Oil plunges as OPEC+ adds new supply
Oil led losses in a broad market selloff while a resurgent virus threatened the global economic recovery just as OPEC+ agreed to boost crude supply.
brent
‘End of an era’: Shell film marks life and final days of Brent Charlie production
Shell has released a new documentary marking the life and final days of production on the Brent Charlie platform.
Oil jumps back above $73 as report points to falling stockpiles
Oil climbed back above $73 a barrel after an industry report pointed to a big decline in US crude inventories ahead of an OPEC+ meeting that’s expected to lead to the group returning more supply to the market.
Oil extends drop as covid concerns surface ahead of OPEC+ meet
Oil extended losses as a coronavirus resurgence raised concerns about demand ahead of an OPEC+ meeting this week that could see the alliance boost some halted output.
Oil steady near $74 with focus turning to upcoming OPEC+ meeting
Oil held near $74 a barrel as investors focused on an OPEC+ meeting this week that may pave the way for more supply from the group.
Oil set for weekly gain as focus turns to upcoming OPEC+ meeting
Oil is heading for a fifth weekly advance, the longest winning streak since December, as stockpiles shrink and the market tightens ahead of an OPEC+ meeting that will consider pumping more crude.
Brent oil edges above $75 as investors assess tightening market
Brent oil hit $75 a barrel for the first time in more than two years amid signs of a rapidly tightening market.
Oil rally drives brent toward $75 as market tightens, curbs ease
Oil extended a powerful rally, with global benchmark Brent closing in on $75 a barrel, after data pointed to a substantial draw in US crude stockpiles and top traders predicted further gains in prices.
Brent tops $70 as OPEC+ flags tightening market before meeting
Brent oil advanced above $70 a barrel after the OPEC+ alliance forecast a tightening global market ahead of a production policy meeting.
Brent oil set for biggest weekly loss since March on Iran boost
Brent oil was heading for the biggest weekly decline since March, with the market bracing for the prospect of more Iranian crude flows as the nation inches closer to a revived nuclear deal.
Oil up as cyberattack knocks out US pipeline
Crude oil climbed along with gasoline in New York after a cyberattack put the largest oil-products pipeline in the U.S. out of action.
Will oil hit $80 this summer?
India, the world's third-largest oil importer, is the latest coronavirus hotspot. It has recently hit a record-breaking number of new daily coronavirus cases—a statistic that dented oil demand and pressured oil prices.
Shell receives £76m refund as part of UK Government tax scheme
Shell received a refund from the UK Government of around $100 million in 2020, according to new figures.
Oil falls as India virus cases surge, OPEC+ opts to boost output
Oil fell after OPEC+ decided to increase output from next month and coronavirus cases in India surged, potentially sapping demand in the world’s third-biggest importer.
Oil jumps above $71 after key Saudi crude terminal attacked
Oil surged above $71 a barrel in Asian trading after Saudi Arabia said the world’s largest crude terminal was attacked, although output appeared to be unaffected after the missiles and drones were intercepted.
OPEC+ faces calls to cool oil market frenzy with extra barrels
From trading houses in Geneva to Wall Street banks, much of the oil world agrees that global markets could use some more barrels. The big question is whether OPEC+ will provide enough of them.
Police Scotland offered oil rig to help train for North Sea protests
Police Scotland has been offered use of an idle oil rig in order to train against a recent wave of protests in the North Sea.
Brent near $64 with Goldman Sachs predicting more gains
Brent oil resumed gains as the market assessed the fallout from the big freeze across Texas, with Goldman Sachs Group Inc. predicting prices will advance into the $70s in coming months.
Brent near $65 as US crisis provides global supply shock
Brent oil traded near $65 a barrel as a cold blast that’s taken out almost 40% of US crude production morphed into a global supply shock.
Brent holds above $63 with power crisis hitting US supply
Brent oil edged higher in Asia after closing at the highest in almost 13 months as a deepening energy crisis in the US disrupted crude production and forced the shutdown of some of the nation’s biggest refineries.
Brent marching toward $60 on expectations for tight supply
Oil rose toward $60 a barrel on expectations OPEC+ is committed to restraining global supplies even as the demand outlook improves.
Shell makes largest purchase of North Sea oil in a decade as prices power higher
Shell snapped up the largest amount of North Sea oil in over a decade during the market’s main trading window for physical cargoes, underpinning signs of sharply tightening supplies.
Updated: Oil prices fall as OPEC+ extends talks to second day without decision
Oil dropped the most in two weeks with OPEC+ yet to resolve an impasse on whether to keep raising production at a time when the pandemic threatens demand.
Updated: Oil advances on Covid-19 vaccine optimism and US stimulus
Oil climbed as the UK is poised to grant regulatory approval to another Covid-19 vaccine and as the US passed its stimulus bill into law.
Oil price direction an ‘open question’ as Covid mutation weighs down Brent
A top petro-economist said today that the Covid-19 mutation had left an “open question” about the direction of Brent crude prices in the coming weeks.