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A larger-than-expected inventory draw and a major winter storm in the U.S. this week pushed oil prices higher, although fears of further monetary tightening have limited the rally. Oilprice Alert: This month’s Intelligent Investor looks for unrealized value in the oilfield sector, analyzing two very promising stocks. Sign up today to read that analysis, and if you aren’t enjoying it after the first month we’ll give you your money back. A supportive EIA weekly report and concerns about the big freeze forcing production shut-ins pushed oil prices higher this week, although news of better-than-expected Q3 performance in the U.S. has raised the prospect of further interest rate hikes. While fears of an economic slowdown added downward pressure to oil prices, both WTI and Brent rallied on Friday morning as bullish sentiment returned. Keystone Spill Triggers Permitting Scrutiny. The US pipeline regulator has pledged to review all special permits that waive operating requirements for trunk pipelines, coming on the back of the Keystone oil spill in rural Kansas, the only US pipeline with a special permit to operate at a higher pressure. Saudi Arabia Slams Politics in Oil. Saudi Arabia’s Energy Minister Abdulaziz bin Salman lashed out against the politicizing […]
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