Oil futures rose for a second straight session on Tuesday, with US crude hitting a six-month high, as the market focused on supply disruptions that prompted long-time bear Goldman Sachs to issue a bullish assessment on near-term prices. Oil prices have rallied for most of the past two weeks due to a combination of Nigerian,…Read more
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NEW YORK (Bloomberg) -- Oil rose to a six-month high as Goldman Sachs Group Inc. said the market moved into a deficit earlier than expected following supply disruptions in Nigeria and an increase in demand. Futures climbed 3.3% in New York. The shift to a supply deficit this month came one quarter earlier than forecast,…Read more
LONDON -- BP announced today it has doubled its interest in the Culzean development in the UK Central North Sea, following its acquisition of an additional 16% interest from JX Nippon. The acquisition increases BP’s interest in the development from 16% to 32%. “We are pleased to have deepened our interest in Culzean and we…Read more
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