Will Covid-19 kill the oil industry?
As Coronavirus lockdowns continue to spread around the world, the oil industry faces more disruption to demand and supply chains, with many margins and prices already collapsing.
crude
US oil plunges below zero for first time in unprecedented wipeout
Of all the wild, unprecedented swings in financial markets since the coronavirus pandemic broke out, none has been more jaw-dropping than Monday’s collapse in a key segment of U.S. oil trading.
Oil soars after Trump says Saudi Arabia, Russia to cut supply
Oil soared after U.S. President Trump said that he expects Saudi Arabia and Russia to cut production back by 10 million barrels or more after he spoke with Crown Prince Mohammed Bin Salman on Thursday.
Crude rebounds after dropping to 18-year low
Oil rebounded after plunging to the lowest level in 18 years as investors weigh efforts by policy makers across the globe to strengthen economies against the impact of the coronavirus pandemic.
Aramco to face weeks without majority of Abqaiq’s oil output
Saudi Aramco is growing less optimistic that there will be a rapid recovery in oil production from the weekend’s attack and now faces weeks or months before the majority of output is restored at the giant Abqaiq processing plant.
Oil stays above $70 as geopolitical tensions belie bearish signals
Oil held gains near the highest since late October as an escalation of geopolitical conflicts in Libya and Iran belied technical indicators suggesting the rally is overdone.
Oil tanker market turns ‘bullish’ in wake of cuts
It’s never ideal if you own a fleet of crude tankers and the world’s oil producers remove millions of barrels of cargo from the market to avert a glut. Nor is a collapse in charter rates normally the best news.
A year in review – Oil benchmarks trail at the end of 2018
Brent crude oil averaged $72 per barrel (b) in 2018, and West Texas Intermediate (WTI) averaged $65/b in 2018.
Chinese growth fears throw oil gains into reverse
Oil retreated from a two-week high as risk appetite faltered after a revival of investor fears over the health of the global economy.
Oil price rollercoaster ride as supply uncertainty persists
Oil continued on its rollercoaster ride, with volatility soaring on uncertainty over OPEC and American supply, a trade war between the U.S. and China and the Federal Reserve’s monetary policy.
All eyes on Vienna – OPEC+ must cut 1.5m barrels or wave goodbye to recovery
OPEC and its allies must cut oil production by 1.5 million barrels per day next year if they want crude prices to surge above $70 again, an analyst said today.
Oil slides as Russian minister says current crude prices are fine
Oil headed for its biggest monthly decline since 2008 as Russia reiterated it’s comfortable with current prices, just a week before it meets with OPEC in Vienna to discuss possible production curbs.
Updated: Oil rises from one-year low even as concerns of glut persist
Oil rose from its lowest settlement in more than a year in New York, though signs of record output from Saudi Arabia amid pressure from President Donald Trump continued to weigh on the market.
How will oil’s freefall end? Here’s where you can look for clues
Oil’s record losing streak has plunged prices into a bear market and is reverberating around the globe, with the mayhem rattling everyone from bond traders to political leaders and fund managers.
Oil set for longest losing run since 2014 as supply fears ease
Crude’s poised for the longest losing streak since 2014 as concerns of a supply crunch eased on a forecast for rising U.S. production and waivers for eight countries allowing temporary import of Iranian oil.
Oil dips on stockpile concerns, Saudi production pledge
Oil faltered below $70 a barrel as Saudi Arabia said it has no intention of using its oil wealth as a political tool and as American crude stockpiles were seen gaining for a fifth week.
Canadian crude hits $20 a barrel
$20 Oil? Welcome to Canada, Where crude prices haven't recovered.
Oil drops on Saudi assurance and hopes for US waivers on Iran
Oil in London extended losses for a third day on signs that the potential impact of impending U.S. sanctions on Iranian supplies may be mitigated.
Cooler heads pull back wagers on Brent oil rally
The run-up to $100 oil is giving some investors pause.
Oil nears four-year high as Iran export drop stokes concerns
Oil traded near the highest level in almost four years as investors grapple with doubts over OPEC’s ability to replace falling exports from Iran.
Brent near $79 as Saudis signal comfort with higher prices
Brent oil traded near the highest level in a week after Saudi Arabia was said to be content with the global benchmark crude breaking above $80 a barrel.
Tale of two oil markets: Brent bulls split from US optimists
For oil investors, this is both the best of times and the worst of times, depending on which crude benchmark you trade.
Oil steady as slowing US output signs counter trade threat
WTI crude held gains near $66 a barrel as investors assessed signs of slowing growth in U.S. crude production due to a pipeline crunch against ongoing concerns over a trade war between the world’s biggest economies.
OPEC says it’s doing best to supply market but won’t overdo it
OPEC and its allies are doing what they can to offset crude output shortfalls that have kept global supplies tight and prices high, but they don’t want to overdo it.
US oil could soon help set the Brent crude price
S&P Global Platts, the company that sets the key price of Brent crude, is contemplating the eventual incorporation of U.S. oil to help calculate one of its newest European benchmarks, a sign of just how much America’s booming exports are reshaping global energy trading.