Oil rallied for a second day after the Federal Reserve unveiled a sweeping set of measures to support the world’s largest economy, while investors clung to hopes of a U.S.-Saudi Arabian deal to limit output.
Norwegian energy giant Equinor has suspended its share buyback programme due to the downturn in market conditions.
To understand the crisis engulfing the world’s largest oil companies, just look at their dividend yields.
Oil headed for its biggest weekly drop since 2008 as an unprecedented dual supply-demand shock showed no signs of abating.
Oil resumed declines after President Donald Trump said the U.S. would restrict travel from Europe for the next 30 days to try and contain the coronavirus, pummeling fuel demand even further.
Oil shares were decimated in London this morning after a crude price war erupted between Saudi Arabia and Russia.
Asian stock markets have fallen sharply reflecting a downturn in global oil prices.
Energy service firm Hunting said today that it was launching a share buyback programme for the first time in its history.
Oil extended losses after closing at a 13-month low as more new coronavirus cases were reported outside China than within, adding to fears the world is on the brink of a pandemic that will take a hefty toll on growth.
Saudi Aramco is starting early preparations for an international listing, just months after the oil giant turned its record initial public offering into a domestic affair and sidelined global banks, people with knowledge of the matter said.
Energy services giant Wood has announced the sale of its industrial services business to technical services provider Kaefer.
Oil jumped after the World Health Organization said there’s no need for travel and trade bans due to the coronavirus, but was still set for its worst month since May as the outbreak sapped the demand outlook.
Oil markets are likely to take a hit from China’s deadly coronavirus, with aviation fuel suffering the most, if the SARS epidemic in 2003 is any guide, according to Goldman Sachs Group Inc.
Oil fell below $65 a barrel as ample global supplies offset the loss of exports from Libya, while Europe considered a military mission to help enforce an arms embargo and a potential cease-fire in the OPEC producer.
Oil steadied as investors weighed the risk of further escalation in the conflict between the U.S. and Iran that has so far spared production and exports from the Middle East.
The threats of retaliation coming out of the US and Iran over the last 24 hours were enough to spook markets into taking a knock by closing time on Monday.
It’s been a pretty good year for European stocks. The benchmark Stoxx Europe 600 Index is set for an annual gain of about 24%, more than recovering from a selloff in 2018, and the gauge is set to end the year near a record high.
Oil held gains near the highest level in more than three months on indications of shrinking U.S. crude stockpiles and optimism in the global economic outlook.
Oil snapped a four-day gain after an industry report showed a large build in U.S. crude and gasoline stockpiles, reviving demand concerns.
Oil held gains above $60 a barrel on optimism that cooling trade tensions between the U.S. and China will spur demand and as analysts forecast a decline in American crude inventories.
Shares in Saudi Aramco have gained on the second day of trading, pushing the oil and gas company to a more than 2 trillion US dollar (£1.51 trillion) valuation.
Oil extended gains as OPEC crude output dropped before the group and its allies meet this week to set the path for future production cuts.
Oil held gains near $58 a barrel on signs a limited U.S.-China trade agreement is within reach and after analysts forecast the first drop in American crude inventories in five weeks.
Oil snapped a six-day losing streak as a surprise drop in U.S. stockpiles and tumbling OPEC output helped to offset more evidence the global economy is weakening.
Oil is set for its biggest weekly loss in nearly two months as the International Energy Agency warned of a looming supply glut, while OPEC and its allies urged members to maintain, rather than deepen, output cuts.