradual balancing of the U.S. domestic market. The U.S. currency slipped to a two-month low against a basket of currencies as the euro and yen rallied, making oil less expensive for holders of other currencies.

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  13. Stocks slip, euro near two-month high as U.S. economy loses steamRead the original story w/Photo

    Apr 29, 2015 | Reuters

    Asian stocks stumbled on Thursday while the euro held near two-month highs against the dollar after surprisingly downbeat first quarter economic growth in the United States dimmed the mood. The disappointing news on the world's biggest economy, coming on top of a worrying slowdown in China, found expression in a warning by New Zealand's central bank that it could cut rates if domestic momentum weakened.

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  14. Global Markets-Asian stocks slip, euro stands tall after weak U.S. GDPRead the original story

    Apr 29, 2015 | Reuters

    Asian stocks slipped and the euro stood tall against the dollar early on Thursday after U.S. data overnight showed the economy grew much more slowly than expected in the first quarter. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5 percent.

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  15. Global Markets-Shares fall on U.S. GDP data; dollar pares losses after FedRead the original story

    Apr 29, 2015 | Reuters

    Stock markets worldwide fell on Wednesday after weak corporate results and data showing U.S. economic growth braked more sharply than expected in the first quarter, while the dollar pared losses after a Federal Reserve policy statement. Commerce Department data showed U.S. gross domestic product expanded at an only 0.2 percent annual rate, marking the weakest reading in a year and depressing U.S. shares.

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  16. Canada Stocks-Gains in oil shares limit TSX's retreatRead the original story

    Apr 29, 2015 | Reuters

    Canada's main stock index pared early-session losses on Wednesday, helped by a comeback in energy stocks on a jump in crude prices, but the index remained broadly lower. Investors were cautious ahead of a U.S. Federal Reserve policy statement due on Wednesday afternoon that comes after data showed U.S. economic growth stalled in the first quarter, fortifying expectations that the Fed will be in no rush to hike interest rates.

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  17. UPDATE 1-U.S. crude stocks build less than expected as Cushing draws - EIARead the original story

    Apr 29, 2015 | Reuters

    U.S. crude inventories rose last week to hit a record high for the 16th straight week but the build was smaller than expected as supplies at the Cushing, Oklahoma, oil hub declined for the first time since November, data from the Energy Information Administration showed on Wednesday. Crude stockpiles rose 1.9 million barrels to 490.91 million in the week to April 24, compared with analysts' expectations for an increase of 2.3 million barrels.

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  18. Traders alarmed oil glut is a strain on West Texas storage tanksRead the original story

    Apr 25, 2015 | Reuters

    Four-hundred miles from the near overflowing tanks at the U.S. oil hub in Cushing, Oklahoma, a second glut in the Permian Basin of West Texas is pressuring oil prices once again as pipeline disruptions strand millions of barrels in the region. The Permian, the fastest-growing shale play, accounts for about a fifth of the country's total oil production, and is expected to produce about 2 million barrels of crude a day in May. The region houses over 20 million barrels of crude storage.

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  19. UPDATE 4-Oil prices dip below $62 on U.S. stock buildRead the original story

    Apr 22, 2015 | Reuters

    Oil prices dipped under $62 a barrel on Wednesday after industry data showed a build in U.S. crude inventories for the 15th straight week, adding to concerns of a global supply glut. The American Petroleum Institute said on Tuesday that U.S. crude stocks rose by 5.5 million barrels last week, higher than the 2.9-million-barrel build expected by analysts in a Reuters survey, to 480.2 million barrels.

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  20. Oil prices drop as Middle East tension easeRead the original story w/Photo

    Apr 21, 2015 | Reuters

    Oil prices extended declines on Wednesday as Middle East tension eased after Saudi Arabia ended a military campaign in Yemen, while industry data showed that a larger-than-expected build in U.S. oil inventories. Saudi Arabia announced on Tuesday it was ending a month-long campaign of air strikes against the Houthi rebels who seized large areas of Yemen, easing geopolitical tension in the key oil producing region.

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