Post Tagged with: "WTI"

Source: CNBC

Oil jumps as much as 12% a day after its best day on record as traders expect big production cuts

CNBC


Oil prices surged again on Friday on the hope that a production cut deal will soon be reached after OPEC and its allies announced they will hold a virtual meeting on Monday, and after Russian President Vladimir Putin reportedly

Source: Reuters

Oil prices rise on stimulus package, fuel demand sinks

Reuters


NEW YORK  – U.S. crude prices rose slightly on Wednesday, bolstered by progress on a massive pending U.S. economic stimulus package, but government data shows the coronavirus pandemic started to hurt U.S. fuel demand last week.

Demand for oil …

Source: Reuters

Oil jumps 3% towards $28 on Fed steps to support economy

Reuters


LONDON – Oil jumped 3% on Tuesday towards $28 a barrel, supported by steps by the U.S. Federal Reserve to bolster the economy and hopes the United States will soon reach a deal on a $2 trillion coronavirus aid …

March 24, 2020 - 9:30 am Closing Bell Story‎, Crude Oil News, Economy, Energy News
Source: Reuters

Oil falls back as Russia rejects Trump’s intervention in price war

Reuters


LONDON – Oil prices fell on Friday after rising 10% in the session as the coronavirus epidemic knocked the outlook for demand and Moscow rejected an intervention by U.S. President Donald Trump in Russia’s price war with Saudi Arabia.…

Source: Reuters

Glut of crude swells across Atlantic basin on coronavirus, OPEC+ hikes

Reuters


LONDON/NEW YORK – Crude oil traders from West Africa to the U.S. Gulf Coast are offering cargoes at deep discounts, desperately trying to attract buyers as global supplies swell and demand plunges.

Oil prices have plummeted to 18-year lows …

Source: Houston Chronicle

Oil rollercoaster has crude rebounding after 18-year low

Houston Chronicle


Oil rebounded after plunging to the lowest level in 18 years as policy makers across the globe try to strengthen economies against the impact of the coronavirus pandemic.

Futures rose as much as 18% in New York, the …

Source: Reuters

Oil jumps after three-day slump but virus and oversupply still weigh

Reuters


Oil prices bounced nearly 7% on Thursday after a three-day selloff drove them to their lowest in almost two decades as demand plummeted due to the coronavirus and supplies surged in a fight for market share between Russia and …

March 19, 2020 - 9:00 am Commodity Pricing, Crude Oil News, Economy, Energy News
Source: CNBC

Goldman slashes oil forecast, sees US crude at $22 per barrel

CNBC


Goldman Sachs slashed its oil forecast on Tuesday as the COVID-19 outbreak continues to pressure demand.

“Demand losses across the complex are now unprecedented,” Goldman’s global head of commodities research Jeffrey Currie wrote in a note to clients Tuesday. …

Source: Houston Chronicle

Pioneer Natural Resources cuts budget nearly in half as oil falls below $30

Houston Chronicle


Irving oil company Pioneer Natural Resources is cutting its 2020 budget in nearly half as crude prices slipped below $30 per barrel.

The exploration and production company said late Monday afternoon that it plans to spend between $1.7 …

Source: CNBC

Oil prices plunge 8% after OPEC+ fails to agree on a massive production cut

CNBC


Oil prices sank more than 8% to multi-year lows on Friday as OPEC’s allies rejected additional production cuts proposed by OPEC on Thursday.

U.S. West Texas Intermediate crude slid more than 8.8% to a session low of $41.77, its …

March 6, 2020 - 1:00 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Houston Chronicle

Report: Crude oil exports soar while U.S. inventory grows slightly

Houston Chronicle


Crude oil production and exports soared during the last week of February while U.S. inventories grew slightly, a new report from the Department of Energy showed.

During the last week of February, the United States produced a record …

Source: Reuters

Oil rises $1 as OPEC, allies work on big output cut

Reuters


LONDON – Brent oil prices rose on Wednesday on expectations that major producers have moved closer to an agreement to enact deeper output cuts aimed at offsetting the slump in demand caused by the coronavirus outbreak.

Brent crude LCOc1 …

March 4, 2020 - 10:00 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: CNBC

OPEC will ‘go beyond’ what the market has currently priced in, strategist says

CNBC


OPEC could deliver a larger-than-expected production cut at its meeting later this week, according to MUFG Bank.

Oil prices have been under pressure since the outbreak of the coronavirus in January dampened the demand outlook for the year.

Following
Source: Houston Chronicle

Oil’s freefall halted by hope of action from central banks, OPEC

Houston Chronicle


Oil rebounded from its worst week since 2008 as the world’s central banks sought to stabilize financial markets, while hopes grew that OPEC+ will deepen output cuts following the coronavirus outbreak.

Futures rose as much as 4.4% in …

March 2, 2020 - 11:00 am China, Closing Bell Story‎, Crude Oil News, Energy News, OPEC
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 …

Source: CNBC

Oil prices rise as US crude stocks build less than expected

CNBC


Oil prices rose on Thursday after the U.S. government reported a much smaller-than-anticipated rise in crude stocks, but gains were capped by worries about the spread of Coronavirus outside China.

Data from the U.S. Energy Information Administration (EIA) showed …

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 …

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 China, Closing Bell Story‎, Crude Oil News, Energy News, International
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 …

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%, …

Source: Houston Chronicle

Oil heads for biggest monthly loss since May

Houston Chronicle


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 …

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 …

Source: CNBC

Oil rises 1%, snapping 5-day losing streak

CNBC


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

Source: CNBC

Oil drops the most since May on fears coronavirus will hit growth

CNBC


Oil is on track for its worst week since May as the coronavirus outbreak continues to pressure prices.

A slowdown in China’s economy would impact demand because China is the world’s largest crude oil importer, after importing a record

EIA forecasts U.S. crude oil production growth to slow in 2021

EIA forecasts U.S. crude oil production growth to slow in 2021

EIA


EIA’s U.S. crude oil production forecast is based on the West Texas Intermediate (WTI) price forecast in the January 2020 STEO, which rises from an average of $57 per barrel (b) in 2019 to an average of $59/b in

Source: Reuters

Oil falls 3% as specter of China virus threatens fuel demand

Reuters


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. …

Source: Reuters

Oil back in positive territory ahead of U.S.-China trade deal

Reuters


LONDON – Global oil benchmark Brent crude rose to more than $64.50, recovering from four days of declines on easing Middle East tensions, as the United States and China prepared to sign a preliminary trade deal.

Brent crude LCOc1 …

January 14, 2020 - 11:00 am Closing Bell Story‎, Commodity Pricing, Crude Oil News
Source: Reuters

Oil slips as focus shifts from Iran tensions to U.S. crude stocks

Reuters


LONDON – Oil prices retreated further on Thursday after sharp losses in the previous session, as the market shifted its focused towards rising U.S. crude stocks and away from fears of an imminent escalation of conflict between the United …

Source: CNBC

Oil prices will climb above $100 a barrel if Iran blocks the Strait of Hormuz, analysts predict

CNBC


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 …

Source: Houston Chronicle

Oil above $61 amid Middle East tensions, shrinking stockpiles

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 …