Oil prices remained under pressure on Wednesday after sliding to their lowest in more than three months in the previous session, slipping further on concern over waning demand in the United States and China.
Brent crude futures dipped 8 …
(Bloomberg) – OPEC+ still has a positive outlook for growth in oil demand, despite the headwinds faced by the global economy, as it prepares for its next ministerial meeting. “The economy, despite the challenges, is still doing quite …
LONDON – Oil prices hit fresh 2-1/2-month lows on Tuesday as mixed economic data from China offset the impact of Saudi Arabia and Russia extending output cuts. Brent crude futures were down $1.45, or 1.7%, to $83.73 a barrel …
Oil Price
In recent times, fears of a spillover in the conflict between Israel and Hamas, which could embroil Iran and its allies in the region, have offered considerable support to oil prices. Unfortunately for the bulls, the oil price …
(Bloomberg) — Oil gained after Saudi Arabia and Russia reaffirmed they will stick with oil supply curbs of more than 1 million barrels a day through the end of the year. West Texas Intermediate crude increased more than …
Oil rose on Friday, as the U.S. jobs market slowed more than expected last month, bolstering expectations of a pause in interest rate hikes in the world’s biggest consumer, but they remained on track for a weekly loss as …
The U.S. gasoline crack spread – a leading refining profitability indicator – slumped in October to the lowest level in nearly three years amid seasonally weaker American gasoline demand and the switch to the cheaper winter-grade gasoline, the …
NEW YORK – Oil prices climbed about 2% on Wednesday on worries the conflict in the Middle East could disrupt oil supplies and ahead of an expected U.S. Federal Reserve announcement that could provide clues about future interest …
Slow global economic growth will keep crude prices anchored below $90 a barrel this year and next, unless the Israel-Hamas conflict draws in more countries in the Middle East and exacerbates supply tightness, a Reuters poll showed on Tuesday.…
WASHINGTON – The World Bank said on Monday it expected global oil prices to average $90 a barrel in the fourth quarter and fall to an average of $81 in 2023 as slowing growth eases demand, but warned that …
(Bloomberg) – Europe’s oil majors seem to finally be winning back investors by refocusing on their core business, yet the valuation gap with their dealmaking U.S. peers remains stubbornly wide. After companies such as bp Plc embraced net …
Thanks to steady inflows in recent weeks, United States Oil ETF (NYSEARCA: USO) is once again the biggest oil exchange-traded fund in the world in terms of total assets, topping WisdomTree Brent Crude Oil fund for …
Blockbuster takeovers by U.S. oil and gas majors Exxon and Chevron this month may spark further consolidation in the energy industry after a quieter third quarter for mergers and acquisitions in the sector, analytics firm Enverus said.
There were …
Halliburton’s third-quarter profit beat market expectations on Tuesday as higher international drilling and equipment demand helped overcome weakness in North America. The increased demand comes as oil and gas companies reinvest their record profits from the market disruption …
Oil prices fell on Tuesday for the third straight session, after a flurry of slow economic data from Germany, the euro zone and Britain that weighed on the outlook for energy demand. Brent crude futures were down $1.76, or …
Unprecedented uncertainty in natural gas demand and policies and low levels of investment in new production risk creating fresh energy crises and undermining energy security and climate goals as it would stall the move away from coal, the …
Oil prices slipped on Monday as investors continued to focus on the situation in the Middle East, where diplomatic efforts are intensifying in an attempt to contain the conflict between Israel and Hamas.
Oil slips as investors watch diplomatic …
(Bloomberg) – Senator Joe Manchin condemned the Biden administration’s decision to lift sanctions against Venezuela’s oil and gas sector, arguing the U.S. should instead turn to domestic crude production to fill any shortfall.
The administration is looking …
The U.S. Department of Energy said on Thursday it hopes to buy six million barrels of crude oil for delivery to the Strategic Petroleum Reserve in December and January, as it continues its plan to refill the emergency stockpile.…
(Bloomberg) – War in the Middle East could cause the oil price to surge to $140 a bbl and bring the world to the brink of a recession, according to Ana Boata, head of economic research at Allianz …
HOUSTON – Venezuelan state-run oil company PDVSA has begun contacting customers with crude supply contracts amid the temporary lifting of U.S. sanctions, two people familiar to the matter said on Thursday, moving to resume cash sales to global refiners.…
Oil prices extended gains on Friday and were on track to rise for a second week on heightened fears that the Israel-Gaza crisis may spread in the Middle East and disrupt supply from one of the world’s top-producing regions.…
WASHINGTON – U.S. oil refiners have cranked up output of diesel, heating oil and jet fuel for winter but are struggling to turn a profit because gasoline margins have fallen over 80% since the summer driving season ended.
Refiners, …
Oil prices edged higher on Tuesday ahead of a trip by U.S. President Joe Biden to the Middle East that is likely to involve balancing support for Israel with trying to prevent any regional escalation of its war with …
HOUSTON -Oil futures fell on Monday on a report the U.S. and Venezuela could soon reach a deal to ease sanctions on Venezuela if a presidential election date is set, while traders see the Israel-Hamas conflict not affecting crude …
LONDON – Portfolio investors have dumped positions in petroleum at some of the fastest rates in the last decade in the most recent week as the bullish sentiment that built up after OPEC⁺ production cuts evaporated.
Investors reacted negatively …
