Brent slides below $45 for the first time this year
Brent crude entered a bear market, plunging below $45 a barrel for the first time since November as skepticism that a supply glut will ease worsens.
Oil market sees increased conflict risk in Saudi power shift
After Mohammed bin Salman’s appointment as crown prince, energy markets need to brace for an even more assertive Saudi Arabian foreign policy that could threaten regional stability in the heart of the global oil industry.
Storm Cindy bears down on Gulf Coast after curbing oil, gas
Tropical Storm Cindy, which has already curbed energy production in the Gulf of Mexico, disrupted shipping and forced workers off oil and gas platforms, is now dumping rain on the Gulf Coast.
Rigs evacuated as Storm Cindy nears Gulf of Mexico
Tropical Storm Cindy has halted service at a major oil terminal in the Gulf of Mexico, prompted some evacuations at rigs and platforms and put states from Texas to Florida on notice for flooding rains.
Oil holds slide into bear market on global supply gain
Oil held losses after tumbling into a bear market as rising global supply offset efforts by OPEC and its allies to drain a glut.
Eni the big winner in Mexican offshore round
Eni was the biggest winner in Mexico’s latest auction of shallow-water oil prospects.
Chevron shielded from $9bn Ecuadorian ruling as court rejects appeal
The US Supreme Court left intact a ruling that protects Chevron from having to pay $8.6billion in a decades-long battle over oil pollution in Ecuador, rebuffing an American lawyer who was found to have committed fraud in the South American country’s court.
Oil’s slide stalls as investors weigh stockpiles against Libya
Oil’s slide below $45 a barrel stalled as investors weigh a forecast decline in U.S. crude stockpiles against a revival in output from Libya, which is exempt from the OPEC-led output cuts.
Ex-BlackRock chief’s gas bet comes good with $6.7bn EQT deal
Five years ago, Daniel Rice III was asked to step down from a lucrative position at BlackRock because of the side business he’d created with his sons. That business just sold for $6.7billion.
Saudis expects oil market balance despite added barrels from Libya
The oil market is expected to balance in the fourth quarter even as output from fellow OPEC members Libya and Nigeria as well as from shale oil producers is on the rise, according to Saudi Energy Minister Khalid Al-Falih.
Gloomy summer prompts hedge-fund doubts on gasoline
Hedge-fund pessimism about crude prices is spilling into gasoline markets, even at the time of year when demand is highest.
Oil below $45 as US drillers extend record rig streak
Oil traded below $45 a barrel after a fourth weekly loss on speculation that a record expansion by U.S. drillers will blunt OPEC-led efforts to rebalance an oversupplied market.
CEO who called Canada’s stock bottom sees $90 oil by 2020
Early last year, Jean-Guy Desjardins correctly predicted that Canadian equities were due for a rebound. He’s now saying oil prices will double, taking energy stocks along for the ride.
UK natural gas has worst week since 2012 as demand collapses
UK gas prices for immediate delivery posted the the biggest weekly decline in five years as works on a pipeline to mainland Europe damp demand for the fuel.
Forward curve for oil prices looks awful for Opec
As if a mini-collapse in oil prices wasn’t bad enough for OPEC, the pattern in which futures contracts are trading years from now has flipped into the worst possible structure for the exporter group.
Killer refinery fires no help as Pemex seeks new partners
Fatal fires at two Pemex refineries over the past four months have come at a bad time.
Impact of new Russia sanctions muted even as energy shares sag
For investors in Russia’s energy and metals sectors, the U.S. Senate’s bill to expand sanctions was a blow. Whether it will hurt Russian companies targeted by the legislation is less certain.
Oil set for longest run of weekly losses since 2015
Oil headed for the longest run of weekly losses since August 2015 as U.S. crude stockpiles remain stubbornly high and as Libyan production climbs toward the most in four years.
Oil guru who predicted downturn says Opec should have cut deeper
The oil guru who predicted the market rout in 2014 said OPEC and its allies should have gone much further when they extended their supply deal last month.
Germany, Austria tell US not to interfere in EU energy
Germany and Austria condemned a proposed expansion of U.S. sanctions on Russia, saying the measures sought to bolster U.S. economic interests and included an unacceptable intervention in the region’s energy sector.
Oil holds losses below $45 on surprise US gasoline supply gain
Oil held losses below $45 a barrel after sliding to the lowest in seven months as U.S. gasoline supplies unexpectedly rose for a second week.
GE’s Bolze quits after losing CEO contest, echoes of “brain drain”
General Electric Co.’s Steve Bolze, once a leading contender to succeed Jeffrey Immelt as chief executive officer, is leaving the company just days after missing out on the top job.
More than half of America’s nuclear reactors are losing money
More than half of America’s nuclear reactors are bleeding cash, racking up losses totaling about $2.9 billion a year, based on a Bloomberg New Energy Finance analysis.
Update: Shale drillers digging own hole as oil slips below $45
U.S. shale is coming perilously close to puncturing its own rally.
Lonely drifting oil tanker symbolic of Opec’s struggle
If a single ship can capture the current state of the global oil, it’s the supertanker Saiq, floating idly about 850 kilometers (528 miles) south of the Canary Islands.