NEW YORK – Oil prices plunged more than 4% on Thursday, down for a fifth day to their lowest since January 2019 as more new coronavirus cases outside China fed fears of a pandemic that could slow the global …
Oil markets will begin to recover in the second quarter as the virus that has inflicted a “big hit” on Chinese demand abates, the head of Saudi Aramco’s trading unit said.
“By the end of April, we will …
NEW YORK – Oil prices edged up on Wednesday after U.S. crude in storage grew less than expected and gasoline inventories dropped, but hundreds of new coronavirus cases reported in Asia, Europe and oil-producing countries in the Middle East …
LONDON – Oil slipped towards $56 a barrel on Tuesday, falling for a third day, as concerns about the spread of the coronavirus and its impact on oil demand outweighed OPEC output cuts and Libyan supply losses.
Crude fell …
DENVER/NEW YORK – U.S. shale oil drillers could scale back investment in production more quickly than previously expected this year after prices slid for what had been a lucrative by-product of their operations.
Oil producers have already taken a …
A five-day rally in oil prices ended as investors found new reasons to worry about how fuel demand will be affected by the impact of Asia’s deadly coronavirus.
Brent futures fell 1.8% to trade below $57 a barrel …
Oil steadied near $57 a barrel in London as China and other Asian states promised economic stimulus to offset the impact of the coronavirus, buoying the outlook for fuel demand.
Prices recovered more than 5% last week, the …
Oil gained for a fourth session, the longest rising streak this year, amid signs that the worst impacts of the coronavirus outbreak may be easing.
Chinese refiners have used oil’s earlier drop to snap up cheap cargoes, taking …
LISBON (Reuters) – The coronavirus epidemic in China has had a marginal impact on energy markets and is unlikely to dramatically push up oil prices even if Chinese demand falls by 500,000 barrels per day, U.S. Energy Secretary Dan …
Global oil demand is now expected to see its first quarterly contraction in over a decade, according to the International Energy Agency (IEA), as the new coronavirus and widespread shutdown of China’s economy hits demand for crude.
Demand is …
NEW YORK – Oil prices edged higher on Thursday, as investors hoped the world’s biggest producers would cut output more, while they largely shrugged off forecasts of slumping demand due to the coronavirus outbreak in top oil importer China.…
Saudi Arabia’s state oil company made deep cuts to the price of crude it sells to Asia, where an outbreak of the coronavirus has caused a slump in demand.
Saudi Aramco lowered most of its official selling price …
SINGAPORE – Short-term sales of crude oil and liquefied natural gas into China almost ground to a halt this week as the coronavirus slows economic activity and cuts demand and buyers ponder legal action to avoid having to honor …
LONDON – Oil prices jumped by more than 4% on Wednesday after media reports that scientists had developed a drug against the fast-spreading coronavirus that continues to weigh heavily on global economic activity.
The World Health Organization played down …
LONDON – Oil prices clawed back ground on Tuesday on hopes for additional production cuts from OPEC and its allies to offset any potential demand drop triggered by the coronavirus outbreak.
Brent crude was up 93 cents, or 1.7%, …
LONDON – Oil prices fell on Monday, dragged down by concern over demand in China after the coronavirus breakout, though the possibility of deeper crude output cuts by OPEC and its allies offered some price support.
Brent crude LCOc1 …
LONDON/MOSCOW/DUBAI – Saudi Arabia has opened talks with OPEC and allied oil producers about moving their upcoming OPEC+ policy meeting to early February from March, four OPEC+ sources said, after a swift slide in oil prices alarmed Riyadh.
Worries …
Oil resumed declines as the biggest jump in U.S. crude stockpiles in almost three months added to concern over demand in a market already grappling with China’s spreading coronavirus.
Futures lost as much as 2% in New …
Oil continued its recovery from a three-month low as traders reassessed the threat to demand from China’s coronavirus, and as U.S. industry data showed a drop in crude inventories.
Futures traded near $54 a barrel in New York …
NEW YORK – Oil was mixed on Wednesday as worries about the impact of the coronavirus outbreak and swelling crude inventories in the United States weighed on prices, while talk that OPEC could extend oil output cuts provided support.…
ALGIERS – OPEC president Mohamed Arkab said on Monday he expects an outbreak of coronavirus in China to have little impact on the global oil market for now, but added that producers were ready to react to any new …
Adds comments from Opec source and updates China imports total
Dubai, 27 January (Argus) — Concern about the potential impact of the Chinese coronavirus outbreak on oil demand is putting mounting pressure on crude prices, outweighing Libyan supply disruptions …
