Petroleum

Here are the commodity trading companies driving trading prices and production. Futures Magazine publishes the ultimate list of top global commodity trading companies.
The global markets have another concern as a ransomware attack across the Ukraine targeted business including Russian oil and gas company Rosneft and Danish shipping firm Maersk.
Oil Outlook
Oil prices edged higher on Thursday after the International Energy Agency (IEA) said the market was nearing balance, while U.S. data showing higher production kept gains in check.
While the energy markets are focused on crude and crude alone, the total U.S. petroleum stocks have been tightening more significantly. The Energy Information Administration reported that the total commercial petroleum stocks fell 4.7 million barrels compared to a 6.9 million barrel increase a year ago.
U.S. import prices recorded their biggest drop in seven months in March as the cost of petroleum declined, but the underlying trend pointed to a moderate rise in imported inflation as the dollar's rally fades.
Can Trump dig coal out of its slump?
OPEC officials began talks in Vienna on Friday aimed at working out details of their oil supply-cut agreement, which they concede is looking more complicated by the day.
A surge in the cost of petroleum boosted U.S. import prices in May after 10 straight months of declines, but a strong dollar continued to curb underlying imported inflation pressures.
U.S. job openings surged to a record high in April and small business confidence increased in May, signs that the economy was regaining momentum after stumbling at the start of the year.