1. Crude slides into bear market as oversupply distress deepens

    #oilwire - #Oil entered the first bear market since #August as concerns worsen that #OPEC is failing to ease a global supply glut . West Texas Intermediate #WTI #crude , the #US benchmark , fell more than 20% from its highest close this year , meeting the common definition of a bear market . Futures settled at $43 . 23/bbl in #NewYork , down from $54 . 45 on Feb . 23 . Adding to an oversupplied market are #Li . . .

  2. Shale boom slows as investor enthusiasm for Permian fades

    #oilwire Oil explorers reduced rigs #drilling in U . S . oilfields this week , fueling optimism that a shale slowdown and OPEC production cuts will be enough to deflate a glut and strengthen crude prices . Shares of major shale producers , including #Pioneer #Natural #Resources Co . and EOG Resources Inc . , tumbled this week as investors began to lose confidence in the prolific #Permian basin . As the prod . . .

  3. Blackstone bets on shale boom lasting with Harvest deal

    #oilwire - #BlackstoneGroupLP’s reach for $10 billion in energy assets is the firm’s latest bet that the U . S . #shale boom is just hitting its stride . The world’s largest alternative-asset manager agreed to buy #HarvestFundAdvisors for an undisclosed amount , adding the firm’s 18-member team led by Eric Conklin to an investment empire that spans private equity , real estate , credit and hedge f . . .

  4. Natural gas bears stage biggest retreat in 11 months amid rally

    #oilwire - The rapidly disappearing glut of #naturalgas in the #U . S . is scaring the bears away . Last week , #hedgefunds staged their biggest retreat from short gas bets since September 2016 as futures rallied on a shrinking #supply #surplus . They cut their bearish positions in seven U . S . gas contracts by 19% , #U . S . #CommodityFuturesTradingCommission data show . Bullish bets were meanwhile little cha . . .