Trump Should Release SPR Oil Reserves on Monday

June 30, 2018@3:49 PM TFP Editor 0

The speculators are at it again in the oil market, pushing up prices beyond the fundamentals. Sure the market is tighter than it was two years ago, but one look at gasoline inventories tells you there are more than ample petroleum supplies. In fact we have more gasoline inventories than a year ago, and we still have Read on The Source

Trump says Saudi king agreed to raise oil output by up to 2 million barrels

June 30, 2018@1:29 PM TFP Editor 0

WASHINGTON/RIYADH (Reuters) – U.S. President Donald Trump said on Saturday that Saudi Arabia’s King Salman had agreed to his request to increase oil production “maybe up to 2,000,000 barrels,” an extraordinary amount not confirmed by the kingdom and which would push the OPEC leader to a level of production never tested before. Read on Reuters

China’s ChemChina, Sinochem set to merge: Caixin

June 30, 2018@11:58 AM TFP Editor 0

BEIJING (Reuters) – Chinese state-owned Sinochem and ChemChina will merge to create a new company, to be headed by Sinochem chief Ning Gaoning, financial publication Caixin reported on Saturday, confirming an earlier Reuters report. Read on Reuters