LONDON – Oil edged up towards $46 a barrel on Wednesday, close to its highest since March, lifted by U.S. producers shutting most of their offshore Gulf of Mexico output ahead of Hurricane Laura and a report showing a …
Oil prices fell on Thursday as major producers warned of a risk to demand recovery if the coronavirus crisis is prolonged, while U.S. crude inventories dropped less than expected.
Brent crude was down 47 cents, or 1%, at $44.90 …
It’s no secret how hard integrated oil names have been hit this year due to the global economic consequences of the coronavirus pandemic, and Occidental Petroleum has been among the worst hit of all the companies in the …
TOKYO/LONDON – Oil prices eased on Wednesday on concerns U.S. fuel demand will face a slow recovery amid stalled talks on an economic stimulus package and despite support from a bigger-than-expected drawdown in U.S. crude stocks.
Brent crude futures …
NEW YORK – Oil prices edged lower on Friday as investors feared demand would recover more slowly than expected from COVID-19 pandemic lockdowns, while rising supply also overshadowed optimism over falling crude and fuel inventories.
This week, two prominent …
LONDON – World oil demand will fall more steeply in 2020 than previously forecast due to the coronavirus and there are doubts about next year’s recovery, OPEC forecast on Wednesday, potentially making it harder for the group and its …
The coronavirus pandemic has exposed some hard truths to the world’s largest oil and gas majors, energy analysts have told CNBC, with many reeling after historic second-quarter losses laid bare the financial frailty of the industry.
“Big Oil” companies,
NEW YORK – Crude prices rose more than 2% on Wednesday after government data showed U.S. oil inventories fell across the board, bolstering hopes that fuel demand in the world’s biggest economy will withstand the coronavirus pandemic.
Brent crude …
U.S. oil refiners this quarter are expected to spend the most since at least 2018 to meet U.S. biofuels requirements, further pressuring margins hit by the collapse since March in global prices and demand.
Under renewable fuel legislation originally …
NEW YORK – Crude prices rose on Tuesday, underpinned by expectations of U.S. economic stimulus to support the world’s biggest oil consumer as well as a rebound in Asian demand as economies pick up.
Brent crude LCOc1 futures rose …
Oil prices slid on Tuesday amid concerns that a nascent recovery in fuel demand could stall as a fresh wave of COVID-19 infections around the world sparks tighter lockdowns just as major producers ramp up output.
U.S. West Texas …
Oil prices steadied on Monday, pressured by rising COVID-19 cases around the globe and by oversupply worries as OPEC and its allies are set to wind back output cuts in August, but supported by positive industry data in Europe …
Oil prices are set for a slow crawl upwards this year as the gradual easing of coronavirus-led restrictions buoy demand, although a second COVID-19 wave could slow the pace of recovery, a Reuters poll showed on Friday.
The survey …
Oil prices rose on Friday, recovering further ground after touching three-week lows in the previous session, hit by a record decline in U.S. growth as the coronavirus ravaged the world’s biggest economy and oil consumer.
Brent crude was up …
The oil and gas industry’s most recent cyclical downturn, triggered by the Covid-19 global pandemic in March, has yet again invited close scrutiny of the U.S. shale industry. At one point, prior to the turn of events, shale was …
Oil giant Royal Dutch Shell on Thursday reported a sharp drop in net profit for the three months through to the end of June, following an unprecedented period of energy market turmoil and significantly weaker oil and gas prices.
U.S. oil and gas producer Hess Corp reported a smaller-than-expected quarterly loss on Wednesday, as higher output and lower costs helped offset a plunge in oil prices due to the coronavirus crisis, sending its shares 3% higher.
Crude prices …
Oil prices rose on Wednesday after an industry report showed that crude inventories in the United States fell against expectations, giving the market a boost amid record increases of coronavirus infections in the U.S. and elsewhere.
LONDON – Top U.S. and European oil and gas companies are forecast to swing into a second quarter loss after coronavirus lockdowns destroyed fuel demand, hit prices and squeezed margins, analysts said and Refinitiv Eikon data showed.
The expected
Reuters
HOUSTON/NEW YORK – A reopening of some major economies locked down due to the coronavirus has lifted global oil prices and encouraged U.S. shale producers to return at least a third of the 2 million barrels per day (bpd) …
U.S. crude oil and distillate inventories rose unexpectedly and fuel demand slipped last week, the Energy Information Administration said on Wednesday, as a sharp outbreak in coronavirus cases hit U.S. consumption.
U.S. crude production ticked higher and refined products …
Halliburton Co. booked a $2.1 billion pre-tax impairment charge in the three months through June as the COVID-19 pandemic provided difficult business conditions in North America.
The Houston-based energy-services provider posted a net loss of $1.7 billion as …
LONDON – OPEC fears its record oil cuts will fail to rebalance the market and solve the worst glut in history if a second wave of the COVID-19 pandemic undermines an economic recovery later this year, according to internal …
NEW YORK – U.S. companies are preparing to open their books on a quarter that is set to show the biggest earnings fall since the financial crisis, leaving investors looking for light at the end of the tunnel.
The …
LOS ANGELES/MADRID/LONDON – The booming rooftop solar panel industry nosedived overnight when the coronavirus forced homeowners to rein in spending and keep their distance from would-be installers.
Now, in their struggle to survive, companies on both sides of the …
Analysts at Goldman Sachs expect global oil demand to return to pre-pandemic levels by 2022, citing a pick-up in commuting, a shift to private transportation and higher infrastructure spending.
In a research note published Thursday, analysts at the U.S.
Oil prices reversed course and turned positive on Thursday, despite a record high U.S. crude inventories and worries that a rapid resurgence in Covid-19 cases could choke a revival in fuel demand.
U.S. West Texas Intermediate (WTI) crude futures …
