Reuters NEW YORK – Oil prices extended earlier losses on Thursday after U.S. data showed a surprise build in crude stockpiles last week and on forecasts for lower global oil demand. Brent futures LCOc1 fell 46 cents, or 1.1%, to $40.33 a barrel by 11:08 a.m. EDT (1508 GMT), while U.S. West Texas Intermediate (WTI) crude CLc1 was down 53
Reuters WASHINGTON/LONDON – America’s biggest oil and gas lobby group is ramping up its advertising spending ahead of the November election to persuade voters that natural gas is a climate-friendly fuel, according to ad buying data. The campaign by the American Petroleum Institute (API), targeted at younger voters and some tight congressional races, is part of a global battle by
RarePetro Oil & Gas 360 Publishers Note: Kevin Olson has assembled great data points about the influx of fifty million barrels of foreign crude oil to the United States, and may offset most of the production cuts. Pushing out any kind of recovery on our producers. This brings up the question: Should Donald Trump, or Congress, get involved in eliminating
RarePetro Oil & Gas 360 Publishers Note: Kevin Olson has assembled great data points about the influx of fifty million barrels of foreign crude oil to the United States, and may offset most of the production cuts. Pushing out any kind of recovery on our producers. This brings up the question: Should Donald Trump, or Congress, get involved in eliminating
Reuters WASHINGTON (Reuters) – The American Petroleum Institute has asked U.S. President Donald Trump for help suspending certain regulatory requirements on the oil and gas industry to ensure steady fuel supplies during the coronavirus outbreak, according to a letter it sent to Trump and seen by Reuters. The oil and gas industry is part of a long list of businesses
Reuters WASHINGTON – The American Petroleum Institute oil and gas industry group said on Wednesday that it does not see a significant threat to the U.S. energy supply chain from the coronavirus pandemic. Oil and gas companies are implementing contingency plans focused on ensuring continuity of supplies to market, and preventing the spread of the virus to workers and the
Houston Chronicle The chief executive of Phillips 66 has been named chair of the American Petroleum Institute, the oil and gas sector’s top trade group said Wednesday. Phillips 66 Chairman and CEO Greg Garland will serve two years as the API chairman. He succeeds Exxon Mobil CEO Darren Woods, who will remain on Washington-based API’s executive committee. “The natural gas
Houston Chronicle WASHINGTON — Meet the “gas and oil” industry. In an ad campaign launched Monday to highlight oil and gas companies’ efforts to address global warming, the American Petroleum Institute, the sector’s biggest lobbying group, reversed the industry’s traditional moniker to focus on natural gas, a fossil fuel with lower carbon emissions than oil. “This is natural gas and
Houston Chronicle Oil settled above $61 a barrel after posting its biggest annual gain in three years amid elevated tensions in the Middle East and signs that U.S. crude stockpiles fell further. Futures in New York rose Thursday but are set to post the first weekly decline in five weeks. Defense Secretary Mark Esper said Thursday that the U.S. was
From Reuters Oil prices steadied on Tuesday on optimism U.S.-China trade tensions will ease and hopes major economies will take stimulus measures to ward off a possible economic slowdown, after falling earlier on concerns over future demand. Brent crude LCOc1 settled 29 cents, or 0.5%, higher at $60.03 a barrel, while U.S. crude CLc1 rose 13 cents to $56.34 a
From Reuters Oil prices on Tuesday jumped by the most so far this year after the United States said it would delay imposing a 10% tariff on certain Chinese products, easing concerns over a global trade war that has pummeled the market in recent months. The Chinese products include laptops and cellphones. The tariffs had been scheduled to start next
From Reuters Oil prices fell more than 1% on Tuesday, with Brent crude settling near seven-month lows below $60 a barrel as trade tensions between the U.S. and China intensified worries about weakening global demand. During the session, Brent traded at a low of $58.81 a barrel, down more than 22% from its peak in April. That decline puts the
