Oil falls with virus mutation raising lockdown risks
Oil fell after posting a seventh weekly gain on concern a mutation of Covid-19 discovered in the U.K. could speed transmission of the virus and lead to more lockdowns.
brent
North Sea operators want ‘more evidence’ of sustained $50 oil price before greenlighting projects
North Sea operators would like “more evidence” that the $50 Brent oil price is here to stay before greenlighting long-term investments.
Brent climbs above $50 for first time since downturn struck
Oil in London climbed above $50 a barrel for the first time since the pandemic ground the global economy to a halt in a remarkable rally that few predicted would happen this soon.
Updated: Brent nears $50 as Opec+ agrees more moderate production increase
Brent crude neared $50 per barrel this morning after the Opec cartel and its allies agreed to a more gradual easing of production cuts next month.
Russia and Saudi Arabia power risks OPEC+ break-up
Frustrated UAE representatives are sending subtle but strong signals that they may be the first in the OPEC+ oil producers group to break free and go it alone.
Oil keeps rising after eight-month high on demand optimism
Oil kept rising after closing at a eight-month high on increasing optimism that recent Covid-19 vaccine breakthroughs will lead to a swift recovery in global energy demand next year.
‘Sharks and spaghetti monsters’: Questions linger on decommissioning impact to marine environment
Key questions on oil decommissioning and its impact on the marine environment could take “years to answer” according to a leading researcher.
Oil rises past August high on vaccine progress, Biden transition
Oil extended gains after closing at the highest level since August on signs Covid-19 vaccines could be rolled out within weeks and as the start of the U.S. presidential transition process aided markets in general.
Oil extends gains on vaccine progress as OPEC+ meets
Oil extended its gain with investors weighing news of another Covid-19 vaccine breakthrough as OPEC+ moved closer to delaying a planned easing of output cuts.
Oil jumps by most since June on Covid vaccine progress
Oil in London jumped by the most since June as Pfizer Inc. reported a potential Covid-19 vaccine breakthrough.
Commodities on edge as tight US election hurts gold, aids oil
Gold fell with copper and oil pared gains as tight races in battleground states in the U.S. election shook traders’ initial faith in a decisive outcome, raising the prospect of a prolonged wait for the final result.
Oil falls to five-month low as lockdowns and Libya spook market
Oil kicked off what promises to be a turbulent week of trading by plunging to a five-month low as a continued increase in Libyan crude production coincided with a wave of new virus-lockdown measures in Europe.
Updated: Oil trims losses after plunging to four-month low on virus fears
Oil futures bounced back from session lows as stronger-than-expected US economic growth data and signs that Europe may get more stimulus offset some of the fallout from renewed lockdown restrictions.
Oil sinks with rising US stockpiles adding to virus woes
Oil tumbled along with broader markets as swelling U.S. crude stockpiles added to uncertainty over the economic impact of rising coronavirus cases worldwide.
Oil steady near $43 before OPEC+ meets to assess market
Oil was steady near $43 a barrel in London before an OPEC+ meeting to assess the state of the market as demand comes under pressure once again from a resurgent coronavirus.
‘I might have left BP’ for Aberdeen property boom post-Forties
The Aberdeen oil boom after discovery of the giant Forties field nearly tempted one of the former top bosses at BP to leave the company for property development.
Oil extends losses after President Trump says he has Covid-19
Oil was caught up in a broad downward move in financial markets after President Donald Trump said he had tested positive for the Covid-19 virus.
Oil edges higher ahead of OPEC+ meeting with demand in focus
Oil has climbed ahead of an OPEC+ meeting this week that will assess the group’s production cuts as the recovery from virus-driven demand destruction falters.
Updated: Oil extends losses after first sub-$40 close since mid-June
Oil extended losses after its biggest one-day drop in more than two months as growing doubts over the strength of the global demand recovery along with continued weakness in stocks soured market sentiment.
About those decommissioning yard injuries
That fatalities and serious accidents are occurring in UK and Norwegian offshore installation decommissioning facilities comes as no surprise.
Shell Brent legs: Decom decision ‘postponed’ for giant structures
A decision on whether Shell will be allowed to keep the giant legs of the Brent field in the North Sea forever has been “postponed”.
Oil gives up some hurricane-related gains after refiners spared
Oil edged lower -- but was still headed for a fourth weekly gain -- after Hurricane Laura swept through Louisiana and Texas without appearing to inflict major damage on the region’s energy infrastructure.
Taqa has largest North Sea decommissioning bill this decade – Wood Mackenzie
Taqa has the largest UK decommissioning bill of any North Sea operator this decade, according to Wood Mackenzie.
Brent oil edges above $45 on signs of slowing U.S. Covid cases
Oil edged higher as markets in Europe and Asia advanced on signs that the surge in coronavirus cases in the southern U.S. is slowing.
Oil price holds near four-month high amid bearish signals
Oil held near a four-month high after speculation the Federal Reserve will keep U.S. interest rates near zero for longer buoyed markets.