Oil traded above $61 a barrel as signs of slowing U.S. drilling added to optimism that the global crude surplus is abating.
Hanwha Total Petrochemical Co. was considering alternative oil supplies after a fire on board an Iranian tanker that was destined for the South Korean company. The 32 crew members of the vessel were still missing following a collision in the East China Sea with another ship that’s left it in danger of sinking.
Saudi authorities said they’ll spend billions of riyals to help citizens offset the impact of a value-added tax and a surge in gasoline and utility prices, a move that will help ease public discontent while highlighting the kingdom’s struggle to overhaul its economy.
University of Arizona football coach Rich Rodriguez was less than three months from unlocking a $3.24 million bonus -- oddly, tied to the price of oil -- when he was fired late Tuesday night by the school.
Brazil’s state-run energy explorer Petrobras agreed to pay $2.95 billion to compensate U.S. investors who lost money when a massive corruption scandal eroded the oil giant’s market value.
Oil climbed to the highest level in two and a half years on expectations a U.S. government report will register the longest decline in crude stockpiles since the summer driving season.
A fire at a Nigerian pipeline interrupted gas supplies to companies generating more than 3,000 megawatts in Africa’s most populous nation, the government said.
Oil steadied after a second annual increase, supported by concern that protests in Iran could lead to a supply disruption in OPEC’s third-biggest member.
For as long as Gulf economies rely on oil, crude will be a factor in determining how investors trade regional markets. But right now, politics is king.
South Korea is holding another vessel over suspicions it transferred petroleum products to a North Korean vessel -- the second seizure to come to light since President Donald Trump warned China against illicit oil sales to North Korea.
Kuwait Petroleum Corp. signed a 15-year liquefied natural gas import deal with Royal Dutch Shell Plc to help the oil exporting nation meet growing domestic energy demand.
Keppel Offshore & Marine Ltd., the world’s biggest builder of oil rigs, agreed to pay $422 million to end a U.S. bribery probe into illegal payments to officials at Petroleo Brasileiro SA, Brazil’s state-owned oil company, and to the then-governing political party.
Congress is close to lifting a 40-year-old ban on energy development in Alaska’s Arctic National Wildlife Refuge, but drilling for oil in that frozen wilderness may still be years away as the effort faces exhaustive environmental reviews and likely lawsuits.
JPMorgan Asset Management chief global strategist David Kelly and Oppenheimer Funds chief investment officer Krishna Memani discuss their 2018 outlook for oil. They speak with Bloomberg’s Jonathan Ferro on “Bloomberg Markets: The Open. Watch the video to find out more.
After spending $50 billion on the world’s biggest bet on natural gas, Royal Dutch Shell Plc is at the forefront of Big Oil’s efforts to clean up its act. But what if the constant, insidious leaks of gas into the atmosphere actually make the fuel more polluting than coal?
Saudi Arabia released its second budget since unveiling proposals to reduce the kingdom’s dependence on oil. Here economists comment on the numbers, prospects for crude prices and the direction of government policy.
Saudi Arabia Finance Minister Mohammed Al-Jadaan discusses the Saudi budget, generating revenue off the Aramco IPO and the government’s anti-corruption crackdown. Watch the video to find out more.
Petrobras, carrying the largest debt load among global oil majors, is rolling a year’s worth of promises into a week of significant announcements aimed at trimming the gap before an unpredictable presidential campaign starts to gear up.
How do you turn green one of industry’s biggest energy users? For one U.K. steel magnate, the answer is to become the nation’s largest generator of renewable power.
Noble Group Ltd., the embattled commodities trader, faces a key deadline on Wednesday that could complicate its negotiations with creditors as it wrestles with a $3.5 billion debt restructuring.
U.K. mega-cap stocks are having a tough year, and their laggard days may not be over.
Oil extended gains toward $58 a barrel as U.S. drillers targeting crude reduced the rig count for the first time in four weeks.
A lump of coal is scooped onto a truck bed in Australia, driven to a port, loaded on a ship, piloted across the ocean to a dock in China, piled into a train car and delivered to power plant. And it would all happen under the watchful eyes of coal traders, if a fleet of new satellite tracking firms can deliver on ambitious promises.
Crude traded near its lowest level in a week as the International Energy Agency forecast that new supply may grow faster than demand next year, challenging OPEC’s efforts to deflate global stockpiles.
Crude slid the most in two months after U.S. gas data revealed supply that beat all estimates. Meanwhile, iron ore and copper are in focus in part due to changing Chinese demand. Bloomberg's Ramy Inocencio explains with his Bloomberg terminal charts you need to know on "Bloomberg: Daybreak Asia."