Wednesday, June 10, 2026
Where the U.S. oil industry stands- oil and gas 360

Where the U.S. oil industry stands

Forbes The global Covid-19 pandemic led to an abysmal second quarter for the earnings of U.S. oil companies, but oil prices themselves staged a recovery during the quarter. The second quarter began with oil prices having fallen into the teens, and then West Texas Intermediate (WTI) went negative for the first time ever. But by the end of the quarter,

Steady oil price belies weakening physical market- oil and gas 360

Steady oil price belies weakening physical market

Reuters LONDON – The oil price is holding steady close to $45 a barrel, but prices further forward and in the physical market are showing new signs of weakness mainly due to a fall in demand from China after the country’s buying binge earlier in the year. The spread between Brent crude for nearby delivery and six-months ahead is at