More than two years after oil prices crashed, the sector is enjoying a revival thanks to a gradual rise in prices. Read full story › Source:: CNBC energy       

By hellenicshippingnews. Hedge funds and other money managers had barely started liquidating their record bullish position in crude oil futures and options before prices tumbled on March 8. The critical question is how much more of the position will need to be liquidated before the market stabilises again. Hedge funds still held a net long […]

By hellenicshippingnews. Royal Dutch Shell (RDSa.L) has updated the terms which govern Brent oil trade to allow for the addition of a fifth crude oil grade into the basket used to assess the global oil benchmark. Oil pricing agency S&P Global Platts (SPGI.N) plans to add Norway's Troll crude to the four already used to […]

OPEC produced a combined 31.96 million barrels a day last month. Read full story › Source:: CNBC energy