By hellenicshippingnews Expectations for swings in oil prices eased to the lowest in two months after a persisting supply glut checked crude's advance toward $50 a barrel in New York. The Chicago Board Options Exchange Crude Oil Volatility Index, a gauge of anticipated volatility in U.S. crude prices, fell to 39.58, the lowest since Aug. […]

By hellenicshippingnews There was a time when OPEC set the rules in the oil market and exercised its power to cut production and reverse a slide in oil prices. Then came fracking — a technology, which allowed oil to be extracted from places it could never have been imagined before. Some of these places were […]

Big US lenders have admitted they are setting money aside to cover losses on fossil fuel loans Read full story › Source:: FT.com Oil and Gas       

By hellenicshippingnews U.S. oil output will decline in 2016 for the first time in eight years as producers slash spending, the Organization of the Petroleum Exporting Countries said, while the producer group continues pumping at high levels. In its closely watched monthly oil market report, OPEC slashed its U.S. oil production forecast by 280,000 barrels […]