Post Tagged with: "coronavirus"

Source: Reuters

Oil prices slide for fifth day to lowest in a year as virus fears grow

Reuters


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 …

February 27, 2020 - 10:00 am
Source: Houston Chronicle

Aramco trading CEO: Oil demand will recover after ‘big hit’

Houston Chronicle


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 …

February 26, 2020 - 1:00 pm
Source: Reuters

Oil inches up on U.S. crude inventories, coronavirus limits gains

Reuters


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 …

February 26, 2020 - 12:00 pm
Source: Houston Chronicle

Oil slips for 3rd day as virus fears outweigh supply cuts

Reuters


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 …

February 25, 2020 - 12:00 pm
Source: Reuters

U.S. shale oil outlook darkens as by-product prices slide

Reuters


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 …

February 21, 2020 - 2:00 pm
Source: Houston Chronicle

Oil snaps 5-day rally as virus continues to weigh on demand

Houston Chronicle


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 …

February 18, 2020 - 9:00 am
Source: Houston Chronicle

Oil steady as Asian states seek to offset virus hit to economies

Houston Chronicle


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 …

February 17, 2020 - 10:00 am
Source: Houston Chronicle

Oil rally continues as virus fears show signs of easing

Houston Chronicle


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 …

February 14, 2020 - 9:00 am
Source: Reuters

Coronavirus unlikely to have big impact on oil prices: U.S. energy secretary

Reuters


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 …

February 13, 2020 - 3:00 pm
Source: CNBC

Global oil demand set to see first quarterly decline in over 10 years, IEA says

CNBC


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 …

February 13, 2020 - 1:00 pm
Source: Reuters

Oil prices climb on prospects for deeper OPEC+ output cuts

Reuters


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.…

February 13, 2020 - 12:00 pm
Source: Houston Chronicle

Saudis slash oil prices in Asia as virus causes demand shock

Houston Chronicle


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 …

February 6, 2020 - 2:00 pm
Source: Reuters

Coronavirus paralyses short-term oil, gas sales into China

Reuters


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 …

February 5, 2020 - 1:00 pm
Source: Reuters

Oil prices leap after reports on coronavirus drug

Reuters


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 …

February 5, 2020 - 11:00 am
Source: Reuters

Oil rebounds on potential for further OPEC+ supply cuts

Reuters


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%, …

February 4, 2020 - 11:00 am
Source: CNBC

Oil falls more than 2%, sinking to lowest level in more than 1 year

CNBC


Oil prices fell more than 2% 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.

U.S. West

February 3, 2020 - 2:30 pm
Source: Reuters

Oil falls as coronavirus hits demand; OPEC+ considers deeper cuts

Reuters


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 …

February 3, 2020 - 10:30 am
Source: Reuters

Saudi Arabia opens talks on possible February OPEC+ meeting after oil price slide

Reuters


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 …

January 30, 2020 - 3:30 pm
Source: Houston Chronicle

Oil falls again as U.S. supplies grow, Asia virus menaces demand

Houston Chronicle


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 …

January 30, 2020 - 9:00 am
Source: Houston Chronicle

Oil extends recovery as traders reassess virus threat to demand

Houston Chronicle


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 …

January 29, 2020 - 3:00 pm
Source: CNBC

OPEC’s waning influence laid bare as coronavirus outbreak hammers oil prices, analysts say

CNBC


OPEC’s battle to support oil prices as China’s coronavirus spreads internationally shows the producer group is struggling to wield the same influence over global crude markets, energy analysts have told CNBC.

It comes amid speculation that OPEC and non-OPEC

January 29, 2020 - 12:00 pm
Source: Reuters

Oil mixed as virus fears offset by talk of OPEC cut extension

Reuters


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.…

January 29, 2020 - 11:00 am
Source: CNBC

The sell-off in oil isn’t ‘entirely comparable’ to what happened with SARS, says CEO

CNBC


There’s a “bear stampede” in the oil market as a new coronavirus spreads, but that may not be directly comparable to the sell-off in 2003 associated with the outbreak of severe acute respiratory syndrome (SARS), according to an energy

January 28, 2020 - 1:00 pm
Source: CNBC

Oil prices likely to ‘stay down’ for months: Energy analysts fear impact of fast-spreading coronavirus

CNBC


Oil prices slumped to multi-month lows on Monday, with energy market participants increasingly concerned about demand growth as the coronavirus spreads globally.

International benchmark Brent crude traded at $58.99 a barrel Monday afternoon, down nearly 2.8%, while U.S. West …

January 27, 2020 - 3:00 pm
Source: Reuters

OPEC president sees little impact from coronavirus on oil market: APS

Reuters


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 …

January 27, 2020 - 11:30 am
Opec ready to act as coronavirus hits oil price: Update

Opec ready to act as coronavirus hits oil price: Update

Argus


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 …

January 27, 2020 - 7:24 am