Crude surrenders gains as traders assess Harvey storm damage
U.S. gasoline prices rose a sixth day and crude traded near $47 a barrel as traders assessed the risk to refineries and supply before a second hit on Texas from Tropical Storm Harvey.
oil prices
Storm Harvey’s impact on oil prices could already be wiped out by end of week, experts say
The effects of Storm Harvey could be felt in the US for a long time to come, but it won't be noticed by the North Sea oil and gas industry.
Oil loses ground after best week of 2017
Oil is back down again this week following the year’s biggest rally as investor focus shifted to rising output from the US and OPEC, away from a seasonal increase in American fuel demand.
Oil near $49 as investors await US crude stockpile data
US oil traded near $49 a barrel as investors await U.S. data following a report inventory unexpectedly expanded last week.
Oil above $50 as Opec prepares to meet allies on compliance
Oil in New York briefly rose above $50 for the first time since May after OPEC said the group and its partners will meet next week to discuss why some nations are falling behind on their pledge to cut production.
Oil sceptics exit as market dispels gloom to flirt with $50
As pessimism over oil dissipates and investors flirt with $50 a barrel again, short-sellers are getting out of the way.
Oil on course for biggest weekly gain in a month as US glut eases
Oil headed for its biggest weekly gain in a month as sliding U.S. inventories and signs of stronger demand raise speculation a supply glut in the world’s biggest consumer may ease.
Oil rally masks risk of Brent sliding to $40 post-Summer
Brent crude could potentially drop to $40 a barrel or below in the first quarter of 2018 without deeper output curbs by OPEC, according to an oil analyst at industry consultant JBC Energy GmbH.
Oil rises from seven-week high a US stockpiles plunge
Oil extended gains from the highest close in seven weeks as industry data showed US crude stockpiles plunged, easing a glut.
Signs shale boom has succumbed to oil price slump
Oil’s bear market may finally be taking its toll on the shale boom.
Update: Oil rises as Saudi pledges deep cut to August exports
Oil rose as Saudi Arabia said it would make deep cuts to its crude exports in August and encourage better compliance with supply reductions from other producers.
Oil plods to weekly gain as Opec faces St Petersburg dilemma
Oil edged toward its second weekly increase as OPEC and its allies prepare to review their plan to clear a global glut that hasn’t worked as they hoped.
Oil holds firm despite mixed signals on US crude inventories
Oil was steady amid mixed signals on U.S. crude inventories, with industry data showing supplies increased last week while government statistics were expected to indicate a decline.
Chinese oil demand waning as Opec struggles over output
Oil bulls grappling with Opec’s weakened resolve to curb output are also having to worry about waning demand in the world’s biggest buyer of overseas crude.
Oil hovers around $46 as US, Libya lift output
Oil traded near $46 a barrel after snapping a five-day gain on concern output in the US and Opec member Libya is growing just as demand shows signs of improvement.
Ecuador falls behind Opec cuts, report says
Ecuador has said it is not complying with Opec output reductions due to its financial problems, according to a news report.
Oil stays above $46 as demand helps drain stockpiles
Oil held gains above $46 a barrel as optimism that demand will help shrink supplies outweighed an increase in US rigs drilling for crude.
Oil gets some respite as bears give summer optimism a chance
Oil sceptics are letting a little sunshine in.
Oil’s weekly gain belies small increase from late-2016
Oil is set to rise this week, 2017 demand is seen growing more than previously expected, and US stockpiles are declining. Prices are still less than $1 higher than when OPEC pledged to curb output late last year.
Opec’s 2018 forecast shows it’s pumping too much oil
OPEC’s first assessment of world oil markets in 2018 showed that, despite cutting output, the group is still pumping too much crude.
Oil drops as Saudi produces above output cap
Oil fell in New York, erasing earlier gains, after Saudi Arabia’s production last month was said to have risen above the cap it agreed on with fellow OPEC members.
At Opec’s critical moment, Saudi ‘goes quiet’
Now is the time to maximize the impact of OPEC’s oil production cuts, yet the market is still waiting for the group’s biggest member to show it’s doing “ whatever it takes” to eliminate the global oversupply.
Top oil traders bet US shale here to stay
The world’s biggest energy traders are betting shale oil production is here to stay.
Oil below $45 as US output jumps
Oil slipped below $45 a barrel as investors weighed expanding US production against declining crude and gasoline stockpiles.
Opinion: Don’t hold your breath for deeper Opec cuts
The recent rally in oil prices came to a halt this week on news that Opec is actually exporting more oil than previously thought.