Oil dropped the most in two weeks with OPEC+ yet to resolve an impasse on whether to keep raising production at a time when the pandemic threatens demand.
Oil climbed as the UK is poised to grant regulatory approval to another Covid-19 vaccine and as the US passed its stimulus bill into law.
A top petro-economist said today that the Covid-19 mutation had left an “open question” about the direction of Brent crude prices in the coming weeks.
Oil fell after posting a seventh weekly gain on concern a mutation of Covid-19 discovered in the U.K. could speed transmission of the virus and lead to more lockdowns.
North Sea operators would like “more evidence” that the $50 Brent oil price is here to stay before greenlighting long-term investments.
Oil in London climbed above $50 a barrel for the first time since the pandemic ground the global economy to a halt in a remarkable rally that few predicted would happen this soon.
Brent crude neared $50 per barrel this morning after the Opec cartel and its allies agreed to a more gradual easing of production cuts next month.
Frustrated UAE representatives are sending subtle but strong signals that they may be the first in the OPEC+ oil producers group to break free and go it alone.
Oil kept rising after closing at a eight-month high on increasing optimism that recent Covid-19 vaccine breakthroughs will lead to a swift recovery in global energy demand next year.
Key questions on oil decommissioning and its impact on the marine environment could take “years to answer” according to a leading researcher.
Oil extended gains after closing at the highest level since August on signs Covid-19 vaccines could be rolled out within weeks and as the start of the U.S. presidential transition process aided markets in general.
Oil extended its gain with investors weighing news of another Covid-19 vaccine breakthrough as OPEC+ moved closer to delaying a planned easing of output cuts.
Oil in London jumped by the most since June as Pfizer Inc. reported a potential Covid-19 vaccine breakthrough.
Gold fell with copper and oil pared gains as tight races in battleground states in the U.S. election shook traders’ initial faith in a decisive outcome, raising the prospect of a prolonged wait for the final result.
Oil kicked off what promises to be a turbulent week of trading by plunging to a five-month low as a continued increase in Libyan crude production coincided with a wave of new virus-lockdown measures in Europe.
Oil futures bounced back from session lows as stronger-than-expected US economic growth data and signs that Europe may get more stimulus offset some of the fallout from renewed lockdown restrictions.
Oil tumbled along with broader markets as swelling U.S. crude stockpiles added to uncertainty over the economic impact of rising coronavirus cases worldwide.
Oil was steady near $43 a barrel in London before an OPEC+ meeting to assess the state of the market as demand comes under pressure once again from a resurgent coronavirus.
The Aberdeen oil boom after discovery of the giant Forties field nearly tempted one of the former top bosses at BP to leave the company for property development.
Oil was caught up in a broad downward move in financial markets after President Donald Trump said he had tested positive for the Covid-19 virus.
Oil has climbed ahead of an OPEC+ meeting this week that will assess the group’s production cuts as the recovery from virus-driven demand destruction falters.
Oil extended losses after its biggest one-day drop in more than two months as growing doubts over the strength of the global demand recovery along with continued weakness in stocks soured market sentiment.
That fatalities and serious accidents are occurring in UK and Norwegian offshore installation decommissioning facilities comes as no surprise.
A decision on whether Shell will be allowed to keep the giant legs of the Brent field in the North Sea forever has been “postponed”.
Oil edged lower -- but was still headed for a fourth weekly gain -- after Hurricane Laura swept through Louisiana and Texas without appearing to inflict major damage on the region’s energy infrastructure.