The odds are increasing that an El Nino weather system will form this year, portending drought for Australia and Asia and a warmer winter in the U.S. Northeast.
West Texas Intermediate traded near a two-week low as crude inventories rose to the highest level in 83 years in the U.S., the world’s biggest oil consumer. Brent was steady in London.
The U.S. is stockpiling the most crude since the Great Depression, thanks to the shale boom that has boosted production to the most in 26 years.
West Texas Intermediate crude fell to a two-week low as U.S. supplies reached the highest level in 83 years. Brent also slipped.
The Obama administration’s latest Keystone XL delay is having an unintended consequence: the revival of the effort in Congress to circumvent the White House by forcing approval of the project.
Businessman and self-funded candidate Curt Clawson won a Republican U.S. House primary in Florida yesterday, a race marked by his own spending and outlays by super-political action committees.
West Texas Intermediate oil dropped the most in more than three months, widening the discount to Brent, on projections that a government report tomorrow will show that U.S. crude stockpiles climbed last week.
Keystone XL watchers take note: Canada’s oil industry is moving on.
A court challenge holding up TransCanada Corp.’s Keystone XL pipeline should be dismissed, Nebraska’s governor said, urging his state’s high court to allow the project to move forward.
West Texas Intermediate and Brent crudes rose to seven-week highs as tension escalated between Ukraine and Russia and the U.S. economic expansion showed signs of strengthening.
Schork Says Keystone XL Awaits Next Administration
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