Energy Update
May 10 (Reuters) - A U.S. navy warship carried out a freedom
of navigation operation near a disputed reef in the South China
Seas on Tuesday, the U.S. Department of Defense said.
(Tue, 10 May 2016) During the first three months of 2016, crude oil prices were relatively more volatile than in recent history. This elevated volatility occurred when overall oil prices were low, and volatility was driven by high uncertainty related to supply, demand, and inventories. Crude oil price volatility has declined since its peak in March. Prices have risen as concerns about future economic growth have abated and as inventory growth has slowed since the start of the year.
May 9 (Reuters) - The executive director of New York City's
biggest regional transportation authority urged reforms of the
nation's environmental review process for infrastructure
projects on Monday to cut costs due to bureaucratic delays.
SINGAPORE, May 10 (Reuters) - Oil prices fell early on
Tuesday as Canadian wildfires that have knocked out over 1
million barrels worth of daily crude capacity moved away from
production facilities, while brimming inventories and a strong
U.S. dollar weighed on markets.
May 9 (Reuters) - SolarCity Corp cut its forecast
for solar panel installations this year and reported a
bigger-than-expected quarterly loss, sending its shares down
nearly 20 percent in extended trading on Monday.
FORT MCMURRAY, Alberta, May 9 (Reuters) - The wildfire that
swept through the Canadian city of Fort McMurray blazed a
capricious trail. Swathes of homes were burned to the ground
while nearby areas were unscathed and dotted with blooming
lilacs, a tour showed on Monday.
TRIPOLI, May 9 (Reuters) - Production from south-east Libyan
oil fields to Marsa el-Hariga port will be shut down in less
than four weeks if a "blockade" of the port continues, a
spokesman for Libya's National Oil Corporation (NOC) said on
Monday.
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