Oil rises on weaker dollar and storm supply disruptions
Oil accelerated gains in the wake of a weakening dollar and as Tropical Storm Zeta leads U.S. Gulf crude producers to shut output.
oil price
Here’s the latest on the resurgence of Libya’s oil industry
Libya’s oil industry reached a milestone over the past week with the reopening of the last of its oil fields and ports following a truce in a years-long civil war.
Hunting cuts global workforce by 30% since start of year in response to ‘challenging environment’
International energy services provider Hunting has made further job losses as it continues to battle the dual impact of the Covid-19 pandemic and the oil price slump.
Dwindling dividends could encourage oil and gas investors to favour renewables
Low prices and dwindling dividends could encourage more investors to move away from oil and gas in favour of renewables, according to a leading oil and gas lawyer.
Oil steadies as Saudis say nobody should doubt OPEC’s commitment
Oil steadied as Saudi Arabia vowed that OPEC and its partners will do what’s necessary to balance the market.
Oil slips with global virus surge depressing demand rebound
Oil clung to losses with signs of a shaky U.S. economic rebound and rising global coronavirus cases weighing on the prospect for a demand recovery.
Oil pares losses after U.S. crude and fuel supplies decline
Oil pared losses as shrinking American crude and refined product stockpiles countered troubling signs of a slowing labor market recovery.
Oil slides below $40 with supply disruptions subsiding
Oil accelerated losses with workers in the U.S. Gulf heading back following Hurricane Delta’s landfall and Libya taking a major step toward reopening its biggest field.
Libya reopens biggest oil field, giving OPEC+ a new headache
Libya took a major step toward reviving its battered oil industry by reopening its biggest field, presenting a new headache for OPEC+ as the alliance of major producers tries to curb global supplies.
Oil climbs with Hurricane Delta heading toward US Gulf
Oil advanced to the highest in two weeks as Hurricane Delta heads toward the energy-producing Gulf of Mexico region.
Oil rallies most since May on optimism over Trump recovery
Oil jumped the most since May in New York as President Donald Trump’s prognosis seemed to improve and stirred optimism over the possibility of an economic relief deal in Washington.
Oil holds decline with demand recovery concerns rising
Oil held its decline near $39 a barrel in New York, heading for the first monthly loss since April, as the world’s biggest trading houses signaled a meaningful recovery in demand is some way off.
Oil set for first back-to-back weekly losses since April’s rout
Oil headed for its first back-to-back weekly losses since April’s price rout, driven by a sharp slump in risk sentiment earlier in the week and a patchy demand recovery.
KCA Deutag plans restructure to wipe out more than £1billion of debt
KCA Deutag is working on a restructuring deal with creditors to wipe off more than £1billion of debt.
Oil pares losses with stronger equities offsetting supply fears
Oil recovered some of its losses with a rally in equities providing support to prices even as industry data pointed to a surprise increase in American crude stockpiles.
Oil back above $40, buoyed by rising equities and technicals
Oil moved back above $40 a barrel in London, as broader markets rebounded from Tuesday’s selloff.
Anasuria Hibiscus revenues fall 98% as firm delays oil sales
Revenues at Anasuria Hibiscus UK have dropped 98% as the company deferred oil sales in hopes of a recovery in the price of Brent Crude.
Oil rises with dual storms shutting U.S. Gulf Coast production
Oil rose as production was disrupted by two storms approaching the U.S. Gulf Coast.
Oil falls with pandemic-hit economies crimping demand outlook
Oil fell as economic signals out of Europe and Asia flashed warning signs about the rebound in crude consumption.
Understanding how crude oil and currency prices are connected
Oil, as the world's most heavily-traded natural resource and the bedrock foundation of some of the planet's largest economies, has always had a strong impact on virtually every area of economics and finance. The global oil trade is estimated to be worth something in the region of around $4 trillion a year in revenues, or about 3.8% of global GDP.
Oil drops for third day before OPEC+ reviews easing output cuts
Oil fell below $42 a barrel in New York as OPEC+ gathered to assess its supply deal, with countries struggling to contain the virus that’s hurt economies and fuel demand globally.
Bilfinger reveals more than 2,500 job cuts since start of 2020
Bilfinger has revealed it has shed nearly 2,600 jobs globally since the start of 2020.
Occidental posts $6.6billion charge after oil price crash
Occidental Petroleum Corp. reported a $6.6 billion writedown in the second quarter, equivalent to more than 40% of its market value, as the collapse in energy prices took its toll on the debt-laden U.S. shale oil producer.
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.
Oil heads for weekly decline as new virus cases surge
Oil in New York is heading for a weekly decline as surging coronavirus cases raised fresh concerns about demand, while the market is continuing to grapple with ample supply.