Oil Prices Fall Back After Recent Gains
Oil prices sold off sharply Tuesday, giving back a big chunk of prior-day surge, as fresh signals of global oversupply and weak demand buffeted the market and analysts cautioned that Continue Reading
Oil Rally Halts Near $40 With Stockpiles Seen Rising Further
Brent oil halted gains after rising above $40 a barrel for the first time since December on estimates that U.S. stockpiles, already at the highest in eight decades, expanded further. Continue Reading
Oil edges lower after Kuwait dents hopes for output freeze
Oil prices edged lower on Tuesday after Kuwait said it would only agree to an output freeze if all major producers take part and Goldman Sachs analysts poured cold water Continue Reading
Energy Wars of Attrition
Three and a half years ago, the International Energy Agency (IEA) triggered headlines around the world by predicting that the United States would overtake Saudi Arabia to become the world’s Continue Reading
Don’t Let Rally Fool You: Commodity Firms Still Face Debt Cliff
If you think commodity producers are out of the woods as markets rally, here’s a reality check: many are still grappling to contain debt. Another year of belt-tightening hasn’t kept Continue Reading
U.S. Energy Agency Sees Lower Global Oil Prices
The U.S. Energy Department lowered its price expectations for the global Brent crude contract this year and next, saying it expected supplies to grow more than previously anticipated because robust Continue Reading
Where has the oil gone? Missing barrels and market rebalancing:
Global oil production exceeded consumption by just over 1 billion barrels in 2014/15, according to the International Energy Agency (IEA). Production exceeded consumption by an average of 0.9 million barrels Continue Reading
Recent surge in commodity prices is premature: Goldman Sachs
The recent surge in prices of oil and other commodities has come prematurely, says Goldman Sachs, arguing that lower prices are needed for markets to rebalance. Oil prices have rallied Continue Reading
Iran May Become Gasoline Exporter as Refinery Plans August Start
Iran, a net importer of gasoline, may start exporting the fuel once the Persian Gulf Star oil refinery begins operating in late August, Fars news agency reported. The OPEC member Continue Reading
Italy warns Libyans time is running out for unity government
Italian Prime Minister Matteo Renzi has warned Libya’s factions that time is running out for a national unity government to get the confidence backing it needs from parliament. Italy and Continue Reading