Former BP boss Lord Browne fears ‘natural environment does not stand a chance’ as oil nears $100
The former boss of BP, Lord Browne, has set out fears for the natural environment as the price of oil nears $100 a barrel.
oil price
OPEC+ agrees on another gradual oil-output hike for March
OPEC and its allies agreed to revive more halted oil production, yet the group’s increasingly obvious struggles to fulfill its supply pledges left markets fearful of a potential shortfall.
Oil climbs near seven-year high as traders count down to OPEC+
Oil climbed ahead of an OPEC+ meeting that may endorse another modest lift in output, with traders speculating that the actual increase delivered by members could again fall short of the headline figure.
BP and Shell shares hit pre-pandemic levels as oil climbs
A recent swell in oil prices has driven the valuation of oil and gas giants Shell and BP to levels not seen since before the pandemic.
Oil slips from 7-Year high with Biden pledging to tackle prices
Oil slipped from the highest close since 2014 after President Joe Biden pledged to continue trying to lower prices and an industry report pointed to a modest increase in U.S. crude stockpiles.
Brent oil climbs to 2014 high as geopolitical unrest returns
Brent oil extended gains to the highest level in seven years as geopolitical tensions stirred in the Middle East and concerns about the demand impact of the omicron virus variant eased.
Commodity trader King Eyes $200 oil
A hedge fund run by commodities trader Doug King posted a record return last year, thanks to soaring energy, food, power and freight prices.
Oil steadies after OPEC+ adds more output on tightening market
Oil was steady in Asian trading after OPEC and its allies agreed to a scheduled increase in production for next month, and an industry report pointed to another decline in US crude inventories.
Oil steadies after its longest run of increases in 10 months
Oil futures in New York dipped after their longest run of gains since February, as the market weighed a series of supply outages against smaller quotas in China, the world’s largest crude importer.
Oil holds near one-month high on signs US stockpiles falling
Oil held near a one-month high after industry data pointed to another drop in US crude inventories and traders bet the fast-spreading omicron virus variant would prove to be less severe than earlier waves.
Brent oil hovers near $85 as pressure grows before OPEC+ meeting
Oil remained close to $85 a barrel as the market turns its attention to a meeting of oil producers on Thursday and a growing clamor for crude among consumer nations.
‘Good quarter’ for BP as company is buoyed by rising commodity prices
BP’s (LON: BP) chief executive has hailed “another good quarter” for the oil and gas giant, in no small part due to the spike in commodity prices.
At $2 trillion, Aramco races Apple for world’s most valuable company
Saudi Aramco is close to claiming the prized position of the world’s most valuable company from Apple.
OPEC+ choice to drip-feed oil supply sends price to 7-year high
Oil steadied in Asian trading after rallying to the highest level since 2014 following a decision by OPEC+ to maintain its planned gradual increase of supply, despite the market facing an energy crunch.
Oil price steadies ahead of OPEC+ supply policy meeting
The oil price was steady ahead of an OPEC+ meeting on Monday to discuss production policy amid a rapidly tightening market.
Oil may hit $100 this winter and spur economic crisis, BofA says
The global energy crunch could help propel oil prices above $100 a barrel for the first time since 2014 and spur a global economic crisis, according to Bank of America.
Someone is betting that oil will soar to a record $200 a barrel
Could the energy crunch get so bad that oil prices hit $200 a barrel? One options trader thinks so.
Brent oil soars above $80 as global energy crunch shakes markets
Brent oil roared above $80 a barrel, the latest milestone in a global energy crisis, on signs that demand is running ahead of supply and depleting inventories.
Oil prices fall after US calls on OPEC+ to boost production
Oil dropped suddenly after the US called on the OPEC+ alliance to revive production more quickly.
Oil tumbles to 11-week low as virus spread menaces outlook
Oil plunged to an 11-week low, extending losses after the worst week since October, as new waves of Covid-19 threatened fuel demand.
Here’s who wins and who loses from the surge in commodity prices
The world’s recovery from the coronavirus pandemic has sent prices for energy, metals and food soaring, helping big commodity exporters while hammering those nations that buy the bulk of their raw materials from others.
Oil closes out wild week with rally intact as bulls fight back
Oil held the bulk of a three-day advance to trade above $71 a barrel amid optimism that rising demand will tighten the global market.
OPEC+ to boost oil output after Saudi-UAE compromise deal
OPEC and its allies agreed to gradually add more oil supplies to the market, ending a two-week spat between Saudi Arabia and the United Arab Emirates.
Oil edges higher as investors bet demand will keep climbing
Oil rose on optimism that fuel demand will keep rising and tighten the market, despite a Covid-19 resurgence in many regions.
Oil price looms over Biden bid to throttle drilling rights sales
The Biden administration is preparing to release a blueprint for limiting sales of US drilling rights that falls short of the outright ban sought by some environmentalists, as the rising oil and gasoline price highlight the risks of curtailing domestic crude production.