Oil price tumble hits jobs and capital expenditure
Oil prices tumbled to within a whisker of $30 a barrel on Tuesday, extending a savage new year sell-off as BP axed thousands of jobs and Brazil’s Petrobras cut tens Continue Reading
U.S. Oil Prices to Hold Below $50 a Barrel This Year and 2017, EIA Says
U.S. oil prices will hold below $50 a barrel on average this year and next, government forecasters said Tuesday. Oil prices have tumbled from more than $100 a barrel in Continue Reading
Oil Prices at $30 Bend Nations, But Which Ones Could Break?
Slumping oil prices are testing Venezuela and other large petroleum exporters. Petrodollars are rapidly turning into petropennies. As oil prices flirt with the $30-a-barrel level , a key question becomes Continue Reading
Strong dollar inflicts more pain on oil as bearish options bets build
A stronger U.S. dollar is compounding an oil market rout that has seen crude prices fall by almost 20 percent this month, and options trades suggest the market is preparing Continue Reading
UAE moves to quash talk of OPEC emergency meet as oil slumps
The United Arab Emirates moved to quash talk of a potential emergency meeting of the Organization of the Petroleum Exporting Countries (OPEC) after Nigeria’s oil minister said on Tuesday a Continue Reading
After battlefield defeats, IS hits softer targets
Militants launched a coordinated series of bombings and suicide attacks deep inside several government-controlled areas of Iraq on Monday, signaling what could be a renewed embrace of asymmetric tactics by Continue Reading
Can ISIS Actually Gain Power Over Libya’s Oil?
As it turns out, Syria was merely a springboard for a much larger ISIS plan—replenishing terrorist coffers by taking over oil assets in war-torn Libya. The terror group has largely Continue Reading
Battle over Iran sanctions bill threatens nuclear peace deal
The Obama administration is facing a new fight with Congress over Iran sanctions just days before the nuclear agreement signed last year is due to go into effect. The House Continue Reading
Iranian Official Denies That Nuclear Reactor Was Sealed
An Iranian nuclear official on Tuesday denied a report that technicians had removed the core of the country’s only heavy-water reactor and poured concrete into the cavity, a final step Continue Reading
Bahrain, Oman Cut Gas Subsidies
Bahrain and Oman on Tuesday reduced government subsidies on gasoline, becoming the latest Gulf Arab countries to try to cut back on spending and offset the effect of oil prices, Continue Reading