Energy, Wall Street’s worst performing industry in 2020, could see its fortunes improve in the new year after its price action surfaced a technical buy signal on the charts on Wednesday.
The bullish development in S&P 500 energy sector …
SINGAPORE – Global commodity markets are poised to end 2020 on a strong note, with recovering demand and widespread stimulus packages buoying prices after a roller coaster ride caused by the global coronavirus pandemic.
Roll-outs of vaccines to combat …
Oil prices are unlikely to mount much of a recovery in 2021 as a new coronavirus variant and related travel restrictions threaten already weakened fuel demand, a Reuters poll showed on Thursday.
The poll of 39 economists and analysts …
HOUSTON -Exxon Mobil Corp signaled in a regulatory filing that higher oil and gas prices and improved chemicals margins would aid fourth quarter results, but the gains would be overshadowed by an up to $20 billion asset writedown.
The …
NEW YORK -Global crude prices slipped on Thursday and lost more than a fifth of their value in volatile trade in 2020, as lockdowns to combat the novel coronavirus depressed economic activity and slammed fuel demand.
Still, Brent and …
This week’s Baker Hughes rig count shows that U.S. had an increase of 3 over last week, resulting in a total count of 351 rigs. Canada had a decrease of 23 over last week, resulting in …
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 6.1 million barrels from the previous week. At 493.5 million barrels, U.S. crude oil …
DENVER, Dec. 28, 2020 /PRNewswire/ — EnerCom, Inc., a nationally recognized management consultancy, and Colorado School of Mines, a leading public research university focused on science and engineering, announced today that it will host …
Reuters
NEW YORK – This year was like no other for oil prices.
Even as global prices end the year at about $51 a barrel, near the average for 2015-2017, it masks a year of volatility. In April, U.S. crude …
The U.S. Federal Reserve’s response to the coronavirus pandemic began on Feb. 28 with a 44-word statement of faith in the economy from Chair Jerome Powell, an old-school measure aimed at calming nosediving financial markets.
Within weeks, though, its …
MILAN – Italian gas group Snam and regional utility A2A are teaming up to look at ways of fueling Italian transport group FNM’s new hydrogen trains from renewable energy sources, the three companies said on Tuesday.
FNM said in …
MELBOURNE – BP Plc said on Tuesday it has found no oil or gas at its Ironbark-1 exploration well off Western Australia, in what had been seen as a multi-trillion cubic feet gas prospect.
The result marked a big …
SINGAPORE – Sinopec Corp pledged on Tuesday to maximise domestic gas productions and raise imports of liquefied natural gas (LNG) to record rates as a cold spell hitting large parts of the country this week lifts demand for the …
NEW YORK – In June, the United States imposed sanctions on half a dozen oil tankers managed by established shipping firms. It was a major escalation of American attempts to choke off Venezuela’s oil trade.
Within weeks, a little-known …
LONDON -Oil rose on Tuesday as the United States moved towards expanding pandemic aid payments, potentially spurring fuel demand and stimulating economic growth, which pushed investors to take on more risk.
Brent crude was up 53 cents, or 1%, …
DENVER, Dec. 28, 2020 /PRNewswire/ — EnerCom, Inc., a nationally recognized management consultancy, and Colorado School of Mines, a leading public research university focused on science and engineering, announced today that it will host …
LONDON — European markets rallied strongly at the start of the last trading week of 2020, as traders reacted to Brexit developments and President Donald Trump signing a $900 billion Covid-19 relief bill into law.
France’s CAC 40 rose …
Wall Street investors largely believe a Joe Biden presidency could mean lower stock-market returns, according to a new CNBC survey.
As a part of CNBC’s Quarterly Report, we polled more than 100 chief investment officers, portfolio managers and CNBC
MOSCOW – The Russian pipe-laying vessel Fortuna has left the Nord Stream 2 gas pipeline construction site in the Baltic Sea, Refinitiv Eikon data showed on Monday, indicating that the 2.6-km stretch of the project in German waters may …
MOSCOW – Russia expects to support an increase in oil production by the group, known as OPEC+, of another 500,000 barrels per day (bpd) from February at next month’s summit of the leading global oil producers, Russian Deputy Prime …
MEXICO CITY – Mexico’s government has issued new regulations to limit the ability of private firms to import fuel, according to a weekend decree, fanning concerns that the move may unduly benefit national oil company Petroleos Mexicanos (Pemex).
The …
LONDON – Oil steadied on Monday, after earlier rising to $52 a barrel, as optimism over the U.S. stimulus package and the start of a European vaccination campaign was balanced by weak demand and the prospect of higher OPEC+ …
The coronavirus relief bill passed by Congress toughens rules around use of a common heat-trapping chemical and funnels billions of dollars into renewable energy.
The measures, attached to a year-end government funding bill, were hailed by some lawmakers as …
OSLO – Norway’s supreme court upheld government plans for Arctic oil exploration on Tuesday, dismissing a lawsuit by campaigners who said they violated people’s right to a healthy environment.
While most of Norway’s oil output flows from south of …
HOUSTON -Citgo Petroleum Corp plans an overhaul at its 167,500 barrel-per-day (bpd) Corpus Christi, Texas, refinery in the fourth quarter of 2021, the company said on Monday.
The fourth-quarter 2021 turnaround could be rescheduled, Citgo said.
Sources told Reuters …
NEW YORK – U.S. governors from Massachusetts and Connecticut announced their commitment to a low-carbon transportation program on Monday, but gasoline-related trade groups say it has flaws that will harm, rather than promote, use of fuels that produce fewer …
NEW YORK -The oil market has rallied almost 40% in the last two months, pushing benchmarks to nine-month highs, in a euphoric response to progress on COVID-19 vaccines that has investors thinking the end of the coronavirus pandemic is …
LONDON -Oil dropped towards $50 a barrel on Tuesday, adding to losses from the previous session, as a mutant variant of the coronavirus in Britain revived concerns over demand recovery.
Detection of the new variant prompted several countries to …
HOUSTON/NEW YORK – U.S. oil and gas shares and drilling activity are edging higher, but a disastrous year for the energy industry means the go-go days of the shale boom may be gone for good.
Deep spending cuts that …
ANCHORAGE, Alaska – In a last-minute change, the Trump administration cut about 30 percent of the Arctic National Wildlife Refuge territory that it plans to auction off for oil exploration.
The decision was announced late Friday by the Bureau …
