Oil drops with IEA demand outlook pointing to weakness ahead
Oil declined as investors assessed the International Energy Agency’s reduced forecasts for global oil demand in part due to a slowdown in air travel.
West Texas Intermediate (WTI)
A month after historic crash, situation ‘not nearly as dire’ for US oil prices, experts say
U.S. oil prices aren’t expected to repeat last month’s unprecedented collapse into negative territory, industry experts say, because the nation’s stockpile has slowly decreased, easing a storage crisis, while traders “learned their lesson.”
US oil bounces back after fund switching drives wild gyrations
Oil climbed after losing more than a quarter of its value over the past two days with volatility likely to continue on concern prices may drop below zero again as investors and a major fund exit the June contract.
Oil majors help drive up the FTSE 100
Share price growth for oil majors BP and Shell boosted the FTSE 100 yesterday, with London’s blue-chip index rising 111.1 points, or more than 1.9%, to 5,958.5.
Good day for Brent oil and the FTSE 100
The price of Brent crude has continued to recover today after the oil price rout of earlier this week.
UK North Sea platforms ‘face production shut-ins’ as oil storage fills up
Offshore platforms in the UK North Sea “face the risk of production shut-ins” due to oil storage constraints, according to leading analysts.
‘Cataclysmic’ event needed for Brent Crude oil to go negative like US benchmark
A leading petroleum economist has said it would “require something cataclysmic” for the international oil benchmark to follow that of the US into negative pricing.
Government urged to bring cash to help Aberdeen’s energy transition
The prime minister and first minister have both been urged to announce cash to bolster the north-east energy industry.
US oil price rebounds from record wipeout with prices edging above zero
Oil rebounded in Asian trading, after plunging below zero for the first time in history amid rapidly filling American storage tanks, as the U.S. benchmark’s May contract entered its final trading session.
US oil spirals below zero in ‘devastating day’ for global industry
The day started like any other gloomy Monday in the oil market’s worst crisis in a generation. It ended with prices falling below zero, thrusting markets into a parallel universe where traders were willing to pay $40 a barrel just to get somebody to take crude off their hands.
US oil prices plunge to 21-year low, Brent more resilient
Oil extended its slide, falling to the lowest in more than two decades, on concern the world is rapidly running out of places to store crude after output cuts proved insufficient to cope with plunging demand.