EIA: US crude stocks jump 9.4 million bbl

US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, jumped 9.4 million bbl during the week ended Mar. 18 compared with the previous week’s total, according to data from the US Energy Information Administration’s Weekly Petroleum Status Report. Source: News

MARKET WATCH: NYMEX oil prices fall ahead of inventory report, Easter holiday

Light, sweet crude oil prices fell slightly on the New York market Mar. 22 with the May contract closing at $41.45/bbl, down 7¢. The May contract is the new front-month contract as of the Mar. 21 closing. The Mar. 22 settlement marked the highest oil front-month closing price on the New York market since Dec. […]

US should flex geopolitical muscles from oil renaissance, forum told

The US should be less hesitant to use its expanded geopolitical influence after changing from a nation relying increasingly on oil and gas imports to one poised to be a major exporter, Manhattan Institute Senior Fellow Mark P. Mills said. Source: News

Pembina Pipeline to buy Kakwa gas complex

Pembina Pipeline Corp. has agreed to acquire sour gas processing properties in the Musreau area of Alberta from Paramount Resources Ltd. for $556 million (Can.) cash and other consideration pushing the transaction value to more than $600 million (Can.). Both companies are based in Calgary. Source: News