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 …
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.…
Last month, two days before the latest government prediction that U.S. shale production would hit new heights, an oil industry conference in Houston opened with a clip of Eeyore making one of his bleak utterings: “End of the …
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 …
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%, …
Everyone from environmentalists to investors is beating up on fossil fuels, and American energy giants Exxon Mobil Corp. and Chevron Corp. are taking increasingly diverging approaches as they try to weather the storm.
The problem is, neither strategy …
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 …
Oil headed for its biggest monthly drop since May as Asia’s coronavirus spread, stoking concerns that demand for transportation fuels will shrink.
Futures were little changed in New York on Friday, after sliding to a five-month low on …
Oil giant Royal Dutch Shell reported a sharp fall in full-year net profit on Thursday, citing challenging macroeconomic conditions and lower oil and gas prices.
Net income attributable to shareholders on a current cost of supplies (CCS) basis and …
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.…
The health of the Texas energy sector declined for 10-straight months to close out 2019, even as oil and gas production steadily rose throughout the year, according to a new report from the Texas Alliance of Energy Producers.…
Oil futures rose 1% Tuesday after a five-day losing streak as OPEC sources said the group and its allies might tighten the market amid fears that the coronavirus, which has claimed over 100 lives in China, could weigh on
(Bloomberg) — Oil tumbled to the lowest in more than three months on fears China’s deadly coronavirus will hit demand in a market that already has plentiful supply.
Futures plunged more than 3% as China reported an increase …
LONDON – Oil extended losses on Friday to trade below $61 a barrel, heading for a weekly decline as concern that the coronavirus in China may spread, curbing travel and oil demand, outweighed the impact of cuts to supply.…
NEW YORK – UPDATED– Oil prices fell 3% on Thursday on concern that the spread of a virus from China could lower fuel demand if it stunts economic growth, but losses were limited by a drawdown in U.S. …
NEW YORK (Reuters) – Oil prices fell more than 2% on Wednesday as a market surplus forecast by the International Energy Agency (IEA) and demand worries outweighed concern over disruptions to Libya’s crude output.
Brent crude LCOc1 was down …
Oil erased most of its loss for the week, as the price gain after the signing of the U.S.-China trade agreement offset signs that supplies remain plentiful.
The phase-one deal committed Beijing to $52.4 billion in additional …
LONDON/TOKYO – Oil rose on Thursday as the long-awaited Phase 1 trade deal between the United States and China brought some relief to markets, but the gains were capped after the International Energy Agency said it expected oil production …
Oil headed for its biggest weekly loss since July as the prospect of an immediate confrontation between the U.S. and Iran abated, allaying fears of disruption to Middle East energy supplies.
Futures initially soared to an eight-month high …
Reuters
NEW YORK – Investors are worrying that rising energy costs due to an escalating conflict between the United States and Iran that has caused a spike in oil prices will hurt U.S. corporate earnings.
Oil prices briefly jumped to …
The biggest black swan event in the oil market is a disruption to the most critical chokepoint in the Middle East, according to an analyst from S&P Global Platts.
“The market is extremely exposed to any disruption to vessel …
Oil prices would skyrocket if Iran moved to completely cut off the Strait of Hormuz, energy analysts told CNBC on Wednesday.
Elevated geopolitical tensions have sparked fears of a widening conflict in the Middle East, with energy market participants …
LONDON – Brent oil futures fell on Wednesday from a four-month peak hit in frenzied early trading after a rocket attack by Iran on American forces in Iraq appeared to have no impact on oil infrastructure or crude flows.…
