Crude Oil Settles Lower
The WTI and Brent crude oil benchmarks ended the day lower Tuesday.

The West Texas Intermediate (WTI) and Brent crude oil benchmarks ended the day lower Tuesday.



(Bloomberg) -- Higher OPEC oil oil rig flanges gulf coast production and longer voyages are propelling shipowners back to good times.

Just a month ago, hiring a supertanker for the benchmark Middle East Gulf-to-China route cost about $18,000 a day.



Important Oil Discovery in Barents Sea
A new oil discovery has been made though the Barents Sea Skruis exploration well, which is located in the Johan Castberg license.



Oil Trades Below $68
Oil traded below $68 a barrel as traders assessed mixed supply signals from producers.

(Bloomberg) -- Oil traded below $68 a barrel as traders assessed mixed supply signals from producers.



Denbury Acquires Penn Virginia in $1.7B Deal
Denbury Resources Inc. has entered into a definitive merger agreement to acquire Penn Virginia Corporation in a $1.7 billion deal.

Denbury Resources Inc.



Brownsville LNG Project Advances
FERC has issued a key document for Texas LNG's proposed LNG gulf coast oil rig export facility in the Port of Brownsville to proceed.



Crude Oil Falls on Glut Fears
The two key crude oil benchmarks settled lower amid fears of a potential supply glut.

The two key crude oil benchmarks settled lower Monday amid fears of a potential supply glut.



(Bloomberg) -- A self-declared republic in Somalia asked Ethiopia to reroute its nascent oil and gas exports via a proposed new pipeline, challenging Djibouti’s long-held plans for a conduit.



Australian Firm Takes 1st Step in North Sea Push
Talon Petroleum Limited enters into an agreement with Corallian Energy Limited to earn a 10% stake in License P2396.

Australia-based Talon Petroleum Limited announced Friday that it has entered into an agreement with Corallian Energy Limited to earn a 10 percent interest in License P2396, subject to Oil & Authority approval of the assignment.



Big Oil Resists Urge to Spend
The world's biggest oil companies aren't returning to their spendthrift ways, despite crude's recovery.

(Bloomberg) -- Forget "Drill, baby, drill!" The world’s biggest oil companies aren’t returning to their spendthrift ways, despite crude’s recovery.

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